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All Forum Posts by: Dan Deppen

Dan Deppen has started 6 posts and replied 255 times.

Post: Owner Financing

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257
Quote from @Ty Loney:

Curious if this would still be applicable with todays rates


 Yes, there is still a lot of seller financing going on: https://noteinvestor.com/notes-101/seller-financing-2022/ (not sure if sharing links is allowed, but it's not my website)

Post: Using AI in Your Mortgage Note Business

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

I have an upgraded Grammarly account that I use to rewrite paragraphs for newsletters. Admittedly, I'm a late adopter of a lot of the AI stuff, but I think it's still a little immature for some of the higher-level use cases you mentioned.

Post: Foreclosure Title search ( liens & Mortgages )

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

I recommend reading Bulletproof Title Due Diligence by Alex Goldovsky.

Post: Diversified Mortgage Expo

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

1/ A lot of people are funding deals using hypothecations.

2/ More people doing npn's in NY than I expected.

3/ There are opportunities to table fund seller finance deals.

4/ I suck at ax throwing.

Post: How often do you buy/sell debt with buyback options?

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

I've heard of people selling loans with guarantees, but I haven't been involved with one myself, nor do I know anyone who exercised the option. Would the option also have an expiration date or last the life of the loan? Beyond the complexity of unwinding the transaction and reassigning it, you would also have to compensate for the payments received by the buyer before it went delinquent. Also, does the buyer need to exercise it right at 90 days? If I was the seller and they came back with a loan that was 18 months delinquent and vacant I would be pretty annoyed. It feels like there is an awful lot of complexity, but I'm interested to hear what experiences others have had.

Post: Converting Contract for Deed to Mortgage

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

The other benefit of converting it to a mortgage is that it will be more valuable if you resell the loan. I've done this with several contract for deeds.

Post: Software for notes

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

It looks like he nuked his whole channel.

Post: Software for notes

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

I've customized Pipedrive to track assets, set reminders, track what needs to be done, set due dates, keep historical notes, etc. That's not really the intended use of Pipedrive, it's a CRM that I've kind of bastardized to make work for tracking notes. But it works well for me.

Also out of curiosity, what was the number of notes you hit when you felt like you needed a tool to manage them?

Post: Free Webinar on Investing in Second Position Notes

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257

Sherman Arnowitz is going to join me (Dan Deppen) again for another webinar on investing in second-position notes. Sherman is a true expert on seconds and has been active in the space for over 20 years.

I'll pick his brain on topics including:

  • Setting goals
  • Due diligence for seconds
  • How to analyze second position notes
  • Pricing for seconds
  • Foreclosing from second position
  • And more...


If you can't attend live, you can still register to get the replay. 


To register for the webinar you can go HERE.

Post: Top Ten Excuses(I’ve Gotten) For Not Making Mortgage Payment

Dan Deppen
Posted
  • Erie, CO
  • Posts 259
  • Votes 257
Quote from @Chris Seveney:
Quote from @Don Konipol:

TOP TEN EXCUSES (I’VE GOTTEN) FOR NOT MAKING MORTGAGE PAYMENT

10. I thought my ex wife made the payment

9. I already made 12 payments last year

8. I’m thinking of selling the property

7. My dog needed his teeth cleaned

6. My tenant stopped paying the rent

5. I was out of town and didn’t have access to my finances

4. The bank froze my funds because I’m a vegetarian

3. I kinda sold the property and the guy who kinda bought it was kinda supposed to pay the

mortgage

2. The electric bill came in kinda sudden last month

1. I need to rebalance my checking account before I can consider paying any bills


 11. I got covid 27 times

12. I was a victim of identity theft

13. My old mortgage company went out of business so I no longer owe this money

14. I sent in a money order already. Not my problem you did not get it.

15. My friend told me I should not pay anymore to negotiate better loan terms. 

16. I was in prison.


 I got 12 recently, 14 I see a lot.