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Virtual Happy Hour (office hours)
On the second Wednesday afternoon of every month you can call in and ‘hang’ on the phone and talk about whatever comes up, while networking casually with others in the group.
Calls are generally at 4pm Pacific / 5pm Mountain / 6pm Central / 7pm Eastern.
You will receive an email reminders with the call-in details.
Here are just a few examples. However, they are not routinely recorded.
July 2017
March 2017
February 2017
January 2017
November 2016
October 2016
September 2016
October 2014
PARTIAL PURCHASES, BANKRUPTCY AND SPIRITUAL WARFARE IN THE HOUSING MARKET
I love these intimate gatherings where I get to connect with members of the community, deepen relationships, and mastermind about anything owner financing or notes. For instance, I just had my first bankruptcy filing by one of my payors. For over 4 years I’ve had a fairly ‘boring’ portfolio… all the payments just came in on time without any energy or oversight from me.Now, as general economic conditions have gotten worse for many Americans, and they are squeezed between inflation and lower-wage jobs (and all the stress that goes with it) a few of my notes at any given time are requiring phone calls, legal filings, and money out of pocket to pay back taxes or hazard insurance premiums.I will follow the bankruptcy through https://www.pacer.gov and follow Ken’s advice to retain an attorney in Oregon to help me get a Relief of Stay, etc. In the meantime, with the payor in BK, I will cease all collection efforts. It’s times like these when I am very glad that I bought conservatively… a partial note purchase. I’m in it all told for about $75,000, and the BPO (Broker Price Opinion) came back saying the property was worth over $200,000, so I am well-secured.[fusion_builder_container hundred_percent=”yes” overflow=”visible” padding_right=”30px” padding_left=”30px” ][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][At the beginning of the call, Ken and I were following up on the Transaction Review & Calculator Practice session a couple of days earlier, where I was describing a partial note purchase, FYI.]Lynn talked with the payor several weeks ago to help her mentally, emotionally and spiritually release the house and move on to something that will be a much less stressful and more supportive housing arrangement. Lynn is gifted in helping people transform from the inside out when it comes to dealing with the housing market and rapidly changing economic outlook. I will post her mediations and website when she’s ready to launch it in the next couple of months.For filing foreclosure proceedings:
- I use Trustee Corps out of Irvine, CA: (949)252-8300
- Ken also recommends Land Home Financial Services: (949)337-1721
September 2013
I pulled over into a grocery store parking lot to join other community members for a virtual glass of wine (although I had none! Turned out to be “Imaginary Happy Hour”). We talked about what deals people are working on… there are short sale specialists, hard money lenders, people who run local investment clubs, etc. It’s great! Always enjoy the time spent with you, thank you!
June 2013
MOBILE HOME PAPER, REALTORS AS NOTE LEADS, DANCING AROUND DODD-FRANK
This is the first our Member’s-Only Private Coaching Calls, and it was a pleasure, as always, to personally connect with members in the community and introduce them to each other. We had a chance to go over a transaction in South Carolina that Kathy is considering… she’ll buy the mobile home on land for $30K, put $2K into it, and sell it on terms (with owner financing) for $65K with a $5K down payment. We talked about how she might be able to sell that note for .70 cents on the dollar (70% of the UPB) after 12 months of seasoning, giving her an overall ROI (return on investment) of 47%!
Joe, a real estate agent and investor from New Jersey has successfully cultivated a group of other real estate professionals who are bringing him their listings so he can help them get the properties sold. He’ll have the opportunity to broker the notes he helps put together. I also suggested that people sign up for Mike Ruscica’s NoteConference.com if they want to get on a list to see what types of non-performing and re-performing institutional note product is out there. When you sign up, write Mike a little ‘note’ and tell him I sent you along… I am in the middle of buying my first note from him. He would be a great person to stay in touch with if you are serious about the note business.
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