Non -Performing Note

[Shawn C.]

Investment Info:

Other note investment investment.

Purchase price: $43,500
Cash invested: $1,200

This is a first lien home equity non-performing note that was purchased by my company Wubbieta Inc. at at deep discount.

What made you interested in investing in this type of deal?

First lien non-performing notes can be quite lucrative if you have the patience and know how to negotiate them with the mortgagee.

How did you find this deal and how did you negotiate it?

We were able to negotiate a low price because it was a 1st lien home equity loan and many financial institutions do not like to deal with those in Texas because of the length of time they take to foreclose on. Another reason was because the property is located in a really rough area of town.

How did you finance this deal?

We made a cash purchase because we negotiated such a low price for the note.