Posted by Lynn on February 14, 2002 at 06:59:37:
I knew I could count on the good folks at CREO to be supportive. Thanks for the direction.
Lynn
Need to learn financing basics - Posted by Lynn
Posted by Lynn on February 13, 2002 at 21:49:32:
Just got through reading DOW and MMMH and found them very motivating with lots of creative ideas and sage advice. However I feel I really need to do some intense homework before I jump in with both feet(I’ve been out of school waaay too long). I’m sure its pretty simple for most of you out there but for the mathematically challenged (me)some of Lonnies’ little examples went so far over my head they’re in orbit. Can anyone recommend some really BASIC book, like “Note Structuring For Dummies”, that would help me understand the financing end a little better? I could always ask some fifth grader but that would be too embarrasing. I have been reading these post for a few weeks and know how supportive you all are.
Thanks again Lonnie for two GREAT books.
Lynn
“Invest In Debt” by Jimmy Napier - Posted by RobertR
Posted by RobertR on February 14, 2002 at 18:25:00:
This old book is an excellent introduction to using a calculator and understanding yield. Robert
Re: Need to learn financing basics - Posted by edc
Posted by edc on February 14, 2002 at 03:29:40:
www.wheatworks.com has many free programs and
an especially good mortgage calculator
Re: Need to learn financing basics - Posted by investorrob
Posted by investorrob on February 13, 2002 at 22:44:03:
Lynn:
Hey they have you covered. Go to any large store Like B Daltons and ask the sales clerk that you want the little book of preprinted interest amounts.
For example you want to know the total pay out of a note that will run for 4 years at 12 3/4 %. Flip through the pages of interest rates the smaller numbers are in the front like 5% —anyway you find 12 3/4 — then find 4 years or 48 months read across on the same line from the $8,000 and you will find the monthly payment plus the total payout.
That will give you all the info you will need to fill out a mobilehome note for your buyer.
After a week with the book you need to buy a book on real estate calculation. And a hand calculator, HP has 3 or 4 models of calculators that are designed for this. From $30.00 to close to $100.00 Look at the HP-10b is in the lower price range. Save your money for the high price one after you have done 30 lonnie deal.
LOL Just do some playing everyday with the calculator for 3 months and you will have it. Pratice is the key here. Ues some of the numbers from Lonnie’s books and see if you come up with the same answer. He gives quit a few. Just for fun see if you can find the one example that has slighty the wrong answer. Mmm Maybe Lonne corrected that in the latest printing. Mine are about 4 years old.
The very best of investing to you
investorrob