Non-Performing Notes

I would like information on purchaseing non-performing notes. How to purchase? Where to find the best ones and any other information that you would like to share?

Thanks,
Pete Holbrook

How To Find Non Performing Notes

Hi Pete,

I believe the best way is to find a solid source to get you reo tapes in the area that you are looking for. The best way is to find one that can really perform and one that will put a tape together based on your specific property types desired, and what you are looking to pay. The source I use does this and it cuts down on alot of junk deals and saves a ton of time.

Google the words

“Debt broker”

Debt X is the biggest that i am aware of.

I love seeing the phrase “REO tape” or just the term tape when talking about bulk deals. Like anyone ships a tape anymore.

In the old days of computing, paper and then magnetic tape was a common way to store info. I suspect the term “REO tape” comes from the period when 9-track tapes where used with mainframe computers.

As a funny tangent, many folks who talk about tapes know even less about the data that is on the ‘tape’.