Is it a valid strategy to invest in performing first position underwater notes (where the borrower owes more than the home is worth)?

Quote from @Barbara Johannsen: Hey BP Community 👋I’m a note investor looking to acquire non-performing residential mortgage notes (1st position preferred).

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Property-level trackingYou want something that tracks income, expenses, and performance by individual property, not just in bulk.

The hard money lender at ten percent is not accurate.

@Reggie SmithRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

S.Mpls has a whole kaleidoscope of areas and performance in it from total trash areas to uber nice top-shelf, and everything in between. 

Here are just a few of the reasons why:Accurate financial reporting: By tracking your income and expenses, you'll be able to generate accurate financial reports that show you how your properties are performing.

You'll want to find one that is just a local company and ask for proof they are setup to handle Class C & D neighborhoods/properties/tenants.Read on for some copy & paste advice about this:Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Hey all – curious to get your perspective on this.
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