was 2015 a prosperous year gor you?

[97guns]

My first busines opportunity of 2016 presented itself last week, my property manager wants to buy one of my houses, a 4 bedroom that I told him $265k on. His wife and he will apply for a loan this week. I will have 2 options if I sell, I can get into a little older 3 bedroom for around $180k, pocket $50k and have my income drop maybe $200/mo. Or I can throw $200k at first and second deed loans and cash flow an extra $1000+/mo

It would be a good move for me, I'll be selling without an agent for a good $15k savings and if I decide to rebuy a 3 bedroom I can 1031 exchange it for no tax on the capital gain

[LivingAlmostLarge]

What first and second deed loans on other properties you have? What did you buy it for?

97guns did you do private party financing? Is that how you managed to buy a bunch of properties with so little cash?

[97guns]

What first and second deed loans on other properties you have? What did you buy it for?

97guns did you do private party financing? Is that how you managed to buy a bunch of properties with so little cash?

I bought 2 all cash and financed 2, houses were only going for 80-90k in 2009. when my Father passed away in 2013 we sold his house and i bought another all cash with proceeds from his house. I am considering investing in deed loans if I sell one of the properties

[LivingAlmostLarge]

What are deed loans and are they easier than doing landlording?

[97guns]

What are deed loans and are they easier than doing landlording?

Deed loan is a loan a borrower takes and puts the equity of his property up as collateral, the lenders name goes on deed, its a secured loan that pays an easy 12-13%

[tripods68]

Deed loan is a loan a borrower takes and puts the equity of his property up as collateral, the lenders name goes on deed, its a secured loan that pays an easy 12-13%

Where do we find this, online?

[97guns]

Where do we find this, online?

Do a Google search for deed loan investing and your area, local deed investment brokers will come up, they usually show properties they are brokering with all the numbers. They tell how much equity is in the property, interest rate, amount borrower wants and length of loan.

[Nutria]

Deed loan is a loan a borrower takes and puts the equity of his property up as collateral, the lenders name goes on deed, its a secured loan that pays an easy 12-13%

That sounds like a second mortgage.

[clatoden99]

In terms of Mistakes I did, the lessons I learnt, the people I lost, it was a heavy year. Looking back, I don't remember when I had the actual fun laugh. It is tiring fighting people and health issues. The year was not bad but tough.
All-tough. All-strong.

[msomnipotent]

On paper, 2015 was horrible for us. The college savings were down over 30%, retirement savings was down 20%, and we had many large ticket items that needed replacement that we were not planning on. My car, the furnace, the A/C unit (those two alone were over $11,000!), several large windows,unexpected health expenses, etc. Oddly enough, I still feel good about it. This was the first year after a major financial set back that we had emergency money to handle the surprises. We had to finance the car when we usually pay cash for one, but at least we won't have surprise repair bills for a while. I learned a lot about investing, and learned not to listen to "pros". The stocks I picked are doing pretty good. The stocks I bought on advice are down 35% to 60%.

On the plus side, 2016 is already going great for us. My husband got a raise. He will probably get a substantial bonus (but I'm not counting it until the check clears), we finally have concrete plans to get out of this nightmare of a subdivision, I re-balanced and swapped some of our retirement funds and started selling loser stocks on the ups. We lost some hope when our basement started leaking under the front door and the fence heaved up during the last storm, but the handyman I contacted indicated that they won't cost nearly as much to fix as I thought. Still waiting for a written estimate, but I'm hoping our luck continues!