All Forum Posts by: Jay Raught

@Rich Hupper the price point. The ability to reinstate the loan. Some of the borrowers are in a different financial situation then when the loan was originated. Since you are paying a fraction of the cost, you may be able to rework, reinstate, modify.... Sometimes you end up with the property. Sometimes you get nothing and like it!!!!  

@Aaron Millis - all of the note deals were purchased from different sources and none of them local. I have placed offers with a local source but the bids did not win. Just depends who has what at the time, and if the #'s look good. What types of notes are you looking for? Performing? Non- performing?

FCI, PPR, are a couple of places.  Banks know what you are talking about but you have to get to the correct person. Most banks wont take your call... Persist.  Network and find others who have those relationships in place.  Learn as much as you can and decide if you want performing, non-performing, 1st or 2nd position.  There are so many moving parts.  I had 7 , now I am down to 5, but will look for more in early 2017.  All purchased notes were / are Non-performing types. 

Build relationships and learn who has the good tapes from the relationships they have built with the banks etc... I have purchased mine in this manner. I bid on a few in FCI and PPR but did not win the bids. If you want to learn more, reach out to me.  @Juan 

@Juan Reyesundefined

@Mark Gibbs. I agree with all of the above, we have your scenario in place on two, second position NPN. Actually one now, we have one that has been paying for about 6 months now.

If you are going into notes with that exit in mind you wont be successful.  Every single note you buy will have a different story, if you are looking for flips I would try another method.  States have different laws for foreclosure processes etc, etc.  Notes are note a fast moving entity( except a few here and there)  

Invest in Debt ~~Older but gives you an idea of notes

Performance anxiety ~ about seconds...

Note Buying Cash Machine Podcast

NoteMBA Podcast 

There are plenty of resources out there to help you get a basic understanding.  Scoot Carson has plenty of training on the subject, google him and good luck. Let me know if I can help you in any way. 

I have closed four deals from Scott Carson since May. I have also found JV partners using methods Scott has educated people on, (he was the first person I let know) I have been through his training - free, and paid. I am part of his mastermind group and the information and contacts made from this group are worth the "investment". The training can only go so far, you have to apply it to see its value. Cheaper than a college education and I will be financially set in a few years because of the education and the group Scott Carson has provided. As we speak I am working toward a goal of funds to bring to the next mastermind meeting! Hopefully I meet that goal. Scott Carson has helped me tremendously and I look forward to a profitable 2017!!!

Good luck!!!  Most of the pools are sold to institutional investors first, try local banks near you. You are going to be told no or blown off on some but keep at it.  Learn all aspects of notes so you have an understanding and can answer questions when asked.  The younger you start the better, I wish I started 15 years ago or so! 

@Sarah Junker there is much to learn in the world of notes.  What made you decide to try that route?  It is great to see younger folks invest in real estate.  Since you are here on BP, look up notes and read posts etc, add a few keywords too and it will give you an idea of what you need to do to become successful...

Notes are usually performing or non performing, in the first or second position. They start in pools or tapes as Don stated.  this business is all about relationships. Grow your network.  That will be your most powerful ally.  I made an awesome connection with someone in Ohio due to my network.  Good luck!!