Note investing - Non-Performing 1sts, Performing 1sts & Partials

[Suzanne P.]

So I just returned from a 3-day note investing seminar and my head is still swirling. The concepts that intrigued me the most were non-performing first-mortgages, some of which can be modified using Hardest Hit Funds, and the second concept is selling partial notes on performing first mortgages to recoup the capital investment and get passive income from the back-end of the notes. 

From reading various posts on Bigger Pockets and from the seminar I realize that note investing is a complicated field and not for the faint of heart. At this stage I do not have 20 to 40k for an advanced mentorship / membership program, and as I am busy with my flips and a full-time business I don't even have the time to jump into note investing full speed.

I'd like to get started slowly, with a few smaller notes (preferably under 20k), to get my feet wet. Are there any experienced note investors out there that can hold my hand, either for a fee, or possibly in a joint venture of some sort? I'd like to learn along the way, so it would be great if the investor could be a bit of a mentor rather than expecting me to be a purely passive investor.

To educate myself further, I have also been searching for affordable home-study courses that will help me understand non-performing 1sts and performing 1sts + selling partials better. I have seen a few programs out there that specialize in 2nd non-performing notes. Is there anything out there that specializes in 1st NPNs/PNs/partials?

Thank you in advance for any input or suggestions.

[Bob Malecki]

HI @Suzanne P. interesting timing on your post. I just launched a "earn as you learn" JV program for first position notes and am happy to give you the details. I am also quite knowledgeable on partials and will be including this in my presentation at the Papersource Symposium in Las Vegas this April.

Feel free contact me via PM. Also, I did a podast #211 with Josh and Brandon about notes back in January, you may want to listen to that as well. 

Bob Malecki