All Forum Posts by: Mels S.

Thanks So Much!!!

@Dave Van Horn

This sounds great. As a person looking into investing. I am stuck at how to set up my investing correctly.   Do you guys have an endorse vendors list of CPA/Lawyers your company is working with that might be looking for new investors to help set them up correctly? That would be great. It seems like there are a lot of good people in the note invest area, but find CPA/Lawyers that have knowledge is kind of tricky. 

Also, do you have previous calls that talk about self directed IRAs and other retirement investments? and a vendor list for them also?

I will. Thanks for your help.

sorry auto correct, it supposed to be @Bob Malecki and  @Dave Van Horn 

I have gone to @Bob Galecki's meet up last month and started to learn through @Dave Van Horn PPR Note Co.  I started through the PPR note co. sign up and it asked do I want to invest at a personal person or as a business? 

I am not sure. I know I don't want to get murdered on taxes (in both of Bob's and Dave's podcast) they say they got nailed on taxes because 1. Bob leveraged money in his IRA and 2. Dave's because his note investments tosses off so much cash...he said he was audited twice

So, this is the part I am confused on. I ask out CPA and this is not an area she is familiar in.  1. using our IRAs to invest and 2. using money we save outside of ira is a smart way to reduce tax liability and any other unforeseen liabilities.  I am hoping to start investing sometime before September. 

I keep reading about purchasing a notes.  So far I cannot find a clear Order of Operations (most of the stuff I have found has why notes are good, but not hard numbers to run) 

Then I keeping getting confused: should I  1. save money(how much is a good amount of cash) 2. research note  3. buy note.... or would it be 1. find tax/ legal professional knowledgeable in notes investing  (any suggestions on a good trust worthy person) 2. save money  3. put money into correct holding area, to easy purchase of note 4. research note 5. purchase note 6. work with servicer to get note performing?   

From the research I think I want to be a second mortgage non-performing note purchaser, and that is where I am stalling out. I want to make sure when I purchase our first note it doesn't turn into a landmine. Any ideas, of what to do next... (and my husband and I are not accredited investors). 

Thanks,

Mels

Looking to learn. Any experienced rental real estate people need help, I am your person. Looking to learn and network to create a successful real estate portfolio.