In the last couple weeks I have gone through a number of tapes and have a few bids out. Next week I should find out if any of these deals are going to go. The number of assets I bid on was very low relative to the number that I looked at. This made me wonder if my buying criteria is too strict and if I should be making more bids. Upon reflecting on this I think there are plenty of assets available on the market and I can afford to be selective for now. Down the road I can always open things up if I think it makes sense to adjust my model. Here are examples of some of the assets I bid:
I’ve also been busy contacting asset managers. I haven’t found any pots of gold just yet, but the number of different opportunities I’ve come across has been interesting. For the foreseeable future I plan to stick to my model of buying first position non-performing notes where the borrower has negative equity in specific states. I’m not going to chase any squirrels. But my main takeaway there is there seems to be a wide range of opportunities to make money out there.
This week I’ll in Cape Coral Florida for Scott Carson’s Mastermind. This event will have 60-80 very serious and experienced note investors. I should be able to get access to some assets, and discuss strategy with the some of the best in the business. Hopefully I’ll see you there.