Investing in Notes - Best way to learn quickly & possible JVs?

[Suzanne P.]

Bigger Pockets continues to amaze me - thank you, Josh and Brandon for creating such an amazing forum & knowledge treasure trove! I listened to the podcast with Dave Van Horn yesterday about note investing. I have some experience with this since I have been lending on second mortgages in Canada with a return of about 12 to 13%. These were new mortgages that were originated by a mortgage broker and I was the second mortgage lender who was secured through a 2nd mortgage. Since I needed more cash flow/ a bigger return I have started to do joint ventures as the money partner with active investors on flips where the return is significantly higher. But the passive nature of mortgage lending has always intrigued me and that's why note investing sounds so interesting. In the podcast it certainly sounded like note investing can offer much higher returns than what I was able to achieve through 2nd mortgages. 

Because I believe in leverage I would be most interested in learning how to invest in notes on junior loans (2nd mortgages), performing and non-performing. Listening to Dave van Horn's podcast it sounded like there are a whole range of investment strategies with notes and different exit strategies (re-working the loan, selling the note, using the note as collateral for another transaction, and probably a few more...). I also like the idea that note investing contributes positively to the economy and can provide a good solution for a borrower who has experienced some difficulties.

I have downloaded Dave's ebook but need to get a bit more detailed knowledge to truly understand the business and the potential of investing in notes. I also read in another post about finding a mentor in the notes investing world or even joint venturing with an experienced note investor. I am familiar with JVs on the flipping side of real estate but I can't quite picture how a JV would work in the notes investing business.

At any rate, I would definitely like to learn more about note investing and would appreciate any input from other Bigger Pockets members out there who can point me in the right direction, would consider being a mentor or who would can tell me what a JV looks like in the note investing world. Thank you in advance!!!!