All Forum Posts by: George Frye

@Doug Smith I know Doug, since we last spoke I have spoken with and also studied the laws in Georgia and the loopholes we spoke of are correct. However I am not looking to purchase in Georgia. I am just looking to learn. I could probably choose another state and learn but right now I am just learning in a comfort zone. I will move on to another state so that I can make sure I dont get into any trouble.

Now on to the subject at hand. Yes Doug I appreciate everything you have taught me however I am looking at performing right now. Maybe in a few years I will move to non performing. I would love to find a partner who can lead me through this. However now a days the only partners I can find are either "gurus" pushing a course or work for a company so I can t in good conscious ask them to help me evaluate outside notes. I hate learning on my own but until I find that person who can truly guide me down the right path, "Im all I have."

@Bill Gulley That is the type of deed I am looking for however the courts have moved to a clunky user un friendly computer system.

@Jesse Tsai have you ever purchased a note from FCI exchange

@Dion DePaoli that is what I mean. I am looking for the instrument. However the instruments I have found did not list everything I needed to properly evaluate the note. The only reason I ask about Georgia is because that is where I am from and it would be easier for me to learn in this system. I understand the laws concerning purchasing notes in Georgia and I also know the loopholes around those laws.

With that being said I am not licensed to by owner occupied notes in Georgia so I cant purchase yours. However any advice on purchasing notes in Georgia is greatly appreciated.

I am buying notes as a form of income. I am looking for notes that were secured through owner financing. I am not looking to go directly to the bank as this is more of a hectic situation.

I am looking to purchase some notes and was told to go look at the courthouse. I just found that in Georgia notes are called security deeds. However when I looked up security deeds on the county website these documents dont give me enough information to determine if this is a note I should be looking at.

Are there any investors in the Georgia area who have done courthouse research and found good notes. Please help.

Thanks Doug, I think that is what I am having to do. As I am having difficulties getting documents that explain how this deal was put together. So I might cut my losses and look for other notes.

its actually a private seller.

Thanks @Dion DePaoli , I am starting to see that as I spoke with the owner who stated that he didnt run a credit check because he doesn't believe the tenants are here legally. So things may look decent at first but they are starting to get cracks in them.

@Bill Gulley Im confused by your math..Why are you using 360 instead of 365. Also why is this equation necessary to get the evaluation of the note. Im not questioning you just wondering why it is necessary.

@Don Konipol thank you so much. I figured that the payments were close to 8000. I would like to know how did you come to your evaluation? Im still learning the process of evaluating an irregular cash flow.