Note Investing Pain Points
Good Morning everyone, this is Chris Seveney of 7E Investments and The Good Deeds Note Investing Podcast with My Morning Drive where I talk Note Investing. Hope you're all doing well. Today I wanted to just talk about is what's your biggest pain point in note investing, whether you're just getting started, you've been doing this for 20 years. What's the one thing that you either struggle with or something that kind of drags you down or takes a lot of time to do.
We all have them and overcoming them is always challenging, but one of the ways to do that I think is by communicating with others and people in this group and trying to figure out ways, problems and solutions to solve, solve these pain points.
Whats My Pain Point In Note Investing
For me, I'd say to that I struggle with from time to time are deed recording and insurance and chasing down and make sure either the deeds have been recorded, especially on the contract for deeds or assignments of mortgage have been recorded.
Assignments and land contracts in certain states need to be recorded. Tracking that and where they are at is challenging. And I use Orion for my document storage and they send me a weekly report - which by the way, if anyone uses orion, is something that you can ask for and they'll send you. While I still contract this out, it's still a pain point for me. And then the other is insurance. I use JB Lloyd and for the assets that borrowers don't have the insurance on, but where they do have insurance on them, it's always making sure that they keep up with it, that you get the notices as well as certain assets.
I may just keep the forst place insurance with Madison because it might be more cost effective and just knowing which asset, where it's covered at what time. When you get to, a large portfolio of assets in your note business - say over 20, just trying to juggle them and make sure that you're protected and covered.
What is Your Pain Point In Note Investing
Making sure that you've got documents recorded and insurance on the property are critical as part of every business. So just curious, with everyone out there, what is your pain point? What are the things that you struggle with on a daily basis or you're looking for assistance on Because again, as part of these groups, I think people can help each other out. And I'm curious if somebody has got systems or ideas to help me keep better track of these things. Thank you. Hope you all have a good day and talk to you tomorrow.
