All Forum Posts by: Cody Cox

Welcome to Portland. Be sure to take advantage of all the resources around you in Portland.

With the heighten competition, housing shortages, and having a day job, I needed to change my investing model. Being in the mortgage industry for 33+ years, I have found that investing in distressed mortgage paper works well for me. I don't need to meet with sellers, negotiate and deal with any emotional attachment to a house. Instead, this is a B2B process that I can enjoy from anywhere in the world with an internet connection.

Welcome, Stephen. I am the former President of Northwest REIA in Portland. If I can be of any assistance, please do not hesitate to contact me.

Call Christopher Levesque with Insurance Partners NW in Beaverton. Chris has been around and long time and knows how to work with investors.

503-372-5621.

Cody

You could also have the IRA own the property and seek a non-recourse loan. The IRA is the purchaser, putting about 25% down, then the non-recourse loan borrows the other 25%.

Go to www.iralending.com for more information. Tell Matt that Cody sent you. I get no compensation for this referral. Its just another way to have the IRA own and finance the property. That way, you can use the IRA for down payment and finance the balance.

I'm completing my due diligence on purchasing a very delinquent note in Austin, Indiana, which is about a 1/2 hour north of Louisville. My exit strategy would be to foreclose then sell to a local investor to rehab and then rent.

Is there anyone on this thread that is familiar with Austin, IN with an interest in looking at the property?

Sounds like I missed a good meeting. I need to be on Bigger Pockets more often. Keep me in the loop on any future meetings.

Cody

This property is an older home converted to office space in a commercial business. As mentioned, the contract holders are attorneys that operate their practice out of the building. I drove it today and it looks good. I am meeting with the title holder tomorrow to review the pay history and the land sale contract document. I'll repost should this look promising.

Thanks for the colleague request.   Cidt