I was recently interviewed by Eddie Speed, the Founder of Note School of which I have been a Mentoring Student since 2013 and Case Study winner at Note Expo 2017.
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!