Appraisers hired by bank are trained to be ultra conservative to protect the banks interest.

Perhaps I didn't mention it in the diatribe above but while protection of your current holdings is majorly important, it isn't everything, unless you play the ultra-conservative playstyle.

However for the ultra conservative investor concerned primarily with the security of owning properties outright actual income is secondary to percieved income.

Grant could sell raid Raid to a **** roach and make him feel good about the purchase .You can join my "ultra-special, premium deluxe, limited edition, diamond jubilee" club with only 200k spending.

If you are a ultra conservative very low risk tolerant investor you could pay down a income property mortgage but that is obviously going to reduce your return on your investment to a ceiling of the prevailing mortgage rates.

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@Edmund Yeh you should have a licensed agent who is ultra familiar with this realm of the industry.

And if the deal is better than that standard/hurdle, the sponsors use ultra conservative assumptions to get back to standard and under-promise and over-deliver.My last three investments were in Bradenton FL (self-storage), Arlington TX (multifamily), and all over the country (MHP & SS fund).FYI...A going in 6 cap for an A or B class with a strong value add in a good location is a great deal.Hope that helps.

He is essentially putting funds with us that would otherwise be in ultra safe investments like CDs or Muni-bonds.The first one in 2014 I offered to pay 6% and he said 'he could only take 6%' (4 times CDs at the time).

They then take those notes and package them with others from similar purchases and sell them along with their analysis to private investment funds.This leaves 45 notes from a package of 1,000 that three professional investment funds, doing intensive analysis by highly trained MBAs, have determined cannot yield even a minimal investment return.These are then offered to the individual investor, who according to those in the industry “with something to sell” (the leftover NPNs and/or “training”) can profit enormously by (1) making them re-performing notes or (2) foreclosing and selling the property for large profits.The pitch from those “with something to sell” is twofold: (1) “There is plenty of meat left on the bone” (actual quote), and (2) if you send the borrower a complete package of all docs, weighing, say, five pounds you will “shock and awe” him into paying on the note.I highly doubt either of these claims have even a micron of validity.The parties with a financial interest in you buying into this will cite isolated instances of great success, never mentioning the all-more-frequent instances of total failure.So at the end of the day the training promoters have collected up to $30,000 per person for their NPN “mentoring”/”coaching” program, the retail asset disposer has made 50% to 100% profit on their inventory, private middlemen have turned a $2,500 investment in a note into $16,000, and my sister-in-law who purchased 5 NPNs over three years ago and has spent large amounts on attorneys, taxes, and brokers has yet to see a penny in return.To paraphrase, if you don’t know who the sucker is in any ultra-high profit promise situation, it’s you.