All Forum Posts by: Jonathon Weber

 Cash is the most powerful think on this planet. There is no competing against it. I would advice to learn how he came what he is now and work to replicate it. Who cares if his personality is rough, cash is king for a reason - there is nothing that tops it. 

If I had $1M in the bank and went to Wells Fargo and told them I want to buy $1M in notes, you think they would turn me away? Heck no! 

Show me a multi millionare that was once broke that only worked a few hours a day a day and did it between 10am to 3:30 pm and I'll show you a liar. 

You have to find the real estate agents that know who the rich buyers are. They tend to deal in privacy. 

For seeking investors worth multi millions, good luck on that. That is NEVER easy. They usually have a person or a company that manages things for them and they are the go to people to eventually present a deal to the intended target. 

The richer they are the harder they are to speak with. 

Solo 401K - you get to make the investment decisions instead of the brokerage. Enjoy!

This is how you can convert ordinary income from a business into passive income. For this it’s not how much you own that matters, it’s how much you control. This is the rule to use to convert at least part of your business income into passive income. All we have to do is to give part of your business to a member of your family who doesn’t work in the business. When we do this, their share of the income from the business is passive income. Then, we also give them a part of the real estate that has passive losses. Now, their share of the real estate losses will offset the passive income from their share of the business.

 I've spent my entire adult life building my professional career to the level it is now. It was a living %^&& to get to this point, but now that I am finally here it is actually easy now to continue to grow my income. I have no interest in letting the government take all of the tax it could take from stupidity on my own end so I am learning everything I can about wealth creation, risks, and movement that rich people can make to decrease their tax liability. 

The reason Trump doesn't realize tax returns is because he doesn't pay much in taxes. Rich people that are smart do what they can to avoid paying taxes since it's completely legal to do it. 

The reason I have little interest in buying homes is two fold - low returns and having to deal with a lot of crazyness (toilet issues, people not paying rent, etc). Instead I would rather take the skills that I have developed all of my adult life and take that into note investing and build a generational legacy of wealth for my family. I will easily be able to relate to people are have a non-performing note and I'm confident in my skills that I will get some people to get the note back to performing and save their lives. 

I'm not doing this to be one of the "I just want to replace my income so I can leave the rate race". F that! For how much work it took to get here I am NOT leaving that and have no interest in talking to people who want to do note investing or real estate to replace a job. 

I'm more than happy to talk about tax and financial moves to lower tax liabilities for a person that is maximizing their income potential. 

I would rather finance the entire development costs of a low income home for $115K and split 50-50 with the developer for a sale price of $175k and bank that money and repeat it with several homes a year.

Yep. That is why he pitches Cardone Capital to lower income folks and not the super rich. Get them to believe they need to earn more (they do) but the avenue to making more is to use his tool - Cardone Capital. It's simply a legal sales pitch he does like his Cardone University. 

I know what the guy is doing and don't hat him for it, but there are plenty of people out there that don't realize that the $50M plane was a tax move paid by the company, not himself. Smart people like Ben Mallah will rent out a private plane for a thousand dollars for a real estate deal, not spending $50M as a tax move. 

I have my doubts Grant even uses 1031, but he might. 

I've ran the numbers on what giving him $400k would do for me. It's doubtful it would even make me $24K a year. I can make more than that by buying a single note and for $400k I could make a lot more than $24K in one year. 

Many states have laws about what an investor can and can't do when homeowners are behind on their payments and in the pre-foreclosure stage.

By the time a pre-foreclosure home is listed by the real estate agent the home would like be sold at market value. Banks must approve a short sale for a short sale to take place, and banks hire appraisers and other real estate agents to perform broker price opinions (BPOs), or estimated values of the home.

The goal would be to negotiate with the seller before the home becomes a short sale. 

To find a pre-foreclosure home, buyers can search popular websites that pick up feeds from an aggregator or they can pay for the feed. Some foreclosure websites publish pre-foreclosures as well. If you have a lot of time, you can contact each of the homeowners to find out if any of them are interested in selling.

You can contact your county court to see how you can search for notices of default. These homeowners are probably not delinquent, although they might not be able to sell without doing a short sale as they might have no equity. 

If you're buying a home in pre-foreclosure, keep in mind that you're buying it as-is. You'll need to cover inspections and repairs. It may take more time for the lender to approve of the sale.

Relationships will always trump technology. House purchases online will continue to grow and hedge funds and people with a lot of cash will continue to increase their frequency in buying homes to capture equity, especially after a downward period of prices, but there will always be the relationship with folks that can get you deals.