Note Investing - What's Your Biggest Fear

[Chris Seveney]

Typically I hear from other investors about their biggest fears in Note Investing. Do you have one? The most frequent I hear are:

1. You are investing out of state

2. You cannot see the inside of the property

3. A borrower will find you and come after you

4. You may have to foreclose and kick someone out of their house

[Jay Hinrichs]

Originally posted by @Chad U.:

Originally posted by @Chris Seveney:

Typically I hear from other investors about their biggest fears in Note Investing. Do you have one? The most frequent I hear are:

1. You are investing out of state

2. You cannot see the inside of the property

3. A borrower will find you and come after you

4. You may have to foreclose and kick someone out of their house

That the city will condemn the property due to its unsanitary condition that the borrower was living in, and won't release it back to you as the rightful owner until you jump through a million hoops and needlessly spend an exorbitant amount of money on their "city approved" contractors.  Even though you have foreclosed on the borrower and had them evicted.  

or you drive down the street come to your address and its a vacant lot.. city has already demo'd it..  been there done that a few times.. you just have to do a big belly laugh when that one happens