All Forum Posts by: Daphne Barber

@Joe Villeneuve  Love that saying! Please see my reply to @Mindy Jensen - in retrospect what this highly esteemed member of BP did may have been unethical - trolling BP for potential clients.

@Gary Baker thanks for your thoughts! Looking at multi families in NJ (and even Philly) was exactly what we were planning on doing before I had that "conversation", which as I said to @Mindy Jensen might have been unethical - using BP to pitch prospective clients. 

Texas is a great market - wish you all the best as well :)

@Mindy Jensen  I'm so blown away by the helpfulness and generosity of the BP community - that's the biggest take away for me, besides all the great advise and encouragement. I'm glad I asked here first before taking that leap - yikes! I gather from all the great responses that this subject may have come up before. But as I've said, this investor has 40 years of experience and is a highly respected member of BP - he's done a couple podcasts, etc. I've never come across anything negative about him. So given how great this community is, it was easy to believe him. 

In retrospect, I'm not even sure what happened was ethical. I replied to a post Jeff Brown made, asking for clarification of his post. Next thing I know, someone emails me to set up a "conversation". During this "conversation" a lot of personal financial information was obtained. Then at the end came the pitch for the note investing - how it's in our best interest because a better return without the headaches, too many candles on our birthday cakes, etc. So you could say his post was actually trolling for business.

@Karen O.  Thanks Karen - please call me Daphne :) I see you're from NYC too. What an awesome and amazing group of folks here on BP - I love it! Agreed - no harm in consulting a few more investors. As @Account Closed said, it felt like the sharks were circling...

The investor suggested setting up a SDIRA (funded by notes - which doesn't seem like a bad idea) and also setting up a SDRoth, and moving the money to the Roth over a period of 5 years so as not to take a big tax hit.

@Anish Tolia  Sharks circling - yes that's what it started to feel like Lol! Yes the Bernie Madoff situation crossed my mind, but again the individual is a highly esteemed member of BP and hasn't lost anyone money in the 40 years he's been in business. I wasn't able to uncover anything negative about him. But yeah - point taken. Thanks. You really want to know the answer to your last question? I was told because only 5% of the investing public know about notes, Lol. 

@Dan Schwartz Ha, well actually I was there in March - and there was a heat wave. Beautiful country tho.

Thanks for the good wishes.  Yes it seems like notes vs rentals vs many ways to skin a cat is a personal decision, but I think what the other posters are saying is correct - if someone says the only option at this point in life is to divest everything and invest with their company - that's a red flag. Even if they are a big deal here on BP.

@Joe Villeneuve Lol yeah really. Thanks for your insight!

@Dan Schwartz thanks for taking the time to reply - Funny you should mention Jeff Brown because he is the one pitching this to us. He comes highly regarded here on BP....

Unrelated - we were just in your neck of the woods and fell in love with the Phoenix area :)

Niicccee! 

@Joe Villeneuve wow appreciate the reply. I understand the notes keep "moving" - that's what his investment company does. I'm interested in how we would realize a 100% cash on cash return given the market we're in? (Nyc). OTOH, the leader of our local REIA heavily invests in Newark, NJ, a place a lot of people might fear to tread...and he's approx mid-30s and going to retire in two years...:-)