Investing In Mortgage Notes

[Laurie Pickerell]

Has anyone used FCI Exchange, and if so, how did that work for you?

[Dave Van Horn]

Thanks for the mention @Steve Babiak

@Laurie Pickerell

Worked out just fine for me. FCI Exchange can be a great resource for notes but at the end of the day they're just a platform that lists notes for sale. I've personally purchased notes off of FCI Exchange, but I was still familiar with the seller I was buying from. There is protocol one has to complete to list a note for the site, so it does have more safeguards that buying from a random individual online. And depending on the note sale agreement, there probably is also reps and warrants in the contract. There's no guarantee of course which is why I always default to "know your note seller".

Another cool feature of the site though is that you can order a BPO and credit report directly through the site on a particular note. 

Hope this info helps!

Best,

Dave