All Forum Posts by: Jason Eyerly

Thank you for the information. Being in Nevada, I checked the requirements and she actually does qualify. This may just be what she needs, and I am going to look into it. Thank you for the information on dealing with the lender, this will be my second method of attack. I would be willing to hold the property betting on appreciation in this case. I know the local market pretty well and know the home is under valued because of the overall state of the market in Southern Nevada. So, maybe worst case scenario is we can do something through estate as you mentioned. This is a last resort because whatever her mortgage is, I don't think it's affordable for me. I don't want to hurt myself in the process, but am willing to do just about anything necessary to keep her in her home.. 

For the body to be blocking the door, and nobody else being in the bathroom, that tells me suicide. How would someone else get out and put the body against the door? 

I'm looking at this as a strategy to use in an investment pool in the range of $500,000. I'm not strictly speaking of low value assets and non performing firsts. I'm looking at notes in general, both non-performing firsts and seconds, and possibly a performing or reperforming note to have a solid gain, to be reinforced with the NPN strategies. Perhaps my thinking is too big for now, but this is something I plan on trying to get rolling within the next two years, outside of my own REI and other investments. Perhaps I should have said that from the beginning to avoid the confusion.

I want to learn as much as possible about all the different strategies out there now, so when it is time to action I can do so without second guesses or questioning myself, and have a higher probability of being profitable with any notes that provide opportunity, first, second, or otherwise. 

@Bob E. I know you are relatively new in the note space, but have you had any late payments or defaults after you've complete a mod?

It seems like with 1st NPN there are a lot of complexities and issues that may be avoided by going with the cheaper 2nd NP behind a 1st performing. Perhaps this is why some prefer the 2nd?

Great discussion that came about here. What I gather from all this is that notes are a lucrative way to invest, provided you know what you are doing and what you should be paying.

@Jay Hinrichs  @Dion DePaoli   What is the quickest way to get at least your minimum investment back to use towards another deal? Selling the re-performing note, selling the front-end payments, etc?

 @Mike Hartzog 

I'll be taking the agent or wholesaler route. That will help me build cash for true REI endeavors.

Unfortunately my credit limit between 3 cards is about $1,000! Haha. I thought this as a means to get the medical bills off my credit report and get back to a 720, but clearly that is not going to work!

 That's interesting. Was it just torn to pieces on the interior? What would justify such a terrible price? I've been recommended to several places by other investors that aren't exchanges, but hedge funds who are the originators of the debt, or pool the debt together, and then sell it out. This seems like the best way to go. Exchanges seem like mostly investors trying to sell off their bad deals to some poor other guy.

Ignore that last question. If you sold the front 110 payments for $40k you already profited $12,500 and got your money back. And you gave yourself a potential cash flow in the future should they stay performing now. 

She lives in a very nice house in a very rural area, so I don't have super accurate comps. And it's a semi-custom home. $350k is my guess based on my knowledge of the area and what they bought it for at market height. All I know for sure is that it's under water a nice amount, and now is NPN.