Hey everyone,

I’ve been exploring more deals in the performing note space lately—specifically 1st position residential notes (1–4 units) that have been seasoned for at least a year. I'm noticing some interesting shifts in pricing, seller expectations, and even how people are structuring deals.

Curious to hear from others:

• What trends are you seeing in note pricing and demand lately?

• Are you noticing more sellers exiting notes early?

• How do you typically underwrite risk when evaluating seasoned notes?

• Any red flags you’ve learned to spot quicker now compared to when you first started?

Would love to exchange insights with other note investors—whether you’re buying, selling, or brokering. Let’s help each other level up in this space.

Looking forward to your thoughts!