All Forum Posts by: Varinder Kumar

@Joshua Howaniec

Either attorney or servicer can play the middle man in negotiation. You can reach out to them your self also. I believe serivcer will facilitate the terms for you. And its really what makes sense for you investment. So you should have you terms etc already played out in mind prior to purchasing note, terms, interest rate, down payment etc. 

@Account Closed

scenarios i mentioned previously are the special considerations you need to keep in mind. just have to double check everything. Title search etc. 

I dont mess around with seconds

Hello anyone familiar with Dayton, Kentucky?? What type of area it is? real estate market as well? average DOM etc. Seems to be a good area from what I can find online. Any input would be greatly appreciated. Thanks!

Let me know if you want to invest out of your SDIRA. Currently looking for partners to fund deals in the note niche. PM me. 

LLC is typical. I have a LLC for my notes. And many can be created when doing different deals with partners, if you wish to do that.

I never recommend self servicing of your notes. You just have to make sure all the numbers make sense in various exit strategies. If you are getting it at a good discount then you will be secure. 

Things that can happen: 

-seller says its performing when its not. Does not matter at this point if you are getting it at a discount leaving you with enough equity in the property and a good LTV.

-home is vacant. Again i wouldnt care, now i can get a new borrower in there and board the loan with my servicer and start fresh. I would not go with FCI by the way, try Madison Servicing.

-You buy it for a too high of a price. This can be avoided if you do your homework. Market values, AIV/ARV etc. vs what your buying the note for.

These are just some things to think about. There are other things  that can go wrong. At the end of the day for me what matters is how much of a spread i have on the value of the property compared to what i am buying the note for. 

Another thing i personally do not buy already performing notes due to the fact that someone has already done the leg work on getting it performing etc and now they are selling to you at a higher price. 

I rather buy non performing and do the leg work, get it performing and later sell it as seasoned to someone else if thats what i choose to do or i would just hold on to it depending on my ROI etc.

This is just a quick response to you, many other factors involved. Hope this helps! Good luck.

Daniel Hyman Thanks! I will reach out to them.

Dmitriy Fomichenko Thanks! Although seeing a lot of mixed reviews on yelp. I will further investigate, appreciate the help 👍

Need a recommendation for a good accountant or cpa who is familiar with foreign entities, note investing, and rental income. This will be my first year filing with rental income and my foreign entity. Need someone who know the books and strategies. Appreciate the help, thanks in advance!

Check out Mid Atlantic SDIRA.