Investing in Notes

[Rick Damian]

Good Day All...

Wanted to see if anyone has invested in notes on here, specifically 2nd mortgage notes. I listened to the podcast on here with Dave Van Horn who has had much success with this and it left me with some questions. I am considering using money from an old 401K and putting that into a CAMA plan. This plan is a self-directed IRA account that allows you to invest in mortgages and notes etc...

Basically if a borrower has defaulted on their 2nd mortgage I can buy it at a discount and try and convince the homeowner to an agreed upon amount without having to take legal action. There is a lot of due diligence involved in this type of investing, as I guess there is in all investing.

Any info would be great!!