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Updated over 8 years ago on . Most recent reply

Nik Krohn's profile image
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Nik Krohn
  • Investor
  • from Woodland Hills, UT
  • Member since Apr 29, 2016
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Nik Krohn's profile image
Nik Krohn's profile image
Nik Krohn
  • Investor
  • from Woodland Hills, UT
  • Member since Apr 29, 2016
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Nik Krohn
  • Investor
  • Woodland Hills, UT
31
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84
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Tax Liens & Mortgage Notes

2nd NPN (Non Performing Note) Successes

Nik Krohn
  • Investor
  • Woodland Hills, UT
Posted

I would love to hear from other investors that have purchased 2nd non performing notes. What percentage of these notes end up with a loan modification? This seems to be the best strategy out the gate. There are several other strategies as mentioned on this blog post:

https://www.biggerpockets.com/blogs/5359/39294-not...

One of the most recent podcast episodes mentioned by the guest that he purchased a 2nd NPN for .10 on the dollar for $4000 (40k debt) and then modified the loan. He got $4k down and $300/mo.

How often is this possible? 

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Mike Hartzog's profile image
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Mike Hartzog
  • Lender
  • from Redmond, Washington
  • Member since May 7, 2014
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Mike Hartzog's profile image
Mike Hartzog's profile image
Mike Hartzog
  • Lender
  • from Redmond, Washington
  • Member since May 7, 2014
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Mike Hartzog
  • Lender
  • Redmond, WA
490
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Mike Hartzog
  • Lender
  • Redmond, WA
Replied

I don't play in that sandbox.  Some do it successfully, and that's great, but I feel more comfortable with 1st liens.

  • Mike Hartzog
    • 3 Votes
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