2019 Note Goals For Buying

Tax Liens & Mortgage Notes
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2019 Note Goals For Buying

Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

What's your goal for acquisition in 2019 - whether it's based on quantity, dollar value (price paid) or UPB / FMV?

I am targeting 72 note deals for 2019 (6 per month).

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
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@Chris Seveney  thanks Chris the reason I ask. is this:

I often wonder what the allure to wholesaling is for all these beginners on BP.. when in fact me being in and around this business for 4 decades I know you could not pick something more difficult to do than wholesaling.. 

and some get on here and have significant budgets to throw at it. 5 to 10k a month and they are just starting out so My thought was instead of wasting that kind of marketing money.. they could be buying a note a month.. and you validated that by saying notes are 5k and up to 20k.. at least they get something that they can actually do something with ..and the seller is motivated to sell.. not trying to talk a burnt out landlord or older folks into giving away their home then trying to talk a sharp investor to paying more than its worth :)… 

plus most of these wanna be break into the business wholesalers at the end of the day just want cash flow at least that's what they say.. so why not do what your doing.. find the notes.. buy them work them out.. cant be any harder than talking some seller into taking a low ball offer.. then get the cash flow which is what they are after at the end of the day ?

So I know its a little off topic but that just dawned on me.. spend money on marketing that is super saturated and basically does not work.. or just buy a note and work it out.. ????

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  • Robert S.
    Contractor · Milltown, NJ · Member since 2016 · 297 posts · 213 votes
    7y

    @Chris Seveney

    Thank you... Happy New Year!!!

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  • Bill McCafferty
    Real Estate Investor · Coatesville, PA 19320 · Member since 2011 · 108 posts · 178 votes
    7y

    These are my overall 2019 Goals, both Business & Personal:

    1. Make $1k a day / $365k for the year.

    2. Buy 1 to 2 Non Performing or Performing 2nd Mortgage Notes per month. 18 for the year.

    3. Create another stream of income outside of what I do know. Not another Asset, but another business or service. 

    4. Continue to improve my relationships with my family, friends and clients. Be the best I can be for them.

    5. See 15 live music concerts (at least 10 Phish Shows).

    6. Attend at least 4 Real Estate / Education Conferences / Events for the year.

    7. For my Asset Management Company, take on at least 50 Non Performing 2nd Mortgage Notes from Clients to manage.

    2Reply
  • Mark Sewell
    Investor · Houston, TX · Member since 2017 · 1k+ posts · 871 votes
    7y
    Originally posted by @Jay Hinrichs:

    @Chris Seveney  thanks Chris the reason I ask. is this:

    I often wonder what the allure to wholesaling is for all these beginners on BP.. when in fact me being in and around this business for 4 decades I know you could not pick something more difficult to do than wholesaling.. 

    and some get on here and have significant budgets to throw at it. 5 to 10k a month and they are just starting out so My thought was instead of wasting that kind of marketing money.. they could be buying a note a month.. and you validated that by saying notes are 5k and up to 20k.. at least they get something that they can actually do something with ..and the seller is motivated to sell.. not trying to talk a burnt out landlord or older folks into giving away their home then trying to talk a sharp investor to paying more than its worth :)… 

    plus most of these wanna be break into the business wholesalers at the end of the day just want cash flow at least that's what they say.. so why not do what your doing.. find the notes.. buy them work them out.. cant be any harder than talking some seller into taking a low ball offer.. then get the cash flow which is what they are after at the end of the day ?

    So I know its a little off topic but that just dawned on me.. spend money on marketing that is super saturated and basically does not work.. or just buy a note and work it out.. ????

    Jay, this if freaking brilliant, sir.  

    That said, I am sure buying a NPN or even one that is performing is not that simple or easy to find either. But for those that understand a little bit about how financing works, and enjoy crunching numbers, this would seem like it would be so much more fun and lucrative.... just as you suggest.

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