All Forum Posts by: James Kramer

Good afternoon,

We just obtained a property in Lorain, OH and we are looking to get the place rehabbed. Does anyone have any good rehab contacts out there that they could supply us? Thank you and appreciate any replies.

Good afternoon,

We have an LLC. I have been dealing with real estate for 10 years and just trying to only focus on the notes business. It just seems that over the last 6 months these providers are really hiking up their expected bid price. I guess a goal is just finding more providers, but it is harder than anticipated. Do you have any tips?

Through tape providers in an Excel spreadsheet. I normally just submit a bid through an email and wait to see if we won. I just know there are so many factors and there really isn't one right way. I just feel that many of these tape providers or even places online, like FCI, want a way high of a bid. It seems because this business is growing so fast, many people are way overbidding on product. 

Hey, @Daria B. , I do look at both and the person that is trying to sell the notes are just non-performing 1st. Also, I realize that there are so many factors and it is hard to base the bid just off the UPB or the BPO. I think my main problem is that most of my bids are pretty low from what the sellers are asking for. But figure there is always room to renegotiate. One issue is that if the deal looks pretty good, I may just want to increase my bid percent. Lately, I have been bidding 35% of the UPB on a non-performing note and seem to loose them the first round because others outbid me. I just know in this business you have to get used to losing most bids and keep on pushing until one is won.

So I have been in the note business for a year now and having trouble purchasing notes. I am throwing many bids out there, but many are getting rejected because many of these providers seem to want too much. After talking with one provider, they said I should base my bid off of the BPO provided around 50-60% of the home value. So far I am basing my bids based on UPB because I want to work with the current borrower. I understand if I was a fix and flipper to base off of the value of the actual home, but there are so many factors that come into play that I think basing a bid off of the UPB would be the best. Any suggestions or guidance is appreciated.

Thank you

We purchased a note on a vacant home but still owned by the borrower. Because of the long foreclosure and price, we are trying to reach out to the borrower. We do have some contact information, but not getting anywhere. So we are thinking of using a Door Knocking service to give them a letter directly and hope to make something work for every party involved in this. Does anyone know of a company that does door knocking in the Cleveland Ohio area? 

Thanks for the contacts

I am looking at purchasing a note in Indiana, but the borrower has not paid since 2012. If I purchase/own the note, can I still go after the borrower for the money and work out some type of deal? Or has it been too long and the borrower gets out of paying the money owed for the mortgage? Thank you and hope to get some information.  

Thank you all and will check these books and responses out. 

Hello all,

So my business partner and I are getting involved in note buying and wanted to contact hedge funds to get non-performing notes directly from them. Has anyone had success in this and would recommend how and who to contact with certain hedge funds? 

Thank you and hope to get some responses