📊 RESULTS ARE IN - here are the details & actual metrics for Round 2: Strong engagement and solid reasoning across the board. Most guesses clustered in the 25%–35% of UPB range, reflecting realistic risk pricing given vacancy, back taxes, and package dynamics. Several of you correctly anchored on tax liability + timeline risk as the things most dragging down the value. Actual purchase price: $3,000!! (~10% of the UPB) That comes in below most estimates, reinforcing how cheap you can pick up a small-balance, vacant 1st position loan with negative factors like taxes and long foreclosure timelines (especially as part of a package deal, this trade was a total contract of 10 loans for $79,172.00 sale price - 38% of UPB total) Closest guess (winner): @Dj Olojo with $7,075 (25% of UPB) - correct framework, even if the sale price surprised to the downside. What's ironic about this - DJ was the actual buyer of this NPL back in 2024! Looks like you got a better deal than you remembered 😜 Honorable mentions: - @Iván Terrero 30% of UPB with package logic - @Andrew Bogie - strong equity vs. tax offset analysis - @Nathan Trenery - wisdom-of-the-crowd approach On Today's call, we’ll break down: - Why this asset cleared at $3,000 - Where most investors overestimated value - How buyers think about minimum viable pricing on small-balance seconds - How this compares to pricing if the same asset were performing And for those that missed it - here was the original post: 📣 The Pricing Game — Round 2 🕹️ How to Play 1. Review the deal data below 2. Comment with your best guess for the final sale price 3. Optional: add 1–2 sentences explaining your logic 4. Closest guess wins the round 📂 Today’s Deal: Another REAL Closed Transaction Asset Type: Charged-Off, Non-Performing 1st Mortgage (Senior Lien, NPL)

Our first round of The Pricing Game has concluded! Actual purchase price: $32,211 (~53% of UPB) 🎯 Closest guess (the winner!): @Roman Bassovski , who came within ~$1,200 of the actual sale price. Honorable mentions to: @Jeff Vincent: $30,000 @Smitty Smith: $30,200 (45–50% range) Join Round 2 here 👈 And here is the original post: This is how you train your pricing instincts without risking real money. Your job: guess the final sale price as closely as possible. Most new investors struggle with one thing: “What do notes actually trade for?” This game compresses years of deal exposure into minutes. You'll learn to: • Price notes realistically • Understand how equity actually gets discounted • Start thinking like a buyer How to Play (Simple): 1. Review the deal data below 2. Comment with your best guess for the final sale price 3. Optional: add 1–2 sentences explaining your logic 4. Closest guess wins the round 📂 Today’s Deal: a REAL Closed Transaction Asset Type: Charged-Off, Non-Performing 2nd Mortgage HELOC (Junior Lien, NPL) Sale Date: 12/26/2023 Property Type: Single Family Home Location: Fort Washington, MD 20744 - Prince George’s County Property Fair Market Value: $424,500 1st Mortgage Payoff (Current Senior Lien): $175,608.46 2nd Mortgage (Unpaid Principal Balance, "UPB"): $60,449.90 Status Notes: • Subject asset is a Non-Performing Junior Lien • Charged off by the bank on 11/02/2022 • Subject Junior lien is behind a Current Senior (1st mortgage) • Sold to a member of the Mastermind Accelerator on 12/26/2023 in a package of 3 assets What do you think this note actually sold for? Leave your guess down below!

I purchased my first non-performing second-position HELOC in May 2024 through Fixnotes.com.The property is a SFR located in Luzerne County, Pennsylvania. There are two borrowers — a married couple working as handymen. Considering their trade, it was surprising that they couldn’t keep up with such a small loan. When I bought the note, the first mortgage was already in foreclosure by PNC Bank, so I initially assumed the process would take care of itself.The first lien payoff was about $30k, my second lien UPB was roughly $3,6k, and the BPO came in around $100k, showing strong equity in the property. To confirm, I hired someone through Craigslist to take exterior photos — the house looked well maintained, freshly painted, and clearly occupied. The Twist In August 2025, just days before the scheduled sheriff’s sale, the borrowers reinstated their first mortgage.The foreclosure auction was canceled, and suddenly I realized that the statute of limitations for my HELOC would expire in November 2025 — leaving me very little time to act. I started contacting attorneys licensed in Pennsylvania who would handle a small-balance second lien foreclosure.Out of roughly 20 inquiries, only one firm responded — LOGS Legal Group LLP, represented by Samantha Gable (and later by Heather Riloff). After weeks of document review and back-and-forth emails, they agreed to represent my company. Challenges and Lessons English is not my first language, and my accent makes phone conversations difficult — people often misunderstand me.That made direct communication with the borrowers or their attorney nearly impossible.I even tried hiring a Service companies, but they required full servicing rights to the note, which made no sense financially for such a small UPB. In September 2025, I paid the retainer, and the firm started preparing demand letters and (as I think) pre-foreclosure notices. However, instead of filing for foreclosure — which was the only realistic way to preserve my rights before the November 4, 2025 statute of limitations deadline — Attorney Heather Riloff proposed proceeding as a “debt collection” or “breach of contract” action under the promissory note.