All Forum Posts by: Hannah Reichert

@Marco Bario It was the Naked Notes podcast, owners of Note Assistance Program. It was one of their earlier episodes, but their language was enough for me to question what I thought I knew. I'm thinking the goal was for people to use their fund instead of trying to go bank direct, but regardless, glad I got clarification!

@Andy Mirza That is helpful, thank you!

Do you need to be an accredited investor to buy notes directly from banks? I didn't think so from the courses I've taken, but I recently listened to a podcast that suggested it, so wanted to see what others had experience with. Thank you.

@Alecia Bolton Great point! We're hoping between my husband's dental practice loan, a large nest egg (have been saving 60% of income for some time) plus our RE investing journey ahead of us, that maybe a smaller regional bank will begin that relationship with us with notes. Wanting to provide a win win for everyone. 

@Chris Seveney I meant more to buy notes from them. I've been encouraged to foster a relationship with a small regional bank so I can be privy to their note tapes. My thought is to start that relationship initially with my own home loan (moving to a new area next Spring) and opening a big savings account with them and see if that would indicate my commitment enough to start a notes discussion. Of course, I'm open to suggestions!

@Gary Headrick Thank you! The ones I'm looking at have anywhere from 4 branches to 300. I wonder if that's too small? What pointers do you have for what to ask in an interview? I appreciate your wisdom!

Hi all! I am going to begin my note investing business next year and am looking to build relationships with smaller banks. My husband and I will be buying a dental practice plus buying a home next year, so hopefully that will kick start a relationship with them. My question is, what size of a smaller bank is too big to establish a note relationship with? Some of the banks we are looking at have as few as 1 branch, and some as many as 230. What has been your experience? Thank you!

@Nadia O. Following up what JJ said, the high desert (Yucca Valley, Joshua Tree, Pioneertown, is booming as far as STR are concerned). That's my hometown and my family operates a large real estate/PM business out there. That family and many of my friends have many many STR that are doing very well for themselves. It's also doing really well for LTR too as people from LA are flooding the area for both short term and long term reasons. It's right next to JTNP (Joshua Tree National Park) so we get a lot of tourism, including celebrities. Of course, do your own research about area laws regarding STR. We just bought our first LTR and are cashflowing well.

@Tim Bellnier Thank you Tim! Retraining that tape of thoughts is tricky but worth it like you said. Certainly simple but not easy. Here's to practice!

@Kai Van Leuven Thank you Kai! I've heard it's 20% strategy, 80% mindset so focusing on these mindset exercises and posts from folks like you help! Keep up the awesome work (and yay Washington!)