Charles J Mosely Jr on Real Estate
Some People Consider Real Estate Investing Similar to Buying a Boat When you get right down to it, buying a non-performing mortgage is like buying a boat; the two happiest days are the day you buy it, and the day you sell it! Investing in a non-performing mortgage note (NPN-NPL), and cashing out for a profit, are my two happiest days as a note investor. A non-performing note is basically a mortgage where the borrower has stopped paying which means you can buy it at a discount. You have heard the old saying in real estate, the profit is made when you buy. How true that is, especially in the note world! We have found that you have to take into account all the costs you will run into from the day you buy it, until the day you sell it, and use that to make sure you are not overpaying. If not, you can lose money; sometimes a lot, sometimes all of it. While there are some warm and fuzzy feelings experienced when you own the boat, like taking it out on the water for the first time, you are go...
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