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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Next time Posted by Rick Harmon on May 07, 2010 at 10:06 AM In Reply to: Next time posted by bukzin on May 06, 2010 at 9:27 PM I had purchased my very first note, what I thought was a well-secured purchase money 2nd td, from the carryback seller. Numbers looked good, property OK, discount price on note was very attractive. So, what could possibly go wrong? That deal was my introduction to "what can go wrong." It was many years ago and I learned a great many things about TD notes, real estate, borrowers, BK laws, attorney practices, and some things about myself. Was the deal profitable? Barely, but not if you consider the time I had to fiddle with it, the money I had to advance, etc. Was it valuable? Absolutely. An education in a box. Would I do it again? Well, that would seem masochistic, but the experience and education that I walked away with was worth way more than cost. Plus, I learned about my mistakes on MY dollar, not my investor's. That part is priceless. Pay attention to the previous sentence, would-be real estate promoters. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I had purchased my very first note, what I thought was a well-secured purchase money 2nd td, from the carryback seller. : Numbers looked good, property OK, discount price on note was very attractive. So, what could possibly go wrong? : That deal was my introduction to "what can go wrong." It was many years ago and I learned a great many things about TD notes, real estate, borrowers, BK laws, attorney practices, and some things about myself. : Was the deal profitable? Barely, but not if you consider the time I had to fiddle with it, the money I had to advance, etc. : Was it valuable? Absolutely. An education in a box. : Would I do it again? Well, that would seem masochistic, but the experience and education that I walked away with was worth way more than cost. Plus, I learned about my mistakes on MY dollar, not my investor's. That part is priceless. : Pay attention to the previous sentence, would-be real estate promoters. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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