Investing in Bank Notes - General Questions

[Cary F.]

Good morning everyone. I find myself exceedingly interested in distressed bank notes. I currently use the tools of quantitative risk management to help manage large consumer loan portfolios at a financial institution. A major part of this work is optimizing collections, recovery and settlement strategies for accounts that are delinquent. These competencies would clearly assist me with note investing. 

My questions are as follows:

1. What educational resources would you recommend for note investing?
2. What are the reasons to get into note investing?
3. What are the reasons to avoid purchasing bad debt?

I know this is a niche in the REI space, but I feel that there are gains to be had. If you do answer this question, I would prefer that you either have knowledge or experience with note investing.

Thanks,

Cary

[Wayne Snell]

Cary, I exclusively invest in bad mortgage debt (1st position liens) because it consistently earns me an above average return on my investment compared with other options. There are a lot of people that have already addressed your specific questions on BP so you might want to read their posts. Happy to share a video with you for why I believe they are superior investments. They allowed me to leave my full-time W2 job last year as a VP of Marketing - PM me. Also there is a few Notes conferences coming up in the next few weeks that you might be interested in to learn more. 

1) Scott Carson's NoteCamp 3.0 (a virtual conference you attend online)

2) Papersource (in Las Vegas)

3) IMN Redisential Mortgage Conference (Dana Point CA in JUNE)

Thanks!