All Forum Posts by: Paul Chapey

@Mark DiPietro

I live in Mooresville and have always used IRA Services. They're service and rates are excellent.

@Andrew S. AHP made a lot of noise when she came on board, but her departure sure seems quiet. 

I can't find any news stories about O'Donovan leaving. Can anyone provide links?

You might also give some attention to the cities north of Charlotte that are now much more desirable locations to commute to Charlotte since the expansion of I-77 is almost complete. Locations would include Davidson, Cornelius, Huntersville and Mooresville. Since these cities are all considered part of Lake Norman, rents will be high as will house prices. I suspect they'll be some decent near-term appreciation.

@Chris Seveney Trust me Chris, everyone investing with Norris also knows where to get 12% and many do. Norris has the deepest-pocket and saviest investors in SoCal. It's a huge market in all aspects of real estate, and no one is held in higher esteem than Bruce Norris. I'd take his 8's all day long.

The Norris Group deals are at 6 and 8 percent, and they go very quickly.

@Marco Bario Perhaps you know these guys – they are friends of Ward and very involved in non-performing notes: Gordon Moss of Quixote Ventures and Gerald LeMoine of The LeMoine Group. Gerald is a past student of Ward and holds meetings in Orange County about notes. I have an investment with him. 

Until around 2013, Ward used to hold reunions but doesn't any longer. At the last one, Gordon was a quest speaker and gave a great presentation on NPNs. I believe he's still involved in note education.

@Marco Bario – Many years ago, I took Ward's foreclosure course. It was the first step which enabled me to do extremely well at trustee sales. Checking title was a major part of the course, and although I never had to go to the county recorder's office after the course, his teaching enabled me to catch a few potential costly errors from title companies. 

Ward's list of "students" is impressive. He taught the guy who started auction.com, also Bruce Norris' son Greg Norris and many of the top trustee-sale buyers in California.

As you probably know, Ward is always available to help you. If he doesn't know the answer, he'll direct you to someone who does. He's a super-solid guy who's been around for a long time, has tons of friends in real estate and is dearly loved by everyone who knows him. His integrity is legendary.

I hope you have tremendous success in non-performing notes.

David, Current workaround on the internet these days on something like this is to preface with:

     "I'm just asking for a friend."

Even though you're only doing one loan and should be compliant under Dowd Frank (a one- property exclusion would even allow a balloon) just use an MLO anyway and have him bless everything you're doing. The MLO will also help you start your collateral file off properly. Use a servicer on the loan, and if at any time you want to sell the note, you should be in good shape.