All Forum Posts by: Daria B.

@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 !

I have lived in Gainesville since 2003. Began investigating MFR a couple of years ago and put offers on a few but nothing accepted.

Some investors have had good success at acquiring but I have not really seen any that I would pay for either for the location (bad bad crime) or the price. (Ex: Phoenix is a terrible location in my opinion. It's a small pocket area surrounded by other apartments.)

There were a couple being sold ( 2 1-4 units back to back of one another) from one long time owner in an area that actually wasn't that bad - near UF and other apartments and MFR. For me, the problem was foundation issue on one set of units and great deferred maintenance on both. There seemed to be one HVAC replaced since it was built back in the 80's. Asking to much.

Reach out to a few realtors and have a discussion with them on your criteria. Doing the neighborhood search is a great idea for crime. 

Gainesville is experiencing a ton of growth in building - although there is a high student population here with UF and Samata Fe, I don't see just how they will not have high vacancy rates.

Not sure what I can help with but let me know. I know a few agents that work with investors. And yes, they also understand the mindset not just doing sales.

Good Luck....

the newly formatted emails don't work when using the links.

The emails titled "Discussion Alert" link that is the topic and the "View Most Recent Discussion" does not work. This is the link with white letters and green background. Tapping on these links don't open the page in the web site. Nothing happens.

The emails tiled, "Topic Alert" work when I tap on the "View Topic" link that is the white letters and blue background.

Please fix "Discussion Alert" emails.

@Dave Van Horn

@Scott Carson

Tried to tag you guys but it did not work in the thread.

@Jeff L.

I am a Note investor, began last year with an experienced JV partner. I consider myself semi passive. What I mean by that is, the JV takes care of all the moving parts (lots to do so I won't list here) and I'm learning as we go through this and I pick my Notes that I want to buy. This is of course with some help from my partner. You will find a lot of people do this until they go on their own, if they want to.

I have a good understanding of what I am buying and what my buying criteria is for the Note. I attend monthly REI meetings devoted to Notes and a once a month Mastermind for more Notes discussion and networking.

For those who journey down this path that are active, they do a whole lot of research on a Note(s) and also have a servicing company when they buy to manage the payments, contact with the boworrer(s), a company to hold all the documents (Collateral file) like assignments, note, etc. So this means they need to vet the servicing and document companies but, I won't say more important but just as, all the research going into buying the Note. 

I feel I'm leaving out information to explain this to but because it's so much it would likely do you better justice to have a conversation with one of these guys.

@Dave Van Horn and @Scott Carson.

I just attended my first NoteCamp that Scott Carson does since I felt I had learned enough on my own for the past year to branch out and get some more education and meet other advanced Note-ers :-)