Mandarin-Speaking Robots to Partner with Chinese Real Estate Website

Source: https://thinkrealty.com/mandarin-speaking-robots-to-partner-with-chinese-real-estate-website/

If you always wanted to work with Chinese real estate investors but had no idea how you would start the conversation, Singou Technology of Macau (STM) and Chinese international real estate website Juwai.com may have some answers for you. Juwai.com announced this week that it will partner with STM to introduce a line of Mandarin-speaking robots. The machines will be called “Butler 1” and have artificial intelligence programming. They are intended for use in real estate offices.

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Are you thinking of investing in property? But you don’t have enough money to do this. Here is a tip you are able to use as long as the person selling the property is willing to negotiate along.

To be fair, not all sellers will be interested (or even understand) the concept outlined. Your very best gamble is to locate a property that the owner has great desire for selling, whether because of moving, a divorce settlement, or frustration with tenants.

Actually, if you are currently renting and thinking about using this technique perhaps the owner would be happy to help you out! There are a few variations that can be used depending on you and your vendor. Do they want the market price or are they just eager to get out of the monthly payments – maybe facing foreclosure?

The easiest way is to take over their mortgage repayments – called ‘assuming’ the mortgage. You will have to be approved by the first lender to assume the mortgage. If you can’t get approved for an assumable mortgage you could as well try a ‘subject to’ assumption where you merely make repayments while the property stays in the seller’s name.

You take over the first mortgage and get a 2nd mortgage on the remaining cost of the property with the seller. Offer a high, interest-only payment for a short time frame – two or 3 years. Instead of having the money sit down in a bank they could be collecting a high interest over two or three years with the remainder due in full at the end of the investment term.

When the term ceases you should be able to refinance the cost, or you can sell. Unless you hit an actual bad market the value of the home should have risen by then.

Most mortgage lenders merely need to make a great investment. While your local bank could still be lacking confidence there are lots of financial lenders that would wish to make a deal. Financiers prefare property investing. The mortgage is mostly based on 60-70% of the value of the property, so as long as they know they get their money back in the value of the property if you default, they do not care what kind of income you make. Conclude the deal with a second mortgage created with the seller. If you default they can eventually foreclose on the property and sell it, paying off the existing mortgage in the proceeds.

Now you can see the entire picture. It is good that seller and buyer can work together. If they can’t wait for a sale, you could still give them their initial price with a little overall flexibility on their part.

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