Michael Quarles? Anyone worked with him?

[Samuel Ksiazkieicz]

I have followed Michael Quarles' posts on other websites and I like a lot of what I read. I am not a huge proponent of mentors but at the same time, my free time/study time is very limited with my job and he offers a year long mentorship for only 899. Unfortunately I cant get any references for him.
Anyone have experience with him?

[Michael Quarles]

Maybe I will get booted off on my first day back... Who knows..

Great point regarding the lower interest rates... Two very different types of sub2 investing out there in the sub2 world.. NON equity and equity..

I am an equity investor... So lets assume for a second that there is that loan out there at is a performing rate lower then current rate and the lender does exercise their right to call...

I wont buy and transfer title which I have control unless I see at the minimum 25% equity or 52k which ever is greater...

Keeping to that standard allows me, if forced to buy the lender on their call, to either refi or sell...

Unlike some investors I believe the best investment strategy is to never own property therefor I even during the escrow period of buying the property I am attempting to sell the property. I know that once I contract a property it averages 93 days to cash in my pocket...

So assuming I close without a buyer and buy Sub2 and the bank calls on the days of recorded transfer. I then have 30 days for the call and 90 days for the NOD and 21 days for the trustee sale... That totals 141 days ... Worst case...

Lets assume I cant sell the darn thing.... I do have at minimum 25% equity, If I put nothing down, which happens to be 10% too little for a hard money loan so I would ask myself. Does feeding this transaction 10% make economic sense.. At that point I would...

Lets assume I dont have the 10% to feed the deal and am faced with the lender taking the property. I at this point would lower the price and cause it to sell. Remembering that most investors pay 100% of value when they buy. So if I were to reduce it to 90% I would still earn 15% minus costs... Which after all is said is about 9%..

Keep in mid that my minimums are 52k or 25% which ever is more. So the break number is 204K so 9% of 204 is 21.6k

I will take this risk every time..

Happy house hunting

Michael