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Updated over 12 years ago on . Most recent reply
Newbie investor interested in notes
I am in process of setting up a self directed real estate IRA. I am very interested in note investing. Anyone have thoughts on how to begin the process? I have a good financial background but new at real estate.
Thanks.
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#3 Guru, Book, & Course Reviews Contributor
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Welcome to BP Pat!
An answer would take a book to detail how to find them, making offers, doing the deal and servicing the note, then there would be the portfolio management refinancing and note modifications and releases.
I think to begin with, you need to understand the hat you must wear as a note holder. I would suggest you hold them in a business entity and have the serviced for you by professionals. I'm not sure what you mean saying you have a good financial background, is that in banking or insurance or what, how related is your experience to loans?
Buying notes is probably the most profitable short term investment I've ever done, it's great, if you know what you are doing. Where are you at in your understanding of the business.....more specifically?