Sometimes we can over complicate things.
Here’s a quick, easy and FREE way to put yourself in front of note deals every now and then.
Create a customized search on Craigslist so that anything with the words: promissory note, trust deed, seller financing, mortgage note, etc drops right into your email inbox.
In the last session of Property & Paper Live, I ended up talking about a little note I bought for $7K,
And one with a UPB (Unpaid Principal Balance) of $147K that I bought for $55K.
It was a bit of a weird one. It was where the owner of the collateral and payor on the note was the nephew of the note holder.
And that nephew had it in his head that the property was his rightful inheritance, so he didn’t need to pay.
They were never going to foreclose on him because family members just don’t do that, right?
So they sold it to me, and I don’t have any problem starting foreclosure when it’s warranted.
Direct Nurturing + Clear Boundaries = success in ALL relationships.
We need to balance compassion for ourselves as well as others.
The property was only worth $100K at the time, so I had to be conservative.
But I made a custom deal with the note holder to create a very equitable arrangement. To hear what is was and hear the rest of the story, click on the image and it’ll take you there.
On 1.5x speed, it’ll only cost you 18 minutes!!
If you’re in a sticky situation with friends or family, reach out and we can hatch a plan that will work for you… one that DOES NOT require a huge discount or the emotional trauma having to deal with the legal processes.
In the second half (available in the COTR community) we ended up talking about mobile homes in parks, referencing a big project I did when I first moved to Carson City.
I brought 16 used mobile homes down from Lake Tahoe when a park was being shut down to be converted into high-end condos on the lake.
Lots of juice in there between my experience and David’s constant nuggets of wisdom. Really appreciate all of you who participated!
This is the perfect time to offer a 50% discount on “Note Investing for Newbies” so you can get more ideas like this 🙂
Good through midnight of March 1st, use discount code: NEWB50
You can click the image to take you to it!
Remember…
To grab the first half of the session, check out “Notes a la Craigslist” on YouTube or Podcast.
To access the full replay, join the Citizens of the Realm community and click on the “Learning” tab.