Real Estate Note Investing By: Dave Van Horn

12 Replies

I read this book but I would have to say I still don't know how to buy a note. Did I miss something? The author told his story but didn't tell me where I can go to buy a note. 

Is there an online marketplace for them? Do I need broker? Or do I need to make a connection with someone who already buys notes to get started?

What were other peoples opinion of this book?

@Rich Hupper

The author, Dave Van Horn, runs PPR Note Co. You can buy notes there. 

I thought it was a great book. Took awhile to get into the "meat" of note investing but for a guy like me who really didn't know anything about it it was definitely a worthwhile read. 

Note investing appears to beat the heck out of plunging toilets and receiving calls from people you don't want to talk to at 2am...

Hi @Rich Hupper

Thanks for reading.

In Chapter 13 "How to Find Notes" I talk about how there's really no one size fits all answer to this question and how it's a lot like Real Estate. Meaning...."what's the website where someone can purchase an investment property that fits their investing needs?" See how that can be a tough answer? Sure there are turnkey companies and retail websites but we all know the best deals tend to come from digging. This is why I highlight how when it comes to finding notes it's all about building relationships with different types of note sellers.

From the bottom of page 157 to page 160 I try to detail how that for those looking for institutional notes, rather than searching for banks that will sell individual notes to a retail buyer (which is possible but not likely), potential note investors will have better luck searching for notes through note brokers, loan exchanges, servicers, note funds and other individual note investors.

I could have mentioned a few names of these types of note sellers but I didn't want to run the risk of putting a known note seller or loan exchange in print, only to have that change in a year or so. Had to keep it general for posterity and to avoid any bias.

Anyway, feel free to Private Message me if you have any more specific questions. I'm not sure if you bought the book through BP or amazon but have you checked out the bonus materials yet? I do a step-by-step webinar with Brandon Turner on how to buy a note/perform due diligence on NPN & Performing notes and we run through some notes for sale on FCI Exchange (one of the most popular exchanges at the moment) that you might also find beneficial. We had to do that specifically on a webinar since it's probably too nuanced to even put on paper IMO.

@Dave Van Horn

Thanks for reading my post. I did like your book and now I know that your company can be a potential resource. I will look more into that. I bought the book through BP.  

Great answer by @Dave Van Horn . @Rich Hupper "where can I buy notes" is easily one of the top 3 questions asked by people who have just heard about notes. I would even go more general than Dave and say it's like "where do I buy houses". There are many people who buy from exchanges like PPR's that are fairly easy to look into, but outside of that people purchase from a variety of sources such as banks and hedge funds. However, knowing that alone only takes you so far, I don't know of anyone who would say give you a person or a number to call for someone they use for free. As you dig into the industry you'll discover that it's sort of the one question of them all that you'll never get a specific answer to. 

@J.M. M. You should receive an email with a download link upon purchase.

If you haven't received that email, I would contact support at biggerpockets.com

Wow, your book is amazing Dave, I read half of it in one seating, and looking to sit again to read the rest!  

One question, you mentioned on a recent webibar that you had recorded a video on How to buy notes, where you go with Bob to FCI exchange's website and analyze some notes. Would you be so kind to provide the link to that video?  I haven't been able to find it. 

Thanks! 

Mauricio 

Hi @Mauricio Delaorta

Thanks for the kind words!

That video is only available as a digital bonus if you purchased a (digital or paperback) copy of the book through the BiggerPockets store here:

https://get.biggerpockets.com/noteinvesting/

If you purchased through the BP store and still can't  find it, I would suggest emailing support @ biggerpockets.com

  I had purchased the book on Amazon but just went ahead and purchased again on BP so I could watch the video too.

Thanks Dave,

Mauricio 

Originally posted by @Dave Van Horn :

Hi @Mauricio Delaorta

Thanks for the kind words!

That video is only available as a digital bonus if you purchased a (digital or paperback) copy of the book through the BiggerPockets store here:

https://get.biggerpockets.com/noteinvesting/

If you purchased through the BP store and still can't  find it, I would suggest emailing support @ biggerpockets.com

Wow, thanks Mauricio! If you're ever in the Philadelphia area (or next time I'm in San Antonio), I'll be sure to sign your copy ;)