All Forum Posts by: Jay Raught

I would do my best to find out about the first, I do not buy a 2nd unless the first is current and there is enough equity to cover me in a F/C situation.  Sometimes that info is provided when you are looking over tapes of notes. 

Feed him cheesesteaks @Steve Babiak

Performing notes are sold for 60‰,or more, they are sold at a discount because the seller most likely bought this note as a NPN, seasoned the Note and is selling it as a performer.

If you buy a npn you can get discounts but if it is 80% off there are probably big issues. 

The JV terms are set on how much you want to help, if you put up all the capital and I do the work, the split won't be 50/50, there is quite a bit of work involved. The return you should expect is dependent on lots of factors, but it can be double digit.

Welcome to BP. 

Did you make any profit on the deal? 

@Fay Chen I personally use CamaPlan, so far they have been fast. once I do the paperwork correctly.  What I do like about them is when I call and ask a question, I usually get the same person on the line.   I do hear good things about QuestIRA also but I cannot speak to them as I have not used them. 

@Benton Moss check out Laughlin & Associates, they should be able to answer your questions.. I do not work for them, nor have I purchased anything from them.. yet. Once I get my business flowing enough I will use them to form a holding company, right now I am only using an LLC.

@Nicholas Hughley the LLC is a must, FCI (servicer) will not board a note for you as an individual.

@Chris Taualii CamaPlan holds 3 mortgage notes for me in my SDIRA,  and yes the admin/ custodian holds your funds. 

@Fay Chen I wrote a short post listing self directed IRA custodians. I use Camaplan since they are local to me. Check out the link I posted that lists a few of the custodians.