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All Forum Posts by: John Hodson

John Hodson has started 9 posts and replied 76 times.

Post: WANTED: An Honest RE Mentor in Los Angeles

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Mark Nolan:

@John Hodson

While I'm not located in Los Angeles, I'm located in San Diego so I would be happy to provide you with information regarding the solo 401k . For information regarding the solo 401k feel free to send me an email or call me; of course, I don't want to step on your self-directed solo 401k providers toes. I'm always happy to educate individual's on the solo 401k investment rules.

 Thanks Mark! I sent you a colleague request. 

Post: Going about investing in Notes using SD 401(k)

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Dmitriy Fomichenko:

@John Hodson

I know that you are anxious to make your first investment, but you should slow down a little and start learning and building relationships. Then after you built some relationships you'll start seeing the opportunities. 

 Thanks Dmitriy. Great advice. I am seeing the network help support that desire.

Post: WANTED: An Honest RE Mentor in Los Angeles

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Account Closed:
John Hodson I am young and passionate like yourself and would love to help you in the buy and hold department. I've been doing this for about a year now and seen both good and bad. Their is so much to learn that you probably don't even realize. You can hear my story with recent podcast I did with Joe Fairless at http://joefairless.com/blog/podcast/jf349-how-to-find-a-lender-to-suit-your-investing After that message me and let's connect. I am a big believer in "paying it forward"

Hi Joey, I listened to your podcast and I appreciate your transparency on your experience in REI. I'll send you a message. Thank you for paying it forward. That's awesome.

Post: WANTED: An Honest RE Mentor in Los Angeles

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Brian Gibbons:
Originally posted by @Dmitriy Fomichenko:

John, you should reach out to @Brian Gibbons, he is the expert I would recommend. 

Dmitriy Fomichenko, you are too kind.

@John Hodson

I give 30 min consultations for free

See what other BP Members say about me

http://www.biggerpockets.com/search?utf8=%E2%9C%93...

Best wishes to you,

Brian

Studio City

 Thanks for the introduction Dmitriy!

Hi Brian, Yes, I will take you up on that offer. I'll message you. People have good things to say about you. Thanks!

Post: WANTED: An Honest RE Mentor in Los Angeles

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Curt Davis:

You should check out the local REIA clubs in your area for education and networking. You will have a hard time finding a true mentor as the people who you would want to be around are usually too busy and the ones that do have the time are looking for your money.

Good luck

Thanks Curt! My wife and I will look into REIA. Thanks for bringing it to my attention. I am realizing that the true mentors will need compensation for their time and I don't blame them. We definitely don't want to throw our money away for information that is not helpful or too advanced for where we are at. Thanks!

Post: WANTED: An Honest RE Mentor in Los Angeles

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11

Hi BiggerPockets Team!

My wife and I are getting into Real Estate Investing in Los Angeles. We have always heard to get a mentor we should either bring them money or bring them deals. We are tight in the money department (though we are also looking to invest our Solo 401(k) in tax liens, etc for our retirement). But what we do have is time and skills: My wife is getting her RE Agent license now and I am a Graphic Designer, Illustrator and jack-of-all-trades in advertising. She will start work at an agency within the next two months and I will continue to work my day job and weekend job to help pay for things.

Is anyone willing to take on a couple of newbies who are gung-ho about real estate? We would love to learn how to flip and wholesale as well as buy and hold. We just need the practice and guidance to get us started. We're making headway in our journey to REI success and have been tempted by "gurus" who want our money...we've been to a high-pressure sales pitch seminar and walked away with our wallets still secure. ;)

If you can point us in the right direction or make a suggestion on a meetup group to join, we will take action. Thanks All!

Post: Going about investing in Notes using SD 401(k)

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Mark Nolan:

@John Hodson

@John Hodson

Investing in notes is a popular self-directed solo 401k investment. I invest about 20% of my portfolio in trust deeds. You may consider reaching out to some land developers and real-estate agents for list of borrowers. The company that you opened the self-directed solo 401k with should be able to provide guidance regarding how the investment should be titled, however, the 401k name and the trustee's name should be listed. The note terms depends on the solo 401k trustee and the borrower (what you both negotiate).

Thanks Mark. I'll ask more questions to the agency I opened my solo 401k with and keep learning the basics before I jump in.

Post: Going about investing in Notes using SD 401(k)

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11
Originally posted by @Patrick Desjardins:

Yikes, looks like you're really starting from scratch. The last thing you should do right now is buy a note as it sounds like you have no clue what to do with them.

I'd recommend you seek out some of the newbie friendly conferences to get acquainted with the lingo, the vendors, the basics.

Most of them are junk but if you want to look at notes and get a feel for them, you can look up the exchanges such as FCI and Watermark.

Thanks Patrick. I am planning to take a class on notes and learn more about them. I looked up FCI and Watermark based on your recommendation. Okay, now I know I need to learn more because there is a lot of lingo to absorb. I appreciate the direction!

Post: Going about investing in Notes using SD 401(k)

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11

Hi Community!

I'm just getting started with my SD 401(k) and my first plan of action is to invest in notes as a way to get my feet wet. My questions are: Where is a good place to look for notes (I don't even know)? When I write the check out of my SD 401(k), am I investing the money to an individual or what? Is there a typical investment period with notes and how long are they?

Thanks everyone!

Post: HAPPY DAY OF BIRTH, BRANDON!!!!

John HodsonPosted
  • Rental Property Investor
  • Montrose, CA
  • Posts 77
  • Votes 11

Happy Birthday and Anniversary @Brandon Turner! Thank you for your wit and wisdom!