All Forum Posts by: Rick R. Johnson

I think you should have one note and deed of trust with each of the investors owning 20 percentage of that note in first position. So each investor would receive a separate monthly payment.
No SED filing would be needed. 

Steven, what State are you in? Depending on your down payment, I believe that you can purchase a rental property using income from the other unit(s) to help qualify. You do have to show the ability to pay, and have some established credit. However FHA is pretty flexible, and if you have stronger credit and down payment a Conventional loan would also allow you to use rental income to qualify.

Lisa, what state is the property in? In California, the State would foreclose on the property and it would go to auction. I have purchased several properties at tax foreclosure auctions, but, each State does it differently. I would look up county tax records and send a letter to the mailing address shown letting them know that you would like to purchase it. Perhaps you could also contact your local Title Company and see if they could help.

To Marion Edwards on the Fortune Builders events. Yes, I first went to the free seminar, then paid to go to the 3 day seminar. It was about 90 % commercial to sign up for their $35,000 seminar and only about 10% usable content. They promised a $1 million line of credit to everyone who completed the 3 day course only to find out that the line of credit was for a deal that was closing the same day or within 2 days. Not exactly what I was led to believe. They are very high pressure and taught many things that are illegal in my state.