Another Check in the Mail
This is not our first success story but is our most recent. Just received a check in the mail yesterday. Always happy to see a check in the mail. I will let the numbers do the talking:
Cost of Note (bought Aug 2013): $8,600
Attorney Fees (roughly): $4,000
Total Cost Basis: $12,600
Check Received: $10,000
Future Payments From Borrower: $1,200 for 12 months.
Total Revenue After 12 months: $24,400
This is actually one of our bad deals but still will end up making a bit of money if they make the future payments. If not, our attorney will be happy to get hours on this case again.
Thank you @Dave Van Horn for the training. Thank you Brandon Turner and @Joshua Dorkin for this community and the podcasts (especially #28 with Dave).