All Forum Posts by: Eric Smith

Hi! What is the most effective way to market for non performing notes? Also, does anyone have suggestions on coaches? I’ve researched a couple such as Eddie Speed and Scott Carson. Does anyone have any feedback on these two or suggestions for anyone else? Thank you in advance!

@Wayne Brooks Thank you!

@Derek Kirkwood Thank you!

I can’t contact a buyer of a property that I own. They have paid on time every month for about 2 years but have suddenly disappeared. The phone numbers we have are disconnected. I’d like to talk to them before foreclosing. Possibly offering cash 4 keys? Does anyone have any ideas? Thank you!

Thank you all for the advice! Very helpful!

I'm having trouble understanding some of the forms when performing due diligence on non-performing notes found on Notes Direct. Specifically, the payment history (if I'm reading the report correctly then the borrower made a payment in 2018 when it was due in 2016?) and the title report. Does anyone have suggestions to help me learn more about what to look for so I do my due diligence with confidence without spending $30k?

Hi Mike,

How are you finding the address and number to the returned letters?

Thanks,

Eric 

I have my tenants send a money order to my PO Box. If it's not there on the first of the month, I send a 3 day notice to vacate.

Originally posted by @Cory Damon:

@Eric Smith Just curious, are you working with a portfolio lender?  Are they strictly a local bank, or regional, or state wide?  Great post, thank you for sharing your insight.

 Hi Cory,

I know they are just located locally buy may lend money outside of West Texas.

Originally posted by @Johnette Bishop:

Just wondering, why did you refinance the truck and take on a note instead of selling it for $20k and making 10k free and clear?

 Because, now, I have a truck to drive. I sold my previous car which provided some capital.