All Forum Posts by: Melanie Raine

@Eileen Murray -- NPN means non-performing notes. :-) Were there others?

Hi Steven,

Kevin and I just moved to Sioux Falls, SD from St. Paul, just across the river from you. We've got relatives in Hudson. Beautiful little town! Anyway, we are charter members of a Notes Investment Club (NIC) which is an offshoot of the larger MNREIA organization (https://www.mnreia.com/default.aspx). The NIC will be meeting this coming Wednesday evening (5/9). The place is yet to be determined, but I can let you know after I hear, if you'd like. The meetings are always in the Twin City metro. They meet twice a month. We usually arrive early enough to have supper and network, then the meeting starts and usually includes an update on current investments as well as a formal topic of learning. Steven Camp and Greg Frazee, the group's leaders, know more than anyone else in that area about notes. They have also been through Noteschool and go to the Expos and other nationwide conferences. They purchase NPNs in hardest hit funds states, aim for a 3-digit ROI, and do their best to keep the borrowers in their homes. They want to pay it forward, both to the borrowers and to new investors; hence originating the NIC. We've been meeting for about two years now and have two investments currently in process. I would encourage you to attend the meeting if you can. If you'd like me to request that your email be added to the group's mailing list, just let me know. That way you'll get the meeting notices from Greg firsthand. Due to the distance, I won't be at the meeting, but please pass my greetings on to Greg and Steve. Joe Goelz, Charles Priess, and Ted Lillie would also be great connections for you to make. Feel free to mention my name and how you came to be there. They'll be huge helps to you.

Other great sources of information are Scott Carson (http://weclosenotes.com/). Sign up for his NoteCamp. It's a 4-day conference, all Internet-based so you have no airfare or motel cpsts, and it is SO full of great information that you'll have absolutely no regrets whatsoever. You attend from the comfort of your home office. You'll also make great connections from experienced note buyers who are looking for partners. I'd suggest partnering with the experienced people on your first couple of notes. You'll learn what to do when, who the service providers are, and Scott himself is very involved with all of his people. Scott does Monday night webinars, has tons of podcasts, and answers questions directly through their Facebook page and emails. He's one of the big guys but doesn't have the attitude or ego. He's just himself. Through NoteCamp, you'll become part of their Mastermind group, and this is where the experienced people help each other. I can't tell you enough how much I've gained through being a part of this group. I highly recommend them.

W.J. Mencarow (https://papersourceonline.com/) has also been a huge help for me. Both he and Scott are all about training in a practical, hands-on manner, and they don't try to sell you all their extra stuff. You still have it at your disposal if you want it, but their interest is more in helping beginner notebuyers than selling their stuff, as is Dave Van Horn. He's excellent too.

Good luck! Feel free to PM me any time.

Quest IRA is good too. They'll answer any questions you have (https://www.questira.com/).

We're new to the area, formerly from St. Paul, MN. We've been studying up on notes and even partnered on a couple with an investment club back in MN, but I'm nervous about doing this on my own the first time. I'm pretty sure I know how to read the tape and do the due diligence, etc to target the note to purchase. It's the part after the actual purchase that I'm not sure of, and lining up servicers.  Is anyone willing to get together with us for a few hours some evening to provide a little guidance and answer a few questions? 

Hello, Bigger Pockets friends! I'm looking for recommendations for a good Asset Protection for Dummies book -- something that is thorough and practical, yet easy to understand as in layman terms. I'm specifically looking for how-to's for self directed IRAs, land trusts, and LLCs. I have pieced together a fair amount of information from REIA meetings and dinner discussions, but I think I mostly know enough to be dangerous. I'd love to find a good resource for the step-by-step processes and the best way to work with all three together. Thanks in advance for whatever recommendations you can provide! Melanie

Does anyone in Ohio know about transferring ownership of a property within an organization/entity so that the sale does not trigger a review/increase of the property taxes?

My apologies -- Kim Burke, yes. Thanks @Glen Dall. Kim does her absolutely best to meet all your needs. She's honest, hard working, and extremely investor friendly.

Kim Burnes with Leader One is also an expert with FHA loans.

Will do, Jessica.

Thank you, all. Very good information that's been offered and very much appreciated. I agree, too, about my friend's emotional attachment. It's so hard with friends to keep things strictly business. You know, I'm usually pretty tech savvy, but finding the sheriff's sale information online has totally eluded me. I'll try calling later today. My friend seems to think I can buy her property for what was paid at the sheriff's sale plus fees. I have my doubts about that; not sure she's been given accurate information. I also have my doubts about whether the title is clear, and I don't know if her ex's bankruptcy has removed his rights. At the time, it was his primary residence but it's not any more. He has vacated completely. Messy situation, indeed. But I'll keep forging ahead, for the learning opportunity if nothing else. I've been taught in all the guru classes that you keep going until you get three NOs. And Robert Kiyosaki says to never think it can't be done; rather, always think HOW can I get this done. So -- onward! @Scott S., if I get it that far, I'll definitely be contacting you.

Additional comments / suggestions / concerns are quite welcome!