Andrew Ikeda

LOL. Bernie who? (Thanks MC).

Congratulations Steve, I was actually surprised because I thought you were already retired!! LOL. But regardless, like everyone else here I think you deserve it and I also think you'll do well. I may be joining you soon in this department as I'm not renewing my contract with the school I'm at here in Korea. All the best! Andrew

And thank you Michael. By the way, the lines of credit do NOT report to the Personal Credit Bureaus and rates are as low as 8.99%. It's a great alternative to hard money. I've personally been approved for over $100,000 for my investing purposes. Best Regards, Andrew

Hi Dennis, I don't personally have any but would like to recommend you take a look or contact Mike Woo at loganxoxo@hotmail.com. He's got 2 for sale that might meet your criteria. Below is a copy of the info I have from him: I am looking to sell 2 notes next month after I have seasoned them for a total of 3 months A grade borrowers- 9 and 12% rates on 7 year balloon notes, 30 year amoritized payments, 30%+ down on collatorilzed performing cashflow properties. Small notes at around $25 and $35K each. I live in Tx but the notes are on proeprties in Indy. I have quote at $0.80 for both right now, just wating for seasoning. They are both very solid borrowers.m Does this fit your notes buyers guidelines? ..you can post the information that I gave you on the notes, they are brand new so have their entire debt service to collect on, they are A grade borrowers. I currently am getting quoted $0.80 on them now. If you're interested, please contact me at: taxlienquestions@gmail.com and I'll reply. Thanks Andrew

Hello Fellow Naked Investors, I have recently started my own business as a business credit consultant. I have funding programs for all types of businesses including real estate. As an investor and long time naked-investor, I've taken great pains to ensure that what I offer is legitimate, legal, and honest. I believe that I have found what I'm looking for. Three programs that my partners provide are full doc funding, start up business funding, and working capital funding. I also have access to unsecured business line of credit for borrowers with as low as 500 FICO, but the business must be in good standing, make $5,000/month with a checking account balance of $3,000/month. Even if any of this is a problem, we also have 'shell' corporations for sale for as little as $3,500 (up to around $9,500). These corps have seasoning and credit already established and I will assist you in registering them with the state(s) if you purchase them through me. I also have a free excel spreadsheet for analyzing commercial properties for the asking. It emphasizes cap rate, cash-on-cash, DCR and DTI ratios. Feel free to contact me for more information. There are no up-front fees for applications or appointments. Looking forward to hearing from you soon. Best regards, Andrew Ikeda Investor and Business Credit Consultant Email: pnwcorpfunding@gmail.com Website: www.bestbusinessfunding.com Phone: (360) 727 - 7808

Hello Fellow Naked Investors, I have recently started my own business as a business credit consultant. I have funding programs for all types of businesses including real estate. As an investor and long time naked-investor, I've taken great pains to ensure that what I offer is legitimate, legal, and honest. I believe that I have found what I'm looking for. Three programs that my partners provide are full doc funding, start up business funding, and working capital funding. I also have access to unsecured business line of credit for borrowers with as low as 500 FICO, but the business must be in good standing, make $5,000/month with a checking account balance of $3,000/month. Even if any of this is a problem, we also have 'shell' corporations for sale for as little as $3,500 (up to around $9,500). These corps have seasoning and credit already established and I will assist you in registering them with the state(s) if you purchase them through me. I also have a free excel spreadsheet for analyzing commercial properties for the asking. It emphasizes cap rate, cash-on-cash, DCR and DTI ratios. Feel free to contact me for more information. There are no up-front fees for applications or appointments. Looking forward to hearing from you soon. Best regards, Andrew Ikeda Investor and Business Credit Consultant Email: pnwcorpfunding@gmail.com Website: www.bestbusinessfunding.com Phone: (360) 727 - 7808

Hi Steve, Good for you! I'm also happy to hear those props we refied way back when are still cash flowing. Thanks for the kind comments regarding my website. I think it's terrible and am in the process of creating a new one with a much nicer template. Should be done in the next couple of days. I'm hoping to be around here more often, but life is keeping me busy. I'm tired of Korea now and want to return back to the states. These days I've got the bug to do lease options again but this time I'm going to try to do it with an apartment/multi-family units. I'm in contact with three lenders for private money to do this. So far, things look like it's going to happen. I'm going for owner financing as well on a second mortgage. I know the lenders don't like this so I'm also contemplating an owner 'cash-out' refinance for their desired downpayment and then doing a wrap on the whole friggin' thing. We'll see what gives and takes with all this. Take care and let's keep in touch. Andrew

Hey Steve, Good to hear from you! Ok, first, I'm still in South Korea trying to get back to the US for good. I was in the States in 2009 for about 10 months but couldn't find anything. I'm working on an online business teaching others to invest in tax liens since I've been having some great success since then. http://www.taxlieninvestingsimplified.com. Been on another job search from here and hoping to land something stateside soon. So how about you? What are you up too? How are your investment properties doing?

Welcome back Everyone!!

Excellent question!! And very excellent choices posted here. Mine would be (for real estate investing): 1. The Holy Bible 2. The Slight Edge - Jeff Olson 3. Trump Style Negotiation - George H Ross and Donald Trump 4. The Art of the Deal - Trump 5. Rich Dad's Increase Your Financial I.Q Other than the Bible as #1, the other 4 are not in any particular order. Thanks for sharing everyone! Andrew

I utilize Windows and Skype and use the free MP3 Skype Recorder (http://voipcallrecording.com/) for recording calls and it works great. I've also used the free version of the PrettyMay Call Recorder with good results. This is good Adam. I will check this out. As for me, I do have a skype account and I use www.Pamela.com. They have a free service and it records up to 15 minutes (with the free service). The one thing that annoys me is that it automatically records EVERY call you make on skype - even to your mother, which isn't always that needed, appreciated or wanted. But, for free ... who am I to argue? Hope this helps. Andrew

Should be good news for the keen real estate investor. There are critics out there saying that r.e. investors are vultures ready to pounce on helpless victims but with some love, we can help those who need help and make a profit at the same time - legally and ethically. After all, there are companies like Johnson & Johnson that have been doing it for decades.

Thanks Ryan, I've been looking for this type of material, especially for free. Definitely interested in Allan Cowgill's material. I've briefly looked at Lautensack's stuff but haven't looked at it closely enough to make a comment on it. For those of you looking for hard money and private lenders, these two sources should be very helpful. Andrew

Hey Bev, Do you have a standard text that you blast out to people or do you do each one individually? What I'm asking is if this method takes a lot of time or can it be done quickly? Thanks, and don't be a stranger. Andrew Greetings to you to too I also have used email in the past but I have learned that email is becoming old to me maybe because so much email scams out there these days that recipients are not taking them serious any more and just toss them which explains why we don't get as much deals via emails as before for most. Now, I'm using a different approach which is different (not too saturated.. yet), free, interesting, excellent icebreaker, and so far it has worked pretty well for me The approach I'm using is "Texting" the recipient directly to his cell phone (yes, most ppl these days have cell phones with text feature), and if the phone they place on the ads is not a cell or does not take text, I still text them and then follow up with a phone call or email asking them if they got my text (great icebreaker here), they will say something like.. "no, I don't have txt capability, but what was it about?".. BANG! Green Light! If they get my text, they reply via text right away (all free online texting) BEV!

Hi Jonathan, I unsubscribed after 3 days and used up my $100 worth of free leads. As mentioned, I did get one lead and if all goes well this week, we should be getting this under a l/o contract. I'm thinking of doing this again. It's $49.95 for the cheapest and they give you $100 worth of leads. After that you gotta pay for the extras but it might be worth the while. There are a lot of motivated sellers on there. In any case, I'll keep everyone here posted if and when I decide to move forward with this and the results. All the best, Andrew

I've been trying CL lately to post some deals but I'm just getting spammers emails. Tried zillow.com to and emailed FSBO's and get a few responses but not many. Found one motivated seller on www.PropertyLeadsNow.com but it is monthly subscription site. They give you a 7 day free trial with $100 worth of leads. This guy was a $5 lead. The cost per lead depends on how old it is. Andrew

Good point Diver, thanks! I just discovered this: RCW 18.85.411 Violations — Penalty. (Effective July 1, 2010.) Any person acting as a real estate broker, managing broker, or real estate firm, without a license, or violating any of the provisions of this chapter, is guilty of a gross misdemeanor. Yes, it doesn't take effect until next year ... but, is there any legal recourse, even now, if I'm missing something? The only thing that comes to mind is we are investors and not brokers. But could being an investor with lease options, CAs, and pure option type transactions be construed as being a broker since we are all involved in selling real estate? But as diver wrote, we are not selling properties but rather contracts. Just would like to hear and learn more angles on this. Andrew

Happy Birthday Jason, Enjoy the left overs! It's better than what I get! Andrew

Well ... craigslist is not dead. I've gotten a lot of calls from both buyers and sellers over the past three days. The second link you posted is broken. The third one works well. This program can work well when you use it as a web address on craigslist.com. I'm not sure the $97 is worth it because there are other programs/software out there that do the same for less. Andrew

Adam, I think you are correct in your assessment. Yesterday, I had a conversation with both a contractor and a realtor and asked them about this supposedly 'improving' market and they both mentioned that it was that the banks are getting rid of their REO and bank owned properties. Now that that pool is slowly drying up, investors are going to look elsewhere. The contractor said he's got two homes he's building now and can't get a personal loan now (overleveraged). Also, I read earlier this year that there are going to be around 1.2 million homes hitting the foreclosure market in 2009 alone. When you factor that statistic in, it's easy to see that the media is full of it. I've also seen that unemployment nationwide is over 10% now with 500,000 jobs being lost every month. Personally, I don't think we've hit the bottom yet although may realtors think we have. Lease Options and other creative real estate transactions are really starting to pick up here in the NW. That should be another sign that things could still get worse, isn't it? Borrowers can't get conventional financing, sellers are having a tough time with their asking prices. Andrew

Hey Everyone, Spoke to a realtor this morning who had responded to one of my emails on selling on a lease option. She is the owner/seller. After a short discussion on the property, she asked about me so I told her what I was doing and she told me that what I was doing was illegal, i.e., collecting a fee or commission without a license. She told me to look up WA state law which I did and I cannot find anything that makes me illegal. All the information I gathered is for the licensing and practices of real estate brokers and licensee - of which I am neither. Before I came onto naked investor and read the post by JerseyJeff in 2005, I was thinking about this. If what I was doing was illegal, then why are all the investor clubs still operating? There are other investors out there too doing the same thing I'm doing. What about sellers and especially FSBO's? How can they sell then without the services of a realtor? Well, it's personal property that they have an interest in. Ok, but then why would I as an investor, need a license to help sell something I don't have a financial interest in (ownership or holder of the deed/note?) I don't have anything to lose or vested. At this time, I'm just doing pure options. I've got two deals going (with signed consulting contracts) with sellers who have inactivated their realtor licenses and neither of them have said anything negative and they seem all too happy to work with me. The response to JerseyJeff's post by Daniel Ng JD/LL.B still seem to be vaild. I'll keep doing my due diligence in this matter but to the best of my understanding, I don't think the laws have changed to reflect that charging a fee for our type of services is illegal. All the best, Andrew

Mr. Rexford is correct. I ended up (working?) with a law firm today in Portland, OR and they told me that soon it will be only attorneys who can charge up front. Even then, this depends on the clients wishes. The way my company works is like this: 1. Potential client contacts me 2. I input their financial information into the companies software and then do a preliminary consultation to see what can be done, if anything 3. The attorney will then contact the client and give them more information. 4. If the client decides to move forward, then a retainer fee is charged the client 5. I get paid a percentage We service WA, OR and CA. If you know anyone who could use this service on the West Coast, be sure to send them to me. I will pay a $100 referral bonus if they pay a retainer fee and do business with us. I like the way this works. The client can get lots of information and ideas at no charge and then the attorney gets it done after the fee is paid. I think this is a good process/system. On the WA State DFI website, it said: NEVER PAY UPFRONT FEES! Andrew

Thanks Michael, Last night I met with the sellers and we signed a consulting agreement using the form you emailed me. Now the fun begins. Andrew

Greetings Everyone, Since Tuesday I've been swamped with phone calls and emails about a lease option I've got going. Two buyers have stated that they want to see the property before they provide proof of income, work, credit, etc. I told them that the seller is a former realtor and that she doesnt want to have an open house all the time for looky-loos. These people say they are gainfully employed and their credit is good but I'm not buying any of it. Besides I'm worried these people may try to make a contract behind my back and cut me out of the deal. No way! Aint buying it. I've contacted the sellers and left a message on their phone to call me because we haven't met and I still need to get the consultation agreement signed. Once that is done, then I'll show and tell the property. Since I'm green at this, I'd like to know what I'm doing wrong or what could be done better for next time. Speaking of ... I've got another motivated seller and another possible interested party. It's funny, I dialed the wrong number last night and ended up talking to some people who expressed interest in giving lease option some consideration on a property they're trying to sell. Then when I did get the right number, the seller is a burned-out, motivated seller behind on a rental property that he recently got a loan modification on but has been using the rental income to fix up a couple other properties and then got behind in payments. He wants to be rid of it and use the money to maintain his remaining properties. I'm fairly sure I can work with this guy. This would be my second deal this month if it works out. Back to work. Take care. Andrew

Good work there, Sam. Keep it up and keep us posted. I hope you get this property. Where I'm at, it's hard to find a cashflowing 4 plex so stay on this puppy. You'll get it done! Andrew