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This video is about High-Wheel Bike Race
What a Niche!!!
Last weekend, historic downtown Frederick, MD was home to the only high-wheel bicycle race in America. In its sixth year, the Frederick Clustered Spires High Wheel Race continued to excite spectators and riders alike. This race attracts local, national, and even international talent and had 27 total participants this year. The 27 participants were broken up into two heats of 20 minutes each to qualify for the championships. In the qualifying heats, riders had to complete as many half mile laps within the 20 minute time period. The top half in each heat went on to the finals. After a short, 30 minute break, the finalists took to the starting line up to compete for the overall grand prize – a great trophy and bragging rights for the next year. The winner, Per-Olof Kippel traveled all the way from Sweden to compete in the race, dethroning two-time Frederick Native to take the prize with 21 laps completed in the finals. Mr. Kippel is also a maker of high-wheel bicycles. It was mentioned that he had made 6 of the specialty bicycles that competed in this year’s race.
This type of bicycle is a one-of-a-kind, a niche sport, if you will. The high-wheel bicycle is also known as the penny farthling is comprised of a large front wheel and small back wheel. Many of the bikes that competed in Frederick’s race did not have any brakes. Now that’s scary. Some of the riders sit over 9 feet in the air when mounted on top of the bike. To get on, they step on a small peg/ledge on the back of the bike, hoisting themselves on top, and then beginning to pedal the bike into motion. When riders want to get off, they have to slow down the bike and then hop off as the bike is slowing down.
So, like the high-wheel races, note investing is also a niche, specialty within the real estate business. There are only about 5,000 note investors at this time. When people ask us what we do and we tell them we are note investors, most of the time we get a “blank” stare followed by a “What is that?” response.
A note is simply a mortgage/contract for deed or the piece of paper that is the promise to repay a loan such as a 1st or 2nd mortgage. In our case it is backed by the real estate.
The first thing is there is more inventory in notes than traditional real estate. Did you know that there are currently about 3 million homes under water? This means the borrower owes more on their home than what their house is worth. In addition, there are also a great deal of borrowers that are in trouble and are heading towards default. Recent numbers indicate there is about $31 billion dollars in loans that are over 90 days delinquent. That’s a lot of homes that Note investors have an opportunity to act upon. Plus, we see these properties 6 to 12 months ahead of traditional real estate investors.
The 2nd thing is Note Investors get better pricing on these distressed assets. Typically, we can purchase a non performing asset at 30-50% of Fair Market Value instead of the 80 to 85% that traditional investors pay once it hits the market as a Real Estate Owned (REO) or bank owned property that has gone to foreclosure.
The 3rd thing is with Note investing, there are more exit strategies. We have about 9 different choices depending on the asset. We have several blogs and videos on our processes from due diligence to exit strategies, so be sure to check those out on our website and YouTube channel.
So, like the high-wheel racers we witnessed last weekend, we are passionate about investing in promissory notes backed by real estate. Often times, Bike Homes takes on Joint Venture (JV) partners in their investing. These JV partners are looking to put their Self Directed IRAs or Investment Funds to work for them. We work with each JV partner to understand their investment goals. Whether they are looking for a passive return on your money or a more active role in your investment, we have a wide array of investment opportunities available.
By investing in promissory notes backed by real estate, your investment becomes essentially recession proof. We can help you turn your investments into win-win solutions. If your investment dollars are not performing to your needs or expectations, I encourage you to reach out to us to learn how you can earn potentially double digit returns on your investments by investing in promissory notes backed by real estate.
If you would like more information about Bike Homes or how we can help you turn your investments into profitable solutions, I encourage you to reach out to us at [email protected] or on our website at www.bikehomes.com. You can also visit one of our many social media accounts including Facebook or LinkedIn.
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