All Forum Posts by: Nick Lee

it's my pleasure to be the first to welcome you the site :)

I joined last year with no properties in the States and now have two,with more in the pipeline.

I was guilty of no getting fully involved in the community at first which was a mistake.  Treat this as part of your business and you and your business will grow tremendously.

The forum posts,blogs and pod casts are amazing. If you need to know anything just ask anybody, they will be happy to help.

Happy investing. See you at the top

Nick

Hi Ken.

I am a British based investor who invests in Indiana.  I just started last year.  If you want any details please PM and I can pass these on.

I would also be very interested to hear how things go in Indiana.

Nick

I have just used fiverr. I thought the service was great. All kinds of files can be provided. For a fee of course

Thanks Steve

Hi Rob,

Thanks again for your input. I was talking about me buying from a seller who owns a property outright and paying over x amount of years and an agreed percentage rate

Nick

Thanks Bill I see your point.

Thanks guys. 

Rob - phantom income is a term I have heard used by Robert Kiyosaki.  It's what he calls an extra source of income from a deal. 

Anything I get as a tax rebate ie interest on a loan is an extra return on a deal.  He calls this 'phantom income' a cherry on the top. But you should not base deals on this type of income return.  It's just a sweetener 

Nick

I think it's great you have decided to take the plunge. I am based in the UK and started investing in December last year.

I have two units now rented out and should have several more by July / August.

It took me a while to find the right people to do the different components etc.  I feel happy finding properties and getting them checked over by my contractor and then home inspector to confirm everything.

We have a great property manager and I do feel a good system now in place to keep growing.

If you want any advise this is the best place. Feel free to ask. Good luck

Nick

Hi Guys,

If I buy a deal with seller finance can I deduct the interest payments as I would with a standard mortgage?

I know you should not count this phantom income and I will not factor this in to anything. Just wondered if it is a deduction?

Look forward to your replies

Nick

Thanks for your input guys.

I think it all comes down to speak to an attorney. Does seem to be some conflicting advice in the forum posts on this.

Nick