All Forum Posts by: Jay Raught

You are better off trying to JV with someone. I haven't seen any hard money deals with notes.. That doesn't mean they are not out there.

@Matthew Thorp the second might be dismissed, it might not. Even if it is dismissed a lien could remain. There are several factors in play. If it is not dismissed it is all yours.  Oh and the second lien-holder can also foreclose. 

It depends on whether or not you invest in Non-performing or performing notes. NPN's are involved, PN are not. There area few books... check here for more info.. https://www.biggerpockets.com/forums/70/topics/411915-where-to-find-education-on-notes

Short version, let legal handle it.  I have yet to speak with any borrower. 

@Kim Smith  check this thread out. https://www.biggerpockets.com/forums/70/topics/411...

This should get you started.  Good luck!!

ASAP and non-performing notes,,,,, there isn't much ASAP with notes. they take time, and they will cost you $$$ if you buy the non-performing ones. Start with a performing note so you can build cash flow. If you go NPN, it will require time and possibly some $$ if you have to foreclose, use borrower outreach etc. Good luck, and remember, slow and steady wins the race!

Very interesting!!

Buying, selling..

That 2nd may not get paid back, but the can place a lien..... How much equity is there? We recently Foreclosed from the second position and we are now being paid.. 

I see pools of NPN all the time and have yet to have a list of the borrowers SSN.... In order to pull credit you have be the borrower or go through certification process that involves having an office, a locked cabinet etc etc... IF the note is performing there is a good chance that part of the credit is worthy.... if its not performing,,, well that's another game!