Advice sought on getting started in buying Non performing notes

4 Replies

Hi everyone,

Having been investing in real estate property for 8 years ( flips, rentals etc ) both here in the USA and in London I am now looking to get into the business of buying and selling notes. 

I was advised to start with non performing notes first before progressing to performing notes. 

The property inventory is drying up at present in the USA, especially in Florida where I live,  and so the note business seems like the next logical step for me to invest in.

Any opinions or advice on starting out in the note business would be gratefully received and any educational resources / contacts also very much appreciated.

In anticipation of your kind responses.

Thank you.

Cathy 

Your question is a bit too vague. My advice is break note investing down into steps (ie sourcing notes, due diligence, vendors, servicing, collections, exit strategies) and then research the info you're missing.

You're in luck, there is a ton of note inventory in FL still.

We have done about a dozen NPN's over the last year. We are not seeing deals that make sense at current pricing. Mostly working the existing portfolio.