[VIDEO] Mastermind groups

I've been in a mastermind group for over 3 years and I think that it's critical to my success in business and investing.  Here are some of my thoughts.

Be sure to buy a copy of Invest Local.  You'll certainly get more out of my posts and videos once you've read it.

Enjoy

I did an interview on Friday for FTM Daily radio show. Great Episode!

I had the great pleasure of being interviewed by FTM Daily on Friday.  Great episode.

To learn about these and other strategies, buy my book!!

Negotiating Personal Guarantees on a capital lease [VIDEO]

I spent some time speaking with an investor who has read my book, Invest Local.  He was asking about whether or not to ask for personal guarantees on the lease he was thinking about investing in.

I discuss my advice and why my suggestion can help to determine the confidence of the borrower.

Thanks for watching.  Also, buy my book if you're interested in learning more about these topics.

The $75,000 Truck Loan that Wasn't

Time for a little story about a truck loan that didn't quite work out.  The moral of the story is that you need to have a process and an idea of what you're doing when you get involved in a private lending deal.

Enjoy.

Don't forget to buy my book.

Also, to download the 15 business finance articles for free, just put a 0 in the price box when it asks you to put in credit card information.

Another great review of Invest Local

Well known financial-issues blogger and author Danielle Park took the time to read Invest Local and posted a great review on her blogsite.

Take a look.

Juggling Dynamite Blog

New Video and an interview tomorrow

Hi, I took some time to modify my 'unboxing' video into a kind of commercial... check it out.

Also, I've got my first interview for a financial podcast coming up tomorrow.  I'll be sure to post a link here so you can all listen in.

dave

First reader feedback about reading the book and doing a deal in one day.

I heard my first piece of reader feedback.  A man who owns a business was approached by an employee who needed to borrow $2,000.  The employee offered to pay the money back by giving $1,200 at the end of the month and $1,200 at the end of the following month.  The repayment terms were proposed by the employee and were probably cheaper for him than going to a payday lender.

The reader said that he had been approached before by employees looking to borrow money and had always turned them down.  After reading the book, he looked at it differently.  He realized that since he pays them in arrears, he actually always owes them some money.  This would mitigate the risk in the deal significantly.  Let's examine how this deal worked for him and his rate of return:

PV  -2,000   He is giving the employee $2,000.  The money is moving away from him, therefore the figure is negative.

N             2   This is a two month deal.

FV           0   This is a fully amortizing deal, the money will be repaid in full after the 2 payments.

PMT 1,200   This is the amount that will be received each month.

I/Y           ?    We want to calculate the annualized yield on this deal.

I input the numbers into my BA II Plus Financial Calculator and get an annual return of 156.79%

I guess that reader's copy of the book has paid for itself already and he only had it for a day.



If you're not sure about how I figured this out or what PV, N, FV, PMT, or I/Y mean, you may want to buy the book.

-dave

Birth of a book?

So one of my goals for 2014 was to create some kind of new income stream for myself.  This is usually a goal each year and I usually achieve it in some way.

I was laying in bed on February 13th after having been to the Justin Timberlake concert in Toronto.  The idea came to me.. share what I know about private lending deals.

Today is March 11 and I sent my first book draft to a friend who has editing experience for a first reading.  25,000 words and we'll see what he thinks.

I wanted to use this blog both as a way to document the journey of putting out this book and promoting it as well as a forum for discussions on the topics within the book.  Let's see how things go.  I haven't done anything like this before.

Dave