All Forum Posts by: Account Closed

Thanks to those who've responded thus far. I must abandon the thread. Though I'd love to get into Notes, my money sources are more interested in flips and buy and hold properties. Thanks for all the feedback, I'm off to post in the Flip and Buy and Hold forums. Thanks again. 

@Rolanda Eldridge, thank you for the reply. 

Though I just posted this a day ago I must abandon it. Though I'd love to get into Note, my money sources are more interested in flips and buy and hold properties. Thanks for all the feedback, I'm off to post in the Flip and Buy and Hold forums. Thanks again. 

Hello, I'm new to Note Investing. I am planning to attend several Note Investing events but I can't attend them all. Which would you recommend I go to? The goal for the first event is to meet people within the industry. The next goal is to meet people on the distressed debt side to network with. 

Here are few events I know of:

PaperSource Note Symposium, Las Vegas, NV., April 27-29

Note Investor Summitt LIVE 2017, Newport Beach, CA., March 3-5

Note Expo, Fort Worth, Tx., November 4-5

NoteVision,The Bay Head House, NJ., May 6-8

Note Worthy Convention, Las Vegas, NV., Sometime in Oct.??

I know there are others so don't be shy. Please share.  Thanks a million for your feedback folks. I really appreciate it. 

Thomas 

@Scott Carson, I stand corrected. The 3rd point is wrong. I read the article wrong, thanks for catching that. Here are some articles supporting my attestation in favor of jr lien position non-performing notes (2NPN). Based on the information below indicated the market isn't dried up yet.  

• http://blog.credit.com/2015/10/the-new-foreclosure...
  
  • Article from 2015 indicating the second mortgages or HELOCS acquired in 2005-2006 are reaching the 10 year mark, where they commonly reset from interest only payments to repayment of the principal and interest. 
• http://www.housingwire.com/articles/33150-how-many...
  
  • References a RealtyTrac report that supports the information above. 

Of course none of this means A will happen as a result of B but if your a betting person, and we are, the odds look good that jr lien position non-performing notes will be in supply. 

Sure thing. Glad I could help in some way. Let me know if I can do anything for you down the road. 

Thomas Turner 

It's not to late to enter the market. Of course your question is broad so I'll focus on 2nd liens which is where I think I have the most knowledge. Some investors are focused on 1st position, institutional Notes, others are focused on 2nd mortgages or junior-liens, which is a lien on a property which is subordinate to a more senior mortgage or loan secured by a house. Junior liens are where your money can go a lot further if you can stomach the risk, type of work, etc. For example 2nds are gong to run you say ≤.30 on the dollar. 1st's ≥.30. 

I, like you @Stephen Bagnani am starting out with an undercapitalized warchest. I peruse a couple of websites everyday to get a pulse on the distressed debt market:

• http://www.distressed-debt-investing.com/search/la...
• http://www.dsnews.com

I've been looking at several indicators to judge the market. You might find them helpful as well. Here they are:

1. Household debt is high. One way to interpret the data is that high household debt indicates negative pressure and an inability for people to pay their other obligations.
2. Mortgage is the 3rd most popular form of debt. Houses are still being sold which indicates a percentage of these will devolve into distressed debt. 
3. From 2009-2014, 2nd Home Mortgages were on the rise. This indicates there is no shortage of Notes being created. At least 2nds.  

Should you jump in this game? Yes,  here's my motivational speech... @Stephen Bagnani, get in the game. Get some education and get in the game. Yes it will hard but there are opportunities everywhere. If you hustle you will find your way. If you are not ready you will soon find that out and move onto something you may be better suited for. Note Investing isn't easy. You've gotta have passion, drive, tenacity and be marginally psychotic :-) to do this but if you stick with it, learn the business and create a bit of luck for yourself, you'll succed.

Be The Bank. 

Yeah, that aspect helped draw me into Note Investing over the other REI strategies.

Thomas

@Robert Burns, I just finished reading Dave Van Horn's excellent eBook called Introduction to Note Investing. You might find it useful as well. I gave me a good overview of the opportunities and options I have in Note Investing. Dave's book can be found https://www.pprnoteco.com/learn/

I am not paid by Dave, nor do I personally know him, but I am grateful to him for his informative eBook. I'm just giving a newbie's honest opinion of his book and how it helped me get a better understanding of Note Investing. Good luck with your new endeavor Robert. 

Thomas Turner

Onyx Capital Management

@Chase Thompson, now that I've complete the VNBFD course I'm keeping the velocity going by getting right into working on completing items from my "One Things" list. Number 1, Have Business Entity Created before Friday, Feb 10, 2017. To that end, I have a question which I posed in the class, but I'll pose it here in case others have the same question. 

How would you about creating two portions of the business? For example, should I structure my business along the lines of a legal entity in the LLC and underneath that I have another business for the internet marketing presence to help raise capital and show fund managers that I'm serious. 

Thomas Turner