All Forum Posts by: Boyd McClean

Look for people with IRA's.

One time payment a year is not very attractive.

You are competing with others who offer monthly payments even if it is interest only.

Borrow from a bank or credit union or use credit card they want monthly payments.

As suggested you need to be using OPM (other peoples money). I see you are from Chicago. If that City does not get it's finances in order you will see significant increase in property taxes. Now what will that do to your cash flow?

Look at folks that have SDIRA's or IRA's for private capital.

If your credit is not good how do you expect to get a private loan for a traditional loan. If you can money thru a private lender why not do that now instead of hard money.

There are a lot of sellers of NPN that don't charge af fee.

Get on buyers list like Granite. google the net you will find them.

If you own the note you can contact, yet there is a proper procedure you have to follow when contacting.

Everytime you contact them you have to ask at least 3 questions to verify that you are talking to the right person.

I ask the following explaining I have to verify for security reason.

Property address they live at

Last 4 digits of SS

Date of birth

If you got someone who has been jerked around by

prior note holder they tend to be hostile at times.

Also many have been abused by bill collectors so

go slow and build confidence.

DOCUMENT EVERY email, letter or phone call you make.

Try an other title company.

Check your State Laws of whether or not if you were sued for whatever reason can your personal residence have a lien filed against it and stick. FL and TX have very favourable laws concerning this matter.

If you are trying to conceal your assets from public view that becomes difficult since you have left a paper trail. Mark Warda (attorney in FL) has written a book on this subject. I do not know whether it is still on Amazon.

Have an attorney write them pointing out their prior history and that they are not licensed and have comitted fraud.Yes you want to clear this up so the bond maybe the fastes way as things of this matter may take a while. Do an asset search to see what they company and owner own. You may have to attach some assets.

Why wait? You will have additional costs (recording fees) when you place the deed under your LLC.

are you figuring per thousand or per dollar?