All Forum Posts by: Steve Hodgdon

1031 into properties you have more faith in. If there aren't any, ride the dip. I'm following John Schaub's advice. Sell or trade the worst house (even if better % yield) and 1031 into a better house. 

Counter party risk is a real thing in the note space. Experience? References? Simple Google homework is a start. One NPN? Then why a tape? Listen to folks like @Chris Seveney podcast or Dave Putz at JKP Holdings. 

@Bob Malecki s partner has a good beginning investor book. 

I'd sell you one of mine but I'm having too much "fun" practicing my collection skills. 

I dove in. Sold a strip mall in 2015 and bought 26 first lien performers. But I have 35 years credit and collection experience and have been a landlord for 20 years.

Yes.  Pete Fortunato. One of the great teachers.

I learned to ask "What are you going to do with the money?" And then the hardest part is I have to shut up! If they don't want to loan on their property, I have something else they might like. 

Anybody know who taught me this? :)

I'm in Marin and know both towns pretty well. Fringes of both have great opportunities. The City of Richmond has a pro development mission.  With the ferry, they see a renaissance coming. 

I've been buying and selling notes. Done some seller finance and new home construction. Learned not to be a yield junkie and understand risks better. Chronicled my journey in a monthly MeetUp call. Not selling anything. Just sharing experience and hope to help the community avoid my mistakes and make some new friends. You can find me on YouTube by searching www.youtube.com/stevehodgdon 

@Andy Mirza  Yes, reserving anticipated expenses is often overlooked. I write checks post purchase and it always feels like "bad money after bad". But if I actually allocated at beginning, I'd at least have a better mental image. 

As always, you have great well thought out contributions to the forum. 

40 years of credit and collection experience, 20 years of commercial land lording, 20 years of debt buying and I'm still not sure I know enough to start a fund. 

@Nathan Frey You'll find lots of good info and perspective on the BP note forum. There are stories of home runs and ponzi schemes. For me, I like my entity interest to be recorded. So I buy one by one. Don't know that it matters if you pick funds that you're confident with. @Bob Malecki is somebody I trust. Read threads here to get your own sense of who's right for you. @chris 

@Chris Seveney and @Dan Deppen are good to follow too.