Buy The Note Then Wait Until Its Sells?
Has anyone brought a deliquent note from the bank when the property is listed and just wait until the property sells then collect the spread of whats owed on the note versus what you paid for the note? Thanks
are you buying 1st or 2nds?
I believe it was John Schaub at a Miller - Schaub seminar many, many years ago who told of buying a note at a big discount from a second lender the night before the sale. John went to the sale and put in a bid that covered his note and when he got outbid, he collected the face value of the note.