Thursday, November 7, 2013

BEING THE BANK

Have you ever thought about being the bank? Taking your money and lending it to secured borrowers and making big bucks?

Do you think it is impossible because you would need millions and millions of dollars? Do you think you have to be an accountant, a lawyer, or at least a bookkeeper? Well, I am here to tell you that you are wrong. While it would be nice to have that back ground, it is not required. Don’t assume that I am talking about a get rich quick scheme. I’m not. You still have to do your due diligence and investigate any organization that claims they can get you “big bucks.”

Everyone has kind of gone into the panic and retreat mode where every opportunity must be a scam. The thinking is “If you are making money, you must be a crook like Barney Madoff (i.e. Bernard Madoff).” But step back a minute. Are you saying that every wealthy person is a criminal? That there is no way to make money and have everyone from the transaction better off?

As I shared in “THE SHIFT TO PRIVATE MONEY LENDING--Is your 401K looking more like 41K?” money is anxiously hovering in the market looking for a place to come in and land so it can generate a return. Undeployed capital, as they call it, doesn’t do anyone any good. Minute by minute it loses value from inflation. It gets eaten up with monitoring and handling fees. (I hope everyone had a chance to see the PBS/FRONTLINE show called “The Retirement Gamble.” Excellent program. If you haven’t seen it already, make a point to watch.)

People are looking to jump ship from their 401K, investments in CD’s, and regular savings accounts because the funds can’t even keep up with inflation. They don’t want to lock their money into annuities losing all future control over their funds. Yes it sounds good that in the future you will be able to start getting a payment from the annuity for life, but you are much more limited on controlling what you take out of the annuity.

I mentioned earlier in one of my articles that I am moving forward to become a loan originator and thus I will be going through extensive training with Secured Investment Group (other departments include Private Money Exchange and COGO CAPITAL). But that is not what I am talking about here. I am not suggesting that you become a loan broker. No I am actually suggesting something easier. However, I am suggesting that you visit my website at: http://www.privatemoneyexchange.com/mspinvesting for more information and to connect with the individuals that an better explain the various ways that you can become the bank.

Private Money Exchange is the educational arm of Secured Investment Corporation. COGO Capital is the funding arm of SIC.

COGO can lend any amount up to several million per transaction and has funded loans as small as $8,000. But generally they prefer to keep the loans above $15,000.
What I particularly like about their funding program is that you as the “bank” get to review the loans in total—you can know everything about the loan and the borrower—and make an informed decision on whether you want to loan. COGO originates the loan (which I plan to be doing), finds the investor (you), sets up the escrow, follows through with the escrow office and borrower to be sure everything is in order, and then has you wire your funds directly into escrow. There is no opportunity for co-mingling or tampering with your money. No take from Peter to pay Paul such as was the case with Mr. Madoff. Everything is completely transparent for the investor and the borrower.

So if you have been wondering how you are going to be able to retire with the economy the way it is go to my website: www.privatemoneyexchange.com/mspinvesting and get busy. At least check it out. Don’t be looking back five or ten years from now realizing that you could have retired if you had only taken action now.


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