Anybody invested in a performing non owner occupied note?

[Atanas Krastev]

Hi Bigger Pockets ! I have a question about a note I am considering buying:

So it is a performing note for about $55000 located in Dallas, TX with a 10% interest and 45% LTV. No liens whatsoever. The only issue is that the buyer/owner doesn't live in the property and it is a LLC with multiple properties. Is it worth the risk?
Please help! 

[Chad U.]

Originally posted by @Atanas Krastev:

Hi Bigger Pockets ! I have a question about a note I am considering buying:

So it is a performing note for about $55000 located in Dallas, TX with a 10% interest and 45% LTV. No liens whatsoever. The only issue is that the buyer/owner doesn't live in the property and it is a LLC with multiple properties. Is it worth the risk?
Please help! 

Check if there's a personal guarantee on the note by the LLC owner, which will give you additional recourse to pursue in the event of default. Otherwise sounds like you are adequately protected if you need to foreclose.

Also make sure its currently being serviced and look for a consistent pay history.