Q: How do I send in my payment?
A: Reservation Fees of $99 per house can be charged by Credit Card online or by Fax.

Q: Can I use funds from my IRA?
A: Yes, you will need an “Administrator” to assist with this. See our Resources Page for a list.

Q: Are there any closing costs?
A: No, all closing costs are included in your sale price.

Q: So after I sign my purchase contract and wire my funds how soon will I be contacted & by whom?
A: Cornerstone Title will contact you within a few days of receiving your funds and contracts. They will arrange for you to sign the HUD statement and purchase documents. They will close the escrow and mail the deed to the county recorder’s office for recording. This usually takes anywhere from 1-3 weeks. It could take several weeks for you to receive your “Recorded” title. Please see the “Timeline for more information on the timing of various steps.

Q: How do you find renters for my property?
A: They are not renters and this is not a “rent to own” or a “lease to own” system. Renters and lessees don’t own the home and as such don’t take care of it as well. We actually Re-Sell your home to an occupant. You will execute a “Land Contract” with them. The monthly payment always works out to be lower than Local Market Rent, so people get to own a home for the less than rent. It’s an obvious decision for them.

Q: Can I get paid to refer my friends and business associates?
A: Yes. If you are excited about something, it is only logical that you will want to share it with others. We do pay referral fees when you refer a client who successfully completes the purchase of one or more houses. Please don’t hesitate to refer your friends and business associates. Don’t be selective. Our buyers come from all areas, and all income levels.

Q: Do I need Homeowner’s Insurance?
A: Yes, because you own the home, you should be responsible to get insurance to cover the property in case of fire. However, this is paid for by your occupant.

Q: When are Property Taxes due?
A: This varies from State to State, and from County to County. Cornerstone Title Services will take care of any prorated taxes due at the time of closing. They can also provide you with the tax agency information for your records. It is your responsibility to pay the taxes on your home. This cost will also be paid for by your occupant.

Q: What if a property is very beat up or in a bad neighborhood?
A: The Pro Financial Home Inspection Field Services Team will do a complete inspection on the house and get bids to rehab the house to get it ready for an occupant. Our Managed Houses include up to $1,000 to cover the cost of Rehab work.

Q: How long before you can find someone to move in?
A: It typically takes anywhere from 1-3 months from the time you receive title to the property. Please see our “Timeline” section on the website.

Q: Who takes care of any fix-ups/maintenance/renovations?
A: The occupants are responsible for this. When something breaks down or needs repair we do not call our bank to handle it. This is why they get such a great deal on the home, because they take it “AS IS” and are willing to put in some work into the house to fix it up.

Q: How do I get my monthly payment?
A: If you choose to have Pro Financial Services manage your loan and collections, your occupant will send their payment directly to them. PFS will deduct the 10% management fee and either transfer the funds to your bank account, or send you a check for the difference.

Q: How long has Future Capital Group, LLC been in business?
A: The founders have been actively involved in real estate investment for over 10 years. Future Capital Group, LLC was formed 2 ½ years ago to create new investment possibilities for the Real Estate Investor. We also saw a need to assist the growing number of people who were being displaced by the Real Estate Melt-Down. This system is the perfect union of these two situations.

Q: How are my monthly cash flow and the mortgage note price determined?
A: This is completely a function of the local market rent. We then factor that at 10% interest for 30 years. This gives us the payment amount and the total note amount. We survey the neighborhood and determine the average market rent in the area. If the average market rent is $500/month, we will advertise your house for sale at $400/month. At 10% interest for 30 years, with $500 down, this will give you a contract sale price of $46,080.

Q: How does the sale of the note happen? How much do I get on the sale of the contract?
A: The management company shops the contract to various contract buyers. The length of time you collect monthly payments is considered the “seasoning” period for the contract companies. Some note buyers require more seasoning, some less. Those that require less seasoning where you can sell your contract after 4-6 months may pay only 65% - 70% of your contract value. If you wait longer, 9-12 months, you may get 80%-85%. Less seasoning means more risk to them. If you’re lucky enough to get someone who can refinance on their own using the FHA program you actually get 100% of the contract value.

Q: Can I just keep the contract for longer?
A: Absolutely. It’s your contract and can do with it as you please. Keep it for 30 years if you like.

Q: Can I pick which state the property will be in? Can I wait for a higher value property?
A: No. The properties are sold on a first-come, first-serve basis. We buy these properties in bulk, sight un-seen. We do not know very much about the property at the time it is assigned to a client.

Q: Who does the valuations for the properties?
A: We use 3 different nationally recognized valuators:
1. http://www.cyperhome.com (Opens a new window)
2. http://www.zillow.com (Opens a new window)

Q: Who takes care of finding a suitable candidate to move in?
A: The management company, Pro Financial Services, LLC.

Q: How involved can I be in finding buyers, tenants, or even renovations that I may want?
A: Once you acquire a clear title to the property, you own it and can do as you please. However, Pro Financial Services, LLC has teams of people who are experts at this. They use lots of mediums of advertising such as billboards, radio and TV ads, signs, referrals, etc.

Q: What if the buyer I have cannot make the monthly payments?
A: We will initiate collection action which could result in eviction. We will also start the process of re-marketing the house to a new candidate to move in. The cost for this service is in the $400-$600 range depending on the local legal requirements.

Q: What if the tenant abuses my property?
A: They are actually not a tenant but the home owner and as such will usually treat the home as owners not as renters. You as the title holder hold the contract on the property, similar to a bank.

Q: What if maintenance or repairs are required?
A: The occupants are responsible for this. When something breaks down or needs repair we do not call our bank to handle it.