NotesDirect.Com - Has anyone used this platform?

Question

Curious if anyone has purchased any notes through this platform and if so was it a good experience?

Chris Seveney · Answer

@Bob Berland

Two aspects of buying a note:

1. Is it a legitimate seller? As noted below it is part of colonial who is well known in the space and many have bought from them I. The oas

2. Asset itself - always do your own due diligence and get your eyes on the property and review the collateral and pay history.

Jamie Bateman · Answer

@Bob Berland I have spent some time on their platform but have not purchased anything. Like @Marco Bario said, it is run by a professional team. The main reasons I prefer exchanges like Papertsac.com (@Brett Burky) is that you can negotiate with the seller (pretty sure NotesDirect does not allow negotiating), the technology is advanced, and they really incorporate user feedback. Also, I believe NotesDirect has mostly owner-financed deals for sale, whereas other platforms offer a broader range of assets.

Marco Bario · Answer

Hi @Bob Berland -

I purchased one asset through NotesDirect about a year ago. It's run by an experienced team that I've had other exposure to beyond the notes platform. I like that you're given access to pay history, title report, BPO and collateral files before you click the "buy" button.

If you find deals that check out after performing due diligence, and numbers work for you, the purchasing experience should be a positive one.

Bob Malecki · Answer

NotesDirect is run by Colonial Capital (Note School folks) and most of the performing assets are priced at a ~12% annualized PV. They do not have an tools to facilitate negotiating a price so it's "buy it as priced or don't".

From what I"ve seen of the assets offered by Colonial they have complete files and clean chains of assignment. We've acquired distressed debt from Colonial before but not thru NotesDirect.

Russell Brazil · Answer

Id ask @Chris Seveney, hes one of the expert note guys here.

Srinivas C. · Answer

I purchased close to 8 performing notes, i still hold most of them, i had to foreclose one, but over all i had good experience and returns.  Its run by eddie speed and team.

As they have tiered access and pricing, if you are a noteschool member you get first access to those notes before they are available for public.

Bob Berland · Answer

@Jamie Bateman Thank you for your thoughts on this I will check and see if negotiations are part of their platform

Kevin Crowell · Answer

Hi Christine -

That's weird. I was just on it and it worked fine. Their staff is good about getting back to people. Don't be discouraged. Good luck.

Christine Doiron · Answer

I just learned about Notes Direct and have been attempting to sign up via their simple form. When I hit submit it doesn’t take me to step 2. It takes me to an error page. Has anyone used this site recently? I sent an email to their support address and am awaiting a response.

David Putz · Answer

@Bob Berland We have also purchased from them as well as many others.  We found the best way to purchase notes is buying from other investors.  Often times they reason why they are selling is a perfect relationship with someone selling.  We sell most of our loans direct to buyers.

NotesDirect.Com - Has anyone used this platform?

Most Popular Reply