34 min
Finding and Buying Second Mortgage Loans with Daphne Wilson Multifamily Insights
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- Investing
Mortgage note investing is one of the more intriguing passive real estate strategies for investors. Daphne Wilson is a pro at finding and buying second mortgage loans. She’s devised a strategy that allows her to buy for pennies on the dollar and create a win-win situation for borrowers. She is the founder of Bell Financial and on this episode, she shares her strategies to find and buy notes and get a delinquent borrower current on their payments.
Partner: Download a Free Sample Apartment Deal Package
Key Market Insights
Mortgage note investing is real estate without property management Homeowner pays the investor instead of the bank Notes are available through note exchanges, note brokers, and organizations Where to find notes to purchase: LoanMLS and ExchangeLoans First position loans are senior liens Second position loans are junior liens, usually less than the senior loan Buys second mortgages, these are typically for home renovation loans Spends $2,000 to $8,000 per asset Unpaid principal of $25-$60k for non-performing notes Banks would rather have bad loans off their books than try to collect the full amount owed Strategy: Buys delinquent 2nd mortgage behind a current 1st mortgage To get borrowers current on their mortgage, create a solution about the borrower Use the arrears to create leverage Spend 4-5 hours per month on note investing business When purchasing a non-performing asset, you build a relationship Arrears are the amounts that have accumulated because of missed payments The 2008 market correction fueled the second mortgage investing space
We’re going to jump right into the bullseye round, right after this quick word from our partner.
Partner: Check out the Northstar Real Estate Conference on Sept. 21 and 22
Bull’s Eye Tips:
Winning Your Market: Engaging with other investors
Tracking Market Changes: Reaching out and interacting
Daily Habit: Meditation
Resources:
LoanMLS.com
ExchangeLoans.com
Digital Resources:
Note Dashboard
Tweet This:
“In 4 years I have never had to foreclose on a buyer”
Places to Grab a Bite:
West Palm Beach - Darbster
Connect with Daphne:
Instagram: daphnerwilson
Website: Mortgagenoteinvesting.info
Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.
Mortgage note investing is one of the more intriguing passive real estate strategies for investors. Daphne Wilson is a pro at finding and buying second mortgage loans. She’s devised a strategy that allows her to buy for pennies on the dollar and create a win-win situation for borrowers. She is the founder of Bell Financial and on this episode, she shares her strategies to find and buy notes and get a delinquent borrower current on their payments.
Partner: Download a Free Sample Apartment Deal Package
Key Market Insights
Mortgage note investing is real estate without property management Homeowner pays the investor instead of the bank Notes are available through note exchanges, note brokers, and organizations Where to find notes to purchase: LoanMLS and ExchangeLoans First position loans are senior liens Second position loans are junior liens, usually less than the senior loan Buys second mortgages, these are typically for home renovation loans Spends $2,000 to $8,000 per asset Unpaid principal of $25-$60k for non-performing notes Banks would rather have bad loans off their books than try to collect the full amount owed Strategy: Buys delinquent 2nd mortgage behind a current 1st mortgage To get borrowers current on their mortgage, create a solution about the borrower Use the arrears to create leverage Spend 4-5 hours per month on note investing business When purchasing a non-performing asset, you build a relationship Arrears are the amounts that have accumulated because of missed payments The 2008 market correction fueled the second mortgage investing space
We’re going to jump right into the bullseye round, right after this quick word from our partner.
Partner: Check out the Northstar Real Estate Conference on Sept. 21 and 22
Bull’s Eye Tips:
Winning Your Market: Engaging with other investors
Tracking Market Changes: Reaching out and interacting
Daily Habit: Meditation
Resources:
LoanMLS.com
ExchangeLoans.com
Digital Resources:
Note Dashboard
Tweet This:
“In 4 years I have never had to foreclose on a buyer”
Places to Grab a Bite:
West Palm Beach - Darbster
Connect with Daphne:
Instagram: daphnerwilson
Website: Mortgagenoteinvesting.info
Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.
34 min