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Performance Anxiety PDF

140 Pages·2012·0.44 MB·English
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Performance  Anxiety           Creating  A  Fortune  Investing  in     Non-­‐Performing  Real  Estate  Loans           Gordon  Moss   Copyright  ©  2014  Gordon  Moss   All  rights  reserved. Gordon  Moss       ii Performance  Anxiety   Dedication   To  my  father,  Gordon  Sr.   iii Gordon  Moss       iv Performance  Anxiety         Contents         1  -­‐  The  Best  And  Safest  “High-­‐Return”  Investment  I  Know       Of    -­‐  AND  The  Important  Questions  (and  Answers)     2  -­‐  Why  Non-­‐Performing  JUNIOR  Liens?       3  -­‐  Opportunities  and  the  Current  Market         4  -­‐    How  and  Why  it  Works     5  -­‐  Finding  and  Purchasing  the  Notes     6  -­‐  The  Borrower  Wake-­‐Up     7  -­‐  The  Borrower  Work-­‐out     8  -­‐  Bankruptcy  and  the  Junior  Lien     9  –  Foreclosure  and  the  Junior  Lien     10  -­‐  Loan  Servicing  for  Non-­‐Performing  and  Re-­‐     Performing  Junior  Liens     11  –  Taxes  and  the  Re-­‐Performing  Junior  Lien                                                 v Gordon  Moss               vi About  the  Author:     Gordon  Moss  began  his  real  estate  career  in  1985  as  a  commercial  real  estate   broker  in  Orange  County,  California.           He  has  been  an  avid  student  of  the  masters  of  all  facets  of  the  real  estate  and   investing  business  for  over  25  years.         Gordon  now  owns  and  manages  a  portfolio  of  properties  and  notes  full-­‐time,  and  is   very  passionate  and  active  in  what  he  believes  is  the  best  real  estate  and  note   investment  opportunity  we  will  see  in  our  lifetimes.     These  25  years  of  experience  and  focus  give  a  unique  perspective,  and  Gordon   takes  great  pride  in  the  fact  that  he  has  a  unique  ability  to  make  money  in  any  real   estate  market.         Over  the  last  several  years  he  has  studied,  developed,  refined,  and  mastered   several  creative  techniques  that  have  allowed  him  to  prosper  and  grow  while   avoiding  the  land  mines  in  a  very  challenging  and  risky  declining  marketplace.         Additionally,  he  has  dusted  off  a  few  time  tested  methods  of  building  a  fortune  that   work  now  better  than  they  ever  did  –  but  are  overlooked  or  not  understood  by  the   real  estate  and  note  investing  community.         He  enjoys  writing,  speaking,  and  mentoring  serious  investors  as  a  way  for  him  to   give  back,  as  his  mentors  did  for  him.     He  is  a  published  author  in  several  key  industry  publications  and  frequent  speaker   and  panelist  at  real  estate,  note,  and  investment  clubs  and  meetings.     Visit  RealEstateAndNoteInvesting.com  for  a  special  message  from  Gordon Acknowledgement     There  have  been  so  many  that  have  inspired  and  motivated  me  -­‐    I  want  to   thank  all  of  them.    They  gave  me  the  courage  and  confidence  to  take  the  game  of   life  and  my  real  estate  and  note  investment  endeavors  to  the  next  level. Performance  Anxiety       Chapter  One:    The  Best  and  Safest  “High-­‐Return”  Investment  I  Know  Of     I've  traveled  all  over  the  country  and  almost  everyone  I've  met  has  shared   a  similar  desire…No  matter  who  you  are,  or  how  much  money  you  make,   you  probably  want  to  make  more  and  ultimately  achieve  financial   independence.         Everyone,  from  the  kid  flipping  burgers  at  the  local  fast  food  joint  to  the   guy  sitting  at  the  top  of  a  fortune  500  company,  wants  to  make  enough   money  to  live  their  dreams.    I  suppose  this  is  why  investing  has  always  been   such  a  popular  topic.     Investing  fills  this  need  in  a  unique  way.    If  done  well,  It  gives  the  ability  to   “replace  one’s  self”.         Instead  of  working  day  after  day,  you  can  invest  a  little  bit  of  money  and   have  it  earn  you  even  more  and  maybe  even  begin  to  compound  the   profits.         With  enough  patience  and  good  investments,  you  can  generate  a  healthy   stream  of  income  to  replace  your  income  from  your  job  or  profession.       The  Quest     In  the  early  years  of  the  last  decade  we  experienced  a  cyclical  housing   boom.    Property  values  were  incredibly  high  and  housing  development  was   going  on  all  over  the  country.    People  were  taking  out  loans,  buying  up   houses,  and  reducing  available  inventory.       All  of  this,  however,  eventually  came  crashing  down  and  everyone  who  had   participated  in  this  speculative  real  estate  bubble  received  a  rather  rude   awakening.     We  were  suddenly  faced  with  a  situation  where  housing  prices  were   dropping  precipitously.    Many  people  had  purchased  a  house  which  was   now  rapidly  depreciating  only  a  few  years  later.       9 Gordon  Moss     The  loans  they  had  taken  out  were  much  higher  than  what  they  could   afford.    Since  the  houses  were  now  worth  less  than  the  loan  balances,   there  was  very  little  these  borrowers  could  do.     These  borrowers  stopped  paying  back  their  mortgages,  which  caused  banks   to  stop  creating  new  mortgages.         The  pool  of  available  real  estate  buyers  began  to  shrink,  and  property   values  dropped  even  farther.    We  were  in  the  midst  of  a  crisis  and  the   entire  economy  was  feeling  the  effect.         People  lost  their  jobs,  businesses  downsized,  and  paychecks  were  cut.    This   made  the  problem  even  worse  and  there  was  soon  a  glut  of  delinquent   mortgages.    This  caused  the  banks  to  do  the  only  thing  they  knew  how  –   foreclose.     Foreclosures  began  flooding  the  market.    The  banks  were  repossessing  the   collateral  used  on  these  loans  and  were  liquidating  the  properties  at   incredibly  drastic  discounts.         What  we  were  seeing  was  a  huge  abundance  of  these  foreclosed   properties.    The  prices  for  these  properties  were  so  much  lower  than  their   original  fair  market  value  that  many  investors  couldn't  resist.    They  started   buying  up  the  foreclosed  properties.     As  a  25  year  real  estate  investor,  I  felt  the  allure  myself.    Some  of  these   were  very  nice  properties…  houses  for  which  at  a  different  time,  I  would   have  paid  many  times  more  than  the  bank  was  asking.         Something  held  me  back,  however,  and  it  took  me  some  time  to  figure  out   what  it  was.       More  importantly,  there  was  no  clear  way  to  make  a  short  term  profit  from   them.    People  were  buying  these  houses  in  the  hope  that  property  values   would  go  back  up.         While  we  may  be  seeing  some  economic  recovery,  many  times,  there  is  no   way  to  know  when  you  will  be  able  to  make  a  quick  profit  from  a   10

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Gordon Moss began his real estate career in 1985 as a commercial real estate Additionally, he has dusted off a few time tested methods of building a fortune that loan according to the conditions outlined by the lender means you are more free to invest in notes which are tied to properties all.
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