Hey Everyone,With real estate equity fundraising slowing but private credit strategies booming (debt funds now grabbing bigger shares of originations per MSCI), I'm seeing performing notes emerge as a standout opportunity for 2026.Key trends I'm watching that could impact your note strategy:Investor loan defaults rising (especially fix-and-flip and multifamily debt maturities), creating more inventory for buyers like us who focus on seasoned, clean-paying 1st lien residential notes.​Yields holding strong at 9-12% for well-equitied performing notes, beating CDs by 2-3x while offering real downside protection.​Seller-finance & hard money surging amid tight institutional lending—great for secondary buyers targeting re-performing assets.​Liquidity improving via digital platforms, but smaller regional banks offloading non-core notes to meet capital rules (14% YoY sales velocity up).​Question for the group: With this shift toward debt over equity, are you buying more performing notes to hold for yield, or repositioning into workouts/NPLs?

What first steps, resources, or mindset shifts helped you the most when you were just beginning?

You can nail your acquisition price, execute the rehab flawlessly, and stay on budget -- but if buyer demand shifts while you're mid-project or holding, you're holding a property that no longer fits the market.

When the regulations tightened a couple of years ago, we temporarily shifted more focus toward direct mail while we refined our SMS strategy and made sure everything stayed compliant.As for platforms, I’ve been using Launch Control.

Do you regularly reassess your loan structure, or only when rates shift significantly?

Positive cash flow protects you when markets shift, repairs pop up, or vacancies happen.Key things to watch:Conservative rent estimatesAccurate expense projections (taxes, insurance, maintenance)A healthy DSCR if using DSCR loansInvestors who scale too fast on thin margins often get stuck when one property underperforms.2.

With tighter margins and shifting rates, are investors prioritizing stronger financing terms over slight price reductions?

I’ve seen a few lots where the deed mentions access but it’s not always very clear how that works in practice.Appreciate you sharing that local perspective. 

If the comps have already shifted to tenant-paid, RUBS is a free $470,000 in value creation.I underwrote this deal conservatively — stabilized NOI of $221,857 with no RUBS.

I am planning on shifting my focus to growing my own book of business within the next year.