All Forum Posts by: Jay Raught

@Eddie Starr Id go with what Scott said, he has been in the game for a bit....  WHy not take a few minutes to call a few title companies etc. The worst thing they can say is nope try a bank. etc...  Or just leverage the people who have those relationships to get you the notes. 

@Account Closed you can acquire properties via notes too.  You might even be able to buy more than one this way... We just rehabbed a home we bought via a non-performing note.. Now we hold as a rental... after sometime we may sell and hold the note...... Keep reading on notes!!!!

@Pavel Sakurets If you are holding the notes through a servicing company that is licensed in MN wont that cover you? I would be interested to hear what they tell you. Some servicing companies are licensed to collect in all 50 states. 

Everyone asking where to find note info here you go....  NoteMBA podcast.  Scott Carson, Bob Malecki. Invest in Debt - By James Napier ( oldie but goodie) Performance Anxiety by Gordon Moss.  Note Buying Cash machine podcast.  Dave Van Horn.   @Adam Jason rather than explain what is written, see the Gordon Moss book. There are factors a plenty to determine what a good NPN second, one tidbit though... make sure there is equity coverage in the event of foreclosure so you do not get wiped.... I own a few seconds but I prefer firsts. In the end, all the education you absorb will be nothing like the education you get by actually buying a note and going through the "note seminar" Every note is unique!

@Andy Plattner check out the NoteMba podcast as well.  Plenty of information. 

2nd's are not always wiped out,  I hold a 2nd that is going through a BK and have received 2 monthly payments under the bankruptcy plan.... even if its was the 2nd can hold a lien.  If there is equity coverage the second will get paid... Oh and I have foreclosed from a second position... 9 months later they are making on time payments.....

Good luck, let me know when you bid on your first note! or if you need help finding them. 

@Linda Hastings that  is a good one..... It can go so many ways.  I guess I would say that the hard-fast "exits" that you will hear about over and over, are just a few.. As I stated before, notes area new educational experience each time! One more thing... makes sure you reach out to people in the arear you want to buy. It makes huge difference!

In speaking on that, I have never spent any $$$ on anything other than the fee to go. I use the time to Network.  @Jay Hinrichs I really enjoy the value added posts you provide.  Listening to someone who is experienced in real estate investing and can bring an honest voice is greatly appreciated!!!

@Andy Plattner There are ways to accomplish what you seek, I do not know every intricacy in notes, but I have a team that can get me what I need. Keep networking and JV with someone, that is the best way. Scott Carson has plenty of training on notes, how to Find, Fund, Flip etc, NPN can be lucrative, but they can be expensive, slow and steady wins the race!! Let me know if you have anymore questions.