Lots of info at BP and check out videos on Youtube.
3 keys things:
*Know what the property will sell for at auction and make your purchase based on that value.
*Find a foreclosure firm who will do all the paperwork and know what they will charge you so you can add that to your purchase calculation.
*Know what you will do with the property if you have to buy it in at the sale.
Once you have those 3 things on place you can quickly determine if the note will work for you.
Of course you have to have the sources to search for notes too.
You can do it.
@Joe Nagle I agree with @Chris Seveney. Scott Carson’s training is great. I have completed his note Blueprint class which is a self paced training with videos. I was a participant in Note C.A.M.P. 4.0 Oct 2018. I was a participant in his three day virutual note buying workshop in Dec 2017. They all work together to maximize the understanding level.
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It sounds like you already have expertise in the rental game, so why are you looking to go into a different field you know very little about? Looking to diversify or struggling to add to your portfolio?
What you could do is start originating your own notes - by seller financing some of the rentals you don't want anymore.
Thanks for all the responses. I will have to check out Scott Carson’s virtual programs. For Patrick. I wanted to get into notes because it’s not as “physical hands on” as a day to day rental. As of now I do hold the mortgage for a few of my old tenants but, but believe it or not I still get service calls and questions.
For more info on notes (including book recommendations), check out the following threads:
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