All Forum Posts by: Noel R.

My grandmother is in her mid 80's and alive and well. Bought in to the co-op 30 plus years ago and is planning on staying put till her end days. I am wondering if there is an opportunity to inherit/buy the co-op from her at a discounted rate and profit from the deal. In no way do I want to take advantage of her but rather take advantage of the situation. 

I am not familiar with the laws or contractual agreements when one purchases a co-op. I would imagine she has a right to sell and in reality could leave it to an heir if she chose to? If I did inherit it I assume I would be able to move in and continue paying at her rent controlled rate or sell it at todays market value? 

Looking for any and all advice on the subject. Should I have my grandma get a copy of her contract? If so what should I look for in there? Without a will what will happen to her apartment? 

Help me with some math. If we take P&I and multiply by 12 payments then divide that number by our investment we will get yearly ROI? Which is about 16%?

Thank you for the reply's.

Ok let me try some numbers on a performing Note from the youtube video linked above.

P&I=$880.89  Owes=$156,357 Purchase=$65,000 Worth=$115,000  20 years left on loan

If I buy this for $65000 and hold for 20 years without issue I would collect, 12 montsh * 20 years * $880.89~ $211,000

So 65K becomes 211K in 20 years. That is a 6% annual return about. Am I missing something? 

Been doing a ton of research but haven't really found anything with hard numbers. Why is Note investing the jam? Give me some math to work with. Sh&t link me to some math/note articles. Is note investing worthwhile for someone looking to pick up some cash on the side? I love my job and the best part is I have 20 hours to put towards making some bread on the side. Is note investing a better option than finding some solid investment properties?

Been doing a fair bit of research over the last few days and haven't seen much mention of notes and taxes. Are there any tax benefits with notes? If i invest in a performing note I assume I will be paying standard income tax on the interest? Can anyone point me towards some threads on taxes and notes or a good book or two?  Just wanted to give a big thanks to all the contributors to this forum. 

@Kevin Schulte Did you go ahead with the purchase of the DD manual? How is the adventure into MHP going? Love to hear an update.

Any new info?

The HOA is common areas and nothing more I believe. All my estimates for M&R and such were in the 8-10% ranges and there was no meat left on the bone. Going to keep hunting. Thanks for your insight.

Off market condo in class C area with tenant in place on month to month who doesn't want to move. If tenant did vacate unit would require $4-7k to get rent ready.

$230k sale price

Current rent $1675 approx $125 below market.

New roof in 2010 and furnace in 2013.

HOA $145

Tenant pays utilities and owns appliances.

With conservative estimates for PM, Cap X, M & R, plus taxes and insurance it looks like this is going to be a negative cash flow deal even if I raised rents to market value. 

Am I missing something?

Attended the free 2 hour seminar/sales pitch last night here in my local area. Great presentation loaded with a ton of success stories and a few golden nuggets. For $1495 I could attend their three day boot camp and learn how to accomplish all my financial goals and fulfill my why. I did not choose to invest though I have to admit they had me thinking. Curious to know if anyone here has completed their boot camp and how it went? Funny thing is I had gone to a bogus travel type sales pitch seminar before and though this was a solid presentation I felt like one of the team members for David's boot camp was at that previous travel pitch. 

When it was all said and done it had the too good to be true feeling and the team members just felt greasy. Looking for feedback from others who have attended the free seminar and signed up for the 3 day boot camp. 

@Michael Swan I know you are a proponent of the book, have you done the boot camp? I own the book by the way and am still working on picking my real estate investing future. 

Thank you all for your feedback and please if you have any question ask away.