All Forum Posts by: Joe S.

Charles — great question. Notes are definitely a different lane than rentals or flips, but they can be powerful if you understand the mechanics.

A couple of “aha” moments I’ve seen with investors:

• You’re buying the borrower, not just the paper. The performance of the note depends heavily on the borrower’s ability and willingness to pay, not just the underlying collateral. That shift in mindset changes how you underwrite.

• The collateral still matters. Even though you’re not buying the property, you need to think like you are. Exit value, location, and condition all matter if you ever have to take the property back.

• Leverage looks different. Instead of traditional mortgages, many investors use note-on-note financing — borrowing against the note itself to recycle capital and scale faster. It’s a way to treat notes as a repeatable business instead of one-off deals.

On my side, I work with investors who buy non-performing loans secured by real estate, and we help them use short-term bridge capital to scale. That way, they’re not tying up all their cash in one note but can build a portfolio.

Curious — are you more interested in performing notes for passive income, or are you leaning toward non-performing where you can buy at a bigger discount and work the asset?

AI is sure getting spooky..

I'm working on a AI Agent for inbound and outbound

follow ups and it sure does sound exactly like a person.

Got the breathing, the "umms" and "ahhhs"

and it can be programmed to say and respond to anything

you want.

I may record a demo of it.

But this is the future and people are already used to

automation and calling their doctor's office

only to hear a virtual receptionist prompt.

But those automations suck. Point blank.

It's not the automation, it's the QUALITY of the automation.

I'm very concerned for all ISA's in real estate.

I don't know if I'll be the one responsible for job losses,

but I sure do know ya'll as ISA's don't have much time.

I’m working with a seller in Kansas City, MO on a 50-unit multifamily (studio lofts, built 2021).
The seller is open to creative terms, including possibly redoing the existing loan in the buyer’s name or seller financing with a significant down payment and selling Off Market Only.

For those of you experienced with creative financing on larger multifamily:

• What’s the best way you’ve structured deals like this?
• Do you see more success with seller carry, master lease options, assumption of existing debt, or another structure?
• Anything specific to watch out for with lender approvals on a property this size?

Would love to hear how others have approached this, and what creative strategies have worked for you in larger multifamily vs. smaller deals! Thanks!

– Maddy

Licensed Agent, KS & MO | The Bridge Team / 1st Class Real Estate KC

Equal Housing Opportunity

I recently closed on my first investment property, and I'm so glad I chose RTR! With my busy schedule at work, I was able to close in two weeks because of the great systems RTR has in place! The processes and partners gave me an awesome experience! A shout-out to my rep, Tommy Brown, who did a phenomenal job coordinating my project, providing the needed resources each step of the way for success in an efficient manner! He shared in a way that made it easy to learn as I went, moving at a fast pace without feeling overwhelmed. I am grateful for RTR's business model that empowers investors to "grow as you take action", but achieve an excellent outcome because of the support and excellent processes in place and a committed team. Tommy, you represent the RTR brand with excellence; thanks!

Quote from @Joe S.:

Quote from @Alan F.:

Everyone; IMO the BRRR template was dependent on cheap leverage, lots of REI was.

Looking to the future i think senior assisted living will be a thing. Lots of boomers are sitting on big equity in the Bay Area, they will want to stay around their kids. Some will move with kids so adding bedrooms & ADU'S. I believe many will go into rei houses that get converted to assisted living. So ADA upgrades etc. Sacramento greater area seems to be growing in that realm. The challenge IMO will be the operations and liabilities.

Looking to the future i think senior assisted living will be a thing.

I have looked in that direction and even talked with a couple of operators … securing the capital is only part of the challenge. It is Running a business… staffing and liability is what gave me cold feet.

Brian Burke is making a play for this asset class and he is pretty darn Smart !!!

Everyone; IMO the BRRR template was dependent on cheap leverage, lots of REI was.

Looking to the future i think senior assisted living will be a thing. Lots of boomers are sitting on big equity in the Bay Area, they will want to stay around their kids. Some will move with kids so adding bedrooms & ADU'S. I believe many will go into rei houses that get converted to assisted living. So ADA upgrades etc. Sacramento greater area seems to be growing in that realm. The challenge IMO will be the operations and liabilities.

So I own a 5 unit and recently bought a trailer.

I make decent money and save a bit but the market near me is wacky.

I’ve avoided out of state for fear of management from a distance.

I’d like to try it and I’m unsure if it’s a good idea and welcome any advice.

I’m thinking Memphis but maybe someone has advice?

I chose Memphis because houses are 110-150k and I can pick them up for 25k cash.

It seems there are many large mgmt companies, how do you know who to trust? Any recommendations?

Any downsides or advice before I buy my first out of state property??

Quote from @Joe S.:

Quote from @Benjamin Louie:

@Ken M.Oof… I saw that clip too, and man, what a tough situation. It’s one of those things you don’t think about when everything's going great in the relationship, but when it falls apart, all the legal blind spots show up real quick.

Honestly, this is why I always tell friends (especially younger ones) to treat real estate like a business, no matter how in love they are. If your name’s not on the deed, you're just a tenant with a liability, not an owner.

It’s wild how common this kind of thing is, too. I've talked to a few folks who either co-signed or helped with down payments “because they trusted their partner,” and it backfired big time.

Prenups, cohabitation agreements, ownership structures — boring stuff, but it matters so much. Hopefully, stories like this push more people to protect themselves up front.

Anyone here ever been in a similar situation or had to untangle a property mess after a breakup?

 Prenups, cohabitation agreements, ownership structures — boring stuff, but it matters so much.

Couples are scared 😱 to discuss this. One of the reasons is because the other party insinuates that they don’t love them and are looking for a way out if this is discussed ahead of time. It’s one of those oops if you talk about it now and oops if you didn’t talk about it then.

Also it’s usually the side that has less to offer that is the most against prenups… IMO

Prenups are for insecure people who aren't committed. :-)

My first & only wife and her first and only husband (me ;-), We have been married 47 years now, with I hope, another 47 to go. We didn't live together, we didn't pretend to be married,  we didn't have family to show us how it's done. We committed, we got married first, followed what the bible says about marriage.  

Both of us come from divorced families, my family was poor, uneducated with alcoholism, her family Harvard educated running a national company. 

We simply decided that we'd do it God's way instead, and it works.

When you buy rentals or flips, what’s your comfort level for reserves — a few months’ expenses, six months, or do you go all in and keep cash deployed?

@Ken M.Oof… I saw that clip too, and man, what a tough situation. It’s one of those things you don’t think about when everything's going great in the relationship, but when it falls apart, all the legal blind spots show up real quick.

Honestly, this is why I always tell friends (especially younger ones) to treat real estate like a business, no matter how in love they are. If your name’s not on the deed, you're just a tenant with a liability, not an owner.

It’s wild how common this kind of thing is, too. I've talked to a few folks who either co-signed or helped with down payments “because they trusted their partner,” and it backfired big time.

Prenups, cohabitation agreements, ownership structures — boring stuff, but it matters so much. Hopefully, stories like this push more people to protect themselves up front.

Anyone here ever been in a similar situation or had to untangle a property mess after a breakup?