All Forum Posts by: Wes Tuinstra

The question was: which books to read?

Well...why not go to the articles section of this very website
and begin reading there. It's free. And it's good.

Articles like: "Bird dogging 101" which will explain what that
is and how to get started.

While you are in college you can be doing Real Estate Stuff.
You can do it in High School too if you're 18.

But find your niche. (personally...I would trade Forex while in
High School but don't get me started :wink: )

I was talking to a friend once who works for a loan company that is very
aggresive in making loans (and money!).

They wanted him to do some studies to see if people with bad credit...
which other companies decline... could be accepted by them and make
a profit.

Sooooooo.....

He worked and worked and discovered that if a person is late or has
defaulted on a *medical loan* (i.e. hospital bill, legal bill, doctor's office
bill) will still be a good credit risk.

If someone defaults on such a loan, it's usually because the insurance
company was supposed to pay, but didn't... or hasn't yet ... or something
along that line. And just because a person stiffs a hospital, it has NO
correlation to how they would pay on their mortgage.

So once he discovered this, his company gleefully looked again at people
with poor FICO scores and if it was because of a medical debt, they
loaned them money with a higher rate of course. And those loans were
very good and very profitable.

I don't know why I'm telling you all this. But it seemed interesting to me
as a "piece of trivia" to know when reviewing someone's credit.

What say you?

Thanks Josh,

And may I say...What a resource-rich site this is!

You're probably used to it. But for a new person to even begin
reading all of the how-to articles (which I've just finished doing)
leaves the impression that this is a resource indeed! 8)

I've been a member now, oh I don't know...5 days? I've already
been PM'd and invited to a Dallas event. I'm getting plugged in
and I never could have done that so quickly without this forum.

Thanks to you all.

Hello,

From Dallas (actually Plano, a Northern Suburb).

I Publish a Forex Trading Educational site.

My subscribers (it's a membership site) have shown a great interest in real estate investing and so I'm learning all I can with an eye to... referring them to Loan Originators when the need arises,... recommending brokers...and possibly publishing other resources for them as a benefit of membership.

This seems like an *outstanding* resource forum. I'll be asking lots of questions :D

Hello Alper,

We're glad to have you aboard this forum and are interested
in your insights.

Wharton is a great school and your education will stand you
in good stead.

Again, welcome.

Hello Dylan,

I've actually been to Idaho and can say that it is a beautiful
state.

From reading other boards I know that there is a fair amount
of investor interest in Idaho, so you're well placed.

Welcom to the forum!

I'm astounded that Chris joined a year ago and now...in the
last few days... someone welcomed him :cry:

Well, he's 18 now (aren't you Chris) so welcome, welcome to
the forum.

Like you I have an interest in all these things, and like you,
I'm from Dallas.

LOL! Isn't that the way it is?

I'm just startin' and am enjoying this board very much.

Hope to hear more from you and any advice you have from lessons learned.

If you know that you can make the payments, you can buy
where you assume the payments on the mortgage that
someone else doesn't want.

I read it in a book entitled (searches memory)
"Are You Dumb Enough To Be Rich?" And he has a chapter about
buying a house when you couldn't possibly qualify.

I think he did it himself once in life. So there's always hope.

Good Luck!

Wesley

Well said, Chicagolending!

I just cringed when I read splinterlfe say he was just going
to plunge in.

I am eager to do it too, but I also know that there will
always be deals. Next year, maybe even more so.

For me, I have to be able to "see" what it is I'm doing. There
has to be that aha moment when I "get it" and it makes sense.

That won't take away the fear, but I just can't see investing
without true understanding. Am I wrong?

Wesley