We discussed how my successful real estate career kept me so busy it crowded out spending time with my family. As a successful Phoenix REO agent between 2008 and 2014, the REO business dominated my life even more as demonstrated in 2010 when I closed 296 houses. By 2012, I realized the industry was changing. The inventory of houses was declining, which meant my potential to make money was declining.
Changing from being a prolific REO agent to note investing gradually changed my life for the better. I can now enjoy my Grandson and not be worried about being constantly accountable to the asset managers.
I went from being a business owner to a portfolio owner. Plus, I can do deals from anywhere. I’m loving every minute of time I get to spend hiking in the mountains around Phoenix –many times with my daughter and grandson.
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This interview focuses on a Partial Note sale completed in September, 2017. My IRA bought the note, then recouped almost all it’s original investment by selling the first 125 payments as a partial to a passive investor, but kept the next 154 payments. This property is near Detroit and my passive investor lives in Hawaii. I completed this deal from my Phoenix office
Best of all, The ROTH IRA’s profit is 100% tax-free!