All Forum Posts by: Si Chen

thanks!

I'll have to second @Matt Mason's comments.  Don't over think the numbers.  Really understand what strategy is for whatever the market you're investing, and HOW EVERYBODY ELSE IS MAKING MONEY.  Ask yourself:

1.  What do you know that nobody else knows?

2.  Who's the chump at the table?

If the answers are NOTHING and DON'T KNOW, then unfortunately you're the chump who's going to get taken.  

could anyone recommend places to source notes as investments?

I'd add to some of the cautionary notes here.  Be really careful with the "turnkey" properties out there.  Think about it: Who isn't looking for a trouble free, high return asset?  Why are you so lucky to be able to get these ahead of the seller, his family, his friends nearby, and everybody else up and down the street?  The great deals are usually fought for tooth and nail.

But if you think of a way to do it successfully, by all means tell me!  I could use some trouble free, high returns too!

Be really careful with self directed IRA's. Your money is totally in the control of the custodian, and you will need them to sign off on EVERYTHING that happens: a purchase agreement, a lease, an eviction, etc. etc. If they don't want to do it, don't get to it, or just can't do it, there's no way for you to get to your assets.

Has anybody had any success with partnering with long distance investors?  What kind of structure of relationships have worked for you?