All Forum Posts by: Rick Rapant

Hi Tracy, 

Couldn't find this note on the site. Can you send me the information. 

Thanks,  

Rick Rapant

Lakeside Property Ventures llc 

They provide enough information to educate you on the basics. I didn't want to spend that kind of money for a mentorship so I took there information and educated myself by reasearching deeper into the lessons they taught. I come from the school of hard knocks so I recommend educating yourself enough until you feel comfortable diving in to your first deal. A lot of people in this industry say it's a learning by doing business and I can attest to that. It's been an exciting, educational and profitable journey and I will continue to learn and grow in this industry.

Great post everyone. Thanks for the information. 

Jason,

Looks like they could be located in Dallas, Tx. Check out the Google link bellow. Just call and ask.

www.google.com/search?q=Harbor+Portfolio&client=ms-android-verizon&sourceid=chrome-mobile&ie=UTF-8

Thanks All,

A combination of what Rick Wang and Karen O said is what I thought. The 648K is the net worth. All my partials indicate in the legal eze that there is no discount for early payoff. I figured the asset values would only count as net worth if the foreclosure process took place. Thank you all for your input.

I think you misunderstood the question. I am the partial note holder of $648K worth of mortgages paying off in 4yrs. The value of the assets are $1M. I paid $500K for the notes. The net worth is at least $648K. Can the value of the assets be taken into consideration in the net worth?

Here's one for ya... Can anyone tell me what your net worth would be in this scenario: 

If you hold RE secured 1st lien position on $500K in note partials that have a payout of $648K in 4 yrs, IRR of approx. 11.24%, with the asset values of $1M what is your net worth based on? The value of the secured property or the $648K return?

@Adam Homan, Sorry for the late reply. Yes I am still buying partials. Currently have five. 3 paying regularly, one about to pay off and one I had to foreclose on that I'm taking possession of in about 30 days. Working on a couple of others. Do you invest in RE note?

There are many places depnding on what you're looking for. Performing, non-performing, re-perfoming, partials, etc. Lots of options and many contacts on BP.

Hi George,

I've done a lot of research into the note business over the last 2 years and continue to get an education on a daily basis and BP is the place to be for that. I started out in an introductory course on the NPN side of the business with Eddie Speed and Note School. Great education and worth the $400 and the $97 to join his site but I wasn't interested in paying $20k+ as an apprentice and work with a coach, etc, etc and go full time into this. Meeting him must have been a great experience. Eddie's course also touch on the PN side as well as the Partials which really interested me. So during my research I came across JW Warf from American Note Warehouse and his partial note business and education.

My experience with JW and ANW, American Note Warehouse, has been a positive one so far. To date I have 4 partials through him from another investor cash-flowing between 12% & 14% IRR. I have a 5th partial directly with ANW. They have also connected me with another investor who is property rich and cash poor looking for capital for flipping properties in Detroit. I closed on one of his deals last month. Basically JW and ANW match up sellers of notes with buyers. If you put yourself in a position contractually and legally and all your I's are dotted and T's are crossed you minimize your risk. Everyone will tell you that this is a learn by doing business because not every deal is the same. The key advice I can give you is to read this forum, ask questions, contact other investors, figure out what part of the business interests you, build your team then jump in. Hope this helps and happy investing.