So, here are the “main steps” to getting going in NPNs as it relates to my strategy as I see it:1.Find prospective NPNs for purchasing [obtaining from inventory of a company like Granite]2.Perform due diligence on the NPNs [understanding the defect and why note is now nonperforming]3.Analyze the NPNs that survive diligence [crunching numbers re upb, cost of servicing, etc. to see what max price I can pay while still having a reasonable chance of obtaining my desired yield]4.Negotiate and purchase the NPN [finding the “highest price I will pay for it”]5.Park the NPN at a servicer6.Instruct the servicer to contact the owner and begin rehabbing the NPN7.If the owner is amenable and an agreement can be reached, monitor the note until it is seasoned and then begin marketing the rehabbed note8.If the owner is not amenable or an agreement cannot be reached, foreclose on the collateral9.Regardless of which avenue was taken (either selling the rehabbed note or foreclosing), go back to step 1So here are my questions:1.How do I ensure that my steps 2 and 3 are thorough?

Serge that is great this deal you were telling me about awhile back is coming to close.I might monitor ownership for a few months and implement the plan over time.What do the new tenants units look like compared to the loyalty tenants that have been there for a long time??

Then- if your really tricky you can use the GPS in your tablet or bluetooth your garmin into your computer- and you have a live map showing you where to drive too... or mark the maps and mail the owners, or print the maps and drive to the parks... anyway- that concludes Jim's Google earth Tips for the day... happy hunting!!

I used to focus solely on architecture (designing homes and other buildings) and construction management (managing and monitoring the implementation of what's designed).

Then keep in mind that you will have to have a way to keep them from breaking back in and stealing what you've put in or they will wait a few weeks and pull the copper and everything else right back out.So, if it's a not so good part of town, budget monitored alarm systems or something else to keep them out, because they'll be watching.

It's important to understand your area and monitor the economic, migration, housing affordability index (HAI), housing inventory, job creation, trends of tiers of the market, etc., and invest based on the data.In 1996 Robert Shiller said the stock market was irrational.

If at least the domestic hot water run to each unit is separate, you will be able to place the cost with each individual tenant.The current system is Monitor heating units fed by K-1 fuel. 

You may have to plug off the line from either the water meter or well supply.On the other hand, if the compressor runs and runs and never builds pressure (we make our adapter with a tee fitting and pressure guage on the side of the tee so we can monitor the line pressure), then you either have an open valve or plumbing damage.  

I make a post to a thread and I always forget to click the monitoring box so I quickly click it which leads to a double post.

One of the many reasons people don’t create blogs and forums is because of the massive undertaking it takes to monitor.