i just finished a 2-day workshop with pete fortunato where he taught some sophisticated real estate concepts pertaining to real property and notes. he did transactions where he "walked" notes from one property to another. it sounded something like the portable mortgage the govt is considering. i have a book from the class, so I'll have to review the paperwork for this transaction to try to understand how he made it work. but has anyone ever heard of (or did) this before? In sum, he moved a mortgage from one house to another to continue paying the same note even though it was associated with different properties.

Let's get things started off right with a post about you & your goals in the industry. Make a reply below and tell us: - What's your professional background - How you heard about note investing - Why you'd like to learn - Where you're looking to go with your business Then like & respond to one of your new colleagues post to start earning points to move up the leaderboard (and get a chance to win our monthly contest).

Good Morning, I intend to bring this question to the Open Office Today. But I'll also ask it here. There is currently a RAMs tape (115983) that has REOs on it. What are some considerations for bidding on REOs? How does it work? What do we base the bids on? I've only purchased performing 1st liens in the past so I'm ignorant about bidding on REOs, but I see a few REOs in Minnesota and since I'm located in Minneapolis, these are of interest. tia

We had an awesome Expert Session call in the Mastermind yesterday learning how to turn Unsecured Debt into Secured Debt with Judgments. Very cool topic & a great speaker - recording is here for our top-level members. And in 30 minutes we're going live with our bi-monthly community chat! Everyone is invited, see you at 3pm EST!! https://www.skool.com/live/JscN95TDrXD

My SDIRA purchased this reperforming 2nd mortgage back in 2023 on a property in Chicora, PA. Shortly after I purchased the mortgage, I sold a Note Partial to one of my investors. Here are the Deal Numbers: - Property FMV: $170k - 1st Mortgage Balance: $68K (Current) - Note Purchase Price: $32,002.88 (Purchase Yield 14%) - 2nd Mortgage Loan Balance Purcahsed: $36,002.88 - Borrower Payments Made: 11 - Borrower Payments Purchased: 349 - Monthly Loan Payment: $400.00 - Current Interest Rate: 12.90% - Note Partial Sold: $14,982.70 (Purchase Yield 10%) - Note Payments Sold: 48 - Monthly Payment Sold: $400.00 I then took the $14,982.70 from the note partial sale & combined those funds with other funds in my SDIRA, $18,402.27. My SDIRA then purchased another reperforming 2nd mortgage on a property in Florence Township, NJ. Here are those Deal Numbers: - Property FMV: $550k - 1st Mortgage Balance: $234K (Current) - Note Purchase Price: $33,384.97 (Purchase Yield 13%) - 2nd Mortgage Loan Balance Purchased: $45,294.80 - Borrower Payments Made: 13 - Borrower Payments Purchased: 227 - Monthly Loan Payment: $415.98 - Current Interest Rate: 9.0% The thought process was to keep my investor happy, and to keep idle money in my SDIRA working for me. All tax free in my Roth SDIRA.