Starting a non-profit to forgive note debt

[Tim Rothermel]

Hi All!

I'm new to the note industry and looking to try a new angle on it.  (Well maybe not new, but I haven't found it yet).  I'm wondering if it's a viable idea to build a charity around the idea of buying distressed notes with the intent to forgive them outright.  In my initial research it seems like this may be possible if I target 1st lien notes and verify occupancy when doing the due diligence.

Just curious, does anyone have any experience doing or trying this at all?  Any thoughts/advice/warnings would be greatly appreciated.

Thanks!