How to Avoid Going Broke Buying Real Estate Notes
October 20, 2011 by Greg Gehlen · 1 Comment
The most important thing you need to know how to do as a note buyer or investor is to properly analyze a promissory note investment when it first comes into your office so that you can either pursue the deal or pass quickly.
Let me show you an overview of my 6 step analysis that I go through on every note we look at. Read more
Note Buyer Success Story
February 3, 2010 by Greg Gehlen · Leave a Comment
Canyon Capital has been added to the Directory of Owner Financed Note Buyers. Discover a new investor listing and read how the owner went from start-up note broker to note buyer in just a few short years.
Note Investor (NI) recently interviewed Greg Gehlen (GG) to learn more about his note buying programs. Canyon Capital specializes in mobile homes on land and pays fees to cash flow brokers for the purchase of notes, trust deeds, and contracts.
NI: What is the current focus of your company?
GG: We buy seller-financed first-position lien notes in the Western U.S. Our primary focus is buying partials to still keep deals together that may not otherwise work.
NI: How did you get your start in the note business?
GG: In 2004 I wanted to buy or start a business and after I looked at a number of existing businesses I decided the best option for me would be to start a business. I attended Noteworthy here in Las Vegas and found a wealth of great information (people and materials) at the conference to get started in the paper business.
NI: What unique benefits does your company provide?
GG: We are able to make decisions quickly on files and we also buy notes that many people are not interested in – mobile homes on land.
NI: What type of notes or transactions will your company consider funding?
GG: We buy notes in the Western U.S. which includes WA, OR, CA, AZ, NV, NM, UT, CO, MT, ID, and WY. The type of note we prefer is mobile homes on land (no park paper). We will look at notes up to $150,000 but prefer partials under $50,000. We like to look at credit if possible but down payment, a solid pay history and property value are more important to us.
NI: What type of deals would just waste your time?
GG: New notes with small down payments and poor credit are not files we will fund.
NI: What do you consider the best methods for finding cash flow notes? Read more
