Loss
I lost $4,400 without ever owning a note
Worth writing down because everything I'd read about this strategy assumes you get to the closing. A seller was breaking up a small tape and I bid on three files out of it. To mov…
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Non-performing note buying means purchasing mortgage notes where the borrower has stopped paying, acquiring defaulted debt at a steep discount to its face value.
Log in to followWorth writing down because everything I'd read about this strategy assumes you get to the closing. A seller was breaking up a small tape and I bid on three files out of it. To mov…
I've been getting my license and doing paperwork all year, so this was the one thing I did with actual money in 2026. A guy who buys small pools locally was breaking one up and ha…
Bought a first lien in a judicial state in early 2024. Unpaid balance $96,300, note rate 4.875%, payment $711, borrower 14 months down. Single family three bed one bath, drive-by…
Paper notes confused me for months, so I bought the smallest thing I could find that still had real collateral behind it. Note balance $27,400, last payment mid 2022, small two be…
I bought one note last year to find out whether I could do this at all. UPB $88,400, arrears $14k, paid $41k. Small three bedroom in an older inner-ring suburb, occupied by the or…
Closing this one out at month 11 because the payoff funded last week and I want the numbers down while they're accurate. The file. 2004 origination, note rate 5.25%, unpaid balanc…
Construction is my background, so I understand structures better than I understand liens, and I proved it. The note was a second mortgage, $31k balance, on a 1,400 square foot hou…
I do renovations, so when a small note came up on a 1960s three bed that needed a kitchen and a roof, I looked at it as a way into the house at a price no wholesaler would give me…