All Forum Posts by: Marco Bario

Thank you Mike, I knew there had to be a simple answer. That helps a lot and the order in your workflow makes sense. 

I noticed FCI Exchange has indicative bids, but wasn't aware that it's common overall, as it sounds like from your post. Also great to know.

Thanks again and Happy Holidays.

I was just looking at notes for sale on FCI Exchange and noticed a few of the Non-Performing 2nds priced >100% of UPB. They also happen to be in bankruptcy.

Here's one:

• Seller Asking: $43,196.47

• Current Balance: $32,796.65

As I mentioned, it's in bankruptcy.  Perhaps the real story comes together when reading the seller's comments?

"Pre-Petition arrearages of $24,816.84. Post-Petition balance of $27,024.91. Borrower will make post-petition payments to creditor. BK Trustee will make pre-petition payments directly to creditor. Monthly payment changes to $316.30 on 3/1/2022."

I'm new to notes investing, and especially new to bankruptcy. Would I really be buying $51,842 ($24,817 + $27,025) of outstanding debt for the price of $43,196? 

Thanks!

I recently took a "title record searching" course in San Diego County offered by Ward Hanigan and his son Eric which included visiting the local county office and performing hands-on title searches. It was a great under the hood view of real estate titles – not to mention how and what gets attached to them. I recommended it. Ward originally developed the course for those interested in foreclosure sales – where it wasn't cost effective to pay a title company to research titles by the dozen prior to each auction. But my interest in the course was as an aspiring Non-Performing Notes Investor. 

As is the case in San Diego County, and Los Angeles County where I live – most title records are only searchable in person, but NPN investing is spread all over.

I'd love to learn how others evaluate titles prior to purchasing Non-Performing Notes. 

Thank you,

Marco Bario

Sherman Oaks, CA

Martin, I love the mission and the book - which is very real world from a person who actually does the work. I appreciate that. I'm sure those who you help to stay in their homes appreciate it too. Capitalism and making money have a mixed reputation these days. I argue back that because there are bad Capitalists doesn't itself make capitalism bad. 

Almost done with the book. Nice to make contact with you and I will probably be back in touch soon.

Best,

Marco

Hi Martin - I was about to post a reply sharing that I’m reading a very good book on note investing where the author targets 30% from non-performing notes. Then I realized that author is you. Funny... I read that chapter just last night. I wondered if that’s an annual return target - understanding it could take a year to begin to see any return from a non-performing note, or overall ROI. Thanks so much Martin. I’m learning a lot from the book. - Marco