Mirko Lopez

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IM:
Profiles:

Have money in the bank. Not getting enough interest. Would like to buy REO's, Foreclosures etc. Also interested in purchasing sound notes. I have been a broker for 35 years but I no longer do it. Just wanting to invest my own money. I'm limited on time to research and attend foreclosure sales and that limits my investment potential.

Experience

I have been a broker for 35 years or so. I sold eight properties that I bought at the very bottom of the last downturn (early 90's ???). I had recently retired or retired when I had my windfall. There was a lot going on at that time, so the dates are a little hazy. I vacationed and goofed off for a while and then went back to school. Became a school teacher and this is my second year doing that. I wish I could just do real estate right now, since it's such an exciting time, but I have made a commitment to myself and my students to teach at least one more year so tha't what I'm going to do.

Real Estate Goals

I want to invest around $750,000 now. Not sure I qualify for loand. Excellent credit and reserves but not much income. I may have to do mostly cash deals. I have a loan app in the works and should know in the next couple of weeks. I'll be 60 soon, so don't have real long-term plans. I would like to double my money in the bank or have a rental profolio that will supplement my retirement income. Problem is...don't really know when I'll fully retire, if ever.

Currently Seeking

Seeking to buy rentals close to home. I live in Orange County CA. I want to aquire rentals at well below market and have them give me true cash flow of around 10$% of investment. Concentrating on foreclusure auctions for now. I know the local market. I prefer condos (weird huh?)