All Forum Posts by: Account Closed

Finish our 2nd flip, sell for a profit. Transition our business strategy from fix & flip due to extreme lack of inventory over to mortgage note investing. Purchase 2 performing notes and 4 non-performing notes in 2021, get the 4 NPN's in the process of loan modification. Research starting a investor fund to gain more capital to scale.

As we shift our business towards note investing, I am challenged by the fact that note investing requires more capital than other forms of RE Investing.

So far my thoughts are to purchase non-performing notes, get them re-performing and sell them to gain more capital, flip them essentially. We could also use our credit lines to purchase performing notes and NPNs.

I am in the midst of educating myself on strategies and building the team. I just purchased Jimmy Napier's Invest in Debt, and I'm finishing Martin Saenz's book currently. The book Lienlord was also helpful.

What are some ways note investors fund notes to scale quickly for cash flow?

For note investors, what is the Collateral Management Company you use?

Our investments currently are in fix & flip SFR's, precious metals, stocks/mutual funds, and we are starting note investing as well. We also make money on lending money to our business, which uses the funds to fix & flip SFR's and purchase notes.

Anyone use Yelp Business for off market deals? I had an idea to set up my business there so people could contact us and we could set up appointments to go see people to buy their houses as another lead funnel.  Anyone try this and use Yelp Ads to drive potential deals to their business?

Anyone work with Equity 1 Loans in Bakersfield? I would be grateful if you could share you're experience.

No general contractors just yet, only specialty contractors.

I would be interested to know if anyone on the thread is seeing differences in A class neighborhoods vs C class neighborhoods.  In my area it seems like B and C class properties are selling fast with multiple offers, A class are slow, anything above $300K.  Thoughts?

@Jeff C. great point.  Bakersfield's economy, focused in essential products and services has been resilient.  We recently made the news as the 7th fastest recovering economy nationwide in 2020 from the economic sledgehammer of COVID-19.  This, combined with the fact that people from California's 3 mega-cities are reconsidering the central valley with the advent of remote work, I think our market has more room for growth through the end of the year at least - not an economist, just my observations.

I haven't worked with them but references of happy customers you can call and a list of recent fundings is good.  How did you find them?