Archive
Do your notes need to carry interest? I was at worship the other day with a five-yea- old who was trying to sell his Rubik’s Cube. I didn’t know they still make those things, but for fun, I played along and asked him how much he wanted for the toy. Tyner: “Nine hundred sixteen”. Me: “Nine hundred sixteen what?” Tyner: “Cents.” Me: “OK, how about this; I can pay you 10 cents...
Private money loans: How many of you have heard the phrase, “it takes money to make money?” This is a true statement if you want to make it in real estate investing. People often make the assumption, however, that you must own the money it takes to make said money. You don’t need to own it- you just need someone to let you use their money so you can do the deal. These people are...
Does a refi make cents? I got a call recently from an investor named Brad that had a conundrum. He was looking at refinancing a mortgage from a 30-year fixed ARM (adjustable rate mortgage) to a 15-year fixed mortgage. A fixed adjustable rate mortgage sounds like an oxymoron. They work like this- for the first five to ten years the rate is fixed. After that, it can adjust...
A/C Repair Yields Over 31 Percent: Financial calculators aren’t normally a hot topic, even in real estate circles, but I took the opportunity to attend an information session on the subject sometime ago, and I haven’t regretted it. The instructor’s name was Gary Johnston, and the night of the session, he forever changed the way I look at investments by introducing me to the...
Yo… Flippin Ain’t Easy: Flipping is one of the first things people think of when they consider getting into real estate investing- “flipping” being the process of buying a house for below market price, fixing it up and selling it to make a BIG chunk of money. Shows like “Flip or Flop” on HGTV, make flipping look like a piece of cake. The truth is it’s a tough job. ...