Auctio!

Notes, Rehabbing, Auctions at our Last meeting 10/28/14

Busy and informative:
We began with the Notes (as in Mortgages) on a “Tape” (for-sale list) from a Hedge Fund that’s looking to dispose of them. Joe from NoteSchool took us through them on the speaker phone since he’s back in Florida. Interesting how a Note for $133,000. on a vacant house that’s BPO’d (Broker Price Opinion) $17,500. would sell for $4,000. The more I dig into the NoteSchool course I’m taking, the more I like it. If you’d like to jump in, the courses are only $797. each for either Performing or NonPerforming Notes and $1297.00 for both. This consist of the workbooks you’ll review, the online video’s you’ll go through, then the in-person 3 day class in either Texas or Florida (I’m assuming during the Winter months;-) maybe with some of us?
Next we had a panel with Jay and Damian. Jay’s been to many Auctions in the past 6 months and is looking for a mouse to work with. That’s as in a “Mouse and Elephant” relationship. The Elephant has the experience and money. The Mouse is able to get around quickly and find the deals the Elephant works on. His advice is Before you invest get Knowledge on the market and Construction Work. If you’re looking for a cash buyer, he can help.
Damian likes to buy properties, that need a ton of work, for very little money. Gut rehabs, Kitchens, Bathrooms, Heating and/or Electrical Systems. Since these projects can overrun in Time and Materials it’s critical to have someone with experience calling the shots. He is now looking for someone to find the deals or someone who wants to learn How To find those deals.

See you next month at either Movers and Shakers, Friday November 8 or our main meeting Tuesday November 25, 2014. Mike Hurney

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