My name is Gene and I'm brand new to REI and have yet to make my first deal.

These guys/gals have researched the investments that they recommend so you would have to get their attention and provide a very thorough education program with a lot of performance history.

I have seen too many rehabbers spend time and money to put it on the rental market and spend quite a bit of money in the first year of performance for unforeseen issues with the home.

Last year I diversified some of the funds out of real estate now that it has become overvalued.I found BP through a Google search of an under performing company I got involved with called Asset Ventures who does their best to modify delinquent second mortgages.  

For example, if a house is 100 years old, but with brand new kitchens and baths, then spending more money in the kitchens and baths isn't going to be the best use of your funds.

Team,I usually invest in firsts but lately I have been seeing some non-performing seconds where the firsts and performing and the second has enough equity for a full payoff.  

I beg to differ, I believe the debate is, which people can actually perform each job effectively and morally.

If you believe in your mentor, she may have reasons for suggesting this, like the experience of having a seller say one thing on the phone, but being able to come to a different understanding in person, either right away or over time.If you're brand new, one of the best uses of your time is "wasting" some of it.

Can someone give me the URL for that exchange where you can trade performing mortgages?

When it comes to closing a real estate transaction in the state of Illinois you will need to use a title company and the title company will perform all the title searches and provide title insurance for the transaction.