Some investments do not require expert advice. Your gut should lead you.
Anyone with a brain would know better. So ask yourselves, what did I do
to deserve this? Want to read a real estate investment deal I'm very proud
of? You'll find it by looking around in my profile where I start but do not
finish a book on how I earned over a $1 million dollars without cash or
credit from scratch, in a year, on a commercial real estate deal. Now, of
course, I'm pretty proud of that experience and more than willing to share
it. Hopefully you don't need my experience setting up a girlfriend in her own
coin laundry.
It's times like that past five years, I could have been out there slugging
and earning a 6 maybe even a 7 figure income. But, something kept
me from it. I think I was still pissed off how the banksters were all bailed
out of their bad deals and the rest of America's citizens were told to go
pound sand.
But, in hard money lending the more folks need you, the tougher the
times, the better money you actually make. Just the nature of the business.
The more people need money and expert advise the more they'll pay for
both. Working in the bay area, East Bay, for those who know it, loan
volumes are good in both boom or bust cycles as it's a numbers game and
there are plenty of people needing money. So you learn a few things.
Anyway, with over 20 years of licensed, hard money activity, with no charges
filed against me in 2 states, Hawaii and California I feel I'm qualified to give
some real estate finance advice.
Before I do that, I thought I'd take one more page from my Investor
Deal Diaries. Must have been 7 or so years ago, I went to work for a large
national mortgage company, headquartered out of Sarasota, Flordia,
I believe. They were called Nations Mortgage. They used large telephone
rooms (100 or so phones) and hired mostly women to call for loan leads.
When I started, even though I told them I had solid loan experience and
had already done loan business in two states, they still started me on the
phone, working with all those women. It was not that bad of a deal, I
admit and within a couple of weeks I had received an award as top
producer over the entire group of them. Someone, somewhere above
me figured out, "hey this guy really does have some background", and
I was promoted to a loan officer. Strange to me, here were were in
Northern California making leads in Florida and New York. These were
conventional mortgage deals, mostly refi. So I became the "go to guy"
regarding "hard to fund" deals. Even though no one else seemed to
know how to package them or where to get the money for them, they
saw the promise of these deals, the profit and encouraged me to go
ahead and do them. But, even though, as a salesman, I had a Calif.
license, it seems to me they had a problem finding their own California
broker as when I came time to actually fund my deals, ( I had about
five loans lined up) they couldn't finish the deals. Finally, a big shot
from Florida shows up, calls me into the office and fires me for doing
hard money California deals instead of Florida and New York loans.
I was amazed and ticked off again. The ladies at the call center
said they heard me slam the door to the bosses office so hard that
all conversation in the call center stopped. It took me a day or two
to regroup, before I realized, hey, these guys just did me a huge
favor. I had 5 hard money deals and as soon as they were funded,
I had control of all the commissions earned. (Minus the 10% deal I
made with a local broker. Better that the 50/50 split I had been
promised by Nations. For a few days, I pulled my mustang
convertible into Nations parking lot, parked out in front of the building
where all those phone ladies could see me. Put my office globe of
the earth up on the trunk of the car, so any fool could see I was at
my mobile office conducting loan business on my cell and I started
funding each loan. Before the week was out I had earned about
$35,000 dollars.
Greece...Let's talk about Greece. If you are going to invest in any-
thing you need to understand what's happening in Greece. Let me
start by saying. It's not good. In fact, it's very bad. It's so bad I
and a lot of others, many with far better backgrounds that I, are
saying It is time to pull all investment money out of paper. I've
always liked real estate myself, because I understood it. As soon
as I realized they can manipulate it's value too, it did not interest
me as much. Well, you're in Las Vegas playing poker and everyone,
you notice, is cheating but you. How long are you going to last in
that game.
[SOLICITATION REMOVED]
Blessings,
Earl Allen Boek
