Bidding on Non-Performing Notes

[Wesley Wells]

I was just wondering what factors do my fellow investors use when evaluating a non-performing note to determine the offer for an asset on a tape? Also what price point should I typically expect for a note (i.e. Bidding 30% -40% of UPB) or is it merely negotiating the purchase price? There is a good chance my first offer will be rejected but I do not want to submit a offer that will not be taken seriously and prevent future business. Thanks for the help.