All Forum Posts by: Account Closed

What is a waterfall  distribution model?

We have a MeetUp group here in Hot Springs. Go to Meetup.com and look for Hot Springs Real Estate Investors for details of our meetings

Welcome to Arkansas @Alex Bruggemann. Network, network, network. Although interest in a subject is definitely necessary you must be able to add value if you want to enjoy the fruits of investing. This can be in the form of money, sweat, or get creative as @David Thompson says. Am sure you are learning the subject as you are on BP.  Wishing you the best.

@Lakeitha Henry Network, network, network. Go to CAREIA meetings. Volunteer to help anyone in a investor or real estate office. Just brainstorming but maybe you can volunteer to clean the office for a small fee and get some mentoring too. You need to be around RE. If you can get to Hot Springs we have a MeetUp every month on Sat. at 6:00. We often work with newbies. Go to MeetUp.com and sign up for details.

In addition to the note and mortgage get title insurance on the property being used for collateral.

There is an active RE investors group in your area. Don't have the contact as I am in Hot Springs. Meet people and get involved with the group. This business is all about networking.

@Rich Baer  Will do. Thanks.

What is the first step in starting the foreclosure process?

@Toyin Dawodu As a private money lender I agree with your analysis. The only argument I have with your dissertation is that I do want some info about you personally until I get to know you and we have done a deal together. I have met a number of people interested in me lending based strictly on the investment. Maybe that is why I am a private lender instead of a HML but initially I do want personal information. Some potential borrowers cannot understand that.

Jason W: Not sure I understand. Are you lending to a home owner or investor. #2 clearly states that the borrower will not be living there but later in the statement you say that "the home will not be non-owner occupied." That sounds like it will be owner occupied. If it is non owner occupied that is an investor and you will have no problem with DF. If it is owner occupied you are still ok as long as you do not have more than three owner occupied loans and your rates are not usurious.  This is true according to the feds. Your state may have special statuettes that might change my opinion