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All Forum Posts by: Brandin Johnson

Brandin Johnson has started 4 posts and replied 23 times.

Post: Newbie investor interested in notes

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8
Originally posted by Loc R.:
Here's a daisy chain in a nutshell:

Legit Seller has a note. Tells Time Waster A about it. Time Waster A gets excited about it, but doesn't have the means to act on the deal and e-mails Time Wasters B, C, and D about it (of course he tells B, C, and D that he is entitled to a cut if they close).

None of them have the means to act on it, so they e-mail others, so on and so forth. Next thing you know, as the Legit Seller you have 40 people asking you about your deal, with no one really being able to act on it or knowing the exact details.

This is exactly right!.

Pat just make sure your talking directly to the seller or an educated and experience broker that can prove he is direct to the seller.Ask the seller(or someone who claims to be the seller)for the mortgage,note and assignment. If they are truly the seller or direct to the seller they will already have that information and will get it to you promptly, and if not you will not hear from them again.

Post: Newbie investor interested in notes

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8

Educate yourself on finding notes, and make sure to stay FAR REMOVED from daisy chains. Make sure the notes you are buying ARE ACTUALLY available and you are not purchasing product that have been sold already. Also I am a firm believer that the more exit strategies you are able to execute, the more successful you will be in note investing.

In my experiences when I've worked with banks and my investors to close non-performing notes I have never been asked or had to submit a Letter of Intent. My understanding of a letter of intent is that the Letter of Intent locks you into negotiations with the seller which disables the seller from marketing the note to other investors. Most of the time when I receive an LOI its always from a broker involved in a daisy chain of brokers, but again this is just from my experiences.

I've used lane guide before and I really didn't receive any success as it only gives you the loss mitigation department. I find in BIG BANKS(wells fargo)(deutsche)the place where notes are traded is called the CAPITAL MARKET Department. If your looking to do big deals over 2 million I would call the banks and ask for capital markets instead of secondary and allow your name to trickle down to the person doing non-performing.

Post: Re-activated Member out of Orlando,FL.

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8

Statewide. I work with financial institutes, mortgage lenders, and privately held mortgage owners to liquidate their assets. At times I receive product from outside Florida, and I do have investors looking for product in other states, but I primarily work in the state of the Florida.

Thank You Steve

Post: Re-activated Member out of Orlando,FL.

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8

I am the broker. Thank You Bill

Post: Re-activated Member out of Orlando,FL.

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8

Hello Everyone,

My name is Brandin Johnson and I've been a member of Biggerpockets for a while but I wasn't really involved,but I would now like to change that. Biggerpockets has provided alot of great information that I have used in my business dealings and I would like to give back. My primary background is in note brokering here in the state of Florida. I eventually want to own various amounts of mortgage loans for my own portfolio. I would like to thank Joshua for all the great improvements to the site and also providing a place for newbies to come and learn.

Thank You

Post: Quiet Title Action

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8

ok thank you dave..and thank you for replying jimmy

Post: Quiet Title Action

Brandin JohnsonPosted
  • Orlando, FL
  • Posts 65
  • Votes 8

Hey everyone,

I recently Icame across a property that I would need to do a Quiet Title Action. My title company isn't familiar with this type of transaction and nor am I. Does anyone have any information on what it takes to get this deal to close, and how long. I've heard from a few people that it may take 4 months for the quiet title action to be performed.

Thank You in Advance

so is the problem with bulk reo's that a buyer is not able to buy, or is it someone saying they can buy it and can't proof up, or is it someone saying their directly connected to the seller? I know someone looking to buy NPN, but he has a connection directly to the bank, and hes looking for more connection, but I really have no experience in that realm, but i see people send over tapes all the time..whats going on?