All Forum Posts by: Jay Raught

@Bernard Braithwaite if you have no equity coverage over the first you get nothing....  First means first and they get everything first... You may hope the first works out an agreement with you but they aren't obligated.  

@Account Closed you inherit everything!  We passed on a note last year due to the huge sewer lien on the property, it was an insane amount. So insane I am not sure how they had been able to go that long without paying! Due diligence is the key! Good luck and keep reading! 

@Taye N. your first lesson in due diligence!!!! I hope this list added some value and awesome comic relief!!

@Todd Schmitz just send Wayne a colleague request and type your message. Good luck with notes and @Wayne Snell can definitely assist you!

Welcome @Tom Sawatske and good luck. Any note investment I have is outside the state I reside in!  I wish you much success!!!

I figured I'd toss some humor in with it! 

Education:

• Scott Carson - weclosenotes.com He is also on youtube, he also holds a weekly webinar.
• Dave Van Horn - pprnoteco.com/ Check out his website.
• Donna Bauer - thenotebuyer.com/ Check out her site
• Bob Malecki - rcm.company
• Eddie Speed - noteschool.com/ Check out his site
• For a list of seminars - Seminar search . Also search for Distressed Mortgage expo and Noteworthy

Books:

• Invest in Debt - By James Napier (oldie but goodie)
• Performance Anxiety by Gordon Moss

I have seen this question posted numerous times here on BP so I figured I would post some helpful information regarding where to find education on Notes.  Rather than post a question on where to look and waiting for a response..... GOOGLE is your friend!!!!! Below I will list a few of the sources I used, or you can use to educate yourself on notes.

Education:

• Scott Carson - weclosenotes.com He is also on youtube, he also holds a weekly webinar.
• Dave Van Horn - pprnoteco.com/ Check out his website. 
• Donna Bauer - thenotebuyer.com/ Check out her site
• Bob Malecki - rcm.company
• Eddie Speed  - noteschool.com/ Check out his site 
• For a list of seminars -  Seminar search . Also search for Distressed Mortgage expo and Noteworthy

Books:

• Invest in Debt - By James Napier (oldie but goodie) 
• Performance Anxiety by Gordon Moss

Podcasts:

Notemba - They like it when you call it NoTEMBA instead of Note-MBA!!!

Note Buying Cash Machine is another

Bigger pockets podcast 028 and 211

Now the next question will be "Where to find notes" The places listed in the education can also provide sources for notes.  You can also call the banks. Be relentless when calling them. You wont make it the first time.  Build your network and leverage the ones who have the contacts.  Also do not try to learn everything, go with your strengths and let the power of your network shine. I am no expert but my network is. Without it I would not be successful with notes! 

P.S. ~ No amount of educating and analysis paralysis is going to teach you everything, each note is it's own educational seminar. So either keep searching and saying "once I" or learn by doing!!!  Good luck!

Bob, 

We purchased a 2nd npn and while we were reaching out to the borrower, they filed bankruptcy thereafter. We are being paid through the trustee and have received two payments so far.  This may help you find more information.... https://www.pacer.gov/   This link may provide information on the reason for the length.    http://www.nolo.com/legal-encyclopedia/bankruptcy-exemptions-state . 

Ask them if using a servicer like FCI, SN Servicing etc qualify? Id be interested to hear.