Note purchasing

[Joe Martella]

Hello, I have been considering note investing for quite some time. I want to try to get at least one note under my belt so I can say I can determine if It is something I want to jump in fully. I found a couple of places where notes are listed for sale (LoanMLS is one of them), but I am not too sure how to account for expenses. I know I will need a loan servicing company, but other than calling people and collecting the money I don't know what they do exactly. I would want to purchase non-performing notes at a discount and hopefully make them performing or acquire the property.

[Ken Martinez]

Joe, before buying non-performing notes, I would educate yourself as much as possible first by reading as much as you can here on BP, attending either or both of the major Note conferences in Las Vegas (Noteworthy and Paper Source), attending Meet-Ups and RE clubs specific to Notes where you live.  Invest in Debt by Napier is a great book, and Performance Anxiety by Gordon Moss is another great book on 2nd liens.  Hope that helps.