All Forum Posts by: Lauren Sanford

Quote from @Dawit Wo:

@Lauren Sanford

I barely learned I could resell and estimated around 50k at 0%. It's an investment property so I thought dodd frank didn't apply. Are you able to share those 14 items and the chart?

 Yes if it's a business to business it does not.  We discuss this on our show.  However a 0% loan at 50k payments are around 208.33 a month.  For a note buyer to buy this note and get a 12% yield, they would have to buy this for around $1,400.  

Quote from @Dawit Wo:

I wanted 15k down and 30yr @ 10%, but he insisted on 5k down and 15yr @ 0%. 5k is nearly half my cost basis which includes the adjacent property so I pushed the term to 20yr. I'd much rather sell and reinvest but it's in a rural area. If it actually goes through, my plan is to use this money to fund my Roth IRA after I recover my basis.

How much do attorneys typically charge and who pays?

Just note that if you are looking to resell this note to note buyers you need to Structure this in a particular way.  We typically look for 14 items when we buy notes.  Also be sure you underwrite them to ensure they have the ability to repay (dodd frank).  We have a chart that breaks down what the expected discount based on interest rate if you are interested in selling.  At 0% you will take a very large discount.  

@Carlo D. We been in the space since 2010 and on one of our "Real Estate Notes Show" episodes we discussed this specific topic.  Yes certain states require a debt license even if you use a license servicer.  

However sometimes it depends on how your company is structured.  If you want to learn more let us know. 

You can also learn more via NMLS

https://mortgage.nationwidelicensingsystem.org/slr/SitePages...

@Steve Schmidt similar to @Jay Redding and @Alecia Bolton JKP has been long time buyer of partials.  We actually had a entire note podcast episode dedicated to understanding selling/buying partials.  We can also help sell it if we can't agree to terms.  

Quote from @Tara Davis:

Hello, I have been educating myself on mortgage notes, an I am ready to buy. It is very difficult to find them on websites other than paperstac. I also would like a service loan provider or some type of assistance to walk me through the first process, to understand the business and become more comfortable as I continue my note investing. Is there any advice you can give me? 

Sure!  I would join social media groups that are about note buying and ask other note investors if they have notes they would like to sell.   

Regarding the servicer for your loan, that depends on what state the loan is in.  We collected all the different main servicers and their fees for comparison then shared it on our resource list.  

It sounds like you are looking for a "mentor", we would recommend turning to videos/podcasts to learn first before you start paying for those services.  Many experienced note buyers have their own shows (including us).

@Patrick Roberts You can also join our JKP Groups as well.  We have a full directory of Attorneys nationwide that other note buyers have shared.  JKP has been buying notes for over a decade so feel free to check out podcasts/youtube channels for more information.  Networking and connecting with other investors is always the best way to learn. 

Actually our next Live Real Estate Notes show, is about Collateral Review with Attorney Dan Barham this Friday.  Reach out if you want more information. @Eddie Fernandez we hope to see you there as well

@Rijul Gupta We love this investment vehicle!  What did you find some interesting about it?  We could also possibly help you.

I would reach out Erin Quinn or if you need other names we have a full Resource list in our Due diligence section of our Website.

@Arianna Farinas What state?

Quote from @Reggie Smith:

@Chris Seveney I would definitely be interested in your new product that your rolling out in the next 3-6 months.  I have been taking Tracy Z courses and learning more about the note investing space.  Still looking to do my first note deal, as my preference is to create seller financed notes that I will hold.  

 We also have about 150 note assets for sale if interested.