All Forum Posts by: McKellar Newsom

Hi Kama & Janet,

I'll be there as well. I look forward to meeting you both for lunch (or coffee??) I also saw that there will be a female speaker or 2 at the Summit. Thanks. mck

Perfect. Thanks Tod! See you in Denver. mck

Andy, I am flying out of Atlanta so we might be on the same flight. I'll pm you with more details.

Who is setting up the transportation for Joe, Nick, Andy, McK & Tod? I'm in if there is room for all 5 of us. Thanks. mck

I have a 3 pronged approach to goal setting.

1. I have a typed up action items sheet with the following catagories: Year goals (only 2), Quarter Goals (again only 2), Current projects (only 3 and I don't add more until I finish all 3), Today (a smattering of goals in order of priority, usually on a handful at a time), Later (a list for a later date with no cap).

2. I put my year, quarter, current projects on my notes section of my phone. I add later goals when I think about them and then update my action items sheet.

3. My favorite is my "Wish Board". I actually now have 2 boards in my closet. I dream and have written goals placed on 2 cork boards. I write or have pictures for goals for the following topics:

The Big Stuff
Health
Family
Friends
The Spirit
Travel
Money
For Me
Projects
Shopping
Learning
Home
Forgiveness
Sports
Adventure
Serendipity

I look at them at my leisure and don't stress about time frames. I think the wish boards really work. I sometimes have instantaneous results; however, some of my goals written on the cork boards are for when I am in my golden years.

Good luck. mck

Hi Brian,

Ask for your credit limit increase after you pay down some on your card. The companies give more credit when it looks like you don't need it or have the ability to pay off in big chunks. Good luck. mck

Curtis,
I like your focus comment. What are you focusing on this year? 30 buy and holds?

What prompted you to say "focus"? Thanks. mck

I arrive Thursday at 11:30 am. I'd love to share a ride. Thanks. mck

Great posts!

A property in my target area was being sold on MLS and negotiated as a short sale by an investor. The investor couldn't come up with the cash in time to close the short sale. I was contacted as having been interested in the property and was given 2 days to come up with the funds to buy it as a short sale. I figured out how to come up with the cash to make the purchase for the 55K (very few repairs) property which I have rented for $1600.

If you do decide to do some hard money lending, call your state governing board to confirm the rates allowed.

Another issue with lending is that you are not in control of the payoff time unless you have pre-payment penalties.

If you decide to lend, make sure you feel comfortable foreclosing on a non-payer.

I personally prefer rentals to lending because I like to see my assets go up not down in value over time.

In this market, great deals can be had by the persistent investor.

By the way, I am seeing more and more female investors out there.