All Forum Posts by: Paul Riley

Any landlords in Kalamazoo, MI?

I have an REO I'm looking to offload.

Would love to connect

@Scott Holland

Hi Scott,

Sorry I haven’t been on here in a while. I’d be happy help however I can.

@Chris Seveney

I hear you!

With there being so much upside in case of repossessing the property I couldn’t resist.

On a good day, it could be worth closer to $140k

Closed on a non-performing Contract for Deed (CFD) recently in Statesville, NC!

Here are the numbers

Property value: $110k+

Balance: $50k

Purchase Price: $30k

With a typical note, you only get paid out on the total balance. With a CFD, since your company is on the deed, you repossess all the equity.

If the borrowers get back on track, it’ll be a 14% yield.

If we have to foreclose, it’ll be a nice spread on the backend 👍🏻

Happy answer questions if anyone has them. Hope it’s helpful!

 Hey Ana,

Real estate notes are when you buy the debt secured by the property. Instead of making the mortgage payments, you receive them. If the borrower stops paying, you can foreclose on the property. 

Feel free to reach out of you have more questions!

Hi @Lindsay G.

It sounds like a more passive approach is what you're looking for. I'd recommend passively investing in syndications and/or lending on RE investors' projects.

If you start actively doing deals, just be prepared to put a lot of time and effort into it.

My favorite "passive" asset are performing notes. You get the monthly cashflow of a rental without the headaches of repairs or property management.

Hi @Aaron Bito

It sounds like you're looking for something more passive with a steady return. In my opinion, performing real estate notes are the best way to achieve this. You get the monthly cashflow without having to deal with property management or repairs. 

You could buy 1 or 2 performing notes with $100k. Backed by real estate worth even more. Everything has its pros and cons but it worth looking into!

@Antonio Coa

I'm not sure how active you want to be in your deals, but my favorite asset class is investing in real estate notes. You get the monthly cashflow without the headaches of property management, tenants or repairs!

Hi @Account Closed,

Congrats on your success with this deal!

If you can do a cash out refi and still have the property cash flowing with the new rate, then I think it's something you should really look at.

You'd then have some tax free capital go out and get your next deal.

I personally think investing in real estate notes would be a good way to go but that's just my thing!

@Ana Franchi,

If you're wanting cashflow, then my favorite asset is performing real estate notes. You get the monthly cashflow without the headaches of property management or repairs.