Employee versus partner

[John Brennan]

Hi Everyone. So I have been taking my time learning about non performing note investing and am approaching a comfort level where I might begin investing in them. I have a busy day job that I plan on continuing regardless. I have a former employee who I am close with who only works part time and would be excellent at a lot of the skills involved in non performing notes like networking with regional banks, even borrower reach out. 

Does anyone have any experience or advice as to how I could most efficiently get this person working for me?  I could probably just pay a salary but they would be more motivated if there were some incentive.  I guess it’s important to point out that my strategy would be to hold on to any re-performing notes for cash flow. 

 I would rather not give away the farm because I’m coming up with the concept, providing them with all education necessary as well as doing all the funding. 

 Thanks in advance. 

[Chris Seveney]

@John Brennan

Before bringing someone on board I would recommend starting out alone. Reason I say this you should learn the ropes and understand the process and time required before hiring someone. Also you will probably realize that until you get a decent size portfolio managing notes is like watching paint dry and you can have the servicer or a 3rd party company who specializes in borrower outreach do that for you for what will probably be cheaper than bringing someone on board.