All Forum Posts by: Jamie Bateman

@Dan Liston I am very sorry to hear this. I was one of the few lucky ones with Safeguard as I was able to take over the management of the loan and modify it and then got a payoff. Most were not so lucky. 

As you mentioned, it depends on numerous factors, with pay history being a big one. Are they with a licensed servicer? Is there solid equity coverage? You can expect to sell them at yields between 11% and 14%. Feel free to DM me. 

@Tom Gimer interesting. I suppose you are referring to origination, right? We typically buy existing debt but still good to know. 

@Chris Seveney the reason I don't pay too much attention to junior liens when buying a first is that the borrower could always add a junior lien after I buy the 1st. I can't control that. 

 @Blake Choisnet Paperstac is one exchange site. But overall, this is a relationship business. It's very inefficient, which is not always a bad thing. There are note brokers, Facebook groups, etc. Do you have notes you want to sell? 

@Chris Seveney well, I don't want to increase the demand for the next trade, but with the HECM NPLs you get interior photos prior to bidding. Removes a ton of risk. 

@Chris Seveney finally a thread that helps justify combining the topics of tax liens and mortgage notes on BP, ha. 

@Scott Trench you could never trade individual loans via PeerStreet, to the best of my knowledge. 

@Jeff Costa Zillow makes $ from outside RE agents and REDFIN is a RE brokerage (with its own agents). These listing sites don't make $ just by being listing sites. As others have mentioned, the note-investing industry is too small to support numerous listing sites that can be profitable from simply transaction-based revenue. The smaller note buyer ans sellers just don't create enough demand. And as a seller, I prefer to work with people I have sold to before. So I don't always need or want the middleman. 

Unless there exists some alternative revenue source for a Paperstac-like platform to profit from (beyond transactions) or some amazing value proposition not already provided by Paperstac, it's hard to envision a similar site for smaller players doing well. 

@Amaris Benjamin any of the options @Chris Seveney mentioned would be solid starting points. Also, Fred and Tracy Rewey have training specifically geared toward note brokering. Noteinvestor dot com. @Tracy Z. Rewey