All Forum Posts by: Alecia Bolton

@Chris Seveney Please share, that sounds like an incredibly useful resource.

@Herbert Lewis  Tracy is one of the masterminds behind Note Investing Tools.  Their How to Calculate Cash Flow course is great at teaching you all the math you need to know to calculate deals with notes.  Highly recommend.

I also recommend both the Note Inc and Naked Notes podcasts.  Both start off very basic and build on concepts with each episode.  Note Inc is written as a spy show, which makes it pretty entertaining as well as educational.

If you're not looking to make this a business, you might have trouble finding a lot of inventory without belonging to a community with a trade desk or buying off Paperstac or NotesDirect or using a broker (which Note Investing Tools can connect you with through networking).  You can also find folks through BP that broker (I broker, but institutional notes).  

I joined the Note Assistance Program, which focuses on non-performing notes, but covers performing by default. They also offer a trade desk and a great community.

I'm also happy to talk about notes and building a performing portfolio.  I would highly recommend getting some education on how to deal with non-performing notes, because there's always the risk that a performing will become non-performing, and you'll want to know what to do (or who you can reach out to to help).

I'm getting to the point where my current process for getting realtor opinions for AIV/ARV is painful. What is your process for getting pics of the property to assess current condition and a BPO? Do you use someone local or are there nationwide companies that can provide this?

@David Putz I wonder if someone is maintaining a list of where all the servicers are licensed...I can't imagine that would be easy to keep track of, but I don't know how often they would change.

Having a resource that has all the typical fee info and service states for each servicer in one document would be amazing.

I'm using Allied and REPS/NAM. Allied has performing and partials, REPS has NPN, PN, and LSOP. I prefer REPS UI interface, but like Allied's fees. ($20 vs $45 for a PN)

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Cash Flow Expo (virtual): Feb 18-20, 2021

Note Worthy Summit (virtual): Mar 25-26, 2021

Diversified Mortgage Expo: TBD

Paper Source:

Note Expo:

AAPL: Annual Conference (In person Las Vegas): Nov 14-16

MBA:

• Feb 3 – 4, 2021 MBA LIVE - CREF21: Lending, Investing, Servicing and Technology Convention & Expo
• Apr 20 – 22, 2021 — MBA Live - Spring Conference & Expo: Independent Mortgage Banks, Secondary Markets, Servicing and Technology
• May 11 – 12, 2021 — MBA Live - National Advocacy Conference 2021
• May 25 – 26, 2021 — MBA Live - Legal Issues and Regulatory Compliance Conference 2021
• Jun 17, 2021 — Document Custody Workshop 2021 Ritz-Carlton Tysons Corner, Mclean
• Oct 17 – 20, 2021 — Annual Convention and Expo 2021 San Diego Convention Center, San Diego, CA

IMN: too many to list (www.imn.org)  They do have a NPL in Greece one coming up virtually on 2/24 (greece time)

I've bought from Aspen.  Just one note, but it was fast, easy, and has honestly been my fastest moving note from a paperwork/recording perspective.

@Jamie Batemantarted a 2020 conference list and I wanted to continue that, even in the virtual environment we're still mostly in.

Here's what I've found so far. I'll edit this post throughout the year when more are announced to make a master list. Since I'm sure I've missed some, please share and I'll them to the list.

Cash Flow Expo (virtual): Feb 18-20, 2021
Note Worthy Summit (virtual): Mar 25-26, 2021
Diversified Mortgage Expo: TBD
Paper Source:
Note Expo:

@Jamie Bateman

@Dan Nguyen To your question to Andy about BRRR. Yes, you can do what you stated. But, there's no guarantee you'll get the property back if you foreclose. In most states, it goes to a foreclosure auction and only comes back to you if it doesn't sell at auction. And if there are secondary liens against the property, they might still have claim to the property for a period of time (IRS is 120 days) which means you can't get refinance until after those liens are cleared.

@Dan Nguyen  There are several platforms where people will sell smaller pools or individual notes, several from institutions rather than seller-financed notes (e.g. PAC, Revival Brothers).  You can also do what Chris and others have suggested and make those relationships with equity funds.  

For me, I'd rather have someone else build those relationships.  A lot of time, if you don't have capital to deploy for a pool, the funds won't want to work with you.  

I belong to a program called the Note Assistance Program and one of their big selling points besides the education (which you can get elsewhere) is that they have a trade desk.  The owner of the company has the relationships with hedge funds and sellers already, and she brokers the tapes she gets from there.  For me, that cut out a huge amount of effort and allowed me to scale quickly without having a large amount of capital.  I can also buy one or two notes at a time or a small pool.  

ETA: I usually get NPN discounts from 40%-70% and PN from 80%-par from the trade desk