“I always recommend people get as long a payoff time they possibly can with the lowest payment because you can always add principal to every payment to pay it down faster if that’s what your goal is.” -Bill Tan
Today I am interviewing one of my favorite people and educators, Bill Tan. I met Bill Tan years ago when I was first starting my FIBI Pasadena meeting. I consider him a mentor, dear friend and a pioneer in the transactional and note investing side of real estate. Bill has been investing in real estate for over 30 years. He currently is the president of the Los Angeles Investor Association also known as LAREIA. He is a former real estate broker and in 2012 received the Industry Achievement Award for being a master broker in the note business. He speaks nationally and locally at many different meetings, conferences and conventions. He has presented at my meeting many times over the years and is a highly noted educator and creative thinker.
Bill Tan: Began investing in real estate after he realized the value of his expertise working at a computer programming company. He started by obtaining his first rental out of state. While he was an LA Deputy Probation Officer, he was immersing himself into real estate on the side and began note investing. For 15+ years Bill was known as the note guy as he developed a creative way at handling difficult deals. He teaches the Financial Calculator class which occurs annually and the next one will be May 2021.
TOPICS COVERED IN THE EPISODE:
- Who is Bill Tan The Barter Man
- What is a transactioner
- What is an exchange marketplace
- IRS Tax code 1031
- The time flow of money
- How to fractionalize a note
- 15 or 30 year mortgage
- Asset agnostic
- What are some states to avoid buying notes
- Fiduciary responsibility
- Always read our closing documents
- Keep your deals organized
- Health savings account
- Making your investors whole
- Rely on 1st hand information when doing your due diligence
- Peter Fortunato
- Using self directed IRA and Roth
The Real Estate Breakthrough Show with Christina Suter is where we talk about the reality of real estate, the mindset you need and the tips and tricks to get you moving forward in investing. Join us every week and learn everything you need to know to invest in real estate education and create real wealth for a lifetime.
Find out more about Bill here: