All Forum Posts by: Jay Raught

@Chris Seveney you have other people, ( servicers) get the note re-performing. I have NPN notes in my SDIRA and I do not do anything on these ( self dealing is not a good idea) I also have a JV partner on a deal who used a SDIRA and I have to make all the servicer calls, record title, etc. @Patricia Miller go for it! I look at it like this, I had stocks but they wont perform as well as real estate! 

@Renata McCulloch, @Cameron Sigurdson as Christopher Winkler stated, I tend to stay away from exchanges and buy direct from other sources. 

@Jay Hinrichs we run all of our notes through servicers and use them to contact the borrower. We do not talk with the borrowers. I like servicers who are licensed in every state to collect debt.  we also have lawyers we work with if we have to foreclose etc and to make sure we are doing things correctly. 

@Jay Hinrichs I was thinking the same thing on the name.  We look to buy assets that make the most sense in terms of value, we are more interested in the paper aspect.  That being said, each exit strategy can and will change while buying and waiting for collateral etc.. People should understand how ever-changing notes can and will be. 

To speak to @Jay Hinrichs point on CFD or trust deed. We picked up 4 in NPN state and each has had its own tale to go with it. We are proud owners of four properties. One even had the fence removed while it was vacant!!! The misnomer of you can evict instead of treat like a foreclosure is also out there. These have been a great learning seminar and will be profitable. In short would I buy these again, maybe... just do your homework before you get involved on the NPN side of it. @Jay Hinrichs and @Darren Eady can speak on the good of it!!!!  Lest we forget managing the servicer too!!!

@Don Konipol @Steve Hodgdon that is so true. New note investors should realize the scope of what they are getting themselves into. Not to scare anyone away but there is so much more to it than looking at a tape and buying the note.....That is just the beginning... Now on to the fun stuff!!!!!! 

PPR note group will carry them as well. 

Check out Notemba and Note Buying Cash Machine for note podcasts. 

Any note school you attend is going to give you valuable insight on note investing and how to search and evaluate notes. Nothing will prepare you for what happens after you buy a note. There are so many moving parts, states have different rules for foreclosure, counties have different rules for title recording etc, etc. It may not be physical work, but you will put in work. Of the four notes I purchased in May I could write a short story on each one. 

Welcome and good luck, I am a note investor and have made some valuable connections on this site.