All Forum Posts by: Arthur Mayer
Arthur Mayer has started 8 posts and replied 68 times.
Post: Note Education/Books to read: newbie!
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
I personally bought David Van Horns student course. I personally think it's worth the investment if anything for the coaching calls and download able documents provided
Post: I just received this call
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Always great when the homeowners are nice on the other end. Maybe I'm confused though wouldn't the conversation be a bad thing if you bought a note? You bought a note, but her house is free and clear? Maybe I'm looking to deep into this.
Post: Differences between NJ and AZ tax liens and auctions
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Originally posted by @Dave Versch:
Originally posted by @Jerry K.:
@Dave Versch I don't know NJ tax lien auctions but I have done the AZ auctions (and I'm from IL) for the past 5-6 years. In the midst of two AZ tax lien auctions now so my time is limited. What counties in AZ interest you? The counties have some differences in how they operate from each other. I do not do Maricopa (Phoenix) auctions at present.
Hi Jerry,
I don't even know enough to know which counties I'm interested in. I'm more interested in the process I guess at this point. For example, in NJ we bid down from 18% through 0%, then bid a premium after that (which almost always happens for any property worth bidding on). Does it work the same way in AZ?
I've also read that it's better to wait till after the auctions and then get the properties that have been struck to the state for 16%. Hard to imagine there'd be anything worth getting at that point, but maybe it's different there...
Thanks.
Is it possible in those bids that you bid on a lien and get full interest on it without someone else bidding it down or is it too competitive?
Post: Non Performing 2nds & Bankruptcy
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
So I'm curious to some of the more experience investors here:
If there is a huge risk that the 1st will only ask for enough to cover the first in a foreclosure, extinguishing the 2nd, and losing your shirt on the deal, do you typically reinstate the first/property taxes to alleviate the 1st's foreclosure so you initiate and get full value for your note?
Post: Bankruptcies and Notes
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Great post @Mike Hartzog
Great topic as well. I can throw in a few things as well.
I believe you can file a "Motion for Relief" from the stay and that legally allows you to continue the foreclosure process on the property. The other thing as well is you are not allowed to contact the borrower if they are in active BK, but I have heard of some creditors who "accidentally" contact the borrower and have them email them permission to contact them to do a workout package with the borrower or the BK attorney out of bankruptcy.
Since I'm not as experienced as other investors, I'm curious to know what other peoples' experience is like working with BK attorneys.
Post: Note Investing
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Hey @Bob E. do you use FCI at all to buy notes? I've heard mixed reviews of the site, but from initial review, they do have some appealing notes.
Post: Note Investing
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Originally posted by @Bob E.:
I wold start on the Performing side, pricing on the NP side has gotten more challenging over the last year.
@Bob E.
Really enjoy your posts on here. Out of curiosity can you expand on the challenges of NPNs? Are prices going up?
Post: how much is this note worth?
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
I believe I read somewhere on these forums that most note investors were looking to make 15-20% ROI on a performing note? I could be wrong on this.
Post: Good Site For Purchasing Notes
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Also PPRNote co. ran by David Van Horn sells notes. They have a little bit of a premium on them too, but might be good on a one-off basis.
I do believe Gerald Lemoine sells them too? I could be wrong on this one though.
Post: Good Site For Purchasing Notes
- Contractor
- Rancho Cucamonga, CA
- Posts 69
- Votes 12
Keep in mine FCI is not the one listing the notes. They are just facilitating the seller to post their notes and the buyer to purchase the note, so if the notes are over priced it's on the seller's side overpricing their notes. There are some really good deals on there too, and you can always put in an indicative bid less than lets say a seller who is selling their NPN at 100% of the asking price.