The mortgage meltdown debacle of the last decade brought a unique opportunity in non-performing notes to the traditional note investment business – an opportunity most of the old school note experts did not take advantage of…
To this day I hear the “Senior Note Experts” with 30 years or more of experience recommending “extreme caution” to anyone asking their advice on pursuing the nonperforming note business.
They are absolutely correct in giving this advice to new note investors
One of my favorite Peter Fortunato quotes (and there are many) is when I overheard his answer to a student asking him what his thoughts were on the non performing notes business
Pete responded “Do you LIKE attorneys?? No? – then why would you even consider that litigious business???”
As usual – Pete hit it right on the head.
Another experienced investor friend put it this way – “Non- performing notes are NOT for the faint of heart” – also VERY true.
This business is the hardest thing I have ever done – but also, by far, the most profitable.
We started this non-performing note adventure in 2008 with years of serious study and a commitment to do whatever it took to realize the kinds of profits the experienced investors had realized. We traveled to every event (distressed debt, mortgage and servicing events, note conferences) and training around the country for years. We met and got to know the players and evaluated the good, the bad, and the ugly – developing key relationships with those that we grew to know, like, and trust.
We were searching for a niche for the small independent investor with limited funds and focused on non-performing notes secured by quality, owner occupied, SINGLE FAMILY HOUSES (with emotional equity) in good areas of the country that could be purchased for very small amounts of investment – usually 10 to 20 cents on the dollar. This is what we considered low risk “OPTION” plays – and we found them on JUNIOR liens which is a unique niche that the larger players do not play in.
We have mastered this amazing niche and are still very active in this market as of this writing – we purchased our latest pool of these notes earlier in 2019 and are actively working these opportunities.
The non-performing note business is the hardest thing I have ever done – but also, by far, the most profitable.
I make a very sincere and respectful offer to my senior note friends – join me in Las Vegas at our Papersource event on October 11-12. I will spend a half day going over this unique non-performing junior lien note niche – and if all of your questions regarding risk analysis, bad debt collection, bankruptcy, title, etc. are not answered – I will take as much time as needed afterwards to answer every one of your questions.
It is called “Mastering Real Estate and Note Investing – A Game Changer” – and we realize it is not a very humble title. We do not claim to know everything about the note and real estate investment business – far from it – but what we offer is to share the story of our own personal journey down the path to success in the real estate and note investment business as best we can.
Come join us…info and registration is at PaperSourceSeminars.com