Posted by Paul (KS) on January 07, 1999 at 14:30:10:
David,
I heard that 3 perceptions and fifty cents will get you a small Coke at McDonalds.
Way to go on unlocking the brain freeze.
Paul.
Another Getting Money Question? - Posted by David Alexander
Posted by David Alexander on January 04, 1999 at 14:22:15:
Ok,
Here’s the scenario currently have approx. 25,000
in paper, 13k from a Contract for Deed on a SFH.
12k from a MH. In a week or so I will have another
10-12k on another contract for Deed. I have another
property that’s rented and cash flow 135/month that I
will sell in March it will net a another 10k.
I advertised in the paper to get a loan against the MH paper for 6k, No One would touch it. I’ve considered going to a
Finance company and talking to them. They want 18%,
on the Rule of 78’s. I don’t know how to figure the amortization on the Rule of 78’s so I don’t know how bad
a deal it is. I am going to try to get the people in the
MH to refinance and cash me out. I understand the notes
buying, selling, creating, I’m missing the getting financing so I can keep growing my portfolio(If you can call it that)
I feel I’m moving far to slow because of my lack of cash flow. I haven’t worked for anyone else in the last seven years, but, the beans and bread (or lack of) are gettin old.
In the meantime…
Where should I look for money, to get loans against this paper. It seems the response I’ve gotten to Mh paper is that it isn’t secure enough. The Contract for Deeds are
at a High LTV.
Would rather not sell it all off as I would like to build
my Net Worth.
David Alexander
Solved my own problem - Posted by David Alexander
Posted by David Alexander on January 06, 1999 at 11:31:50:
Sometimes, you sit back and realize, Wow, you’ve been here before. I was trying to hold on to all my profit,
“to Greedy” and it was causing me to freeze up. I have
come up with a plan to be able to keep moving my money
so it will grow. I’ll post the details of how it works
when I get it done. The other part of the paper business is that when you make 10k a whack, it’s all
perception of value that you really made that much.
It’s on paper. You have to figure out a way to convert that to someone elses perception so you can eat.
David Alexander