All Forum Posts by: Steve Hodgdon

I'm looking for vacant land. Usually expired listings, tax lien or simply folks wanting to get rid of something they never built on. Has to have a spread to make it work. Typical end buyer is small developer who will buy on terms from me. 

all the above is true. If building a bankroll, land investing is faster. But all taxed at highest rates as a flipper. Buy 5 acres, split into 5 one acre parcels on paper. Cost of survey and submission to county is the basic story. Lots of detail and hazards. But we're buying and flipping in generally 4 months. 

I learned the hard way that I need the capacity to make the first mortgage payments in the event of default. 2009-10 still stings. 

As we know, there's a low barrier to entry in the notes world. No regulation, no licensing, no database. I can't match the offers I see because we run a clean shop and take care of everybody along the way. Including the borrower. Our goal is to help people pay off their houses. And make a decent return for the work. 

NREIG.com has always found a carrier. Not always cheapest, but good platform and monthly  billing.. 

If you are working with seller, is there an assignment of rents clause? Seizing rents will improve negotiation with the tenant/owner. Some moving parts here. 

NSDREIA

Monthly meetings

I was taught that if the property is in an LLC then 100% of income will be counted by underwriters. Individually owned rental income is treated as less stable