BiggerPockets


Non Performing Notes for sale

Posted on Friday, August 31

Well its that time again to dive into NPN's ( non performing notes ).


As a REO Realtor, I run across Asset Managers, Hedge Funds, Banks, and Private Sellers who have Nationwide Non Performing Notes for sale.


I don't mess around with Chains and People who think they have access to something.  I only market what My Contacts from the REO industry are giving me.


Typically each month I have access to 200-500 1st Lien, Non Performing Notes that are Conventional Mortgages.


What can you Expect with my NPN's  - Non Performing Notes ?

- 1st Lien

- Residential Discounted

- Fresh BPOs

- Utilities Verified

- Taxes Verified

- Fresh Title Reports

- 10 to 50% below BPO Value


As with anything, there is a Confidentiality agreement, and a fee agreement between the buyer and myself.  


I will initially provide the investor the following:

- Reference # for the Loan

- Type of Loan (typically Conventional)

- City & State

- BPO Value

- Maturity Date


Once you have located the Non Performing Notes that you may have interest in, You will begin the Vetting Phase.

 

Because of the sensitive borrower information revealed, all buyers are vetted for criminal background check.  The turn around time is typically less than 24 hours.


Once that is complete, you will have access to view all info on the NPNs.


You will then Submit your Bid.


If you have any questions, please feel free to ask.  I have closed many NPNs for Investors.  These can be cherry picked, or purchased in larger packages.  Typically I see BPO Values ranging from $9,000 to over $750,000.


We can chat further about exit strategies and I can provide you with a great excel spreadsheet that will generate all exit strategies to show you which will provide the greatest return on the non performing notes.




Comments (15)

  1. No_avatar_tiny

    Hazel, I work with a lot of Canadian Note Investors. The simple trick is this: When doing your homework on notes, you work with a professional in the area (usually offer a small fee (typically $50-75) to do a check on the property, offer their opinion of true market value, and do a drive by evaluation with pictures. We do this through local real estate agents, with the idea that if you purchase the note, they will get the business when it comes time to sell or rent that property. We do assist all our note buyers in determining the best exit strategy, and successful completion of the strategy. I buy notes myself, so I understand the process very well, rather than typical companies that have no experience in actually owning a Note. Feel free to contact me with any other questions.


  2. No_avatar_tiny

    Tim - I am interested in NPNs in MD, VA and DC if available. Please send the vetting documents to me at [email protected]


    1. No_avatar_tiny

      Just sent you an email. Thanks.


  3. Tiny_1399717244-avatar-rjizack

    Hi Tim, I'm intereted in conversing with you in regards to your notes. Please email me at [email protected]


  4. No_avatar_tiny

    I Have about 1000 doors for sale in Atlanta , ga and in Florida (Jax and Pensacola) if you are interested to Buy NPN please Get ready to get Vented with LOI and POF and some Great looking Bio of you and Your company. Thank you


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