All Forum Posts by: Steve Hodgdon

Quote from @James McGovern:

Quote from @Steve Hodgdon:

You could find a local passive investor who would partner 50/50 with you. 

 Got any suggestions on how to go about finding this local passive investor?

local REIA group. Look for local SDIRA group. Ask your CPA. Doctors and dentists have cash earning 4% in the bank. Anybody over 50 driving a nice old car. Your landlord, chamber of commerce. I fund deals as a full time job. I borrow money at 13% now if I can make 25. I always match my money with theirs

Quote from @Edgar U.:

I am located in Virginia and invest all over the state. If you provide a general idea of what you are looking for, my team and I could take care of the acquisitions for you. 

 We basically buy for 1/2 of market and sell for 80% of market for quick sale. We like simple paper lot splits. Must have good physical and deeded access, no wetlands, not much slope, no flips from other wholesalers. We do some very basic development. Clearing, ordering surveys, soil tests. Generally no houses but we have done some mobile home flips recently. We also sell on terms. Price point $20-$100k 

Quote from @Jay Hinrichs:

Quote from @Steve Hodgdon:

Hi @Elvis Witcher  We run a land flipping biz. If give me a "buy box" I'll connect you and the acquisition manager. We've done a lot of deals in the Carolinas. We came into land from doing mobiles, rehabs and now do a few modular projects each year. 

steve do we need to have a meeting I cant remember if we followed up or not ?? 

 Jay - we both got busy. I'm pulled in too many directions. Sent you a note asking to get on the phone next week. thanks. 

You could find a local passive investor who would partner 50/50 with you. 

Hi @Elvis Witcher  We run a land flipping biz. If give me a "buy box" I'll connect you and the acquisition manager. We've done a lot of deals in the Carolinas. We came into land from doing mobiles, rehabs and now do a few modular projects each year. 

@Dana Yobst  I use TLO, which is now a TransUnion product. I don't think they do one off searches. You can get public record like criminal and civil actions.  He's still in business?  Looks like you can pay $49/monthly for education. If I did that with a bank transfer I'd know at least one bank account to attach. The Order of Examination process is lengthy because of court backlogs. Failure to provide requested documents can result in a contempt of court citation. That was helpful when I ran the agencies. Likely he's crossing state lines, so you could turn this into a federal judgment. That makes it easier to attach assets in multiple states. Otherwise it's more paperwork for each attempt. You're obviously not alone. So if an asset is already attached you can't jump ahead. If all the entities are held by others, then it gets even harder. You have to follow the "debtor of my debtor" theory.  Maybe a few of you get together and hire a private investigator? But only after you've zeroed in on where he is. If you can serve him with a subpoena for records then you have some leads to chase. Remember, he's better at hiding than you we are at finding. 

I've done some tax DEED purchases. Used Tax Title Services to get a policy that Old Republic would accept.

Quote from @Chris Seveney:

@Dana Yobst

I thought his wages were being garnished ? He is still extremely active on YouTube with his note stuff.

Have you spoken to a different attorney on ways to recover ?

Garnishments have a max amount that you can take from a W-2. Commissions are fully attachable. Experienced debtors play games with different entities, bank accounts, straw man owners. If he or company is in bankruptcy you may be at the mercy of the trustee. Claims normally paid prorata with priority to secured lenders. Debtors can go in and out of bankruptcy and add years of debt avoidance. 

Quote from @Dana Yobst:

For those who have collected money from Carson, how did you did? I won a judgement years ago, have ben in line with multiple receivers and still....nothing.  I don't want to throw good money after bad and I am infamiliar with criminal cases but it feels like may be better suited for criminal law. 

 I used to own collection agencies. Where is the judgment entered? State? here in CA judgments expire after 10 years. But you can renew at 8 1/2 years. Interest gets added to principal and you have another 10 years. You can domesticate to where he is. You can attach income streams. There there's a thing called an order of examination. I liked with "subpoena duces tecum" thats records. I was taught to ask for bank statements, pay stubs, utility bills on and on. People would give in and pay. You're going to have to do the digging. It's not profitable for a contingency collector to take on a debtor like this. Likely he has more experience at this as the note business guru. BTW bought my first note years ago from one of his students. An expensive "seminar". 

I’ve been in CA a long time. Betting this market is flat for 5-10 years to absorb the 50% inflation from Covid $. 
My brother in law bought a rental from me in Pensacola to house his Jamaican roofing crew.