All Forum Posts by: Jay Raught

@Shawn Ackerman I do as much due diligence as possible before I put in a bid.  In some cases it takes more than 7-10 days to get all the information needed.  What if you bid on an asset and had your offer accepted only to find out that the property no longer existed?   The best way is to target assets in the states you are interested in. Target a few, start looking at online pix, run the estimated value from a few different web sites, see if you can find a realtor nearby to evaluate the property, or at minimum get someone to take some pictures for you..... Check for ANY liens or taxes against the property because they are all yours if you buy it.......

@Mark Welp instead of an excel sheet use the 10bii calculator to run all the numbers on the performing note to see if the value is right for your buying criteria.  

@Tim Dobbs I use and LLC and a SDIRA to hold notes, I have a combo of first and seconds. If the price is right and the conditions are right I buy. Good luck1

@Cathy S-Lewis as Chris has stated, what is your buying criteria.

FCI is robust and has a great online portal. The portfolio dashboard shows payment history, late charges, total payments, interest etc etc etc.  Licensed in all 50 states is valuable...

Madison Management is another one I hear good things about, I have not used them and they are not yet licensed in all 50 states..

Columbus? Message me.

@Michelle Tucker listen to get rich education podcast #9 and learn how powerful your house is!!!! 

I am from the east coast and just ran through Columbus, Dayton, Toledo, and Akron this past weekend. We own a property in each city.  We acquired these through purchasing the mortgage notes.  There are so many ways to get into the game. We are actually taking a hard look at one of the cities and have contractors and realtors there.  Let me know how I can help?

and if there is enough equity coverage,,, go ahead and wipe,, I will slap a lien on you, one day I will get paid. 

Not all true, the 2nd can still hold a lien against the property... 

@Michael Glunk we use the 50/50 method.  

@Jonathan Orr when you say target do you mean buy them?  I am not sure you should limit yourself to just waiting for a note to stop performing so you can foreclose. You can find plenty of notes in that situation already. I also would not limit my exit strategy to just that.  Like @Christopher Winkler said notes have many moving parts. 

To evaluate the note start with the UPB ( unpaid balance) FMV, how long it has been in the NPN state, what is the area like, (crime, schools, jobs)..... If it is a second NPN same things but factor in equity over the first, is the first performing, etc.. there are plenty more factor to evaluate, these will get you going....