All Forum Posts by: Nathan Turner

Hi @Kendra Lacarte! Welcome to the community. I'm in Montreal and regularly head out to Toronto since that's where my wife is from. It may be a different animal but you may want to look at note investing in the US. I've been doing it now for the last 6 years and love to control the property without owning it! 

I echo what @Matt Geerts said about networking, it's one of the best tools you have in getting information, meeting new contacts, and learning more about anything you are wondering about.

Good luck to you!

@Dale Gwynn the judgement amount is your upb plus any interest and penalties. 

@Bac Nguyen Try SN Servicing, they have a comprehensive online portal you can log into and see all the activity on your loans.

I echo what @Wayne Snell said. Good due diligence on the front end will save you all kinds of headaches later. Of course it doesn't always go according to plan but that's part of what I like about the note business because it keeps things interesting. I have a higher percentage of re-performers from CFD's than 1st lien mortgages overall and in many ways prefer them to mortgages.

A rough guide of which states treat CFD's differently than mortgages can be found here http://contractfordeed.uslegal.com/state-laws/ Just scroll down to the state you want and usually at the bottom there is a case law section that sums it up for you.

@Gary A. I totally agree with @Kimberly Banks Fawcett. We actually compared our own spreadsheets a week or so ago. Kimberly's is very similar to mine but with our own personalized touch and slightly different things we consider and care about. Starting with a template might be good just to see what one looks like but building your own is well worth the effort. 

To go off of what Kimberly said, my first version included a 6% commission for a realtor when the property is sold (if that's the route it goes) and I changed it out for a flat fee which is more common with the property values I deal with. It may not seem like much but accuracy is key!

@Charlie Claxton another one that might be worth checking out is Loan MLS. Personally I haven't had any success with any online platform, but clearly it works for some!

@Lester Carbonell@Quang Nguyen If you guys are interested in something a bit different (easier in my opinion) I can tell you all about investing in notes in the US. I buy non performing mortgages and control the property without ever owning it if I can help it.  PM me if you want to learn more.

@Mark Ortega The only way I know that you might get close to par is if you are buying notes in very sought after markets. California comes to mind... That being said, @Rick Pozos gives a very good summary of what to realistically expect when selling notes. Network, network, network is really the key.

@NA NA Sorry to hear about your situation. In my experience most of the people who are approaching you are doing so because they have a potential solution for you. Yes they also want to make money  and to me that makes sense because the best definition of an entrepreneur that I've heard is someone who helps people for profit. 

Anyway, I hope it all works out for you and like I say, most people are coming with an attitude of helping not greed. Good luck!

@Dustin DeSmith To answer your question on sourcing. Yes these are easy, low hanging fruit as far as finding available notes but it comes with a price. Typically these are a bit higher priced but it may be worth it to you just to get started. After that, networking, networking, networking to find other deal sources!