Quote from tomqui on October 30, 2024, 1:53 pmGreeting, everyone. I am a notes investing newbie but I have been receiving messages from Rob for quite a while and I am seriously looking to this business. As a notes investing newbie, I understand that funding option is limited. Hard money for house flipping in not an option for notes investing. To prepare getting started, I have saved about $10K on the side while working my 9 to 5 job. On top of it, I have successfully applied $10K business credit that offer 0% interest for 12 months. I plan to use the money to fund buying NPL notes or 2nd position lien. If I am successful at notes investing, I may transfer my IRA account to a self-directed one for scaling the business. Again, I never bought notes before and I will need a lot of guidance. Does my plan sound reasonable? At this point, I am not too concerned about ROI as long as I do not lose money. I like to have great ROI in near future though. 🙂 Any guidance is greatly appreciated.
Tom Qui 2024Oct30Wed
Greeting, everyone. I am a notes investing newbie but I have been receiving messages from Rob for quite a while and I am seriously looking to this business. As a notes investing newbie, I understand that funding option is limited. Hard money for house flipping in not an option for notes investing. To prepare getting started, I have saved about $10K on the side while working my 9 to 5 job. On top of it, I have successfully applied $10K business credit that offer 0% interest for 12 months. I plan to use the money to fund buying NPL notes or 2nd position lien. If I am successful at notes investing, I may transfer my IRA account to a self-directed one for scaling the business. Again, I never bought notes before and I will need a lot of guidance. Does my plan sound reasonable? At this point, I am not too concerned about ROI as long as I do not lose money. I like to have great ROI in near future though. 🙂 Any guidance is greatly appreciated.
Tom Qui 2024Oct30Wed
Quote from Bill on October 30, 2024, 2:46 pm@xinyuqiu
Glad to see you're taking action. Everyone needs to start at some point, a lot of us have started this business with not a lot money. I'm a big believer in education and networking. The best way to do this business is to learn from others that have already done it. Create a network of others doing the same thing. When I left my 9 to 5 in 2011, I transferred my 401K into a Self Directed IRA. My wife did the same thing with her 403B in 2015. Both of our Self Directed IRA's invest in mortgage notes, and we do very well with it. We now have complete control of our retirement accounts. My Health Savings Account also invest in mortgage notes, very powerful. This is the link to FIXnotes Membership Levels. Best of luck with everything.
https://fixnotes.com/membership-levels/
Glad to see you're taking action. Everyone needs to start at some point, a lot of us have started this business with not a lot money. I'm a big believer in education and networking. The best way to do this business is to learn from others that have already done it. Create a network of others doing the same thing. When I left my 9 to 5 in 2011, I transferred my 401K into a Self Directed IRA. My wife did the same thing with her 403B in 2015. Both of our Self Directed IRA's invest in mortgage notes, and we do very well with it. We now have complete control of our retirement accounts. My Health Savings Account also invest in mortgage notes, very powerful. This is the link to FIXnotes Membership Levels. Best of luck with everything.
https://fixnotes.com/membership-levels/
Quote from tomqui on October 30, 2024, 3:09 pmThank you, Bill. I am trying to win scholarship by Rob. I hope to win it to kick start my notes investing journey.
Thank you, Bill. I am trying to win scholarship by Rob. I hope to win it to kick start my notes investing journey.