Hey All! Glad to be a part of the group!

Looking for some feedback from the group. When modifying a loan for a borrower, do you follow a general rule of thumb for the down payment, or is it handled on a case by case basis? Does anyone base it on a percentage of the full reinstatement amount?

This non-performing first mortgage was purchased in February of 2024 in Youngstown, OH in a pool of 13 loans. The property was valued at $40k. The 1st mortgage unpaid principal loan balance was $28,300.55. The loan was purchased for $3k. This discount was do to the property's condition, it being in OH (most legal cost & fees are non-recoverable in OH) and some owed property taxes. During the foreclosure process is when we realized that the property may be vacant and that this deal wasn't going to get resolved through the borrower. The goal at this point, was to get the property to the foreclosure sale and hopefully have it purchased by a third party at the foreclosure sale. It took a little over a year to get from the demand letter stage to the foreclosure sale. At the sale we placed a bid of $27,334. At the sale there wasn't any third party bidders, so the property reverted back to us. It took the county another 4 months to confirm the sale. At this point, in order to get our deed recorded, we had to pay all the owed taxes and the fees associated with recording our deed (post-sale cost). That amount was $8,880.84. It took the county another 2 months to record our deed. In February of 2026, we finally got our recorded deed. You need the recorded deed, to be able start the eviction process and get possession of the property (the REO). At this time we hired an REO management company, that handles are REO's. The REO management company sent an agent out to the property to determine if the property was occupied. The agent determined that the property was vacant, so the agent rekeyed and secured the property for us. Since the property was vacant, we didn't have to go through the eviction process. The eviction would have cost us another 2 months and $600. The property was full of junk and not in good condition. The agent hired a junk removal company to remove the junk. We asked the owner of the junk removal company if he was interested in purchasing the property as is (junk and all). He was interested and we agreed to a purchase price of $26,500. At this point, it really wasn't about making a profit. We just wanted to get our money out of the deal and be done with it. As a note investor, it becomes more about the note portfolio, than the deal itself. We sold the REO in April of 2026.

I’m thrifty and I like to set things up as efficiently as possible. I chose to create multiple email addresses to keep things separate and that might’ve been a bad choice but it’s work for the last decade. I’ve been using a free Zoho plan, but my primary account is nearly out of space. Many services are $6 to $7 per user. I could continue with Zoho I could switch to Google, or Microsoft 365 business basic. With either of these options, I would convert my three alternate email addresses to aliases use filters. Any preference or suggestion? I am looking at go high level, I’m not certain yet if they bundle an email platform in their ecosystem.

Hi! I'm here to learn mortgage note investing from all of you. I'm a wife, mom, dairy goat farmer, and nurse transitioning to a career in real estate. I have a real estate license and am the seller of a couple of houses on land contracts. I stumbled upon mortgage note investing while searching for loan management software for my land contracts and now here I am. I am in the info-gathering phase ... devouring a ton of information. Down the line, I would like to convert one of my land contracts to a mortgage and then sell the performing note to another investor seeking cashflow. For the next property that I seller finance, I will create a mortgage note against it from the outset. Does anyone have a suggestion regarding how far in advance one should set up an entity for buying notes? Any suggestions on naming such an entity? Any advice on next steps after consuming a boatload of information? It is easy to drown in the sea of information. I'm looking for a flotation device. Thanks for your time. Best, Wendy