Real Estate Note Investing - Specifically non performing notes

[Gabriel Cardus]

Hey all, this is my first time posting and first time really looking around to invest. I really like the idea of second mortgage non performing note investments. I don’t seem to have any luck finding a company that offers a full service outfit (buy the note and using their lawyers or resources to start the foreclosure proceedings, negotiations, etc.).

My intent is really similar to what Dave Van Horn thinks, buy something for a fraction of what is owed on it and get these non performing notes performing again and sell making a small profit on each. Eventually repeat this process where I can get a passive income from while doing something I can be proud of and get some satisfaction from in helping people get back on their feet.

Are you aware of any company that offers these opportunities?

Thank you,

[Logan Hassinger]

@Gabriel Cardus

I focus on 1st position Nonperforming and there are a number of differences between 1st and 2nds that I don’t have the expertise to speak to. 

Martin Saenz will be a great resource for you here. 

As for your question on companies that are full service in the Note industry, unfortunately I’m not aware of any. 

There are note exchanges out there but that's like paying retail prices for for RE on the MLS.

Deal flow in this industry is about making connections with people and firms who own/broker notes as well as marketing on a constant basis. 

Depending on your strategy, passive vs active, will dictate the types of notes you go after. Nonperforming Note Investing in either 1st’s or 2nd’s is business in my opinion. 

Don’t read Dave’s book and think it’s simply some mailbox money with little time invested.