Well, I learned a lot of new and interesting stuff this week. One cool thing about note investing (as I’m sure any area of investing), there is always a deal that teaches you something completely new that you would only learn in that one weird circumstance that it happens in the deal you want to buy, have purchased, or have under contract. This note had a 2nd mortgage that received a DIL two years ago. The 2nd mortgage contested the 1st mortgage filing foreclosure, and was going through court. I had definitely never seen that before and it brought up a lot of new concerns or issues that I was worried could arise. I talked to my attorney to clarify my concerns and after reviewing the asset and docs I felt comfortable moving forward.
Monday – Tuesday (Honeymoon <3)
Wednesday (6 hours)
Back to the grind big time. I knew I had taken some time off last week and early this week so I got to it and accomplished a lot.
- Paid an invoice
- Signed for my taxes at my accounts so he can finalize our e-filing.
- Emailed vendors handling our deals
- Looked at new inventory (put offers in 4 new deals)
- Reviewed 2 counter offers from a seller, adjusted our offers slightly!
- Got 1 new FL note under contract, but am doing further due diligence. It’s the deal that is teaching me many new lessons! More to come if we decide to close on it or not!
- Requested an interview with 3 SEO and social media marketing experts for NoteInvestingClub.com and TapeTechs.com, our preliminary due diligence services.
Thursday (1 and 1/2 hours without reading)
- Talked to my attorney about the new FL deal.
- Emailed our new FL deal out to our investors. Received several interested partners but none are able to fund in the very quick timeline by March 29th. I’ve asked for an extension from the seller, but have not heard back.
- Read for an hour and half.
Friday (5 hours)
- Received an REO list from a close friend and colleague. He has a direct seller that allows us to purchase REO’s bypassing auction sites. We put offers in 5 properties! Our intention is to wholesale these to local investors who will fix and hold as rentals, or fix and flip. Fingers crossed we get ALL accepted – they’re GREAT deals!
- Went to our Orlando Women Entrepreneur Book Club. It was great to see my fellow entrepreneurial women and talk about our most recent book, Crucial Conversation (highly suggested).
Total Income for this Week: $531.90
New Sellers Contacted: 0
Offers Accepted: 1
Total New Bids: 9