2016 Update: A Year in the Life of a Note Investor Recap

While my intentions for this year was to blog once a week on my happenings and successes within the business (see the original post here), I realized it was a lot of time and effort for just a few viewers. I decided to stop posting weekly so I could focus that time instead of furthering my business efforts and to be honest, have just a little extra time for me. If you were one of the followers keeping up, I’m sorry for our lack of recent posts, but I am very glad to give you our year end update today! Our 2016 Business Goal was to make $120,000 in pending or actual profit. Not only was it accomplished but we SURPASSED it! The icing on the cake, we didn’t have to take any “pending profit” into consideration. We made a whopping $153,000 in gross profit from our note investments and members at http://www.tapetechs.com and http://www.NoteInvestingClub.com! If your interested in all the details, take a look at our stats below!

seasonedfundingllc

2016 was the most successful year yet. We are beyond excited about our results and are ready for all 2017 has to bring, we know our profits, and deal flow will only continue to increase. We are seeing a huge supply of Non-Performing Inventory and great results with our note deals for both our partnering private investors and our company. If you have idle money sitting in your Roth, IRA, 401K, or savings account, talk to us. We can help increase your return on investment while securing you by real estate. All opportunities are 100% passive. Contact us by email or phone to find out more, 407-205-7363, seasonedfunding@gmail.com

Wishing you the best in 2017!

Week 32 & 33

So I’m officially back to work full time (teaching kindergarten) and it’s taking up a lot of my focus, energy, and time. I’m okay with that because it’s the first of the month and inventory typically comes out in the 2nd and 3rd week of the month.

I feel behind on my weekly post to I’m updating you as to what all happened these past two weeks….

Week of August 1st – August 7th, 2016

  1. I’m giving our Memphis, TN borrower until the 20th to complete all paperwork to provide her with a forbearance plan and keep her in her home. With two previous BK filings, and a modification in the past I’m expecting extra effort to show good faith this time around and are requiring some extra paperwork to ensure her ability to repay.
  2. Volunteered with our local REIA (Central Florida Real Estate Association) and networked with several new investors.
  3. Paid invoices for any open bills on Friday (that’s part of our “batching” process).
  4. Looked at 2 new assets but decided to pass on them for various reasons.
  5. Sent an extension of contract on one note that is taking longer than expected to finish the foreclosure (the borrower filed BK once, attempted to modify the loan then never followed through on paperwork, and moved 2 times so we were unable to serve her…)

Week of August 8th – August 14th, 2016

Monday

  1. Looked at a new tape of 48 assets. Submitted 2 bids on these.

Tuesday

  1. Called our realtor to coordinate being a representative for our eviction of a contract for deed in IL. Our realtor is awesome, has a contractor coming out that day as well as a locksmith to change locks, and get us a quote on any repairs that are needed to get this property sold quickly!
  2. Contacted our borrower that is giving us a DIL in IL to verify move out time this Saturday the 13th.
  3. Called University Park, IL Village because in order to record our DIL we need to send them a certified check, some completed forms in order to receive an official stamp and record the DIL. This means getting the borrowers signature (which may be a challenge).

Wednesday

  1. Looked at another tape of over 60 assets. Made offers on 4 of these notes.
  2. Spoke with a bookkeeper about doing our books for us. It’s something we have been needing to outsource for a while.
  3. Picked up our check from our Jacksonville rental closing. It feels SO good to finally have that property sold – Let’s just say we are not made to be landlords!

Thursday

  1. Sent our pay off letter (initial investment + interest) to the lender on the Jacksonville deal. It’s their 2nd pay off from an investment in 1 month. They made a blended return of over 35%! Not bad!

Friday

  1. Paid invoices for any open bills on Friday (that’s part of our “batching” process).
  2. Contacted our attorney for our Tallahassee FC to see if there has been any movement.

Saturday 

  1. Our realtor managed to coordinate the move out with our IL borrower, although it was no easy task. We are still waiting on the signed document back from the borrower to be able to record the DIL.

All in all, movement is happening on several of our deals and we expect to continue to be closer to our workouts and a payday! 3354-a-little-progress-every-day-adds-up-to-big-results_380x280_width

Total Bids Submitted: 6
Total Bids Accepted: (2 pending approval (we’re in negotiations) 2 still waiting to hear back on)
Number of New Sellers Contacted: 0
Total Profit: $474.85

 

Week 31 – Shit Hits The Fan Fast

Tuesday was a whirlwind of emotions. Let’s just say some shit hit the fan. Amazingly, it all worked out rather quickly and with very little aftermath. I really shouldn’t be surprised. After all the Universe is working in my favor. Regardless, it isn’t comforting when things don’t quiet go your way especially all at once.

Monday (3 hours)

  1. We were supposed to close our new Miami asset but are still waiting on wire instructions and collateral from the seller. Luckily we’re ready but it’s backlogged in their system, so we’re not jeopardizing any relationships. I guess it’ll close when it closes.
  2. Heard back on our 4 bids from last week (3 were out bid, 1 is a back up bid).
  3. Got our last lending agreement notarized at the bank and sent to our private lender.
  4. Heard back on our Rockford, IL deal which is close to coming to eviction. We should have a date we can get in to start work soon!
  5. Sent our contractor our design ideas for our newest REO “mini rehab” in Evansville, IN. I love picking out decor, paint, tile, etc. I just don’t like managing the work involved! This one is a light rehab so it’s not too bad.
  6. Analyzed all of our past deals into one spreadsheet, looking at our original predictions for profit, ROI, sales price, total cost, etc to reality. It’s amazing how different it can be sometimes. You think you know but unpredictable stuff can always happen! It’s also amazing to see how much we’ve grown from our first deals!

Tuesday (1 hour)

  1. We are going to close on our rental in Jacksonville (we are selling it) on August 1st. keep-calm-when-the-shit-hits-the-fanTitle came back with an issue from a prior-prior foreclosure. Since we bought this a note, foreclosed to gain title we never got an owners title policy. We saw that title was clear in our O&E and on the loan title policy. So in order to close, we know have to figure out why this foreclosure from 2006 is still showing up on the title search, when the borrower we foreclosed on bought this house in 2007 with clear title. Let’s just say it’s not a small problem, but hopefully fixable!
  2. We were waiting on the MLSA for our two new assets we are closing on Wed. (yes, tomorrow) and the seller told us we couldn’t close on one of the deals! We already had a BPO, Title Search, Contractor Bid, and Insurance on the asset and were set to close. I did not like the fact that we might lose this deal. Luckily I was able to negotiate with the seller to come up on offer by $8,000, which is a lot but still left us a nice spread on the backend. – SAVED this deal – Phew!
  3. Our home in Pennsylvania is in conciliation, meaning a court order mediation where a judge hears both parties sides of the foreclosure case and decides what will happen. Conciliation was approved August 2015 but no hearing date had been set. I was emailing my attorney every month inquiring if we had received a date, with the consistent reply of “not yet”. Monday, I couldn’t believe nearly a year passed and I heard nothing, so I called the court and my attorney. My attorney personally followed up with the court and found out the hearing was scheduled that day, Monday! CRAP! The attorney’s never receive an order from Allegheny court about the conciliation hearing which is why we weren’t in attendance. That means we have to wait another 90 days before we can go back to the judge and try to prove our side of the story. This was not good news. Luckily the judge did not simply favor the borrower since we were no shows…It’s still 90 extra days of holding costs and accruing interest in unpaid taxes and with my private lender.
  4. Our borrower called on our Memphis TN note we’ve been trying to contact for nearly 1 month. Glad our communication lines have been opened now with NCCI!

So Since all of this happened within 1 hour….I went to the springs to forget about all of this crap!

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Wednesday (3 hours)

  1. Spoke with my borrower in University Park IL about the DIL we haven’t received yet, but should have by now. We found a mobile notary to get the job done, but it took a lot of text, calls, and emails.
  2. Closed on 3 notes with our private lenders today (1 was supposed to close Monday but was postponed).
  3. Spoke with a few of our attorneys about the cases we have open.
  4. Called 2 real estate agents in University Park to make sure we can get this property sold after receiving the DIL.

Thursday (30 minutes)

  1. Picked up our check from our Tampa Foreclosure sale property! It felt great to write a check to pay our lender a whopping 32% on their money in 1 year as a completely passive investment and get a pay day of $5,032 ourselves!! Wohoo!
  2. Received a tape for our VA’s to scrub from TapeTechs.
  3. Sent my private lenders summaries of our deals.
  4. Called our borrower in TN, again. Again, she did not answer but I texted her as a follow up and she did respond saying she would contact me Friday! We’ll see – fingers crossed.

Friday (30 minutes)

  1. Made sure our docs were in order for the closing today of our Jacksonville Rental – The closing title company was able to “rectify” the title issue, and got everything ready to close on time. No losses there – We are SO excited to sell this property, and again get our money back, pay our lender, and move on to the next deal! WOHOO!
  2. Returned tape to TapeTechs client.

We felt this week deserved some major celebration so we went to the lazy river.

All in all, this week we Funded 3 deals (new buys), Got a payday from 2 investments (sold them), and received a DIL from a borrower! That’s what I’m talking about!!

Total Bids Submitted: 0
Total Bids Accepted: 0
Number of New Sellers Contacted: 0
Total Profit: $6,532.34

Week 30 – Summer is Coming to an End

Wow  – It’s hard to believe that summer is already nearing an end. I go back to work full time August 2nd and I’m pretty happy with all that we’ve accomplished this summer; California’s Enlightened Warrior Camp, 8 new deals, 2 mini vacations within Florida, and lots of rest, relaxation, and work within the business. This week I took a lot of time off to enjoy my birthday and spend time with family and friends. You’ll notice the majority of “work this week” was on the weekend. That’s the best part of no 9 to 5; I can enjoy my time off any day of the week and work when it’s best for me.

Monday (5 hours)

  1. Sent agreements to 2 of our lenders for review.
  2. Reached out to the FC attorney on our New Smyrna Beach deal. Without more information on the BK case and Foreclosure we aren’t comfortable moving forward. Sometimes the risks in notes out ways the profits – you just have to know what to look for and what to ask and when to walk away!
  3. Submitted some closing documents to the title company for our Rental Closing in Jacksonville.
  4. Made sure we had insurance on our newest purchase in Springfield OH.
  5. Spoke with our borrower that is working on a getting our DIL signed and notarized for us. It’s been a complicated DIL but it still pays off with less time than a FC and way less cost!

Tuesday – Friday (time off & My Birthday!)

I did do some work here and there…13709880_1783839235163891_1706579317442883346_n

  1. Contacted 2 contractors to give me a bid on our new Evansville, IN REO.
  2. Sent our attorney an engagement letter for the 2 notes we picked up in Springfield, OH.
  3. Submitted a new tape to our VA’s to scrub while I was on vacation. They did all of the research fit to my buying criteria. When they were done I had 8 assets to take a close look at with all the information I needed to make my bid quickly! 🙂
  4. Heard back on the 2 assets I still had bids out on…I didn’t get them, that’s okay though. There will be others!

Saturday (3 hours)

  1. Put in a bid/proposal for insurance for 4 new assets.
  2. Checked on our tenant estoppel letters for the rental we are selling August 1st in Jacksonville, FL.
  3. Checked in with my attorney’s on a few deals that I needed updates on.
  4. Wrote a Lending agreement for our last partner for our newest deals.
  5. Requested NCCI reach out to our borrower in TN through their online portal.
  6. Submitted 4 new bids on assets in OH and OK on a tape my VA’s completed for me this week (while I was celebrating my birthday). Pretty cool not to have to stop your business when you aren’t working!

Sunday (3 hours)

  1. Wrote this blog post.
  2. Social Media Marketing for our Facebook page (Note Investing Club)
  3. August Newsletter for our mail campaign

Total Bids Submitted: 4
Total Bids Accepted: 0
Number of New Sellers Contacted: 0
Total Profit: $174.85

Week 29 – 5 New Deals!

Monday July 11th – Sunday July 17th, 2016

Man! This week was AWESOME! We got in touch with some REALLY good sources for off market deals, and a ton of great inventory is being released. We were able to get 5 new deals under contract and funded this week which is awesome. We’re expecting to profit  $35,000 + on the five deals without any of our own money. I’m also looking at hiring a part time assistant to help with someone of the clerical work when I go back to working my 9 – 5 full time in early August. I’m excited for how that will increase productivity and allow us to do more with me working less.

Monday (7 hours)  – I was supposed to have Jury Duty but didn’t get called in (Phew!)

  1. Reached out to 7 new potential sellers on LinkedIn. I heard back from 3 of the contacts, 2 of which have already sent me inventory! I even got a bid accepted by one of the new sellers this week.
  2. Wrote a letter to one of our borrowers that has lost communication about their options for staying in their home. We attempted to call 3 times already with no avail. If I don’t receive a response from this letter I will have the company NCCI hand deliver a letter.Screenshot 2016-07-07 12.26.35
  3. Returned a Loan Purchase Sales Agreement (LPSA) to the seller of our new Springfield OH note – it’s a contract for deed and our goal  is to get her borrower paying again. We feel it’s a high chance of success.
  4. Got an affidavit notarized for our FL foreclosure, we’re getting close to judgement sale.

 Tuesday (6 hours)

  1. Got 2 more bids accepted, and potentially a 3rd. One is an REO in Indiana and the other is another asset in Springfield OH! Both are going to be a double digit return and awesome opportunities for our partnering investors. I called the realtors for these assets to verify occupancy and value. (take a look at the properties below)
  2. Look at new assets from the LinkedIn Sellers I reached out to the day before. Placed a bid on 4 assets.
  3. Received a new tape from a client that had over 60 assets for our Virtual Assistants to research. I monitored their work throughout the research process.
  4. Wrote a formal executive summary for our new Rose St. Deal above.

Wednesday (5 hours)

  1. Tried to contact an attorney in OH to help us with our new assets we’re picking up. I had a question about the title report that was returned to us with our contract for deed. Unfortunately I was unable to get ahold of anyone.
  2. Wrote 2 new executive summaries and prepared the Private Lending agreements for our partnering investors.
  3. Found out our Indiana REO was supposed to have a lockbox…but doesn’t? We’re trying to figure out why the seller has images with a lockbox but my realtor has pictures without. Once we can get inside we can get a more accurate idea of what the property needs to sell at top dollar.
  4. Updated our running checkbooks for July for all of our inventory. This helps our partnering investors stay up to date on how much money remains in the account.
  5. Heard back on 2 bids I had out from a seller, unfortunately I was largely outbid. That’s okay, seems I have a lot of inventory coming my way!

Thursday (3 hours)

  1. Our borrower that did not deliver on a modification a month or so back called and asked for a 2nd chance since we have restarted the FC process (for a 3rd time now). We told them they can pay in full (including legal fees, etc) but we will not stop or pause FC.
  2. Got ahold of an attorney in OH that will help us review the title report and handle the contract for deed and foreclosure just in time for our closing tomorrow!
  3. Heard back on our last asset that was approved. We found a partnering investor on this deal that is going to provide a killer ROI!
  4. Heard back on our 4 bids to the new seller, and 1 was accepted. We are looking forward to this deal in Miami, FL. We believe we can keep the homeowner in the house and successfully get them paying again.
  5. Wrote executive summaries for the 2 most recent accepted deals.

Friday (4 hours)

  1. Ordered O&E reports on the four assets that were accepted this week.
  2. Had an inspection on our rental in Jacksonville, FL we have under contract to sell.
  3. Emailed the FC attorney for the new New Smyrna Beach deal we have under contract to try and shed more light on the current BK and FC that is ongoing.
  4. Spoke with the funders/partners on our NSB deal to walk through the potential risks, and likely outcomes.
  5. Wrote to one of our partnering investors about our re-performing note. We need to extend our original contract.

Saturday & Sunday (days off)

Total Bids Submitted: 4 (waiting to hear back on 2 offers from two weeks ago)
Total Bids Accepted: 4
Number of New Sellers Contacted: 7
Total Profit: $544.39

Week 27 & 28

Monday June 27th – Sunday July 3rd, 2016

  1. Looked at new inventory from 2 sellers, submitted 6 bids.
  2. Closed on our newest deal in Tallahassee (finalized our lending agreement, wiring money, getting insurance, etc).
  3. Worked on getting a title commitment to get a release of lien from the Hardest Hits Fund in Illinois so we can get our DIL recorded. We’ve held this note just under 45 days and we are getting a DIL from the borrower! It’s going to be an awesome and quick deal.
  4. Had a hearing for our note in NC that was extended for another 60 days. We won’t get another chance to go before the court until the end of August.

Monday July 4th – Sunday July 10th, 2016

Saturday – Tuesday (4th of July Weekend)

Wednesday (3 hours)

  1. Received new collateral from our latest deal, reviewed the collateral file to make sure all of the proper docs were included.
  2. Paid taxes on a property that was 2 years behind.
  3. Talked with vendors on our current deals.
  4. Volunteered with our local REIA for our General Monthly meeting.
  5. Heard back on my 6 bids, 2 had sold and 4 were countered. I re-countered on 3 of the 4, and passed on one all together.

Thursday (4 hours)

  1. Got 2 new deals under contract, one in Springfield OH & the other in Indianapolis,

    IN. The first deal is a lower valued contract for deed that will likely become a re-performing note giving an expected 30% yield! The second is a vacant foreclosure that is set for foreclosure sale in August. We will likely wholesale that to another investor as it needs a rehab and is not really or M.O.

  2. Contacted my real estate agent in Springfield right away to verify condition, value, and take pictures. I also ordered an O&E on this immediately.
  3. Tried to contact a borrower on a new note we bought last month. This was our second attempt and was unsuccessful. We are now hiring NCCI to drop/deliver a letter to initiate communication with us. They will deliver 2 letters for a low flat rate fee.

Friday (day off)

Saturday (8 hours)

Volunteered for our local REIA (CFRI) at a land trust class with Jack Shea and Mark Warda. I learned about holding mortgages in a real estate mortgage trust to keep myself and my lenders more private. It also keeps my assets protected in the event of litigation. Trusts are an awesome tool for investors!

Sunday (day off)

Total Bids Submitted: 11 (waiting to hear back on 6)
Total Bids Accepted: 2
Number of New Sellers Contacted: 0
Total Profit: $3,479.00

Week 25 & 26 – Warrior Power

I was in California for 9 days for the Enlightened Warrior Camp from New Peaks. It was AMAZING. Completely life changing; mentally, physically, and emotionally challenging that brought me to a new level of kick-assness. I came back more confident than ever that I will reach my goals and dreams no matter what the challenge or obstacle. It was an absolutely amazing week and camp and highly suggest it to anyone interested in going and seeing real change and results in their life!

13466047_10154192835972246_5471123968789249288_nOh, did I mention? While I was away….
1. Sold our Tampa property at the foreclosure auction (YAY FOR A PAYDAY) – our JV partners are getting over 20% return on their money, & the overall deal is 46% return!
2. Our VA’s scrub 3 tapes for clients on www.tapetechs.com
3. Had my VA’s scrub new deals

Monday June 20th – Sunday June 26th

Monday (6 hours)

  1. Caught up on emails that I did not respond to while on vacation.
  2. Checked on current deals & updated my lenders on their happenings.
  3. Listed our Jacksonville rental for sale by owner on Zillow (if you want to take a look it’s a 13% yield for an investor and already has a tenant in place).
  4. Made sure all of my paperwork was in order

Tuesday (5 hours)

  1. Reviewed the new inventory my VA’s did over vacation.
  2. Got a new laptop, apple TV and more goodies for our business!
  3. Looked at new inventory that was sent to me but hadn’t been scrubbed yet submitted 2 offers.
  4. Got a new deal in Tallahassee under contract from a friend/fellow Note Investor.
  5. Marketing for July (Facebook and Email Campaigns).

Wednesday (6 hours including volunteering)

  1. Recorded an AOM and Deed from previous deals.
  2. Drafted a DIL (Deed in Lieu) to send to a borrower that is interested in giving us their property.
  3. Volunteered at a Due Diligence course taught by Sandra Edmonds with our local REIA (CFRI).
  4. Advertised about the Virtual Note CAMP that is happening the 23 – 26th for only $97!

Thursday (5 hours)

  1. Advertised our new Tallahassee deal and found a private lender for it in less than 24 Exterior Picture
    hours.
  2. Pulled title (O&E) for new deal.
  3. Contacted IL Hardest Hits Funds to release the lien from our borrower that is giving us a DIL. We need a title commitment and search to be completed on the property before they will do a release of lien. Found a title company in the county to handle that for us.
  4. Prepared my presentation for Note CAMP on Sunday.

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Friday – Saturday (Days off)

Sunday (2 hours)13482943_1632409840419270_2034719405715299872_o

  1. Spoke on Scott Carson’s Note CAMP about Doing Due Diligence right. I showed the attendants how to do preliminary due diligence, talked about formal due diligence, and offered them awesome discounted pricing for TapeTechs.com and NoteInvestingClub.com!
  2. Wrote this post.


Total Bids Submitted:
 3 (with 3 more ready to submit)
Total Bids Accepted: 1 and still waiting on 2 more.
Number of New Sellers Contacted: 0
Total Profit: $74.95

 

Week 24 -FREEDOM

This is my last week of school (I’m still teaching Kindergarten full time), and I’m ready for summer. I plan to do a lot of work on our business acquiring new deals, closing a few out (wohoo pay days), and increasing tapetechs.com and noteinvestingclub.com presence throughout the note community. Take a look at what happened this week.

Monday June 6th, 2016 – Sunday June 12th, 2016

Monday (30 minutes)

My VA’s researched a tape of FL assets for me. I submitted three bids to the seller. This is a broker (which isn’t my favorite to work with). We’ll see if the inventory is even still available and how it turns out.

Tuesday (day off)

Wednesday (20 minutes)

  1. Mostly my day off (and last day of school), but did talk to an attorney and our buyers for our new deal in Winter Park.

Thursday (2 hours)

  1. Recorded 2 new AOM on Simplifile.
  2. Got a document notarized and deposited 2 checks from our JV partners for our new deals.
  3. Reviewed loan sale agreements, collateral files, Got everything finalized for our closing in the Winter Park deal tomorrow.
  4. Submitted the completed tape to our TapeTechs client.

Friday

  1. Property in Tampa is going to sale Monday, created a Zillow advertisement for it to publicize the sale. We also had a company go out and remove all the interior and exterior trash and take interior pictures. Take a look! We’re expecting to see around a 40% overall return on investment. Our JV partners are going to see yields in the 20%’s!
  2. Looked at some new inventory, placed a bid on 1 asset.
  3. Followed up on 4 bids I have out with a seller to see if there is a response.
  4. Reinstating foreclosure on a property after the borrower failed to complete their side of the modification.
  5. Our tenant also did not pay this month…so our property manager is submitting the 3 day demand, ugh.

Saturday & Sunday

Headed off to California! We’re going to a Warrior Camp retreat, which works on improving mindset, pushing you beyond your limitations, and helping you reach your goals! It’ll be the perfect way to kick start my summer goals.

Total Bids Submitted: 4
Total Bids Accepted: still waiting…
Number of New Sellers Contacted: 8
Total Profit: $2,634

Week 23 – Summer is Here

It is my last week before summer break officially begins and I’m free to do real estate 24/7 (of course it will be more like 6 – 10 hours a week) but still! I can see the horizon and I can’t wait. We’re still working hard to get new deals. Take a look at the action I took this week to get us closer to our goals!

Monday May 30th – Sunday May 22nd

Monday (Memorial Day)

Drove by a new deal we received in Titusville on our way back from the beach. It’s nice when you can focus your day on fun and still sneak in a bit of work without the extra time or cost of a separate drive.

Tuesday

  1. Ran my #’s and put a formal bid in on a property in Titusville, FL. Take a look at the 20160530_192035.jpghouse here. It’s set for FC sale July 27th, so we were playing the waiting game.
  2. Created a marketing campaign add for our sellers for the next two months.
  3. Followed up with a few vendors about our current deals.

Wednesday (6 hours total)

  1. Talked with a private lender about our new deal in Winter Park and in Titusville
  2. Went to our local CFRI meeting (volunteered) and got in touch with a few new private lenders!
  3. Received the collateral files for our newest deal in TN.
  4. Got our eviction letter (demand letter) for our contact for deed in IL prepared with our attorney. That should be delivered Friday or Monday (which is making this process nice and quick).

Thursday

Negotiated a buy price the Winter Park deal that was sent to us. Got the price down from $145,000 to $135,000 with a closing next week. We’ll be making a $2,500 “wholesale” fee on this and helping the investor make sure everything goes smoothly. They’ll be keeping it to fix and flip.

Friday – Saturday (Days off)

Found out we did not get the Titusville deal because someone snagged it first. I took my time making my formal bid while I did some more due diligence, just goes to show. Make your bid, verify after!

Sunday  (3 hours)

  1. Wrote this blog post.
  2. Wrote our June Newsletter
  3. Followed up with vendors I hadn’t heard back from or things I’ve been pushing to the  address in the summer or when I feel I have “free time”.


Total Bids Submitted: 2
Total Bids Accepted: 1 (2 were rejected)
Number of New Sellers Contacted: 5
Total Profit: $49.95

Week 21 & 22

I totally dropped the ball last week and did not write my weekly post. I’m going to make up for it this week and catch you up on all the happenings. It’s been a very busy and great 2 weeks.

Monday May 16th – Sunday May 22nd

Monday – Friday (14 hours total)

  1. We received over 300 assets to research with our preliminary due diligence scrubbing service, http://www.tapetechs.com. It’s awesome we’re able to help so many clients with the research process when you receive a tape. My VA’s were working away on our clients tapes with some of my own assets mixed in there.
  2. Spoke at our local Real Estate Association (CFRI’s) Orange County Monthly Meeting about investing in notes. It was only an hour, but allowed more people to hear about note investing and a few signed up for my Saturday class.Screen Shot 2016-05-18 at 5.32.31 PM
  3. Got a new deal in TN under contract that is a great note!
  4. Emailed some vendors – we need to have our Tampa property that is set for FC sale on July 13th, cleaned out (trash out). We are receiving a quote for that.
  5. Inquired about insurance on the three new notes were picking up & finalized all of our JV/Private Lending paperwork for our investors that are lending us the money to buy these notes at a secured and higher than average rate of return.

Saturday

FB_IMG_1463923189758WOW! Saturday was amazing! I was able to teach over 60 investors from Florida about Non-Performing Note Investing. Being a teacher full time I obviously enjoy and have a passion for educating others. I had no idea I would love teaching them about notes in particular as much as I did. I received great feedback on the class and several inquires on coaching or mentorship to further their momentum of learning with notes. It really was an absolutely AWESOME day.

Sunday – day off! (Well deserved I feel)
_________________________________________________________________

Monday May 23rd – Sunday May 29th

Monday – Friday (10 hours total)

  1. Closed on all three notes this week. Cool news, 2 of them have already said they want to stay and continue to pay their old monthly P&I payment…Wohoo! Our overall cost to get into these deals have dropped tremendously, and we have re-performing notes like that. We’ll be seeing 18% – 22% returns on these until we are ready to sell them to a secondary investors.
  2. Submitted 2 bids this week and am looking at more inventory this weekend (well my VA’s are), to submit bids on.
  3. Got a call from a local investor that wants to liquidate a property only 20 minutes Screen Shot 2016-05-26 at 5.33.39 PMaway from us in a great neighborhood. I’m working on price but hope to hear back Tuesday we have a deal. I’ll wholesale this to an investor nearby that likes to flip properties as it’s a great rehab contender.
  4. Received collateral files for our new deals & submitted the docs to our attorney to get the ball rolling on our eviction in IL.

Sunday – day off!

Total Bids Submitted in the 2 weeks: 3
Total Bids Accepted: TBA
Number of New Sellers Contacted: 0
Total Profit (in 2 weeks): $5,659