discounted mortgages - paper - Posted by mervyn georges

import · September 11, 1999, 3:28pm

Posted by Eric C on September 12, 1999 at 18:47:08:

Hi -

Actually, I was more taken with another of his books, Million Dollar Habits, in which he delves deeper into the subject of “drain people”.

I find that many of the “new” subjects out on the market are really old subjects merely retitled and revisited – no offense meant. Human nature doesn’t change so many of these “out of date” books are really as useful now as ever.

For example, I recently purchased a book on banking that was written in 1964 (or '74, I forget which) and described in detail credit scoring, bank deposit rules, and most importantly banker’s themselves. That book is no more out of date today than the day it was published.

Many of the most sucessful people I know study human nature at least as much or more than they ever studied investment techniques or methods. Its a study that will reward you many times over.

import · September 11, 1999, 3:28pm

discounted mortgages - paper - Posted by mervyn georges

Posted by mervyn georges on September 11, 1999 at 15:28:28:

I was thinking of attending your seminar pertaining to
mobile home discounted notes but considering I live in
NYC I relized I am not in the vicinity where mobile homes
would be sold. I am very much new to real estate investing
and look forward to becoming an investor in the near future.
My question pertains to discounted notes. I am very much
fascinated by the idea of discounted mortgages because it
does not take on the same relationship as say becoming a
landlord and having to deal with tenants and fix household
problems, etc. Getting to my question, considering I live
in NYC how practical is it for me to delve into discounted
notes? I was informed by a successful entrepreneur that
discounted notes are risky and the money received from this type of investment takes a long time. Is this true? To get involved in discounted notes, what is a minimum nvestment? If discounted notes are not practial considering I live in NYC what are other forms of successful real estate investing that do not require me to become a landlord?

Thanks so much
Mervyn Georges

import · September 12, 1999, 6:09pm

Take David’s Advice… - Posted by MN~Chicago

Posted by MN~Chicago on September 12, 1999 at 18:09:14:

Go over to the Cash Flow Forum.

For all the times I’ve been to NYC,
I’ve never seen a mobile home, either.

But I’ll bet there are a ton of notes
for you.

Your choice.

import · September 12, 1999, 1:41am

Re: discounted mortgages - paper - Posted by JeffJ

Posted by JeffJ on September 12, 1999 at 01:41:24:

I made 40K on a note in 5mo + a monthy cash flow on the note for those 5mo. (Opportunity + Prperation = Luck) Just learned that in a asset protection seminar today. INVEST AND GET RICH…LEARN AS MUCH AS YOU CAN AND SURROUND YOURSELF WITH NOTHING BUT POSITIVE PEOPLE.
POSITIVE PEOPLE.

import · September 11, 1999, 6:35pm

Re: discounted mortgages - paper - Posted by Alan_FL

Posted by Alan_FL on September 11, 1999 at 18:35:19:

Mervyn,

I just did a search at bigbook.com for Mobile Home Parks within a 50 mile radius of New York City and foud 48 parks. Seems to me that would be a great start, in fact, 2 or 3 of those parks are all you should need.

GO FOR IT!!!

Alan

import · September 11, 1999, 6:26pm

Dont listen… - Posted by David Alexander

Posted by David Alexander on September 11, 1999 at 18:26:33:

to people that have no authority to make blanket statements that discounted paper is risky.

first go to the Cash flow Forum of this site, that’s where we discuss discounted paper.

But, here’s my analogy for the day. Alligator farming may be risky, to most individuals. But, with knowledge , becomes the power to reduce risk.

The simple fact is paper is risky only to the point of how it is secured.

David Alexander

import · September 13, 1999, 4:09pm

Re: discounted mortgages - paper - Posted by mervyn georges

Posted by mervyn georges on September 13, 1999 at 16:09:28:

You seem to be a successful real estate entreprenuer.
Where did you get your knowledge on the notes business? Any good suggestions in courses and who are the top teachers of this business?

Thanks

import · September 12, 1999, 6:05pm

Congratulations, Jeff - Posted by MN~Chicago

Posted by MN~Chicago on September 12, 1999 at 18:05:18:

Tell us more.

import · September 12, 1999, 2:10am

Re: Well Put! - Posted by Stacy (AZ)

Posted by Stacy (AZ) on September 12, 1999 at 02:10:13:

Especially the comment about positive people. John Behle warns us about the Psychic Vampires. What a difference it makes to filter negative people and negative comments out of your life.

Stacy

import · September 16, 1999, 10:34pm

Re: discounted mortgages - paper - Posted by Jeff-MD

Posted by Jeff-MD on September 16, 1999 at 22:34:26:

I just read a lot of books and joined a local note investment club, but there are tons of good information for sale on this site. I have been snooping around this site for a year or so now and have learned a lot from here. I have also done rehabs and tax certificates.

import · September 12, 1999, 11:01am

Re: Well Put! - Posted by Eric C

Posted by Eric C on September 12, 1999 at 11:01:52:

Hi Stacy -

Actually, I prefer the term, “Drain People”. I first read about them in a book by Robert Ringer, “Winning Through Intimidation”. The book is actually about preventing other people from intimidating you; it’s a great read.

Eric C

import · September 12, 1999, 11:18am

Re: Well Put! - Posted by LennWa

Posted by LennWa on September 12, 1999 at 11:18:36:

Wow that takes me back a few years. I love the way Robert bought his Learjet and told how he took a buyer up to view the property and the jet went so fast-- they had really no time to see it. Best part was because he lived out of state he had his atty pick up his checks at closing. And he out smarted the buyer and buyers atty by always having his R E license in order in the states the property was in. Great book for its day. Read that book way back in the very early 70’s