All Forum Posts by: Peter Lipschutz

As long as there's some quality notes available for the individual investor (even if you have to do a little digging) then that's great. 

The author paints the picture that if you invest in NPNs, you're a sucker because they're trash, which is concerning.  

I contacted Don Konipol (the author) and asked him to jump into the thread.

I just read this article about NPNs:

https://papersourceuniversity.com/the-dirty-little...

Some of you may already be familiar with this article, but it's something that has always bothered me. 

One school of thought is, as the article states, the hedge funds, private equity firms, etc. buy these notes in bulk, skim the cream off the top, and sell them to the firms "downstream". This process repeats until it reaches the private investor who gets the garbage that's left.

The other school of thought is the large firms don't bother working the notes. They split the notes into smaller groups, take a "small" percentage, and sell them.

As far as I'm concerned, this is a HUGE issue as to the viability of investing in NPNs. I would love to hear opinions on this. I think an open discussion would benefit every investor.

Great idea! Thanks.

Patrick, thanks for the reply. 

I think I wasn't clear. I just wanted to know how you verify that the owner is actually living in the property?

How do you verify that a note/mortgage is "attached" to a owner occupied property? When reviewing a tape, is the provided address the property location or the borrower's mailing address (I assume it's the property.)? How do you match them up?

Thanks.

All the responses have been really helpful. One last question. 

Can anyone point me to where I can find the marketing data, such as market appreciation, employment trends, etc?

Thanks.

Thanks guys, lots of good sources to check out.

Besides judicial and non-judicial, what criteria do investors use when deciding which states to invest in? 

How important is it?

Where do you find the information?

Thanks!