Whole Loan Notes

If you’re holding a seller-financed mortgage note—whether it came from financing a buyer, carrying back a seller carry note, or converting equity into monthly payments—the first question you’re probably asking is: “How much will a note buyer actually pay me?” Not the theoretical answer.Not marketplace hype.Not the “up to 97% of UPB!” nonsense plastered across

For almost 16 years, I’ve watched investors buy distressed paper the wrong way. They look at UPB, slap on a discount, throw out a “safe bid,” and pray the numbers magically work. That’s not underwriting.That’s gambling. If you want to survive — and profit — in the distressed mortgage note market of 2025, you must

Buying mortgage notes is one of the most misunderstood investment strategies in real estate. The internet is full of recycled advice, half-baked YouTube tutorials, and content written by people who have never closed a single note transaction. This guide is different. I’ve spent nearly two decades buying, brokering, analyzing, servicing, restructuring, settling, and selling residential