Sat, 20 December 2014
Lee Arnold is an international speaker, trainer, and licensed broker who has had over 13 years of experience in the real estate investment market. Lee helps connects private investors to borrowers all across the United States as well as Canada. He comes on the AIPIS show today to talk about note investing. He shares some important tips and insights on the subject along with some other very important investment tips any investor could use.
2:40 – How can you be good at note investing? Lee explains in this segment.
6:40 – Before you buy a note, ask the lender if they provided the home owner with all of the compliance regulations.
8:10 – Disclaimer: keep in mind everything Lee says is just his opinion and you should personally variety what he says.
9:50 – Always do background checks from everybody you're buying from. Who is the home owner? Who signed for the loan? Etc.
13:30 – When working with Lee's company, the serving fees and all closing fees are paid by the burrower. The only fees investors or buyers will have to pay are the transfer fees.
15:30 – The average property loan is $56k. Lee says for that type of loan to happen, the property needs to be worth $85k-$90k on the acquisition, which is roughly a 65% of the value.
20:20 – Lee has personally done discounted paper, but it's not really what they specialize in.
23:45 – Minimum investment is $50k and an investor would need to provide a letter from their tax adviser or CPA.
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