Performing Note Broker Contract

[Patrick Sloan]

I am interested in purchasing performing notes from a hard money lender, so I've been trying to do my diligence prior to simply handing over money.

However it seems a little more difficult to get a level of comfort with the folks I've been speaking with than I had expected, for example I have requested a sample of the contract up front so I can ensure I have recourse in whatever state the lender is investing in and I either get some hokey word document that really says nothing or I simply get a "No I'm sorry we don't do that". Am I missing something? I have never purchased performing notes before so I really could be missing something but I keep hearing that voice saying if 12% - 18% ROI seems too good to be true it probably is?

Thoughts suggestions recommendations?