All Forum Posts by: George Frye

My brain just exploded, cant believe I am getting all this info for free. I am aware about the laws in Georgia as @Doug Smith shared this with me a few weeks back. I am currently living out of the country and really dont have a location on where I want to invest in notes. I would like to stay close to Georgia but not stuck to any location.

@Bill Gulley So from what I gather the best way for a newbie to start is to find a good brokerage firm, vet them, and then buy your notes from them. All the while learning as much as you can on your own and from them.

Wow @Dion DePaoli that was a lot to digest. I thank you for all of that. I have to admit it kind of made me nervous when you said start reviewing Fannie Mae/Freddie Mac documents (side note, did you mean their loan document called the uniform residential loan?)

Thank You @Marty Happleand @Aaron Mazzrillo I will take both of your advice. I found some other online calculator courses that help with learning Time Value of Money. I just didntwant to get stuck doing work and never invest.

Also Marty did you start off investing in Non Performing 2nd's? That seems like a tough place to start for a newbie. I would like more insight on your road into notes.

@Ellis San Jose Once again thanks for the advice. I am enjoying learning how to work my financial calculator. I will look into more things I can practice with it. I finished the book calculator power.

As I am living out of the country right now it will be a little difficult to take some classes unless I can find some online. I wish I was able to to make Jimmy Napiers class. I really enjoyed his book Invest in Debt.

@Ellis San Jose thanks for your response. Do you have any reputable brokers you could suggest.

I am reviving this thread only to get a better understanding. I am still learning on investing in notes. I dont want to keep reading I want to go ahead and get my feet wet but with everything going on especially with the SAFE Act what is the safest way for me to go about getting started. I am looking at investing out of my retirement account (which I am moving to either a solo 401k or a self directed IRA) and have about about 50k to start with. What are your suggestions to get started

@Dion DePaoli I am looking at starting with residential notes but moving with time to commercial. Commewrcial hasalways interestedme but not as familiar in that space as I am with residential.

@Bill Gulley I always look forward to your advice, even though it isusually a tough pill to swallow for newbies as sometimes it shoots us down. Its still very much needed from a veteran so that we wont go out there and make costly mistakes.

I have been studying the note business for a few months now. I finished Jimmy Napiers book and also devoured calculator power. I dont want to get paralysis of analysis, however I want to make sure I understand how to review a note work it out and be able to know if it is a good buy or not. Can anybody recommend some ways I can get practice in learning and becoming better in note evaluation? Thanks in advance.

Thanks @David Beard I will put these into motion first thing in the morning. He is suppose to be sending me his rent roll.

@Wayne Brooks I consider that. However he is considering it because he doesnt want much for the business. This way he can start his business and still get some money on the side. If it is cash flowing like he says then it is a win win situation for both parties.

@Anthony Palmiotto Thanks for the tips I will try to factor these into my cost analysis.

It was built in the 60's and is 100% occupied. It had a total renovation in 2005 and recently had the exterior updated in 2012. There are no management fees due to the owner self managing. All utilities are paid by residents. Only expenses are taxes and insurance and minor repairs such as lights, appliances, and ac units. However none of this is on paper.