All Forum Posts by: Account Closed

There are many great outlets for the selling of note. Just be sure they all offer a free quote in a quick amount of time.

The other thing to be careful of is to not get involved in a long broker chain where one broker takes it to another broker who then takes it to another broker, and all take their cut off the top.

I know several direct buyers if you would like referrals.

Ryan,

I have to agree with Charles. Attend some local RE Clubs and really talk to others there. See how your assistance can benefit them (from that you will in turn learn as well as profit on deals).

I do have to say that I am envious of you getting your start at age 18, wish I had done that!

Here is a great site that is keeping track of the up to the minute status of the Sub Prime industry with a count of the number of lenders that are now "KAPUT"

http://www.mortgageimplode.com/

I state that the true benefit from attending large expos such as this is to meet other local investors, private lenders, etc.

See what breakout sessions people are attending. Like if they attend the Commercial courses, and you are investing in commercial RE, then strike up conversations with people in the room. See how you can help each other and benefit from dealing wit others locally.

Just want to follow up, I recently swapped my Sprint PC card for the Ovation USB broadband receiver. It works great.

Hopefully it works as well as the card did when travelling. I drove all the way to detroit using it the entire way in the car from Chicago.

Well I personally have had nothing but issues with Toshibas, so much that I call them ToSH*Tas

I never have had a HP, so can't comment there. I have had 2 Dells, and no issues with either and am impressed with the Sony Vaio.

Good luck!

Of course I have suggestions. There is actually an informal little group that meets in Lisle for lunch today. There isn't much in Grundy county itself, so you will have to travel some. However you will find other investors in that area at these events.

Check out my signature block.

I know the CCIA is another group in Chicago, their main meeting is normally the 3rd Sunday of the month, but this month it is the 4th for some reason.

But of course I am more partial to another organization.

I need to back up what Scott said. I don't know a single person that would lend on something you do not own.

Typically before I sell on a wrap around, I make sure I have solid financing in place. However, you owe on the initial mortgage in which you are the payee, so you can not sell that as you do not own that.

Are you just looking to increase your monthly cashflow? Hate to say it, not much you can do from what little information we have.

Well let me be the first to say, AWESOME that you went to the event. You can pay a mentor, you can take courses, etc. All that matters is you find your niche and take action.

Most people do not realize that being an investor is like saying I am in Computers. There are so many facets of "computers". You could be in Mainframes, networking, web design, web development, database administration, PC Support, etc.

Rather than trying to grasp it all, grasp one really well. Be the best at it. Just like being in a band, don't try to play all instruments. Pick one and dominate that one like Jimmy Hendrix would a guitar.

If it takes a mentor, then fine, go for it. But be sure to ask the "mentor" some very detailed quetsions. Get proof of deals they themselves have done. Ask for specifics, addresses, etc. Find out if others have utilized their service. I am sure you will always find detractors as well as those that recommend them highly.

The key is for them to show they are active now and do what they say to do. Nothing frustrates me more than the do as I say mentality. You might as well be John T. Reed, out there slamming everyone, but hasn't bought a single piece of real estate in over 20 years.

Anyway, do your due dilligence on the mentor. Not only should they be intelligent on the ways to invest, have experience in investing, but they need to be able to communicate that with you and in a manner that works well with you.

Hope that helps, I was sort of rambling on.

You can find Hard Money Lenders (HML) that will finance properties with no money down up to X% of the ARV. Normally it is 65-70% of the ARV.

The other way is to attend local REI Clubs, find partners that have money and use their money.