All Forum Posts by: Michaela McCoin

@Chris Seveney

Not raining on a parade all. I agree, as someone said, that this response should be an auto pop-up to posts like mine. I am very thankful for your thorough reply in that it actually gave me some confidence in our partnership situation. Several of your points we received (at least some) information on in the workshop. Others we have begun to work out on our own. 

I can see that software is a particular weak spot in our planning, so thank you.

Funny, the scenario you described is exactly what we were taught. We were also taught that there is the possibility of selling the note as performing after seasoning (if that's the way it goes). I am interested to hear your perspective on the feasibility of that scenario. 

Again, I so appreciate the time you took to provide this information and advice. 

Michaela McCoin

@Terrence Evans My grandma lived in Lomita my whole childhood!

Thank you. We do get that notes are not RE. 

In the course, we were told Non-Performing sold in the 55-62 cents range. We are using that info to make a pretty firm buy box.

@Richard Allen Thanks! 

Yes- such great advice. I was counting on it! We are definitely looking to JV with more experience. Thankfully we do have connection to people who might work with us on this.

Michaela

@Jay Hinrinchs (why won't that work?)

Hmm- Food for thought. Thank you so much. We are actually kind of interested in the work right now as a learning experience. We are not looking to make millions, just interested to try our hand. 

The price WAS right! and it was seriously packed with good, actionable info (as far as I could judge). I was impressed. We signed up partly because I had heard Paige speak and I believed there was a commitment not to up-sell. There WAS a bit more than I expected, but not at the level you mention. 

I feel like we definitely got our moneys worth. We'll see where it goes. 

Thank you again for the advice. We will certainly take it in.

Michaela McCoin

@Peter Halliday Thank you!

@Jerry Jones Hi. Were we in the same class? Lots of info, huh! I know Paige gave good suggestions for finding tapes too. I just wanted to mine the wealth of info here as well. How is it going for you?

@Jamie Bateman, Thank you! I'll check it out.

Michaela

Hello, 

I feel at risk of being a stereotype here, but it's worth the risk! 

My partner and I recently took Paige Panzarello's 3-day Building Wealth with Notes workshop. It was great and jam-packed! with so much good information. We are hoping to find suggestions for where to look for tapes of non-performing notes with the goal of practicing due diligence, researching, and making offers. It may be naive, but our goal is to complete a purchase (at least one) within 90 days. Our budget for this first deal will be on the smaller side, and we will be happy to share any due diligence results on deals that are outside our budget, if it helps someone.

There are specific states we are interested in. But what we really seek is any advice, guidance, and wisdom we might need as we begin this adventure.

Thanks in advance.