All Forum Posts by: Brian Byrd

In the Marketplace tab at the top of your screen, it has a drop down box to "Hard Money Lenders". You can then click on your state and you will see BiggerPockets approved Hard Money Lenders. Check out the forums on Hard Money Lenders and you should find a BiggerPockets subscriber that is a HML and you can PM them. One of them should be eager to answer any questions you have. Those type of Lenders do not necessarily care how many deals you have or haven't done, they care about whether they are easily going to get their money out of the deal. You will have to present a deal breakdown to them, and they usually fund within a week or two.

@Christopher Blanco, There are many discussions on "Hard Money" loans. Some will lend a very high percentage of "ARV" After Repaired Value of the property. They also charge points though. This may be a good place to start. My advice would be to truly read up on these forums and gain the knowledge and the understanding of what you want to accomplish, just like you are doing. I would also locate a Hard Money Lender and give him a call and ask as many questions as you can.

As far as your "IRA" goes, you can also look into rolling it over to a "Self Directed IRA" and avoid tax and penalties for things like real estate investment. Though, I am not an expert on IRA's, this concept should be discussed with a financial advior. But, it is possible.

Get involved in a real estate investment group in your area, many people say this, but few actually do it. The most dramatic way it could help, is you may get a chance to shadow someone who has been doing it for a long time. 

Good Luck!

@Sam Wydner, I have many connections all over Texas (Our bank is in Fort Worth), feel free to PM me to discuss some possibilities. I can probably steer you in the right direction.

@Travis Shaw, there are literally millions of owner financed notes across the country, with many yielding 12-15% after discount. While there are large institutional investors picking up packages of notes as Rich implied, there are still plenty out there both old and new to be purchased by "the little guys". In my experience in working for two different banks that purchase performing owner financed notes across the country, why would anyone want to deal with the tenants- rather than studying up and investing in notes?

I have purchased millions and millions of dollars worth of notes, across the country, but particularly in Texas, and have seen a certain type of asset class outperform the majority, in which not many people (in the note buying industry or just a personal investor) even consider. Our bank has a large portfolio of these type of notes, and the default rate has been less than .01% in the last 7 years. I would be more than happy to discuss how to go about finding these, and put away the hassle of tenants and focus on letting your money make money. Don't let the guise of "competition" fool you into thinking there are not new, creative ways to make money in real estate. Feel free to PM me any time!

Thank you gentleman for the replies. I really appreciate it.

I have received quite a few messages regarding different avenues I can take. I know that I could broker notes that our bank would not be interested in, but I could not in good conscious try to facilitate a deal during my business hours, so getting around that will be difficult. I would never buy a note for myself that my bank would be interested in, I love my job and I am dedicated to what I am doing here.

Let me ask you guys a question, that maybe has a simple answer that I can not figure out. @Paul Birkett, @Nathan Turner, @Bob E.

If I partnered with someone purchasing notes, who has available funds to purchase notes, what would be the best way to split the profit? I am assuming it would be along the lines of if that person has a required yield of say 10% and I find a note that can discount to a yield of 12%, I would take that difference off the top? Is there any way to structure it so I would receive part of the payments that I am overlooking?

Thank you all for the help. I love this site, it is incredible to me that there are so many people willing to help a stranger out to succeed in real estate investing. There is hope after all! Haha.

I have spent the majority of my 20's making my employers millions of dollars in purchasing performing owner financed notes with high yields. Every once in a while, I come across the perfect note that I wish I was purchasing for myself. I have worked for two of the largest Note Buying institutions in the country (both are banks) and although I learn something new every day, I feel I am an expert in finding, pricing, due diligence, and servicing of the notes I buy. The purpose of this post is wanting to ask the community if anyone has any advice on how to start purchasing these notes for myself, or for a private investor. I don't have a lot of money- but I have been saving as much as I can over the past couple of years. If anyone has any suggestions for a 29 year old, newbie personal investor, but a VERY experienced real estate investor. I know this community has answers, and I am open to any suggestions, like a sponge, waiting for the guidance that is biggerpockets!

Thank you all!