All Forum Posts by: Ian Barnes

Lamar, first off, love the last name.  We are an established, well known rehabbing/rental company in Baltimore City/County, and do exactly what your asking for.  We mentor newbies who find deals and have been pretty successful at it. Please connect with me via Bigger Pockers or linkedin and we can speak further.

Thanks for the tips everyone, I appreciate it.

Can anyone please let me know specific verbage(ie specific points) I should put into a lease for a Section 8 tenant in Baltimore City? and what I should watch out for when screening Section 8 tenants? Thanks

Capitol Investors meetup in East Falls Church.

I think Stanley pretty much saved you $3500 dollars. I also think unsecured loans are somewhat risky if you care about your credit.  Secured loans at least put you in the mind frame that you can't fail or you will lose everything, just a thought.

Everybody keeps talking to me about these websites that have lists of leads.  There are companies that sell leads on foreclosures, divorce, tax liens, etc. for very cheap, anywhere from 6-10 cents/lead or $30-$50/month for unlimited subscription.  What are some of these websites called?

If you file a multi member LLC, the IRA taxes you as a partnership or a corporation and you have to choose. What are the pros and cons of a partnership or corporation when your a multi-member LLC?

Take a look at keyhole academy, they teach both 1st and 2nd liens, and Sherman has been doing non performing notes longer than anyone else I know.

Never heard of an application fee, and yes, most HML will run credit, if people don't pay their bills, then why would they pay a lender if something went wrong with the rehab.

Ian Barnes

Managing Director

Fortitude Investments LLC

I agree with Dion on what bulk as a term means.  Big funds do tend to pick up the premium notes usually, and you will never compete with them unless you have tens of millions to spend.  A lot of these notes will however trickle down and be sold a few times cause they don't fit into the risk parameters of larger funds.  Think of it this way, a huge fund only needs to make 10% a year cause all of their money is coming from pension funds, ucits, insurance companies, and banks.  They work on a 2% management and 20% of the profits platform so they don't take risk.  Smaller funds that raise money from High net worth individuals have more room to take risk and therefore parameters are different.