All Forum Posts by: Vina Real

@Mark Cruse I don't think I'm allowed to say.

@Jibu Vergis Yes, that is after all the expenses/reserves.

Rent $1450

Cash out Refi at $117k

PITI $757

Capex, Repairs, Maintenance at 8%

$ 348

PM at 10% (although I self manage) 145

Profit $200

@Natalie Schanne As far as the case is concerned, I am not giving any more info on that except that I filed a case against him. He has time to reply to the case.

The property I bought from him before the note is doing pretty well. I'm on my second set of tenants where the first ones stayed for 2 years. I am cash flowing $200 after all expenses. I bought it for $62867.54 rehabbed for 25k and renting it out for $1450. Although tenant turnover is a bummer, I should say this is a good beginner property. Not

homerun but at least i got started.

@Jay Hinrichs Yes, sir and Thank you for your informative posts on the forums. I really appreciate it!

@Jay Hinrichs And that's what I did, I gave him an unsecured loan/promissory note from my SDIRA. And that's what other loans from my account consist of.

@Justin Robert for funding of his rental/flip business.

@Justin Robert It was a promissory note made from my SDIRA without an asset.

@JosephH I bought the property from him 1 month before the $50k note was written. So it's definitely not part of the contract/loan.

Beware of Joe England! Podcast speaker #206

I had a bad experience lending money to Mr. Joseph England. I want to share my experience in the hope of helping others who are thinking of investing with him. I always see his posts on the forums, listened on his podcast and was impressed by his posts in 2017. Then I saw his ad on the BP Marketplace for a Baltimore property that he was wholesaling. I thought this looked like a good deal so I contacted him and eventually bought that house from him. I offered to lend him my $50000 from a SDIRA at an interest rate of 7% for 2 years. I thought that will be a win win situation for us. He'll be able to use the money while at the same time guide me through my first BRRRR. Two years came and he did not return that money nor the interest. I filed a lawsuit against him two months ago and got served the subpoena but he has not responded yet. This post is not written to get sarcastic remarks but to warn people to avoid Mr. England like a plague.

@Matt Bailey I use Cozy. It's free and easy to set up.