All Forum Posts by: Adam Adams

@Collin Goodwin - "2. The main difference is the "reply-to" which is typically masked anyways. Podio would automatically attach a unique "reply-to" address which would direct the response directly back into the record from which it was sent, keeping it extremely organized and accomplishing the objective. "

All of the CRMs use this method or similar. That's what I'm trying to avoid. Pipedrive avoids this system. I can setup Pipedrive to automatically link to deals, but when my attorney writes me in regards to a property, Pipedrive isn't going to know, so I pick it myself. However, picking a deal is a matter of a couple of seconds. This way I am not working with an elaborate system of unique email addresses. I only have my one account and everything is tied to it.

@Collin Goodwin - Thanks Collin. I'll check it out. I'm reading about it, but it's talking about automation in regards to sending out emails. When I talk about email integration, I'm talking about regular emails coming in and out and being able to tie them to a deal. Not automation, not marketing. Just the day to day correspondence. 

In the image, over to the right, I can take any email and assign it to a deal with the click of a mouse. Then I can go to the deal AJA Test and I can see all the emails associated to the deal. Can I do that in Globiflow? Or Globimail?

One of the NMLS licenses. You should always ask an attorney on which one you need.  Google NMLS Resource Center.

I would suggest seeing if a license is required and avoid those states. IL, GA, KY, WA are a few that I know of off the top of my head. GA is OK if you are buying just a couple in your name, but as a business, you need a license. Talk to an attorney from that state. And you might need to ask if you can conduct business in that state as a foreign entity. Sometimes you are required to register an agent in that state. Real Estate attorneys don't always know that answer.

If you get a land contract, aka Contract for Deed, find out if they are legal. I wouldn't buy a CFD in TX. And MO is fuzzy on how they are handled.

Redemption periods are important if you wind up getting the property through foreclosure. You don't want to have to hold on to it for 2+ years. I think Maine might be the worst, but don't hold me to it.

So find a state you like and learn everything about it. Then expand. As you see, there are a lot of little details that can make a difference.

Job growth.

For me it all depends. I get a mix. I like to get notes performing for that steady cash flow. But I also like rentals. So I do buy notes with deceased borrowers, which means I'm going to foreclose. If the property is underwater and I see value in the property, then I'll go after the property. If it has equity, then I look at the payoff. 

Stating that though, I think a lot of sellers these days are looking at you thinking they can make $50k at auction if they go all the way through foreclosure, or they can sell to you for $50k right now. So when you buy it, you won't make any money with foreclosure. So if you are not getting the right discount, you're going to lose.

For me, it depends. Which signature do I need? If a doc is missing that requires the borrowers signature, I'm not going to buy it. If an assignment is missing, but I can get it replaced or substituted with a missing doc affidavit, I might. What you want to do is be prepared for the borrower to demand the originals. I'm having that happen to me currently. Usually, it starts with a question and answer phase where they ask if you have the originals. Then they can request them if the court process gets to the extreme stages. So make sure you have all the originals from the borrower.

If the missing docs are recorded at the county, that makes it easy. I've lost some docs in the mail, but once it gets recorded with the county, I'm not that worried about it. If it isn't recorded, then I would look to see that the entity that originated the doc is still around to see if they can replace it. If they aren't around, things get more complicated, but not impossible.

So there is my risk factor level.

Borrowers signature needed? Won't buy it.

Doc recorded with county? Will buy it.

Doc not recorded, entity still exists. Might buy it. Depends on the deal.

Doc recorded, entity is gone. Probably won't. Depends on the deal.

We keep our own in a fireproof filing cabinet in the basement. I do not like the two custodians mentioned. The amount of money I'd be spending on them for my files is much more than the filing cabinet.

So you put credit claims on your assets first. That way you are first, which is the most important position. The single member LLCs that fail usually fail because of laziness with the books and the monies and they get mingled. If everything is kept separate, then you are better off. Nothing is full proof. It's just armor to make it more complicated. If single member LLCs were paper thin, then there wouldn't be so many of them. If you don't want to get one, then don't. Why do you think it is a good idea to have an LLC with one aspect of the business, but not the other?

I suggest that you speak to an attorney who specializes in asset protection.