You’d need all those zero and $7,250/mo just to earn a 4% return on that $275k when you could earn more guaranteed in the bank.

Purchase price: $1,000 Cash invested: $15,000 Sale price: $34,500 Bought this property from Detroit Land Bank Authority.

If there’s anyone that attended one of these MFM seminars and is considering it, let’s connect as I believe we can create a win-win and you can actually be an investor rather than a piggy bank for shops like them.  

Almost every dollar I make (active or passive) has a job when it hits my bank account.

And a couple houses from random lines of credit from banks.

If you’re working with a community bank or a traditional lender, these issues may not be as relevant.

There was client bank account information in the folder and she could have done significant further harm to our business.

However, if you have a more extensive portfolio or plan to become larger in the next year or two, I would look for a double-entry system that allows bank reconciliations.

Hi Shawn, When I left banking during the last major crash and started this company, we primarily were a commercial bridge lender, but we also were a real estate investor.

What matters more is whether the borrower in question has the (i) time, (ii) contacts, (iii) experience, and (iv) ability to effectively communicate & package their loan request to banks & credit unions in a way that is compelling to those lenders.