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All Forum Posts by: Carl B.

Carl B. has started 1 posts and replied 8 times.

Post: Velocity Banking / HELOC Checking Acct - It Works (Proof)

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

This thread got really long due to some factors:

Different goals. Most investors at the time of their writing had low interest rates so their goal was to continue to acquire more mortgaged properties. OP (original poster) also does that but additionally wants to have properties paid off.

Lack of clarity. OP's strategy of velocity banking actually works, but he did not make it clear enough. Velocity banking works because the HELOC or PLOC (Personal Line of Credit) takes time to accrue interest following his withdrawal to pay mortgage early. Before it accrues OP pays back the HELOC with next income. So he's paying his mortgage faster while not paying interest on the HELOC. For this reason it does not matter if the HELOC has a higher rate than the mortgage. Rinse and repeat. OP is winning on both ends.

Post: Morris Invest and Clayton Morris Review

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

His videos are not bad as a resource, but investing in a Morris Invest house is a nightmare. I'm glad I did not fall for it. 

Post: American Note Warehouse

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5
Originally posted by @Paul B.:
Originally posted by @Carl B.:

Let us be mindful that J.W. Warr and James Elton Warr are two different people that at one point in time promoted partials.

Wait, so they are different people? A previous poster said it's the same guy. 

Correction: It's not "J.W. Warr" but "J. Warr". Upon searching again I realize it's the same person as James Elton Warr.

Post: American Note Warehouse

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

Let us be mindful that J.W. Warr and James Elton Warr are two different people that at one point in time promoted partials.

Post: New Member from Joliet, Illinois

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

don't know yet how to erase posting. Please erase this one.

Post: New Member from Joliet, Illinois

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

Thanks you all for the positive response. This article continues the exchange with @Account Closed to give us feedback on the perspective of builders. http://realtormag.realtor.org/daily-news/2014/02/07/builders-ready-ramp-up-production-in-2014

Post: New Member from Joliet, Illinois

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

Yes, the market for vacant lots has a long way ahead. But the key is to buy discounted lots because they sell in any market, though now for a reduced profit.

Post: New Member from Joliet, Illinois

Carl B.Posted
  • Investor
  • Crest Hill, IL
  • Posts 8
  • Votes 5

It started out as a hobby for me in 2012. In January of 2014 I sold my first lot. I buy and sell vacant lots, for now at least. My next project is to sell some contiguous lots I own.