Looking to Buy Performing 1st Position Residential Notes

[Donna M Tuite]

Hi everyone — I’m actively looking to purchase performing 1st position mortgage notes and wanted to share our current buy box in case anyone has paper they’re considering selling.

What we’re looking for:

• Secured by 1–4 unit residential properties

• Non-rural, under ½ acre

• 5 bedrooms / 3 baths or less

• 2,800 sq ft or less

• ARV below FHA loan limits

• 1st lien position only

• LTV at or below 70%

• Targeting 15%+ yields (can be achieved through discounting)

• Non-owner occupied preferred, but not required if yield supports

• Shorter remaining terms (under 5 years preferred), flexible for higher yield

If you’re holding notes that fit — or are thinking about liquidating part of a portfolio — feel free to comment here or send me a message with a brief overview.