Starting with nothing, starting from scratch with only ambition and high hopes. That's where I gained some more of the basics of what would become some very valuable knowledge in the notes and deeds of trust investment field! " He soon began buying and selling property on his own, reading all of the "no money down" and other creative helpful real estate investment books he could get his hands on. I bought twenty-two houses once, starting when I was twenty-four years old, with an average purchase price of around ,000.00, and I did it with no money!Even the beginner just starting to build a retirement income for the future can put small, tax deductible amounts of money away monthly into a pension plan acceptable to the IRS and then begin lending small amounts of money in trust deeds, if he can find a recognized trustee to handle and service the retirement plan for him.I've set up a retirement plan account where I can do my own thing in trust deed investing with a money market checkbook monitored by a recognized trustee and my annual contributions are deductible and the interest is not taxable until I begin drawing it out to spend at retirement.Many ask "What if all you have is ,000.00 to invest? There will be many factors to consider and they will be covered throughout this book.You can reach retirement sooner earning high yields from trust deeds. Once I had 8 listings on the same street and I got tired of seeing my own signs!
Our average loan remains at about ,000.00 to ,000.00 and currently we broker a lot of loans for the construction of single family dwellings (which is another book altogether). Don't despair, there is a place for you in the trust deed investing business. "I got my education in this business in a very busy market" he remembers. Page 82 37 TIPS TO SAFER TRUST DEED INVESTING.......... Page 103 DEVELOPING A CLIENT BASE OF YOUR OWN.......... By the time Brad was 20, in 1970, he had his real estate license and was already working on his education in the high volume area of Concord, California.You will be receiving regular monthly payments of interest on each of your notes and you'll want to keep that income coming from several different places just in case one, or more, of them isn't as punctual as you might like them to be.If one of your borrowers makes his payments late or even defaults, at least that one will represent only a fraction of your monthly trust deed portfolio income.
The information in this book has enabled me to achieve that.