BawldGuy Audio Podcast

The BawldGuy Note warranty is something you just don’t get on the street.

Download Audio

 

Transcript:   When you go to the BawldGuy Note Fund and buy a note, what you’ll be happy to learn is that these notes come with warranties. The warranty says this. It doesn’t guarantee that the note is going to perform like a champ. What’s going to happen is this. If per chance the borrower defaults, and you decide, for your reasons, it doesn’t matter what the reasons are, that you don’t want to foreclose yourself … Listen, foreclosure, in my experience, a lot of times, you end up with more money than was actually owed. There are times that when I foreclosed because frankly it was foreclose or lose everything I had in it … You have to do what you have to do. However, with a warranty, that’s not the case anymore. What happens is this. Let’s take an example of a note, let’s say a $75,000 note that the investor paid $50,000 for. He sails along for a while, and before he knows it, it’s been two years. He’s collected … let’s just make up a number … $10,000 in payments. However, the borrower defaults, doesn’t want to foreclose. That warranty then, if they can’t rehab that note again goes to the warranty which says: You’ve rehab $50,000, you’ve received $10,000, we’re going to give you, at your option either fund credits to buy another note, which you’ll use if that’s what you’re going to do anyway, or just tell us where you want us to wire $40,000 cash, we’ll give you that. What that really means is they’re going to keep you whole. You spent $50,000. You got $10,000 in cash flow, here’s $40,000. We’re not there to cover any other losses that you would have made. Those aren’t really losses. Yes, you might have made more money if you would have gone here instead of there. That’s true in every investment. There is no investment I know you’re not going to buy anything where they say look, you’re going to end up with the same amount that you put in. That’s what the warranty does on these notes. It replaces your principal. You put X in, you get Y amount of payments, and the warranty will cover the difference between what you put in and the payment you received. It’s just as simple as that.

The BawldGuy Note warranty is something you just don’t get on the street.

Download Audio

 

Transcript:   When you go to the BawldGuy Note Fund and buy a note, what you’ll be happy to learn is that these notes come with warranties. The warranty says this. It doesn’t guarantee that the note is going to perform like a champ. What’s going to happen is this. If per chance the borrower defaults, and you decide, for your reasons, it doesn’t matter what the reasons are, that you don’t want to foreclose yourself … Listen, foreclosure, in my experience, a lot of times, you end up with more money than was actually owed. There are times that when I foreclosed because frankly it was foreclose or lose everything I had in it … You have to do what you have to do. However, with a warranty, that’s not the case anymore. What happens is this. Let’s take an example of a note, let’s say a $75,000 note that the investor paid $50,000 for. He sails along for a while, and before he knows it, it’s been two years. He’s collected … let’s just make up a number … $10,000 in payments. However, the borrower defaults, doesn’t want to foreclose. That warranty then, if they can’t rehab that note again goes to the warranty which says: You’ve rehab $50,000, you’ve received $10,000, we’re going to give you, at your option either fund credits to buy another note, which you’ll use if that’s what you’re going to do anyway, or just tell us where you want us to wire $40,000 cash, we’ll give you that. What that really means is they’re going to keep you whole. You spent $50,000. You got $10,000 in cash flow, here’s $40,000. We’re not there to cover any other losses that you would have made. Those aren’t really losses. Yes, you might have made more money if you would have gone here instead of there. That’s true in every investment. There is no investment I know you’re not going to buy anything where they say look, you’re going to end up with the same amount that you put in. That’s what the warranty does on these notes. It replaces your principal. You put X in, you get Y amount of payments, and the warranty will cover the difference between what you put in and the payment you received. It’s just as simple as that.

I love the BawldGuy note fund. It allows my clients to remain safe and secure while adding a stand-alone source of retirement income.

Download Audio

 

Transcript:   I have the BawldGuy Note Fund, and it sounds very simple. But the average investor in America really doesn’t know what buying a discounted note really means. They’re a little bit fearful of it, and I understand, because we all are fearful of anything we don’t completely understand. I know I am. Let’s start out with notes 101 here today. All a note is is what you sign when you bought a house, when you buy a car that you finance. It’s an IOU. I sign a piece of paper that says, “Jeff owes money to this lender.” That’s all a note is, an IOU. Now, in real estate, those loans are secured, so in case somebody … the borrower doesn’t make the payments, they’ve got that security, which is almost always real estate. What do they do? There’s another document. Now that document sometimes is called a trust deed, sometimes is called a mortgage. They’re pretty much interchangeable. They have different meanings in different states on the margins, but all it is is evidence that there’s a piece of real estate. For our discussion needs today it’ll be a house, a simple house that the borrower’s going to move into. He signs an IOU pledging that house as collateral. In case he doesn’t pay, they can take that house from him. Now he has a grant deed or a warranty deed, or any of the other flavors of deeds in the 50 states. It’s his property as long as he pays his monthly payment. Now, if that note somehow goes into default, that borrower loses his job or some other … it’s usually some other cataclysmic event. People aren’t deadbeats. Things happen. Right? That’s why we have the bumper sticker. The bank then may be forced to take it over, but what’s happening now is that groups like my BawldGuy Note Fund take massive amounts of capital, in my case, millions, and they go to lenders all over the United States, we’re in about 27 states so far at least count, and we take these loans off their hands at a deep discount. Now, they’re not performing. Okay? That means, in plain language, the borrower is not making payments and hasn’t made payments for several months, usually at least three. We buy that for pennies on the dollar, usually 20, 30, 40%. Sometimes less, but usually in that range. Then what happens is, the fund manager, which in this case is PPR Note Company … It’s founder is David Van Horn. They have a staff of almost two dozen full time specialist. Their whole mission in life, from eight to five, every single work day of the year, is to rehab these notes such that they’re … the borrower is making payments again. Now, do they bat 1000? Not even close, but the ones that they are successful in returning to performing are then available to buy by the people that are inside the fund as members and investors. Now we call those people accredited investors. It’s not complicated. The definition is twofold, and you don’t have to qualify for both, just one, either as a single person you make $200,000 a year, or married you make $300,000 household income. If you don’t qualify under those, then you go by net worth, $1 million, not counting your primary residence. That includes cars, everything you own, any silver and gold, your paintings, your 401s, your IRAs, you name it, it has value, it’s part of your net worth. Okay?When you buy a note, you’re buying a bank’s IOU that John and Mary Smith signed, and now it’s re-performing again, and you’re paying probably 55 to 80 cents on the dollar. If you have $100,000 to buy notes and you’re an accredited investor, you can be inside the BawldGuy Note Fund. Now, we’ll talk about that note fund later, and the warranty that comes with those notes, at a future date.

I love the BawldGuy note fund. It allows my clients to remain safe and secure while adding a stand-alone source of retirement income.

Download Audio

 

Transcript:   I have the BawldGuy Note Fund, and it sounds very simple. But the average investor in America really doesn’t know what buying a discounted note really means. They’re a little bit fearful of it, and I understand, because we all are fearful of anything we don’t completely understand. I know I am. Let’s start out with notes 101 here today. All a note is is what you sign when you bought a house, when you buy a car that you finance. It’s an IOU. I sign a piece of paper that says, “Jeff owes money to this lender.” That’s all a note is, an IOU. Now, in real estate, those loans are secured, so in case somebody … the borrower doesn’t make the payments, they’ve got that security, which is almost always real estate. What do they do? There’s another document. Now that document sometimes is called a trust deed, sometimes is called a mortgage. They’re pretty much interchangeable. They have different meanings in different states on the margins, but all it is is evidence that there’s a piece of real estate. For our discussion needs today it’ll be a house, a simple house that the borrower’s going to move into. He signs an IOU pledging that house as collateral. In case he doesn’t pay, they can take that house from him. Now he has a grant deed or a warranty deed, or any of the other flavors of deeds in the 50 states. It’s his property as long as he pays his monthly payment. Now, if that note somehow goes into default, that borrower loses his job or some other … it’s usually some other cataclysmic event. People aren’t deadbeats. Things happen. Right? That’s why we have the bumper sticker. The bank then may be forced to take it over, but what’s happening now is that groups like my BawldGuy Note Fund take massive amounts of capital, in my case, millions, and they go to lenders all over the United States, we’re in about 27 states so far at least count, and we take these loans off their hands at a deep discount. Now, they’re not performing. Okay? That means, in plain language, the borrower is not making payments and hasn’t made payments for several months, usually at least three. We buy that for pennies on the dollar, usually 20, 30, 40%. Sometimes less, but usually in that range. Then what happens is, the fund manager, which in this case is PPR Note Company … It’s founder is David Van Horn. They have a staff of almost two dozen full time specialist. Their whole mission in life, from eight to five, every single work day of the year, is to rehab these notes such that they’re … the borrower is making payments again. Now, do they bat 1000? Not even close, but the ones that they are successful in returning to performing are then available to buy by the people that are inside the fund as members and investors. Now we call those people accredited investors. It’s not complicated. The definition is twofold, and you don’t have to qualify for both, just one, either as a single person you make $200,000 a year, or married you make $300,000 household income. If you don’t qualify under those, then you go by net worth, $1 million, not counting your primary residence. That includes cars, everything you own, any silver and gold, your paintings, your 401s, your IRAs, you name it, it has value, it’s part of your net worth. Okay?When you buy a note, you’re buying a bank’s IOU that John and Mary Smith signed, and now it’s re-performing again, and you’re paying probably 55 to 80 cents on the dollar. If you have $100,000 to buy notes and you’re an accredited investor, you can be inside the BawldGuy Note Fund. Now, we’ll talk about that note fund later, and the warranty that comes with those notes, at a future date.

What does synergy for your timeline even mean? It’s a core principle of Purposeful Planning. Combining strategies to coordinate with your personal timeline is what often makes the difference between a solid retirement and a fabulous retirement.

Download Audio

 

Transcript:   When it comes to strategy, one of the things that we’ve talked about many times before is how long do you have to accomplish what you want to do and point B. If you’ve got fifteen years, and you’ve got a boatload of cash, three, four, five-hundred thousand dollars, at least, you can do a lot in ten years. Do you make a household income of seventy-five or do you make a household income of two seventy-five? That also dictates what’s possible. Let’s take somebody who has a quarter million dollars of capital available, by whatever means, and they have about five-thousand a month from the family budget to expend. Now, they may have already bought, say, a couple of two to four unit properties and they’ve been paying them off diligently and they say, “Well, Jeff, what should we do with this quarter million dollars? Well, let’s say the first two that they bought, they owe about four-hundred thousand on. Well, that’s four-hundred thousand we have fifteen years to pay off, so we have to, first of all, check it out. If we don’t buy anymore real estate, how much extra do we need to put on those payments, every month, in order to get at fifteen year free and clear properties. They’ve got two of them, we’re talking four-hundred thousand dollars, so we do that. Well, let’s say it comes out that if we buy one more, but now stop buying real estate, because we don’t think in fifteen years we’d be able to pay off, say, more than six-hundred thousand, six twenty-five, so we put on that extra two, two and a quarter, with a third one. Now they take, maybe a hundred and fifty of that two-hundred and they go out and buy notes in their own name. Now, that hundred and fifty is going to give them somewhere in the vicinity of fifteen to eighteen-hundred dollars a month in income. It’s going to yield twelve to fifteen percent cash on cash. Now, I keep throwing around cash on cash, and for those who are not sure of the definition, it’s very simple: take the amount of money that you put in to any vehicle that’s going to produce income, let’s say it’s a hundred-thousand, and if you make twelve-thousand dollars a year on it, you divide the hundred into the twelve-thousand and your cash on cash is twelve percent. That was an easy one. That’s all that is. If you’re buying real estate, you want to see what your cash on cash is, don’t forget to include the closing cost to your down payment and then divide that into the first year cash flow to get your cash on cash. Cash on cash does not include any profits down the road, increase in rents down the road, or anything like that. It’s just what are you going to do right away your first year and then every year you can do it. Maybe the took a hundred and fifty and they’re coming up with somewhere in the vicinity of maybe eighteen, nineteen, twenty-thousand dollars a year. Well, even if they got the highest, twenty-thousand, not likely. Let’s back it down to eighteen, I can’t help myself. We’re going to take eighteen and we’re going to say, “You know what, that’s probably a whole bunch of twelve-thousand after tax, state and fed, and if you live in a tax free state, God bless you. Now they’ve got a thousand dollars a month after tax. Well, they can take that thousand dollars, they don’t need it, they can add it to the five-thousand from their family budget, now it’s six-thousand.

What does synergy for your timeline even mean? It’s a core principle of Purposeful Planning. Combining strategies to coordinate with your personal timeline is what often makes the difference between a solid retirement and a fabulous retirement.

Download Audio

 

Transcript:   When it comes to strategy, one of the things that we’ve talked about many times before is how long do you have to accomplish what you want to do and point B. If you’ve got fifteen years, and you’ve got a boatload of cash, three, four, five-hundred thousand dollars, at least, you can do a lot in ten years. Do you make a household income of seventy-five or do you make a household income of two seventy-five? That also dictates what’s possible. Let’s take somebody who has a quarter million dollars of capital available, by whatever means, and they have about five-thousand a month from the family budget to expend. Now, they may have already bought, say, a couple of two to four unit properties and they’ve been paying them off diligently and they say, “Well, Jeff, what should we do with this quarter million dollars? Well, let’s say the first two that they bought, they owe about four-hundred thousand on. Well, that’s four-hundred thousand we have fifteen years to pay off, so we have to, first of all, check it out. If we don’t buy anymore real estate, how much extra do we need to put on those payments, every month, in order to get at fifteen year free and clear properties. They’ve got two of them, we’re talking four-hundred thousand dollars, so we do that. Well, let’s say it comes out that if we buy one more, but now stop buying real estate, because we don’t think in fifteen years we’d be able to pay off, say, more than six-hundred thousand, six twenty-five, so we put on that extra two, two and a quarter, with a third one. Now they take, maybe a hundred and fifty of that two-hundred and they go out and buy notes in their own name. Now, that hundred and fifty is going to give them somewhere in the vicinity of fifteen to eighteen-hundred dollars a month in income. It’s going to yield twelve to fifteen percent cash on cash. Now, I keep throwing around cash on cash, and for those who are not sure of the definition, it’s very simple: take the amount of money that you put in to any vehicle that’s going to produce income, let’s say it’s a hundred-thousand, and if you make twelve-thousand dollars a year on it, you divide the hundred into the twelve-thousand and your cash on cash is twelve percent. That was an easy one. That’s all that is. If you’re buying real estate, you want to see what your cash on cash is, don’t forget to include the closing cost to your down payment and then divide that into the first year cash flow to get your cash on cash. Cash on cash does not include any profits down the road, increase in rents down the road, or anything like that. It’s just what are you going to do right away your first year and then every year you can do it. Maybe the took a hundred and fifty and they’re coming up with somewhere in the vicinity of maybe eighteen, nineteen, twenty-thousand dollars a year. Well, even if they got the highest, twenty-thousand, not likely. Let’s back it down to eighteen, I can’t help myself. We’re going to take eighteen and we’re going to say, “You know what, that’s probably a whole bunch of twelve-thousand after tax, state and fed, and if you live in a tax free state, God bless you. Now they’ve got a thousand dollars a month after tax. Well, they can take that thousand dollars, they don’t need it, they can add it to the five-thousand from their family budget, now it’s six-thousand.

Everyone wants to talk about real estate investment strategies. However, strategies that fit YOUR timeline are the only ones that matter.

Download Audio

 

Transcript:   Today let’s talk about strategies. Not strategy in the sense of, “I’m going to be a buy and hold guy,” or “I’m going to be a fix up guy.” Strategy in terms of the long term, how old you are, how many years total do you have on your timeline before you actually get to retirement. That’s the real timeline that matters. If you’re looking at 65, but you want to retire at 55, lost last 10 years don’t matter. You’re already on the late bus if you wait until 65 wanting to retire early. One of the things you have to look at with strategy is, given the number of years you have left before that fun day happens, and you retire what do you have to have accomplished? One of the things that usually people have to do is retire debt. Now, is it retire debt on your primary residence? Is it on your rentals that you bought? What is it? For most people it’s both, but for now let’s talk about what happens when you want to retire your debt. Debt on rentals at retirement is not a good thing, because I don’t care how many months you how to go, or years, that’s cash flow you’re not getting that the lender is. If you’ve got 10 years to go, or 20 years to go, it doesn’t matter, because the guy with 20 years to go has twice as long, but he may have 3 times to properties. How many can you free and clear of all debt by the day before your retirement party starts? That’s one thing to look at. The other thing is, maybe you’re going to buy notes too, and that’s going to be part of your ultimate strategy. If you’re buying notes too, are you buying them in your own name? Are you buying them in an IRA, or a 401K envelope that you control? Is it traditional, or is it Roth? Why isn’t it one or the other? What are you thinking? All that matters. People tend to want to pull, aim, and shoot, and that’s where people get in trouble, and that’s why we call it “purposeful planning,” not, “I just got up, and this sounds like a good plan planning.” When you look at strategies, the timeline dictates what you can, and can’t do most of the time. When you’re 53 years old, and you owned your primary residence, and you have money in your 401K, and maybe an IRA or 2 between you, and your wife, you can’t willy nilly go out and buy 6 pieces of real estate, and acquire a $1,000,000 plus of debt simply because you can afford it. If you’re going to retire at 65, you’ve only got about 12 years to go. Can you retire 2 commas worth of debt in only a dozen years? I don’t know. Can you? If you had enough capital to buy those 6 small pieces of property, did you have any extra for cash reserves? Did you have any extra to buy notes? What did you do, why did you do it, and what’s the timeline you have to accomplish all the goals? Arriving at retirement just because you can, but with debt still on everything that you own makes no sense. Sure, you might be able to squeak by, but the point is, every time a property free and clears itself, usually the cash flow from that property goes up 3, or 4 times overnight. When you’re doing this, you’re strategies matter, and the timeline almost always dictates which ones you will pick. Latter on we’re going to be talking about exactly which strategies for which people, and what timelines matter the most.

Everyone wants to talk about real estate investment strategies. However, strategies that fit YOUR timeline are the only ones that matter.

Download Audio

 

Transcript:   Today let’s talk about strategies. Not strategy in the sense of, “I’m going to be a buy and hold guy,” or “I’m going to be a fix up guy.” Strategy in terms of the long term, how old you are, how many years total do you have on your timeline before you actually get to retirement. That’s the real timeline that matters. If you’re looking at 65, but you want to retire at 55, lost last 10 years don’t matter. You’re already on the late bus if you wait until 65 wanting to retire early. One of the things you have to look at with strategy is, given the number of years you have left before that fun day happens, and you retire what do you have to have accomplished? One of the things that usually people have to do is retire debt. Now, is it retire debt on your primary residence? Is it on your rentals that you bought? What is it? For most people it’s both, but for now let’s talk about what happens when you want to retire your debt. Debt on rentals at retirement is not a good thing, because I don’t care how many months you how to go, or years, that’s cash flow you’re not getting that the lender is. If you’ve got 10 years to go, or 20 years to go, it doesn’t matter, because the guy with 20 years to go has twice as long, but he may have 3 times to properties. How many can you free and clear of all debt by the day before your retirement party starts? That’s one thing to look at. The other thing is, maybe you’re going to buy notes too, and that’s going to be part of your ultimate strategy. If you’re buying notes too, are you buying them in your own name? Are you buying them in an IRA, or a 401K envelope that you control? Is it traditional, or is it Roth? Why isn’t it one or the other? What are you thinking? All that matters. People tend to want to pull, aim, and shoot, and that’s where people get in trouble, and that’s why we call it “purposeful planning,” not, “I just got up, and this sounds like a good plan planning.” When you look at strategies, the timeline dictates what you can, and can’t do most of the time. When you’re 53 years old, and you owned your primary residence, and you have money in your 401K, and maybe an IRA or 2 between you, and your wife, you can’t willy nilly go out and buy 6 pieces of real estate, and acquire a $1,000,000 plus of debt simply because you can afford it. If you’re going to retire at 65, you’ve only got about 12 years to go. Can you retire 2 commas worth of debt in only a dozen years? I don’t know. Can you? If you had enough capital to buy those 6 small pieces of property, did you have any extra for cash reserves? Did you have any extra to buy notes? What did you do, why did you do it, and what’s the timeline you have to accomplish all the goals? Arriving at retirement just because you can, but with debt still on everything that you own makes no sense. Sure, you might be able to squeak by, but the point is, every time a property free and clears itself, usually the cash flow from that property goes up 3, or 4 times overnight. When you’re doing this, you’re strategies matter, and the timeline almost always dictates which ones you will pick. Latter on we’re going to be talking about exactly which strategies for which people, and what timelines matter the most.

What the heck does attacking the perfect storms even mean?! First, assume it’s all positive.

Download Audio

 

Transcript:   Recently I spoke at a special event where I was asked the question: I speak a lot of this so-called positive perfect storm. Doesn’t this mean we should all go out and buy, buy, buy real estate like crazies until this perfect storm goes away? Well yes and no, but let’s define what the perfect storm in the first part. You go all these storms, and by the way, they’re all positive from the view point of the real estate investor. One storm is low interest rates. Another storm is very attractive rent price ratios. Another storm is the ability to buy new or newer rental income properties residentially in great locations without paying the premium we used to pay before the bubble burst. Then there’s that last part of that perfect storm that says not only are they very well located, but like I said earlier, they’re new or near new, where people around the country in most markets, including my own in San Diego, where we consider a 30 year old building just comfortably broken in. We haven’t had new construction of, say, two to four unit buildings, which is what most investors buy, Reagan was in office the last time they built significant number of those buildings in my county. Now you’ve got low interest rate, rent price ratios that are very nice, well located buildings that are not old. Should you buy as much as you can then? Out of ten people, I might give three different pieces of advice because, like I said earlier in many of these videos is that different set of circumstances for Fred makes him do something totally different than Mary should be doing. Let’s say you have a bunch of capital and let’s take something a little bit out of the ordinary. You’re 52 years old. You know you’re going to retire at 67. You’ve got 15 years. That doesn’t seem like very long but you’re a high income earner. You’re averaging $250, 300,000 a year and you know that for the next 15 years it’s going to be that or a little bit more. Here’s what you do. If you can buy all that real estate you have to weight it against I can have a Roth IRA or I can move things into a Roth IRA. Do I start buying discounted notes from inside that Roth IRA. Do I buy notes in my own name? What do I do? Here’s what I tell people. How much a month in cash flow from all the properties you own, and family budget money that you can comfortably set aside to service your retirement plan every month … You can just spend like you don’t care. Then the other thing is, Do you have other sources of income in which you’ve invested? Of course the main source would be note income outside of a qualified retirement plan. In other words, you bought it in your own name. The plan would be, how much real estate can I buy, put 25, 30% down, and retire the debt on all of them by the day before retirement hits 15 years from now? Can you do that in 15 years? I have clients who, because of their note portfolio, they own a small business that is a big producer, and they have cash flow from many properties, but if they buy more property and acquire more debt they have their real estate portfolio’s cash flow, which is impressive and significant, they have the note payments coming in where they have to pay taxes on them, they own them in their real name, but they take that and add it to the cash flow. Then they have their family budget that says they can take x dollars a month, add it all to that, and then they start attacking those loans. They can buy one, two, three. I’ve had people buy six, eight, 10 properties in a six month period and they’re able to retire all five, three, eight,

What the heck does attacking the perfect storms even mean?! First, assume it’s all positive.

Download Audio

 

Transcript:   Recently I spoke at a special event where I was asked the question: I speak a lot of this so-called positive perfect storm. Doesn’t this mean we should all go out and buy, buy, buy real estate like crazies until this perfect storm goes away? Well yes and no, but let’s define what the perfect storm in the first part. You go all these storms, and by the way, they’re all positive from the view point of the real estate investor. One storm is low interest rates. Another storm is very attractive rent price ratios. Another storm is the ability to buy new or newer rental income properties residentially in great locations without paying the premium we used to pay before the bubble burst. Then there’s that last part of that perfect storm that says not only are they very well located, but like I said earlier, they’re new or near new, where people around the country in most markets, including my own in San Diego, where we consider a 30 year old building just comfortably broken in. We haven’t had new construction of, say, two to four unit buildings, which is what most investors buy, Reagan was in office the last time they built significant number of those buildings in my county. Now you’ve got low interest rate, rent price ratios that are very nice, well located buildings that are not old. Should you buy as much as you can then? Out of ten people, I might give three different pieces of advice because, like I said earlier in many of these videos is that different set of circumstances for Fred makes him do something totally different than Mary should be doing. Let’s say you have a bunch of capital and let’s take something a little bit out of the ordinary. You’re 52 years old. You know you’re going to retire at 67. You’ve got 15 years. That doesn’t seem like very long but you’re a high income earner. You’re averaging $250, 300,000 a year and you know that for the next 15 years it’s going to be that or a little bit more. Here’s what you do. If you can buy all that real estate you have to weight it against I can have a Roth IRA or I can move things into a Roth IRA. Do I start buying discounted notes from inside that Roth IRA. Do I buy notes in my own name? What do I do? Here’s what I tell people. How much a month in cash flow from all the properties you own, and family budget money that you can comfortably set aside to service your retirement plan every month … You can just spend like you don’t care. Then the other thing is, Do you have other sources of income in which you’ve invested? Of course the main source would be note income outside of a qualified retirement plan. In other words, you bought it in your own name. The plan would be, how much real estate can I buy, put 25, 30% down, and retire the debt on all of them by the day before retirement hits 15 years from now? Can you do that in 15 years? I have clients who, because of their note portfolio, they own a small business that is a big producer, and they have cash flow from many properties, but if they buy more property and acquire more debt they have their real estate portfolio’s cash flow, which is impressive and significant, they have the note payments coming in where they have to pay taxes on them, they own them in their real name, but they take that and add it to the cash flow. Then they have their family budget that says they can take x dollars a month, add it all to that, and then they start attacking those loans. They can buy one, two, three. I’ve had people buy six, eight, 10 properties in a six month period and they’re able to retire all five, three, eight,