All Forum Posts by: Scott Carson

With there only being 4 payments being made, it's not that desirable.  Did they put a $5K downpayment?  If they did put some money down, that helps.  But if they didn't, it makes it less desirable.  I would need to know the address, but I'm not going to be interested in paying a performing note until I see 12 months of on time payments.

yes...we've been buying CFD's from them for years. They are out of Dallas.

@Matthew Novelli  Austin is a very competitive and over priced market....I'd be looking at other markets in TX or note investing...

Meetups and any Self Directed IRA custodian event is usually a great place to find cash buyers. You could also check county records for anyone owning property inside of their SD IRA and do direct mailer out to them to set up a meeting.

@Marc Mitchell What I'm seeing on the NPN side has increased some but there are good deals to be had as there is still plenty of NPN's out there. You just have to develop new sources. We've been buying CFD's along with reaching out to more banks for direct deals. Most of the "traditional sources" have been flooded with buyers who are overpaying for assets.

Bank of America...

Cherie....It all depends on who the bank is.  If it's BOA, Chase, Citi, Wells, or any of the big 5-10 banks, it's not worth trying.   Now if it's a smaller or regional bank, you might have some luck as we've bought notes from smaller to mid-size institutions for years.  

To legally transfer the title though, you'd still have to foreclose out the property as the borrower is not around to deed it over.  Missouri is a fast foreclosure state so depending on where it is located  (if it's outside of MO) will also have some bearing on value and potential price that the banks will look for.

So pull your big girl panties up and start using the 21st technologies....You know...Google.  The Internet!  Resources such as Meetup.com, WeGoLook.com, Realtor.com, ActiveRain.com and not to mention Bigger Pockets are great resources to help you with Due Diligence outside of your cold *** backyard.

You aren't going to see any NPN's in Alaska....I've seen 1 in 10 years. So you can sit around waiting for Alaska notes or go do something else.

Get cracking!

We'll actually be doing a live webinar tonight breaking down 11 notes with the note seller and servicer...PM for the link.

I'm a huge fan of Quest IRA....Their customer service is 2nd to none! Give Rebecca, Ingrid, Anne Marie, Beatriz or Katy a call! You won't be disappointed!