All Forum Posts by: Derek Petersen

I'm in North County San Diego so I think BRRR works for Oceanside, Vista, Escondido, and similar priced areas. You need to pick up the properties that require more rehab and the seller does not want to finance the rehab to sell retail. Net cash flow negative is a risk at this market cycle but if you have reserves to cover the negative for years then it could pay off in the long run. Just not my acquisition model.

"What's Working Today in the Note World" Gerald Lemoine
President, The Lemoine Group

7:00 PM, Thursday, March 9 2017
(Networking starts at 6 PM)
$20/person

Shadowridge Country Club

1980 Gateway Bay Drive
Vista, CA 92081

Hello Fellow Note Investors!

This month, we welcome Gerald Lemoine, President of The Lemoine Group, LLC, one of the top buyers and sellers of performing and non-performing notes in the industry.This month's topic is:

"What's Working in Today's Note Industry"

When most note investors are complaining about being unable to find deals, The Lemoine Group is having a record breaking year. Gerald will discuss how they're finding deals and how they're structuring them. He will review case studies on several notes that have been recently resolved. This presentation will be valuable to the beginning note investor as well as experienced note investors.

Topics covered will include:

• Where they're finding notes
• Using partials to raise capital
• Using JV's to raise capital
• Increasing yield with creative deal structure
• Entity structure
• Examples of contract documents
• Case studies of completed note resolutions

Learn from a recognized expert note investor that's currently very active in the field. Find out what types of note investments fit you and how to make above market returns.


http://TheLemoineGroup.com

About Gerald Lemoine:
As an experienced note investor, Gerald is an expert at acquisition, management and liquidation of performing and non-performing notes nationwide. To date, he has been involved in the acquisition and resolution of over 500 notes with a unpaid principal balance (UPB) of $65 million. With an emphasis on Partnering and Joint Ventures he has achieved success in raising capital and producing impressive returns for his partners. Gerald has been involved in real estate since the late 1990's, first as a developer, then later with rentals and the purchase, rehab and sale of investment properties. Prior to the real estate business, Gerald was a project manager for a global heavy industrial general contractor.

Other:
Since this is a club with a great mix of beginning and seasoned investors, it's a great place to mix and share your real estate and note investing experience and learn from others. PLUS, if you have a deal or looking for one, come to participate in our "Haves and Wants" session where you may pick up a deal or a joint venture (JV) partner. We hope you can join us this coming Thursday at Shadowridge Country Club in Vista, CA.

Map: https://goo.gl/maps/889Pq

BONUS: We will have a drawing for a free 15 – 30 minute private telephone consultation with the speaker of your choice on any subject you want.

Admission: $20/person (cash, credit, check)

6:00 - 7:00 pm Check-in, Networking, Refreshments
7:00 - 7:15 pm Intro, News, "Haves and Wants" and Deal Profile
7:15 - 9:00 pm Speaker

You will get early e-mail notification of meetings when you sign up as a member of this meetup group. Just go to www.meetup.com and search for San Diego Note Investors (www.SDNoteInvestors.com)

We’re looking forward to seeing you at the San Diego Note Investors Meetup!

Meetup Note: The San Diego Note Investors invite experienced investors and note industry professionals to discuss all areas of the real estate note business. Our goal is to facilitate education and networking between note investors, new and experienced. If you've been a real estate investor, the world of notes is a natural progression for you. Learn why other strategic real estate investors are adding the cash flow provided by real estate backed notes to their portfolio.

How to Manage a Note Portfolio and Find Notes to Buy

Matt Kelley (Special Default Services)

7:00 PM, Thursday, February 9, 2017
(Networking starts at 6 PM)
$20/person

Shadowridge Country Club

1980 Gateway Bay Drive
Vista, CA 92081

Hello Fellow Note Investors!

This month, we welcome Matt Kelley, foreclosure expert and one of the top buyers and sellers of performing and non-performing notes in the industry. This month's topic is:

"How to Manage a Note Portfolio and Find Notes to Buy"

About Matt Kelley:

Matthew Kelley is the Supervisor of a specialized foreclosure unit, Special Default Services, within Trustee Corps based in Irvine, California. He represents many of the top mortgage companies, Credit Unions, Law Firms and investors throughout the United States. Presently, Matt manages an elite foreclosure unit providing default services to private beneficiaries, commercial lenders and all high liability foreclosures within states serviced by Special Default Services and Trustee Corps. As a guest lecturer and seminar provider, he has advised some of the largest mortgage servicing companies and beneficiaries throughout the United States. On many occasions Matthew has been called upon as an expert witness in the fields of foreclosure, default and loss mitigation. Beyond supervising Special Default Services at Trustee Corps, he is the Asset Manager for Notes on www.bidbiddirect.com.

Some of the topics Matt will discuss:

• Risk Management and reducing legal exposure
• Loan underwriting
• Tax strategies for note investors
• Vetting note sellers
• Where to find notes to buy

Matt's experience overseeing tens of thousands of foreclosures and purchasing multiple portfolios of notes makes him one of the most knowledgeable note experts in Southern California, and we'll have a Q+A at the end of the meeting for you to ask Matt any note investing and foreclosure related questions.

Since this is a club with a great mix of beginning and seasoned investors, it's an excellent place to mix and share your real estate and note investing experience and learn from others. You can join us this coming February 9 2017 at Shadowridge Country Club in Vista, CA.

Map: https://goo.gl/maps/889Pq

BONUS: We will have a drawing for a free 15 – 30 minute private telephone consultation with the speaker on any subject you want.

6:00 - 7:00 pm Check-in, Networking, Refreshments
7:00 - 7:15 pm Intro, News, "Haves and Wants" and Deal Profile
7:15 - 9:00 pm Matt Kelley

You will get early e-mail notification of meetings when you sign up as a member of this meetup group. Just go to www.meetup.com and search for San Diego Note Investors (www.SDNoteInvestors.com)

We’re looking forward to seeing you at the San Diego Note Investors Meetup!

Meetup Note: The San Diego Note Investors invite experienced investors and note industry professionals to discuss all areas of the real estate note business. Our goal is to facilitate education and networking between note investors, new and experienced. If you've been a real estate investor, the world of notes is a natural progression for you. Learn why other strategic real estate investors are adding the cash flow provided by real estate backed notes to their portfolio.

I wouldn't move anything out of a ROTH. Contact your CPA before you do anything. If it was me, I would:

1. Roll into a self directed account

2. Decide what return I need and whether I want to be passive or more active

3. I like hard money lending because you can take smaller amounts and be part investor in the note (fractionalize). No money in a pool that lends, make sure to be a direct investor and recorded on the deed of trust.

4. Learn flipping while watching others while being in a safe position (65%LTV) and earn 9-11% on your money.

Get a big Umbrella policy and strip your equity with ELOCs if you're buy and hold. If you have a company by all means incorporate.

Yes, and still working full time. Don't quit until you have used up all that cheap 30 year fixed rate money!

@Thomas Hopkins,

There's many local investors in San Diego that would be happy to advise and help you out. First thing I would do (if you haven't already) is mix with the right people. Attend NSDREA in Vista, FIBI in Del Mar, and SDCIA in San Diego. A mentor is great but take advantage of these clubs imo.

Real Life Bankruptcy Pitfalls and Creative Solutions for Note Investors

Thursday, January 12, 2017

• 6:00 PM

• Vista, CA

  Shadowridge Country Club

  1980 Gateway Drive , Vista, CA (map)

• 

  "Real Life Bankruptcy Pitfalls and Creative Solutions for Note Investors. What's the worst that could happen and how do I avoid it?" Josh Scheer

  Principal, Scheer Law Group

  7:00 PM, Thursday, January 12, 2017

  (Networking starts at 6 PM)

  $20/person Shadowridge Country Club 1980 Gateway Bay Drive

  Vista, CA 92081

  About Bankruptcy:
  
  Mr. Scheer will discuss bankruptcy cases, rule changes, and controversies that may affect your investing strategies or at least the way you analyze loans that have been or may be subject to bankruptcy proceedings. He will address recent cases relating to creditor rights in bankruptcy, including the allowance of default interest, proof of claim requirements, lien strips, cram downs, “Chapter 20’s”, repeat filings, bankruptcy “hijackings”, and if/when you can recoup your fees and costs as a creditor in bankruptcy. More importantly, he will discuss specific “real life” scenarios and creative ways to avoid the “worst case scenario” for a note investor.
  
  
  About Josh Scheer:
  
  Mr. Scheer is a principal of Scheer Law Group, LLP (SLG). Mr. Scheer graduated from the University of California, Santa Barbara (B.A. 2001), with a degree in Political Science. Mr. Scheer earned his Juris Doctor Degree from Suffolk University Law School in Boston, MA (2005). While attending law school, Mr. Scheer worked as a legal intern for a certified NFL agent, assisting in the negotiation and preparation of contracts and endorsement/marketing deals for professional athletes and musicians.
  
  Mr. Scheer heads up the SLG Southern California office. He manages the SLG consumer litigation and bankruptcy department and assists Note investors with loss mitigation, transactional, litigation, compliance and regulatory issues. He has trial and law and motion experience in state and federal courts. His main focus has been on all aspects of creditor transaction and litigation matters in state and federal courts, including: Chapter 13 and 11 plan review and litigation, collection litigation, lender fraud litigation (defense), and real estate transaction work including preparation of loan workout agreements, forbearance and loan modification agreements. Mr. Scheer is admitted to practice in all California state courts and in all Federal District and Bankruptcy Courts in California, including the 9th Circuit Court of Appeals.
  
  Mr. Scheer is a past chair of the Real Property Section of the Marin County Bar Association and an active member of the Orange County Bar Association. He has been a featured speaker at various events including the Sacramento Valley Bankruptcy Forum, the California Credit Union Collectors Council, the Credit Union Compliance Professionals, the Marin County Bar Association, and various Note and Real Estate Investor groups, speaking primarily on creditor’s rights in bankruptcy and significant developments in insolvency law. In 2015, Mr. Scheer moved to Newport Beach with his family to head up SLG’s growing Southern California office.

  Other:
  Since this is a club with a great mix of beginning and seasoned investors, it's a great place to mix and share your real estate and note investing experience and learn from others. Plus, if you have a deal or looking for one, come to participate in our "Haves and Wants" session where you may pick up a deal or a joint venture (JV) partner. We hope you can join us this coming Thursday, January 12, 2017 at Shadowridge Country Club in Vista, CA.
  
  Map: https://goo.gl/maps/889Pq
  
  BONUS: We will have a drawing for a free 15 – 30 minute private telephone consultation with the speaker of your choice on any subject you want.
  
  Admission: $20/person (cash, credit, check)

  6:00 - 7:00 pm Check-in, Networking, Refreshments
  7:00 - 7:15 pm Intro, News, "Haves and Wants" and Deal Profile
  7:15 - 9:00 pm Josh Scheer
  
  You will get early e-mail notification of meetings when you sign up as a member of this meetup group. Just go to www.meetup.com and search for San Diego Note Investors (www.SDNoteInvestors.com)
  
  
  We’re looking forward to seeing you at the San Diego Note Investors Meetup!
  
  Meetup Note: The San Diego Note Investors invite experienced investors and note industry professionals to discuss all areas of the real estate note business. Our goal is to facilitate education and networking between note investors, new and experienced. If you've been a real estate investor, the world of notes is a natural progression for you. Learn why other strategic real estate investors are adding the cash flow provided by real estate backed notes to their portfolio.

I attend NSDREI so look for me there. Would be interested in meeting up for coffee to exchange info. Derek

Pick up the book Landlording, by Leigh Robinson, maybe Nolo's Rights and Responsibilities, and First Tuesday has all the forms.