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If I did the math right, (and it is 2 am, so it's possible I did it wrong) that would be a return of about 20% per year. Can you please tell me where I can buy such an investment?
You got the math right but dont have all the stipulations on the annuity.
It is required to be tied to a new home purchase that will be owner occupied and kept for the full five years. I believe the company is counting on alot of these people moving or selling before that time leading to a large number of these not ever being collect on. Also, there is a maximium dollar amount that can be connected to any certain property. So, this is not as great a deal as it looks from the opening but it helped get this deal into escrow(hopefully closed). Of course I completely disclosed all stipulations and it has merit for the right people in the correct situation.
I heard of someone else doing that at our companies IBC this year with much success. It sounded like when offered in numerous occassions it paid for itself. The agent offered it to buyers knowing enough wouldn't cash in to pay for the ones who did. I've considered it but haven't taken the time to learn more about it. How did you set it up and was it difficult?
Not easy to set up and has a large number of stipulations but any hassle is worth making my clients happy.
[quote=Jamesww;3480147]You got the math right but dont have all the stipulations on the annuity.
It is required to be tied to a new home purchase that will be owner occupied and kept for the full five years. I believe the company is counting on alot of these people moving or selling before that time leading to a large number of these not ever being collect on. Also, there is a maximium dollar amount that can be connected to any certain property. So, this is not as great a deal as it looks from the opening but it helped get this deal into escrow(hopefully closed). Of course I completely disclosed all stipulations and it has merit for the right people in the correct situation.[/QUOTE]
That last sentence is what was told in the under cover dateline program, and wasn't disclosed. Are you disclosing that many annuities never make money and are losing money? I bought years ago an annuity for later in life and so far it is not worth more money. I would have made more putting it on a savings account. The market is not very good for anything to go up fast and for sure not in 5 years, so the 20% is certainly not a true percentage.
It might be a real thing but it sure smacks of a ponzi scheme...
Look, I don't blame the realtor for trying to get the best deal for his client, he makes a higher commission this way rather than lowering the sale price. However I'm highly skeptical that this would be a "good deal" or a better deal for the buyer, than actually lowering the sell price / or offering actual $ for the closing.
As they always say, the devil is in the details.
If someone could post the actual details or a link of the program, we can all make a better determination.
Look, I don't blame the realtor for trying to get the best deal for his client, he makes a higher commission this way rather than lowering the sale price. However I'm highly skeptical that this would be a "good deal" or a better deal for the buyer, than actually lowering the sell price / or offering actual $ for the closing.
As they always say, the devil is in the details.
If someone could post the actual details or a link of the program, we can all make a better determination.
I agree. Specially in this time with many home owners already having troubles with understanding their mortgages and now a new thing on the horizon which can increase more negative things in the future for real estate and IMO real estate need positive things and not strange deals on which dateline is already reporting about how they are sold by telling people they will get a high percentage but the truth is way different.
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