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How to Get Started in Mortgage Note Investing (Breakdown) скачать в хорошем качестве

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How to Get Started in Mortgage Note Investing (Breakdown)
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How to Get Started in Mortgage Note Investing (Breakdown)

2. Start Your Free Account Today: http://pstac.co/ytpod As members of Paperstac we get a lot of people that are interested in how to get started in mortgage note investing but just have some questions before they get started. We’ve compiled a lot of the questions we’ve heard a lot over the years. Most of these are the questions someone new to mortgage note investing would ask. Questions that will be answered on the video: 0:00 Introduction 0:56 How does real estate and note investing differ? 2:41 Can someone that has never invested in notes get started? 3:49 What is the due diligence process? 7:23 Where do you find mortgage notes? 9:11 Different strategies for investing? 10:40 What are the possible exit strategies? 12:45 Where would you get education? 13:55 What are the worst case scenario? 16:23 What would you tell your previous self when getting started? Answers to the questions in written form: 1. Real estate investing and mortgage note investing are not too different. When you're investing in real estate your strategies might be to purchase a foreclosed house to fix and flip or turn into a rental property. With mortgage notes, you will be searching in a different pond for inventory. A lot of real estate investors might be looking in the same areas as a lot of other investors. However very few are considering purchasing mortgage notes to get a house back. There are different steps that need to be taken but the end goal is still the same, you are getting the house back. The process is different because unlike in the real estate market you are getting the house once it has gone to foreclosure, here you are getting the house before the foreclosure has ended. A lot of times you can step in and take over and finish the foreclosure. It is also unlike being a landlord. As a landlord you may have a property management company collecting monthly rental checks and sending the to you or you're collecting them yourself. As a mortgage note investor, you own the promissory note and are having a servicer collect the monthly mortgage payments and sending that you instead. 2. Someone that has never invested in real estate mortgage notes can invest as long as they understand the process and have got some form of education. It is always a preferable first step to invest in performing notes instead of starting with non performing notes. The process of owning a performing note is a lot simpler than owning a non performing note. Essentially you are stepping in and having your servicer continue to collect the payments on your behalf. The difference between performing and non performing is that with performing the mortgage is getting paid as with non performing the mortgage is not being paid. 3. The due diligence process will differ based on the investment strategy. First focus on the value. First goal of any investment is to reduce risk, the more you can do that the better you are going to be at making a buying decision. Establishing Value: Gather comps you can find on surround houses. Do this through the following websites 1. Zillow 2. Realtor Don't come up with exacts, focus on a range of what it could be. Think in terms of ARV (After Repair Value). Look for As-Is Value. This is not an exact science (assume that if the outside of the house looks bad the inside will look bad and visa versa). View The Payment History & Servicing Notes Step 1: Go through the payment history to be able to establish a story for the note. Your goal in this part is to try to learn about the borrower and their payment habits. If you are able to get 24 months or more of payment history you can get a good picture of their payment cadence. Going Through the Collateral File Verify that there is a copy of Note & Mortgage - most importantly the Note - this is your IOU. Mortgages are recorded in public record so there should be a record. If there isn't a note - make sure there is a lost note affidavit (have an attorney of that state look it over so it makes sense). More of the details of due diligence can be found here: https://support.paperstac.com/en/arti... 🛎️ For more mortgage note investing videos SUBSCRIBE to our channel: https://pstac.co/subscribe_on_youtube And press the bell icon to get a notification, when our new video will be published. Follow Us These Platforms: Youtube: https://pstac.co/youtube Facebook: https://pstac.co/facebook Twitter: https://pstac.co/twitter Linkedin: https://pstac.co/linkedin 🔈 SPEAKER : Rick Allen & Brett 👉 Checkout our podcast: https://pstac.co/podcast_on_youtube 👉Checkout our Snackable Series: https://pstac.co/snackable_series

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