All Forum Posts by: Cameron Elliott

@Wayne Brooks, yes, that is great insight thank you! Maybe asking about the time involved and legal fees so far can help set the frame of my offers.

@Chris Seveney, running scenarios is a great idea also! I like the idea of basing my offer relative the worst case scenario, might not close as many as if I were to go higher, but as a beginner I probably need to keep in mind “the fewer I close, probably the more profitable each individual one will be” (the lower my offers are, the lower my close ratio will be).

And probably a better place to start, than as if I knew what I was doing. :)

Thank you both for your wisdom.

Cameron

Hello,

I am new to NPN buying, and am wondering if any old hands want to share their know-how.

I am going to be buying rights for liens for debts that are not current, and could need forclosure to recover.

I am curious how others set the discount price they offer on a NPN or lien from the full value of the debt,all fees & interest?

I am also curious how experienced pros justify their discount figure, ie, how do experienced NPN/lien buyers justify their offer. Is it something along the lines of: "Sometimes it takes years from the time of a foreclosure filing to remove an occupant, sell, and recover funds. And in some cases the expenses for legal fees can be double or treble the original judgement amount by the time the debt is recovered."

Any thoughts on doing this well are appreciated.

Cameron