All Forum Posts by: Kimberly Banks Fawcett

Yup! It's not a debt servicing license which you get covered by a servicer. It's a debt owning/purchasing license. I am not an attorney nor do I play one on tv (lol) so go with the concepts and not the actual terms I'm using here. 

@Pavel Sakurets Just a quick comment on GA -- they require a license to buy notes. Currently, it appears that you can buy up to 4 per year without having an issue but that may go away. So that could be a good way for you to get into one of the "has a higher hurdle so some people stay away, making prices better" areas while also enjoying a fast FC timeline. That is assuming, of course, that getting your license there isn't a beating in and of itself. 

FC attorney in GA -- Beth Cruikshank. Tell her I sent you. She's in Atlanta. BP won't let me post her email address but it's her first name at her firm name. 

Hi Mike. 

I need more info to be helpful. This is a seller financed note? Or institutional paper your friend bought and now wants out of?

And you said you have the note but need the note. Which one was a typo? ;)

One thing I can answer now -- the deed of trust should have been recorded with the county. The county can send you an official copy that is as good as an original. Most don't charge much for that either.

Kimberly

Hi Gary.

My recommendation would be to never use someone else's ROI calculator. Your understanding of all the nuances in note investing will never expand like it will when you think about it step-by-step-by-step with real dollars and cents in play.

I think "what do I need to include in my ROI calculator?" would be a much more useful discussion for your learning process. So much so that I will start you off!

One of the things that I think many NPN investors forget to include are the property taxes that will be incurred during the workout process. If you are in a long foreclosure state and your holding period runs from 12-18 months, that can be a big number to absorb so it better be in there.

I hope this helps. Feel free to reach out if you'd like to discuss it further.

Kimberly Banks Fawcett
Inspired Capital Group

Hi Illona. 

I agree with Nahid. Scott's class is cheaper than Eddie's and he spends time focusing on what your first steps should be if you want to get started. Eddie's has great information but both will likely get you totally fired up about this part of the business and it helps to not feel overwhelmed if you actually know what to do next.

Hope that helps!

Kimberly Banks Fawcett
Inspired Capital Group

Hey Brian.

Great topic! Did anyone respond to you offline? If they did, can you share the information without disclosing the innocent party? :)

I'm working on this very topic myself. Let's regroup in say a month and see what we both find out!

Kimberly Banks Fawcett
Inspired Capital Group

Hi Sue.

Most of the time, you can find the note holder information in country records. Assignments of Mortgage will be recorded and those records are public. Netronline.com, under the Public Records Online tab, will let you search for the county and then give you links directly to the various relevant county departments.

That said, if a hedge fund owns the note, they may not record the assignments. They leave that for the next investor/buyer to clean up. 

Hope that helps!

Kimberly Banks Fawcett
Inspired Capital Group