All Forum Posts by: Terrence Evans

@Lester White:I understood that part about who you are JVing with...

Given the sample terms you stated above, the payment would be $1213 less servicer fees. Where are you sourcing that note from? Or was that just an example?

What is strange to me is why would your partner in that case give you $120, $240, or so a month for 10 yrs when they could give you $3k upfront and call it a day. That is very odd to me.

An experienced note seller does not care about you.  They care about selling their note.  I'm just being honest. But I think we are getting a bit sidetracked.

Your question was: "is it possible to partner with an Note investor looking for a speciate note criteria of lets say, 1st position SF, Minimum Investment of 100Kk, at 8% , for 10 years and I come across a note that's fits his criteria and I JV with "0" money in on my behalf for a purchase price of 100K for the investor and split the monthly payment something like 20/80, 10/90 ? Would this be considered a finders fee ?"

Let me reiterate. If you can bring to an investor that wants such a note, sure you can be paid for that. Whether you call it finders or broker, it doesn't matter. But what I was trying to say is that I as a person who buys notes, would never give you that much for such a note or JV with you just because you brought me a note. It would be more like 3%. Notes are easier to find than an off market beat up house.. a situation where theoretically I may be more inclined to JV with that person.

I have to be honest here.  Whoever told or suggested to you the 0 money down concept as it pertains to notes is wrong or misleading at best.  It *CAN* happen with a few caveats.  But the most common way for new people to get into notes with the least amt of $$$ possible is either buying a cheap note, wholesaling a note, and/or possibly study under a note investor so that they can understand what to do.

I think for you, step 1 is get education.  Read up and watch youtube videos and podcasts from several of the note educators out there.  Step 2 is network with NOTE SELLERS and BUYERS.  But please please do step 1!!!!  Because if you do not, not only will you not be able to get OPM for notes, buyers and sellers will not take you seriously.

These are my thoughts. DM me if you have questions.

My other question would be how did you find this performing note? Typically you have to market in order to find them, which still requires money unless somehow you have a contact with a seller. And sometimes to be a note broker depends on the state where you live. In California you have to be a licensed re broker to do California notes and soon everyone will have to have some type of license to work in the note space.

Hi again. So the answer to your question is essentially no. And yes. So people will pay you a finder's fee but there is no way that they will pay you a finder's fee of 10 or 20% at most be 3%. I think that you are trying to bring the wholesale or bird dog model that you have with real estate into the note space. And that doesn't quite work the same over here. People will pay you a finder's fee or a broker's fee but the only time that people will JV with you is if you are bringing experience, knowledge, money, or something else valuable to the table.

You can as you can with real estate.

However the more relevant question is should you? Have you bought or worked out a note before? You should never never ever buy notes with other people's money unless you know what you are doing.

So you get a tape containing 500 rows and 30 columns of NPN asset information. What should you do next?

The October Monthly Brunches of Notes webinar on Saturday 10/24 will look at a NPN asset from a tape I looked at recently. I didn't bid on the asset but I think it would be helpful for folks to go thru some of the steps you must take to determine whether an asset you are analyzing is any good.

What are the things we should be looking at?? It is my goal that we spend much of the 90 mins to look at the following in real time:

• Location
• Property appearance
• Quick look at the borrower himself
• Establish a soft value
• Are there any DQ Taxes?
• Likely Exit Strategy

I am specifically inviting newer notes folks to the call but more experienced folks can join as well to share their best practices.

Webinar is free to attend. Starts at 9:45AM Pacific.

Go to https://www.eventbrite.com/e/o...  to RSVP.  Please follow the instructions regarding signing a NCNDA.  It is required due to the sensitive nature of information shared.  You will not be allowed to join the call until it is completed.

I am writing this post to attempt to get the pulse of the community here.  THIS IS TARGETED TOWARDS THE NEWBIES AND MID LEVEL NOTE INVESTORS ONLY, not the experienced.

How much have you paid over the last year -or- what is the maximum amount of $$$ you are willing to pay for a typical VIRTUAL 2 or 3 day note investing course??? What I mean here is the A to Z note course that teaches you all the basics and many nuances of note investing.  Industry experts are often invited to teach portions of the class. It does not get into advanced topics much. Now, I am not talking about symposiums like Paper Source, DME, or NoteWorthy.  I am talking about pure education.

What, to you, is a fair price?
(A) Nothing
(B) $100 or less
(C) $100-$250
(D) $250-$500
(E) $500-$1k
(E) > $1k

There are no wrong or right answers here. I am just doing research. Thanks!

Check an expert first but I don't see anything wrong with it as long as your sdira took actual ownership of it briefly before transferring it to the buyer. The only thing that can be tricky with sdira in general is paperwork and their speed in cutting a check.

I was planning on it if i didn't have a conflict.  But it seems that I do after checking.

Yep. But as Chris said, maybe it weeds out the newbies that aren't particularly serious about doing the biz the right way. This seems to be No worse than Georgia and some of the states back east.

For me, the Question is how much will it cost?