All Forum Posts by: Daria B.

Does anyone know of a web site that has costs associated with the foreclosure process for each state? I'm looking for something that is not necessarily "official" as costs do change. This can be in the form of estimation of details or a lump sum 'round about figure. Likely, judicial states will cost more, but that's a guess.

This simplifies everything about IRR and when to use XIRR. I've been trying to grasp this for some time now and the video just makes it all seem so easy. Thanks @Brandon Turner

 Depending on the rental location it may be a codes (enforcement) requirement. My current tenant (leaving at end of this month) ruined the hood and it needs to be replaced. I'll be looking into doing it myself and if it gets in over my head then I'll just ask the PM handyman to do it.

More often times, I think, than not, are the ability to secure a mortgage. If rents are higher than what a P&I would be including escrow for taxes and insurance, then it's likely the ability to qualify rather than affording the cost of the home. While cost is a major fact, if not the most, getting the down payment and being able to afford the monthly note just seems to put a lot of people out of reach if the can't qualify.

 I agree, FCI $ are far and above higher than I generally look for, but I use it currently to "learn" the business. I can go through and choose notes and do some research to see "what" I would offer. Of course this is still without knowing what is in the collateral file and not looking too deep into if it's FC-er-ing. I actually found one in my own city where the seller wants, my opinion, too much and has commented that borrowers have applied for Hardest Hit Funds, which is no guarantee so why would anyone sell if that was going to happen. I recently learned about HHF so I can see that if you already have a note or are looking to buy one and know where in the process they (borrower) are then it "might" be a good thing for the note holder.

won't you have to pay back your HELOC on a monthly basis? How are you going to manage the cost of buying the Note, such as, foreclosure costs (if any) or loss mitigation, boarding the note, serviced fees, etc. I've had some NPN that took a couple months to workout so can't count on monthly payments until you find out what's going on with the borrower.

What would the person be doing? There are people here on BP that are looking for VA work, in addition, already vested in or learning of RE. Upwork is also another choice as already mentioned. I have no experience with them either way.

  Hey James 

I've been JV with someone and since they have an LLC we have been using their company name for which our notes are purchased under . Considering though, like yourself, who are buying by yourself are you doing this in your name or are you doing it in the name of an LLC?

@James Kramer

As you said, there are many other factors involved with pricing. Are these performing or non-performing, 1st, 2nds, etc.

As a start, I don't look at either but both - % of UPB and BPO. There are investors that just look at value and others that just look at UPB. I take a % of both and look at the lower end - in addition - to several other factors regarding the note (ie judicial, non-judicial, occupied vs vacant, interest rate, payments in last yr, etc, the list can go on depending on the investor).

The SDIRA companies don't dictate the management of the Mortgage Note. If a loan modification, foreclosure, what ever that case is, would be determined by the note holder. As I mentioned, we have a NPN that we were considering doing a loan mod for and didn't do because the borrower started paying.