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Tax Liens & Mortgage Notes

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Ricardo Fainsilber
  • Investor
  • Belvedere Tiburon, CA
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Has anyone had any experience with PPR note co.?

Ricardo Fainsilber
  • Investor
  • Belvedere Tiburon, CA
Posted Jun 26 2018, 13:04

I'm considering starting to invest in notes. I think the best and easiest way to get started is to use a servicing company. I just read Dave Van Horn's book and I'm obviously considering using his company, but was wondering if anyone has had any experience with PPR note. Also, if you have any other recommendations of a servicing company for a beginner note investor I would highly appreciate them.

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Steve H.
  • West Chester, PA
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Steve H.
  • West Chester, PA
Replied Jun 26 2018, 13:09

Hi Ricardo, I'm in the same boat as you. If you do a search on BP, you'll see that there are several prior posts about PPR and you can read up on those posters' experiences.

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Bob Malecki#4 Tax Liens & Mortgage Notes Contributor
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  • Kingston, WA
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Bob Malecki#4 Tax Liens & Mortgage Notes Contributor
  • Investor
  • Kingston, WA
Replied Jun 26 2018, 14:23

Hi @Ricardo Fainsilber and @Steve H. PPR is not a servicing company, they are a note investment firm. I understand that they do some of their own servicing but I do not think they provide for outside clients. I've been using FCI Lender Services for about 5 years and find them to be very investor friendly, especially for newer/smaller investors. 

Bob

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Caleb Heimsoth
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Caleb Heimsoth
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  • Durham, NC
Replied Jun 26 2018, 14:44

If you use the search function there are multiple threads on this company

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Ricardo Fainsilber
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  • Belvedere Tiburon, CA
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Ricardo Fainsilber
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  • Belvedere Tiburon, CA
Replied Jun 26 2018, 15:31

Thank you all.  @Bob Malecki I'll check FCI out, thanks for the tip.

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Chris Seveney
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Chris Seveney
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Replied Jun 26 2018, 15:42

Also I would contact them to see if there funds are only accredited investors or open funds to sophisticated investors

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Edward B.
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Edward B.
  • Investor
  • Midlothian, VA
Replied Jun 26 2018, 17:06
PPR is an industry leader and them and Dave Van Horn are the reason I invest in notes. I am invested in their fund and they pay their solid return religiously. I find their note offerings to be on the expensive side, so have not bought anything from them. Of course, they also offer an unparalleled warranty on the notes they sell, so that is probably worth a premium.

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Ricardo Fainsilber
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  • Belvedere Tiburon, CA
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Ricardo Fainsilber
  • Investor
  • Belvedere Tiburon, CA
Replied Jun 26 2018, 18:04

@Edward B. Thank you. Would you mind sharing what is the average return on their funds? I know they have a 10% preferred return, but what is the actual average return they pay?  Thanks again

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Caleb Heimsoth
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied Jun 26 2018, 19:00

Ricardo Fainsilber I have not invested with PPR as much as I would like to. That being said the return they pay is your return. You have no appreciation upside potential.

I believe they haven’t missed a payment since they started in 2007 or 2008. So that gives you an idea to track record

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Mark Pace
  • Saint Petersburg, FL
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Mark Pace
  • Saint Petersburg, FL
Replied Jun 26 2018, 19:51

I have invested in their funds for the past 4 years and they have never missed a payment. I highly recommend their funds.

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Caleb Heimsoth
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Caleb Heimsoth
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Replied Jun 26 2018, 19:56

Chris Seveney as far as I have seen and know it’s only accredited investors

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Richard Allen
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Richard Allen
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Replied Jun 26 2018, 21:48

PPR is definitely an investment fund. I believe it’s only accredited investors thy they are taking. I only know of two funds that invest in notes and that accept unaccredited investors. Check out FCI and Security National for servicing.

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Edward B.
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Edward B.
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Replied Jun 27 2018, 03:21
@Ricardo Fainsilber , the return they offer is your return. It was 12% when I got in and that is what they pay. Kind of hard to buy a reperforming 2nd with little equity for a realistic return if less than 12% when you can get 12% investing in a portfolio of such loans or better run by a company with a solid track record. You never get the pay off kicker, but so far you have been able to reliably bank that return. They got me into note investing and may have spoiled me to it as well.
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Andy Mirza
  • Lender
  • Ladera Ranch, CA
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Andy Mirza
  • Lender
  • Ladera Ranch, CA
Replied Jun 27 2018, 09:57

@Ricardo Fainsilber In my experience, servicers range from mediocre to terrible. I've heard this opinion echoed by a lot of other investors.

I would suggest FCI. We're probably going to try out Madison Management and have heard good things about them from several investors. Del Toro Servicing is another one to check out but they are not licensed in all states. I think they focus more on performing/hard money loans but are small investor friendly. I would stay away from Security National (SN Servicing Corp).

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Edward B.
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Edward B.
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Replied Jun 27 2018, 10:18
Buy and hold guys have property managers, flippers have contractors, and note investors have servicers. We all have our cross to bear.

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Andy Mirza
  • Lender
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Andy Mirza
  • Lender
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Replied Jun 27 2018, 10:27

@Edward B. "No one will care for your asset as much as you do." The people that work for those necessary vendors will do their jobs but that doesn't necessarily mean it will be the best thing for you or your asset. Make sure you are paying attention....

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Mike Cleveland
  • Sequim, WA
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Mike Cleveland
  • Sequim, WA
Replied Jun 30 2018, 02:40

The only experience I've had with PPR is that they have not responded to my numerous attempts to contact them from their website, so I couldn't tell you anything about them other than they are most likely way understaffed. 

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Dave Van Horn
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Dave Van Horn
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Replied Jul 2 2018, 08:38

Hi @Mike Cleveland,

Apologies for the delayed response. On our end it looks like we only received communication from you on Friday. I'm going to have Peter in our Investor Relations Department reach out to you this afternoon.

If you ever have any issues going forward, please feel free to reach out to me directly via PM. 

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Tom Dillon
  • Rental Property Investor
  • New Mexico
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Tom Dillon
  • Rental Property Investor
  • New Mexico
Replied Jul 2 2018, 11:20

I contacted PPR for the first time last week and they responded promptly. 

We set up a phone call with Peter and we had a professional and frank discussion about investing with PPR. He did a good job answering all our questions. He also followed up with some of the forms needed along with references.

So far they have been very professional in my experience.

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Ricardo Fainsilber
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  • Belvedere Tiburon, CA
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Ricardo Fainsilber
  • Investor
  • Belvedere Tiburon, CA
Replied Jul 2 2018, 14:25

@Tom Dillon That is good to hear. I contacted them and got an email form them referring me to a 3rd company that could help me get started on investing in notes and provides education, seemed odd... Why not just take me as a client directly?

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Tom Dillon
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Tom Dillon
  • Rental Property Investor
  • New Mexico
Replied Jul 2 2018, 15:15

@Ricardo Fainsilber I'm not sure. 

But I was inquiring about the note fund. I know to invest in the fund it is required that you are an accredited investor.

I know you can buy individual notes from them without being accredited, and they used to provide training to educate investors, but they stopped that program. So maybe they thought you where asking about individual note investing/training?

I know they have a warranty on notes purchased through them. I'm sure it is in everyone's best interest to be doing business with as much knowledge as possible.

Setup a phone call with them, I'm sure they will be more than happy to talk with you.

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Ricardo Fainsilber
  • Investor
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Ricardo Fainsilber
  • Investor
  • Belvedere Tiburon, CA
Replied Jul 2 2018, 15:28

@Tom Dillon Ok, thanks! 

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Mark Senecal
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Mark Senecal
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Replied Jul 2 2018, 17:17

I am invested in the PPR Note Fund.  Regular returns every month.  I like getting "mailbox money".

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Jim Peret
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Jim Peret
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Replied Mar 21 2024, 19:00
Quote from @Mark Senecal:

I am invested in the PPR Note Fund.  Regular returns every month.  I like getting "mailbox money".


 Still getting mailbox money?