Mortgage notes

[Anja Brey]

Hi BP, 
I am looking for company recommendations to invest into mortgage notes. I am not an accredited investor. Ideally, I am looking for shorter commitments, from maybe 6 months to maximum 2 years for the loan. 
Does anyone know a good place to buy mortgage notes from? 
Any feedback on "Secured Investment Corp"?

Thanks, 

Anja

[Bob Malecki]

Originally posted by @Joseph Ball:

Try Eddie Speed, Texas

 Colonial Funding is a private equity fund, fyi. As far as I know, Eddie's group does not sell notes to "outside" buyers, only to their students. Cost of entry starts at $15K for their education courses. 

RSI is a good company but deals mainly in Florida NPLs which have a fairly long foreclosure timeline.

I have had good success with Granite Loans as they have notes in many different states and will sell singles to individual investors. They also have one of the best structured systems for previewing the collateral files. I'm not affiliated with Granite, just happy with my transactions with them.

Understand that the above are non performing loans (NPL) that you will have to rework to performance. If you don't know what that means, then you have a steep learning curve. You can also buy performing notes that a company like mine have worked out with the borrower and place back on the secondary market for sale. I would recommend you check out FCI Exchange to get a flavor for the pricing and locations of performing notes if this better suites your level of comfort/risk. 

http://www.fciexchange.com/

If you are just looking to loan money on RE projects, then probably one of the crowdfunding platforms like Fundrise or Realty Mogul may be a better choice.

Have fun!

Bob Malecki