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Updated over 6 years ago on . Most recent reply

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28
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Samone Johnson
  • Real Estate Agent
  • Sacramento, CA
13
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28
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Any One Use FCI Exchange?

Samone Johnson
  • Real Estate Agent
  • Sacramento, CA
Posted

Has anyone used the FCI Exchange site to buy performing or non-performing notes? I want to get feedback before purchasing. Also, are there any other sites that are similar? 

Most Popular Reply

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19,053
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16,634
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Chris Seveney
  • Investor
  • Virginia
16,634
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19,053
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

Dan Deppen
I wouldn’t even bother listing a note on FCI because there are a lot of people who scour FCI and will never pull the trigger.

I want someone who I know will be serious to buy. Case and point I replied to a post where an investor wanted to buy for his fund. He wanted performing notes. I sent him a tape with the collateral and every week I got another excuse. How long does it take to review 5 assets when you have the pay history, servicing notes, BPO and OE?

I should of known better but the Guy was most likely just trying to build a mailing list.

If I send notes to someone now I ask them how many notes they have bought and what their timing is. 90% of people out there are not real buyers - window shoppers or will throw low ball offers out there. Of course this is after they sign the NDA

  • Chris Seveney
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7e investments
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