All Forum Posts by: Dan Deppen

I talked to them at Note Expo. They said they were launching a new site and would shift everything over from the current FCI Exchange. So they are technically closing FCI Exchange but its not really going away. It sounds like they didn't communicate what they are doing very well.

I'll be there!

You can definitely do it part time, I did. But its a lot of work and far from a passive way to make money. Building the right relationships takes a lot of time and doesn't happen overnight. 

I never bought from the online brokers. Some of them seem to have a lot of sketchy assets that are over priced. You do need to find your own sources which can be a lot of work. I haven't specifically bought seller financed notes, but mostly bank originated notes and CFDs.

I'm not sure what the answers should be. But I would add a category for loans that are paying every month and are 1-3 months behind.

If I recall, at Note Expo last year Eddie Speed mentioned there are probably around 5,000. 

If you want income producing assets that produce passive income, I would look into performing mortgage notes. Of course notes can stop paying at which time they become far from passive..... But you could potentially look at hypothecating them and working with someone who can work out any notes that become non-performing. This would keep you away from rehabs, dealing with tenants, etc.

I agree with Dennis, I'd be shocked if Chase talked to you about a one off loan.

@HAILEY ERSKINE If you want to learn more about notes, there is a note meetup in Denver that usually happens on the 3rd Thursday of the month. I can put you in touch with the organizer so you can get on her email list if interested.

Hi Jimmy, I made a video a while back where I listed sources for buying notes. If you send me a PM I'll give you the link.

But make sure you get some training before diving in and trying to buy notes. It usually takes several months of training and studying before someone is ready to actually start buying.

There are plenty of opportunities, but as Chris mentioned its also a lot of work. In my opinion most people don't have the stomach to get through all of the details and systematize things. But if you do there are lots of good deals available.