All Forum Posts by: David Putz

@Benjamin Hirsch correct.  We have our automation tools that allows us to scrape county sites for these types of things but finding a note is only half the battle. 

@Bob Berland We have also purchased from them as well as many others.  We found the best way to purchase notes is buying from other investors.  Often times they reason why they are selling is a perfect relationship with someone selling.  We sell most of our loans direct to buyers. 

@Telless Cade we often recommend with little bit of money buying a partial it helps get your feet wet and get you active in the process.   Regarding cold-calling banks, we have heard many make that suggestion however the success stories are limited. In regards to brokering notes, you should know what makes a good note as you will be more successful at pitching it to investors. If you are looking for the tools feel free to reach out we have a ton of automation tools(Such as our new Notes Bid calculator) to help + over 100 Assets for sale. 

@Joel Hutchinson Many of us buy individual but also buy "pools" buying with IRA has its perks as well. I

@Daniel Chun The space is very small, so just ask around for recommendations on mentors.  There is a ton of resources but as we have in our beginner's series one of the best method is mentor and the method is barter. 

@Ben Lake Often the best found owner carried notes are the ones that are posted for sale but done out of "must", for example someone who inherits a home. 

Being a note investor for over 10 years and starting at large fund I always saw large tapes.  When I broke off in 2012 and started buying personally, I hoped never to see the day of tapes of less than 300-500 would never end.  I have seen many new investors enter (and exit) in this time but I have also made some great friends along the way.  I am curious with things being up-in-the-air where others see this investment space moving to.  We had a webinar recently that talked about this and will have one tomorrow so I was wondering from this social media where others see things in a year from now.

We have always used UPB as our FMV for both our Performing and NPL.

@Jason Dellaposta I apologize for not seeing this post earlier.  I was part of that call with Kimberly and Nathan a few years back and it was great to share information.  Being in the note space for over 10 years, putting a bid calculator together has been the number one item that most people ask for.  However each method of calculation is unique to how the look at deals, which makes "sharing" difficult.  On the flip side it is also that secret sauce that gives you the leg up.  Feel free to reach out with any questions.  JKP Holdings

I agree we haven't seen many Colorado notes in the 100's of thousands of notes we have seen/bought over the 10 + years.  

@Miao Wang you are buying the debt secured by the real estate not the hard asset.  So if the debt goes into default, recourse is set by the terms of the promissory note.  Often that is a Lien on the property.  Which means you can go through the process of foreclosure.   

If the borrower performs it is similar to rental however you are not dealing with the tenants, turnover, roof, maintenance etc.  However you do not own the deed of the property so no appreciation.

If you buy the debt at a good discounted price you then can collect a great irr/yield for years.  You then can sell the note easily. 

jkp holdings 

Yes we been buying pools of notes since 2010.  What new investors often get confused on is the purchase of debt vs buying the property.   In our space the investment is more about legal than the real estate.  How solid is the collateral file, is there any other liens, what the state laws are on their debt license etc...