All Forum Posts by: Daria B.

 Hi Haitham,

No problem. It's just that so many send requests and never put anything regarding the request and I saw you were an active poster. :-) How did you like NoteCamp 3.0? It was my first and I thoroughly enjoyed the sessions, questions, and all the activity afterward. I don't think I would have been ready for it though had I not known a little about Notes.

@Haitham Elbedawy 

Hi-

I tracked you down from your posts. You sent a colleague request but no message was attached. It would be good if you had a message as I get requests from others that do the same but I have no idea why they are reaching out to me. If there is something I can help with let me know. Thanks Daria

 Hi Wayne,

I caught you at NoteCamp 3.0. Would you mind sharing with me your experience with the servicers you have used (pros/cons). Thanks

@Roman M.

Yes, you answered my question.

What I meant by buy back was simply getting our money back due to the change in the contract agreement when initially purchasing the Note. It all seemed to happen simultaneously, we got the collateral file, funded, they (seller) completed a loan mod. :-| Say what! Yes, it was too many hands dealing on the seller side and no one was watching what was going on.

We did come to a resolution and all funds were returned but it took 8 months to be whole again.

To avoid this going forward, it's atop my list and I think your description of the Assignments/Allonges being in place and valid will hopefully help with future diligence. The part that took me was the person we dealt with was "affiliated" (?) with a hedge fund and it was the hedge fund holding all the cards but that's not who we dealt with. It's all over with now and I'm smarter for now for knowing next time what to ask and look for. ie Hey, so are you doing a loan mod on this Note? How about checking to make sure? :-)

@Chris Schwagerl this is a good post from @Roman M. who answered a similar question. Though this may give you a better understanding of what's involved rather than assessing the asset. I think for Notes the assessment is the asset and the borrower perhaps weighing more on the borrower. I know nothing of 2nd liens as I invest in 1st but from what I do understand, the analysis differs.

https://www.biggerpockets.com/forums/70/topics/440...

Good Luck...

@Chris T. I too listen to Czarina Harris. I've not gotten through all the podcasts yet but I think she simplifies a lot of what I have already learned (wish I had found her before I started investing) via my local Note REI and JV. I look forward to learning more from her podcasts.

Good Luck....

 @Roman M. do you or can you also ensure the Note seller is the owner and not "I don't like saying wholesaling but i don't know any other term". Does your #2 Assignements cover this?

I have a few notes with a JV.

We encountered a situation where we bought a Note but found that the person we were dealing with didn't have any authority for a buy back, which occurred as a result of changes occurring during the buy process. Essentially, the note was modified and no longer represented what we were buying. To this day (and it was explained) I still didn't understand the relationship that person had with those who had the authority to write the check. Took too long to resolve but was ultimately.

@Sherry G.

I don't know much about co-ops but if it's akin to HOAs (always paying out $) and I see you used the term assessment, you may want to sell since it's also not cash flowing. The up side I see is you avoiding the capital gains. Any opportunity for a better investment I think warrants consideration.

Good Luck...

@Mindy Jensen

thanks all, what ever you did worked !