Non performing notes through DebtX

[Katharine Chartrand]

I am looking at DebtX to buy non-performing residential notes. HUD seems to sell their notes through DebtX, but I don't know if they sell the notes in pools small enough (<$100K) for an individual investor like myself to take down. 

There is a 500 vetting fee, which I would pay if I knew what they offered and it was of interest.  However, you can't see what they sell and how they sell it without paying the fee. 

Does anyone know what DebtX offers?

[Mike Hartzog]

If you are just partnering up to purchase in bulk, I think a regular multi-member LLC will work if you define in the op agreement how the assets will be distributed after purchase. In other words, purchase the assets, distribute them, and close out the LLC. As I understand it from my discussions on this topic with one of my attorneys, the thing that treads on the securities laws is if you bring people in who are not knowledgeable about notes investing and you end up working the notes in the LLC rather than distributing to the members.