Bill Wrixon – Passive Income Opportunity Seminar Day 1
Bill Wrixon is part of a company called New World Lenders (Part of NDG Financial.) And when T. Harv Eker spoke earlier in the day he actually said he uses 3 of the passive income opportunities that are being presented today. This is one of them. He has some passive income coming from this company as does his daughter (he bought it for her for a college present) and his mother (she was losing money left and right and he told her to put some of her money into this company.) Anyway, Harv doesn’t tell you to invest in ANY of the presenters businesses, he just says they are here for you to learn from and if you like what you see then you must do your own research, he’s not officially recommending anyone to us.
Ok with that said, Bill just really spoke about his company and how you can get involved with them. What they are is basically one of those Payday Loan type of companies. The group of NDG Financial is one of the worlds largest online short-term credit providers. They are licensed under the European Financial Services Authority. They were founded in 1995.
They have over $725 million in annual sales. They lend to people when others won’t. They give out $5k in loans a day and only have a default rate of 10-16%. They get 60,000 leads a day and they convert 38.5% into loans. Plus, of the 60,000 leads, 85% of them are returning customers.
The PayDay Lender industry thrives now because…..
1) We moved to a here and now society. A cultural shift with a decline in our savings account.
2) The product is an unsecured line of credit.
Who are their customers?
Average Income- $51,000 / yr.
58% are college educated
68% are below 45 yrs. old
41% are homeowners
And as you might have suspected already they charge a crazy amount for the money, but as we know as real estate investors when you need money, sometimes it’s worth paying the cost (i.e. hard money.) Obviously, I don’t see myself getting a payday loan anytime soon but the fact is a shitload of folks all over the world get them. When I was in Cali, Kathy and I walked passed a payday loan place on our way to Alcatraz and the place was packed. I pointed it out to her and was like “how bout that?” (She, of course, was at the seminar with me and knew about NDG Financial.)
Anyway, their opportunity to earn yourself some passive income is as follows:
1) Minimum investment needed is $20,000
2) You get paid your interest monthly
3) Interest rates per year:
$20k – $99k = 12%
$100k – $249k = 13%
$250k – $399k = 14%
$400k and over = 15%
(interest on $20k will average $200/mo.)
4) 10 year Bonds redeemable every two years. Variable rate with fixed first two year term.
So basically, you’re lending your $20k for 2 years and collected $200/month on it. At the end of 2 years you’ll have collected $4800 in interest payments on your $20k and then you can choose to redeem your $20,000 or keep it invested.
Personally, I liked the sounds of it but I was thinking if I had $20k right now I’d probably buy some more atm’s. Perhaps in the future WHEN I have excess money and need other places to put it, I will revisit this idea again.
But if you are interested in more information now you can contact Maria Cesare-Bulmer by calling 604-587-6504. Or check out the New World Lenders website. The password is: canuck
Let me know what your thoughts are on this passive income opportunity?
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