Mortgage Notes sales

[Brandon Skinner]

I'm looking to connect with people in the note buying business. I'm not new to real estate, but I am new to note buying. I'd like to start buying. 

[Chris Seveney]

Quote from @Brandon Skinner:

Quote from @Chris Seveney:

@Brandon Skinner

I have been buying notes for several years now and happy to connect.

 Thanks for reaching out Chris. It is actually harder to find one of these notes than they make it sound on YouTube. Lol. My trusted banks are basically laughing at me. I'm a little concerned about buying out of state as well. I live in Iowa and I'm seeing nothing on the web for my state. 

The problem I'm having is my low cash balance for the moment. I've put 90% of my money in other investments. I have about 65k as of today. I don't feel as if $500 a month in interest is worth my time on one of these notes. Im in a Vangaurd Money Market thats paying me $286 in interest risk free. Thoughts? Due to a life changing situation I need to pull in around 3k more a month in passive income. So im scrambling to find more cash flow anywhere I can. 

Thanks for your time.

 anyone who is teaching people to call banks to get loans has no clue what they are doing, there was one guru who had one student get loans from a bank and then sold it into 5 programs only to make themselves money. I have done 750+ deals and never have bought directly from a bank. 

The challenges you will run into is there is very little delinquent debt in iowa. Unlike traditional real estate notes is something that is easy to do from afar since you do not get access to the interior anyways so there is nothing you can physically inspect.

You are correct that you will get $500-$600 a month in payments but also recognize its taxed at ordinary rates... 

There are other funds etc. you can invest in that are also passive, that provide better returns than vanguard but again, they have risk involved and is a few hundred extra bucks a month worth the risk? Only you can answer that