2nd NPN (Non Performing Note) Successes
I would love to hear from other investors that have purchased 2nd non performing notes. What percentage of these notes end up with a loan modification? This seems to be the best strategy out the gate. There are several other strategies as mentioned on this blog post:
https://www.biggerpockets.com/blogs/5359/39294-not...
One of the most recent podcast episodes mentioned by the guest that he purchased a 2nd NPN for .10 on the dollar for $4000 (40k debt) and then modified the loan. He got $4k down and $300/mo.
How often is this possible?