note from Friday March 14, 2104, half-morning session

[Andrew Ardianto]

I just hop on the online seminar about 11AM Arizona Time when Bob Schumaker talk.

Most of the content has been given during our 3 days seminar at Red Deer, but these couple of points was worth noted:

Always look at the property to bid.

In Georgia after 1 year we can foreclosure (it's called foreclosure with teh right to redeem), otherwise 30% interest if the owner wants to redeem.

The property that have high chance to redeem is the one that the owner is living far from the property.

Quit Deed Claim (QCD) means clear title, save us time and money, but the liens stay with the property.

In the tax lien business, if the owner not redeem and you have to pay tax as lien owner, it is recommended to pay, as this will be additional revenue when it gets redeem. Remember the redeem profit is interest of all the investments.

After Bob, TedThomas sells IBGS again.

He is looking just 6 people to do deals, reviewing deals. improving deals and community deals.

Case story 1:

Bought surplus land $300 + $100 processing fee = $400

Will sell for $7500 cash. Or will finance.

Finally sold with finance: $750 downpayment + $100/mo till 84 months = $9150 total.

The ads on the local newspaper:

Must Sell !!!

Will Finance

Residential Lot

Call 555-5555

Case story 2:

Senior couple from Edmonton (we saw the video last time)

Bought 25K, value 70K

Bought 12K value 187K

Bought $600 value 20K

Worthwhile quote from Gene Landrum (Chucky Cheese founder)

Entrepreneurial Genius is 90% of experience and 10% of IQ

Experience means implementation, not high IQ

Tip on taking photo of property with digital camera:

1. Take photo(s) of 1 property

2. Make note about the property

3. Take photo of the note

4. Do it again from number 1. This way, it will be sequential.

Source of market valuation:

Improved property: Zillow or Trulia

Land: Loopnet.com

Rene from Vancouver is featured guest, member of IBGS:

In LA about 600 people attending live auction, but only 40 serious bidder.

day 1: 7500 properties to auction

day 2: 1872 remaining

auction went quickly, 1 property every 10 second.

Rene bought 8 properties in 3 months, with his team of 4.

One of the property is acreage valued 2.2 million in King county, bought for 15K !!!

In LA you have to cut grass on the property otherwise fire department will cut it for you and put the lien on the property. The foreclosure process wipe out all liens except for the the above lien such as grass maintenance.

Those are my morning note.

I am welcome other notes if any of you watch the online seminar.

I am sure it is to everybody benefit.

My two cents:

Who wants to accelerate this business for the profit like Rene? I am in !

The answer is not tax lien but tax deed.

Thought?

Andrew Ardianto

cell: 403-200-4593