All Forum Posts by: Joe C.

@Kristyn Grimes

I’d be interested in joining a Zoom meetup.

@Timothy Church

Looks like I’ve missed the meetup. Would be interested in future meetups.

Welcome @John Nguyen. I’m also in Katy and still consider myself new since I don’t have any rental units yet.

@Cody Rice

Check out this thread on college town investing during COVID , if you haven’t already:

https://www.biggerpockets.com/topics/905208

@Cody Rice

College Station/Bryan is also in my radar and I am also concerned about the fact that the area’s economy is heavily influenced by the campuses. Following.

It's inspiring to hear success stories such as yours. 0-down is not as elusive as I thought. 

I also love the use of balance transfers for real estate investments...except in my case it has been for notes. Works out great if the ROI is greater than the 3% transaction fee and 0% interest. That 3% can translate to just 1.5% if you have 2 years to repay the balance. This only works if we keep the payments on-time otherwise the rate can sky rocket.

My wife and I both grew up in the Bay Area so almost all our family are here. The weather is great, too.

Recently we have been considering relocating to Houston so our young children can get into better schools at more affordable neighborhoods. As a bonus I think it would be easier to cash flow with buy and holds there. Also, I love fishing and as it appears the fish there are so much bigger! They seem to have quite a lot of outdoors activities in relatively close proximity. I could also try planting various tropical fruit trees there where it would not work here in the Bay Area. So many good reasons for relocating but the one reason holding us back, family, is a very strong one.

Like someone earlier in the thread had mentioned, perhaps the passive cash flow that could and would be built in the more cash-flow-friendly market will support extended visits back home with all the family.

Nonperforming 2nds can be very profitable. I suggest starting out with a few practice notes. Personally I think this type of investing requires a more hands-on-learning approach.

Like many have stated, the idea is to buy a non-performing note at a discount, contact the borrower (within consumer protection guidelines), negotiate a win-win-win solution, collect payments.

The idea of it sounds easy enough, but the actual practice will require much more in depth understanding of the rules and regulation as to what you can or cannot do.

Suggested Reading, Fair Debt Collection Practices Act: http://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-debt-collection-practices-act-text 

I personally like the NPN 2nds a lot. Easier to get into as far as funds requirement. Margins can be sky high, but realistically above average. It can be riskier than most other investments but if you learn to buy right and the tricks of the trade, you can mitigate much of the risk. Sometimes knowing the laws can help turn some risks to favor you.

I have bought from FCI. All the notes that I bought from them, except for one (still working on this), have been worked out with positive results. In fact, my very first workout was on a note bought from FCI and it is my best workout to date.

You can find sources for notes by attending trade shows and conventions. Great places to find and network with the vendors and other fellow investors, too.

congrats @Andrew Notarfrancesco