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JonnyBoy
Hi all,
I love the site, I was referred by an alumnus. I currently work full-time as a Realtor's assistant for a very successful agent, but to my surprise he does not know anything about investing in RE. I have always wanted to learn and to get my feet wet I want to start out with either the a.) junior bene buyout or b.) judgement lien buyout. Which would you recommend and why?
1.) Could one or both techniques be used during any time in the real estate cycle?
2.) Also, what is a typical ROI for each? If I pay $30k for a buyout could I double my investment (net)? If so, in how much time (6 months - 3 years)?
Before I spend the money on a class I want to hear people's thoughts and experiences and see which one is right for me. Thanks for your time.
-Jonny
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Jonny,
There are a myriad of profitable, little known niches in the real estate arena. Luckily for me, after spending 10 years as an agent in the income property field, I was attracted to a niche that paid off very well for me over the next 24 years. And that was flipping foreclosures here in San Diego County. Hardly anybody, even real estate pros, knew anything about it at the time.
But, like most things in life, nothing lasts forever. Over the years chasing foreclosures became so stupidly competitive that I finally threw in the towel in 2006. I then turned my attention to other, somewhat associated niches, like Junior Bene Buyouts, Equity Buyouts, Judgment Liens, Retained Life Estates and Title Holding Entities. Other areas that I still find attractive are acquiring properties via Adverse Possession and Dingbat Investing.
Back when I first started there were only two books on the subject of foreclosure in our main library. One was written by Robert Bruss and the other was written by John Beck. The problem with them was they were just a general overview of the subject, whereas I hungered for something with a lot more nitty gritty details.
So lacking any astute mentors, books or courses on foreclosures I resorted to creating a journal for each of the skills I had to acquire. Eventually I had one each for Raising Cash, Researching Title, Reacquiring Possession, Rehabbing for Resale, Refinancing, and Reselling.
I have taught/mentored about 2,000 individual students over the years and still do so. Nowadays though, most of my training is in the creation/use of the Title Holding Trust and in Dingbat Investing.
--------------------------Ward
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