All Forum Posts by: Dustin DeSmith

@Juan Pardo You are not allowed to to anything with the property unless you foreclose or get a deed in lieu. I think he means buy the note get the property back by foreclosure or DIL then doing $12k in repairs to sell it owner finance. From there you can hold or sell the note. I'm fairly new too so you may wish to take advise from the veterans her, but I have done a fair amount of research on the topic, still so much to learn though.

Happy investing.

Cheers, Dustin

@Bob E. Thank you for clearing that up. The notes sold by this company are investor only that clears that up, I guess I still have to read that 9000 page document for Dodd Frank lol. 

Any more information or places to learn more I am happy to hear.

Oh sorry, I know about positions, title and financial, collateral ect, borrower financials I need to learn a little more about, thanks for reminding me of that, but I was wondering how to make sure they were dodd frank compliant along with all the other regulations.

I was speaking with a lender of newly originated/performing notes. All of what he is offering sounded like what I would like to invest in currently. Person is BP member and Company has been around a number of years so I contacted him. All seems well, what else should I look into to make sure anyone I am purchasing from is compliant and all that fun stuff. "I'm sure this seller is good but for future ones, also trust but verify."

Also quick question, I know how to do due diligence on a NPN but not much to be found on the performing space any help here would be appreciated.

Thank you very much for your time, and happy investing.

Cheers, Dustin

That depends on your end goals, begin with the end in mind and work backwards to see what is best for reaching your desired goals. Write it down, list the potential of both, you will have your answer, unless you have a personal connection to it, then that may skew facts as in the end this is personal finance and can be swayed by your heart. I hope this helps. 

Happy investing,

Cheers, Dustin

Welcome from the WI boarder. Gary V is good at lighting fires under people that's for sure. Happy investing.

I don't own one but my parents and brother do. I just crunch the #'s and given the amount I would use it vs the cost renting is better for me. If you are going to use it a lot then purchase a good used one that someone else took the hit on, and most of the time they are like new because they never get used. At the end of the day the cost justification comes down to quality of life, it's a toy, like 90% of the "needs" we justify it's just larger so you stop to think. Think of it as going out for a nice dinner vs fast food, they both will feed you but you paid more to enjoy the nice dinner. It's ok to "waste" money if you have it, enjoying money isn't a bad thing, it's why it's called personal finance as everyone has a slightly different personal goal. Have fun with which ever way you decide.

Cheers, Dustin

Do a quick search 265 results for "murder house", This has been covered before and the answers went both ways, that should get you started until someone who knows more than I do chimes in. 

Happy investing

Cheers, Dustin

Wasn't sure where to put this so off topic it is.......

"Take Chances, Make Mistakes, Get Messy." Ms Frizzle 

This seems to be the big majority of advice going around when I look to invest, or it's the polar opposite and it's only secure "sure things" take your little bit and be happy.

I'm sure both ways work for individuals given where they are in life and ability to handle risk. But what I'm pondering is what about you poor guys in the middle who can take a calculated risk and even if the s**t hits the fan you can ride it out long enough to break even or get a profit. This is kind of where I sit. I have some capital on hand, access to more if the deal is "perfect" and worth the headache caused by using it, and a credit score that is a lenders wet dream. Given all of this I've decided I might sideline it until the end of Feb "unless a too good to pass up deal falls in my lap" Until then I will keep learning and searching.

Why would anyone choose this? I'm sure many on here will agree with my WHY, when they know it. Simple honestly, My family comes first, my wife is pregnant with our second, we had a bit of a scare one night and she got brought across the hospital to the E.R. "she's a R.N. so being at a hospital was a bonus" Good news ER Dr cleared her for home, we had 2 other Dr's clear her for work, so all is clear but with some issues that are still a mystery even after tests and multiple ultrasounds. She even ordered a Doppler device that shows up today to help monitor the situation. All is well right? Well I've noticed having a pile of $ keeps Murphy away, so if I have to have a Medivac chopper on Main ST podunk and take her anywhere on the planet your F##king right that's what's going to happen.

What does this have to do with my investing strategy, well I set up our finances so we can live off of a 40hr week on one income "I usually work over that but its a good base". The plan was to live off of one and take the other one to invest, so if all of the buy and holds were vacant we could pay the mortgage with that income, so no pressure to take a bad renter or have any concern about missed payments, giving us the ability to screen better and have better less drama, then take the income from when they are rented and pour it and any extra on the one with the smallest mortgage and take that and roll it to the next smallest, rinse and repeat, because a paid for rental will cash flow like a mother and with no risk of foreclosure. After several years the rents alone will buy more properties compounding over time, I know my cash on cash won't look as sexy as being leveraged to my eyeballs but I'll have money and paid for assets. At the same time buy Notes and reinvest all earnings from those back into more Notes along with my leftover money from the first income. Add all that together with my 401k and my other investments I think we should do alright for a Blue Collar worker from western Wisconsin.

Questions, comments, or concerns?  I'm open to discussion as long as it's polite and friendly.

Thanks for taking the time to read and best of luck investing and/or running your real estate business

Cheers, Dustin

Welcome, so much good information here, jump in and enjoy.