All Forum Posts by: Account Closed

Chris Seveney

Michael Hayes I'm very new to the world of note investing but this sounds like something that could be worked out that way. Maybe you could get a DIL (deed in lieu of foreclosure)? That might not be the right approach but I'm looping some guys into this post that can probably help. Sounds like an awesome opportunity. Best! Wayne Snell , Adam Adams , Bob Malecki

Bob Malecki - yep, I get it. Anything's possible.

Thanks for the last link Kelly Byrd . I'm also considering using the HELOC to lend to a HML as Dave Van Horn suggested. I'll look into institutional notes as well.

Varinder Kumar I really like the idea of using OPM too but I don't see why anyone would lend to me at 6-8% when they could buy the note themselves and get 12-15%. Are the terms of your deal much different than this? Help me see the value here.

Jordan P. - Have you found a good source for partials?

Daria B. The benefit of using a performing note would be that it is performing. So, unless it becomes nonperforming, it should be pretty straightforward and there wouldn't be any workout or FC costs, for instance. But, as Jordan P. mentioned, the longer terms associated with a performing note could close the spread. An NPN or partial makes some sense in that regard.

Got it, Patrick Desjardins I'll be in the borrower-occupied camp!

I'm considering buying a note or two with a HELOC. Although I'm generally leaning toward secured 1st position NPNs, it seems like a PERFORMING note (either a 1st or 2nd) would be the best way to leverage it. As long as the spread between the cash flow on the note and the interest on the HELOC makes sense, this is a no-brainer right? Any reason not to throw a HELOC on a note?

@Patrick Desjardins - Thanks for sharing. Glad you had some homeruns to keep you in the game.

@Adam Adams - Wow! That's some pain...and it definitely provides the perspective I'm looking for.

@Christopher Winkler - I've heard some investors say that it's an adjustment learning to buy notes instead of rentals because the property matters so much less. That appeals to me, but I guess it depends on the investor's strategy. Thanks for sharing.

@Bob Malecki - Crazy! Owner-occupied make sense to me.

@Dave Van Horn - 10-4!

Anyone out there particularly fond of buying notes on houses that are vacant? If so, why?