I don't know how many of you are IAS Vendors or Suppliers but, you likely are going to be getting these letters in the mail from their attorneys. See attached.
As the REO business starts shrinking, we can expect more and more of these companies to go out of business. Those of you still working for outsourced REO companies....be warned.
Like many Affiliate Brokers, at some point in our careers we determine it's time for us to go out on our own and do our own thing. Now, that time has come for myself however, I don't have the personal funds I need to start my own office. Like many others I need money. You can get money all kinds of different places however, banks seem to be the most obvious choice for most of us. In fact, I myself have seriously considered my local bank, the one I actually use for my personal money but, I am almost completely debt free and I really don't want to acquire additional debt through traditional means. Without saying it, yes.....I listen to a famous particular radio broadcaster who is known and preaches about living debt free and yes, I am trying to do just that however, I know that some debt is good. In this case, this is debt I can take on that will further my long term goals.
Now, with all that being said, let me just say, for those of you who do traditional lending...banks, etc.... I am not saying not to use you. In fact, I believe you have a valuable place in the market place and do good by lending dreamers like myself the funds we need to bring our plans into reality however, I just don't think that type of lending is a good fit for me.
So, my next option are Investors and let me tell you, I have found out in the past 2 months, not all Investors are created equal. I learned about debt partners, joint venture partners, equity partners, etc... and for a while, it all had my head spinning.....really spinning. Now however, I feel a little better and I can actually say, I think I know what I want. I think what I am looking for is a Self Directed IRA Investor who is prepared to invest in a LLC as a Debt Partner. Now, where do you find them, how do you connect with these people? That is the question.
Several IRA Custodians have reached out to me in the past couple weeks because many of my blogs have revolved around this idea. Truthfully, I really don't know why more of us, especially those of us in the REO industry aren't completely and utterly schooled in this type of investing and likewise, making it work for ourselves but, that is another blog for another time. None the less, these IRA custodians, due to heavy regulations, can't just come out and say, or do for that matter, "we want to invest in your company". So, how in the "h""e" double hockey sticks to you find these investors?
So, here is the goal. I need a Self Directed IRA Debt Partner Investor who wants to invest in a real estate brokerage focused on Traditional buying, selling and investing, distressed homeowners / REO / Short sales and the Self Directed Private Banking Concept. Anyone out there know of anyone? IF you do, please send them my way, I want to talk with them, I want to send them our business plan, I want to earn their investment. Granted, I don't need a lot, less than 50k so, even a "small time investor" would be cool.
If you don't know how to use your IRA to invest in a LLC, ask me. I can guide you to resources that will educate you, people who can offer you insight. If the only thing stopping you is that you don't know enough about it, don't let that stop you from picking up the phone and calling me because, I can help guide you.
