Doing Due Diligence
Friday, July 20
So I thought I had 2 good prospects this past month, and one turned out to be a complete dud, while the other is beginning to smell like a stinker as well.Note #1SFR located in Las Vegas, that sold in December 2009 for $89,000 (seems reasonable for post-2008 housing crash).Buyer came in with $20,...
Yellow Letter Mailings
Wednesday, July 11
In addition to my website (www.LRPrivateNoteBuyer.com), my Facebook page, my Bigger Pockets presence, and my relationships with note brokers, note creators (investors), and realtors, I am trying a new tactic in order to find more note sellers: Yellow Letter Mail (www.yellowlettermail.com).Yes, t...
Why Haven't You Started Your Roth IRA Yet?
Monday, July 09
It happened again. Twice. This past weekend alone."What Happened?" you might ask.What happened is that I spoke to two people, who are eligible for a Roth IRA and are not contributing to one.I am not a religious person, but this is the equivalent of a FINANCIAL CARDINAL SIN.Recap:The Roth IRA i...
My Latest Note Deal (June 2012)
Wednesday, June 27
I love creating win-win situations when buying notes, and that's exactly what happened on my last deal.Note seller sold for $200,000 and took $48,000 (24%) down, carrying back a $152,000 note for 66 months at 3.75%. Monthly payment is $2552.27. Not exactly how I would have written it, but onto ...
Snowballing Your Money
Tuesday, February 15
I wrote this "strategy" to a fellow BP member, and I thought why not share it with everyone on BP?So, the concept is Snowballing Your Money. And here is the basic outline:1. Set up a self-directed Roth IRA (remember, your contributions to your Roth IRA are with after-tax money. Whatever you ca...