All Forum Posts by: Steve Hodgdon

@Nathan Frey You'll find lots of good info and perspective on the BP note forum. There are stories of home runs and ponzi schemes. For me, I like my entity interest to be recorded. So I buy one by one. Don't know that it matters if you pick funds that you're confident with. @Bob Malecki is somebody I trust. Read threads here to get your own sense of who's right for you. @chris 

@Chris Seveney and @Dan Deppen are good to follow too. 

Bob - agreed. But it's up to us to be wary of backwards looking BPOs and even full appraisals in a declining market. Maybe desirable and affordable properties still attract or retain good borrowers? My lower end notes are asking for deferment.  We will see if next month everyone gets a holiday? 

@Dave Meyer Thanks for the 4/22 report. You're doing a great job getting actionable data out to us. The sheet wasn't password protected. The City level tab gave me this result:

There was a time (the last time) where under water 2nds traded for 5 cents. I collected on them like they were credit cards. Completely ignored the future potential of appreciation. Was in the liquidation business. $$ today was the only goal. 

There will be some of that again. Maybe not a nickel. But if the equity or rent revenue is gone, then what's the "asset" really worth today? Always 2 sides of the trade. 

Distressed Assets Mastermind for Experienced Investors Bi-Weekly meeting Tuesdays. Next meeting April 21st. 

Steve Hodgdon is inviting you to a scheduled Zoom meeting.

Members are encouraged to bring "haves and wants". To gain access to the deal room contact @DionDePaoli here on BP. This is an action oriented group. Not providing education to new investors. 

Topic: Distressed Assets Mastermind Working Group
Time: This is a recurring meeting Meet anytime

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Meeting ID: 125 954 102
Password: 1212
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Meeting ID: 125 954 102
Password: 1212

If I sell a partial and in that sale agreement, I promise to make up payments or other promises in event of default, maybe I've created a security? Saying "maybe" because I'm not an attorney but that was what I was taught. And can you service what you sell? Hmm.

Would I sell a partial? yes and I have. Bought some too.

Daytona Beach non performing flipper loan. I'm helping investor get out from under. Flipper walked away. Now starting recovery process. Tough neighborhood. 1950's 3/1 needing full remodel. 

Topic: Distressed Asset Master Mind Meeting (Open Attendance)
Time: Apr 7, 2020 03:00 PM Central Time (US and Canada)

Join Zoom Meeting
https://us04web.zoom.us/j/4086...

Meeting ID: 408 692 996
Password: 028702

I reserved the room for 2 hours but I think we can get in and out within an hour and change. But just in case.

Topics:
1. Introduction - Who are you with brief business bio, if any, and any involvement with distressed assets this far? (All Call Members)
2. What might be similar to last recession - so far and potential what's coming?
3. Insights into current market activity - what are or have you seen since March 13, 2020 (Day 0)
4. Price, execution and disposition hurdles and expectations
5. How do we all help each other - trade opportunities, other service opportunities
6. What are we initially not talking about?
7. Concepts for next call?

I will try and collect call names, emails and phone numbers for everyone and publish a roster so post call we can all communicate as desired. If you want to email me your information in advance I will start the roster now.

Thanks

Topic: Distressed Asset Master Mind Meeting (Open Attendance)
Time: Apr 7, 2020 03:00 PM Central Time (US and Canada)

Join Zoom Meeting
https://us04web.zoom.us/j/4086...

Meeting ID: 408 692 996
Password: 028702

I reserved the room for 2 hours but I think we can get in and out within an hour and change. But just in case.

Topics:
1. Introduction - Who are you with brief business bio, if any, and any involvement with distressed assets this far? (All Call Members)
2. What might be similar to last recession - so far and potential what's coming?
3. Insights into current market activity - what are or have you seen since March 13, 2020 (Day 0)
4. Price, execution and disposition hurdles and expectations
5. How do we all help each other - trade opportunities, other service opportunities
6. What are we initially not talking about?
7. Concepts for next call?

I will try and collect call names, emails and phone numbers for everyone and publish a roster so post call we can all communicate as desired. If you want to email me your information in advance I will start the roster now.

Thanks

Thanks

Steve Hodgdon, Modern Asset Management, Inc.

Dion DePaoli @Dion DePaoli

Commercial & Investment Real Estate

Director Capital Markets
National Sales & Trading Desk
Real Property & Whole Loans
Licensed Indiana Realtor ®

Phone: (219) 281-2510

Office: (833) 744-4661

5194 East 81st Ave

Merrillville, IN 46410

Thanks for private messages. If you have general questions, post here so we can share opinions and experience. If you want actual help solving a specific problem, direct message me. Thanks.