All Forum Posts by: Wesley Wells

Thanks @Gail Greenberg I am using a similar method for files.

@Bob Malecki do you create this hierarchy for each acquired asset? 

Hi, I was wondering what systems you are using in your note business to ensure all your files are properly organized from tapes to collateral files. I have a process that will work for small number of notes but i would like to improve my process. Thanks for the suggestions.

Madison is great to work with!!!!

While reviewing a particular non-performing note, I pulled all the documents from the county website online before ordering an O&E report. During my review of the files it seems that there is a missing assignment chain on the loan. I am thinking that maybe the documents was not filed and not recorded in the county database. Is this a deal breaker? If not what needs to be done to fix the issue?

Thanks for your honest feedback on the topic.

I was listening the recent episode of the Note MBA podcast (great resource) and they were discussing investing in non-performing 2nd liens. I became very intrigued on the topic but I wanted to get some feedback from active investors on the pros and cons of investing in 2nd liens. 

Any additionally resources on the topic you can send my way is greatly appreciated. Thanks in advance.

@Scott Carson it was the video last Wednesday on your Facebook page, I think you were having some streaming  issues 

@Account Closed only if I was blessed enough with millions I would but unfortunately not at this moment. I am striving to get to that point in the near future. 

@Chris Seveney thanks for the information. I love @Scott Carson videos they are very informative. I wish that video he posted wasn't freezing so much but I got a lot out of it. I am mainly looking  for assets that are in non-judicial states and owner occupied because my main goal is to allow home owners to keep their homes.

@Wayne Snell I was thinking that was the case for notes based on what I was seeing   In the market with my limited sample size. 

@Varinder Kumar that's is an interesting strategy and one I haven't thought about. Capital is a concern for me as well because without it I can not help homeowners. I will have look into this a little more.

I was just wondering what factors do my fellow investors use when evaluating a non-performing note to determine the offer for an asset on a tape? Also what price point should I typically expect for a note (i.e. Bidding 30% -40% of UPB) or is it merely negotiating the purchase price? There is a good chance my first offer will be rejected but I do not want to submit a offer that will not be taken seriously and prevent future business. Thanks for the help.