: Check for superior liens (like unpaid taxes) that could wipe out your interest.
: Review at least 12–24 months of payment history.
: This is a spreadsheet containing loan details like unpaid balance, interest rate, and payment history. how to buy notes and mortgages
: Notes are often sold at a discount (e.g., paying $35,000 for a $40,000 balance), which instantly creates equity and increases your yield.
: This is the most critical phase. You must verify: : Check for superior liens (like unpaid taxes)
: Ensure the property is worth more than the loan balance.
Buying mortgage notes allows you to "be the bank" by purchasing the debt secured by real estate. This strategy provides passive income through monthly principal and interest payments without the responsibilities of property management. : Notes are often sold at a discount (e
: Use online marketplaces like Paperstac or Note Trader, or contact banks and credit unions directly to find "off-market" assets.