Biggest lesson in notes: the paper is only as good as the collateral and the borrower’s behavior, so buy docs and pay history, not marketing. Before you wire, verify the full collateral file, chain of title, enforceability, current value, and a clear Plan A/Plan B, then start with a small test buy to prove your workout and servicing process.
@Brandon Lee I would disagree that we see more involved in note investing recently as we have consistently see people come in and out of the space over the last 15 years. I would say we see a large increase of Note Brokers (joker brokers) coming in. I believe that is due to "guru's" teaching that it is easy. We did a show episode on this topic about a month go.