Podcast
Real Estate Note Investing
Hosted by FIXnotes · EN
FIXnotes | Non-Performing Note Investing
Welcome to FIXnotes — the go-to podcast for real estate investors ready to level up by becoming the bank. Hosted by Robert Hytha and industry experts, we dive deep into the world of mortgage note investing — especially non-performing seconds. Learn how to source, analyze, buy, and resolve distressed debt while helping homeowners and building lasting wealth. Whether you're scaling a fund or buying your first note, you'll get actionable strategies, real-world case studies, and insider insights to systematize and grow your note business. It's time to cash flow without tenants, toilets, or trash.
12episodes
Episodes
Newest firstAll episodes
Episode 50: Loan Servicing
2w ago00:05:23Tap to summarizeMost note investors think servicing is just someone collecting payments — but choosing the wrong plan or the wrong servicer can cost you money, slow your resolutions, and create compliance risk you didn't see coming. In this episode, we break down how to choose a loan servicer and which plan actually gets results.🔍 What you'll learn:✅ Why self-servicing mortgage loans creates legal liability — and why a licensed servicer is worth every dollar✅ How to compare servicer fee structures — and why monthly minimums matter most when you're starting out✅ Why full-service non-performing plans sound convenient but rarely produce the resolution results you need✅ How the client-managed plan keeps the servicer handling compliance and administration while you stay in control of the work that creates value✅ Why having relationships with more than one servicer gives you geographic flexibility and a backup when you need itThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 49: Selling the Note
3w ago00:05:30Tap to summarizeMost note investors focus on the resolution — but knowing how and when to sell the loan itself is what keeps your capital moving and your returns compounding. In this episode, we break down the two types of note sales and what drives the price on each one.🔍 What you'll learn:✅ Why reducing uncertainty is the single most impactful thing you can do before selling a non-performing loan✅ Why active litigation on a loan hurts your sale price — and why fresh non-performing loans command more from buyers✅ How seasoning a reperforming loan for six to twelve months of consistent payments maximizes what a buyer will pay✅ The tradeoff between institutional buyers who move fast and self-directed IRA investors who pay more✅ Why velocity — recycling your capital quickly — matters as much to your overall return as the profit on any single dealThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 48: Borrower Bankruptcy
4w ago00:05:25Tap to summarizeMost note investors don't think about bankruptcy until it happens — but knowing how it affects your lien before you buy a loan with an active filing is what keeps a manageable situation from becoming an expensive surprise. In this episode, we break down what borrower bankruptcy means for your position and what to do about it.🔍 What you'll learn:✅ Why the automatic stay stops all collection activity the moment a borrower files — and what you cannot do while it is in effect✅ How a Chapter 7 discharge eliminates personal liability but leaves your lien on the property intact✅ Why Chapter 13 is the bigger risk for junior lien holders — and how a lien strip can wipe out a second mortgage entirely✅ Why only one third of Chapter 13 plans reach discharge — and what a dismissal means for a lien that appeared to be stripped✅ How to use PACER and Schedule D to research any active bankruptcy and monitor your position through the caseThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 47: The Foreclosure Process
Jul 900:05:48Tap to summarizeMost note investors hope foreclosure never comes up — but if you haven't underwritten for it, you don't actually know what you bought. In this episode, we break down how the foreclosure process works and why understanding it makes you a better investor before you ever need to use it.🔍 What you'll learn:✅ Why judicial versus non-judicial foreclosure states have a direct impact on your timeline and your internal rate of return✅ The difference between monetary and non-monetary defaults — and which one drives almost every foreclosure in the secondary market✅ How the foreclosure sequence unfolds from demand letter through public auction and trustee's deed✅ Why involving an attorney early often produces a resolution before foreclosure ever needs to advance✅ How to manage attorney costs when your goal is leverage rather than a full foreclosure proceedingThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 46: Deed in Lieu of Foreclosure
Jul 200:05:01Tap to summarizeMost note investors treat a deed in lieu as a simple handshake — but accepting a deed without doing the right homework first can leave you holding a property full of surprises. In this episode, we break down when a deed in lieu makes sense and what to verify before you ever accept one.🔍 What you'll learn:✅ Why a title report is the first thing to run before accepting any deed — and what happens if you skip it✅ How to assess property condition before you take title so there are no surprises after you record the deed✅ When a short sale is the smarter path and when a deed in lieu is the right call✅ How a preemptively signed deed in lieu can reinforce a borrower's commitment to a payment plan✅ Why lining up a buyer before you accept the deed can eliminate the transfer entirelyThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 45: Managing a Short Sale
Jul 100:04:54Tap to summarizeMost note investors see a short sale as something that just happens to them — but as a lienholder you have more control over the outcome than you might think. In this episode, we break down how to manage a short sale from the first borrower conversation all the way through to a clean lien release.🔍 What you'll learn:✅ Why a short sale is almost always a better path than taking back the deed yourself✅ How to read a HUD settlement statement and spot where the money is going before you agree to anything✅ Why your written approval is required to close — and how to use that leverage in the negotiation✅ How to negotiate with a borrower's attorney professionally and why it is often more efficient than dealing with the borrower directly✅ Why patience in a changing market can turn a low settlement offer into a full payoffThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 44: Negotiating a Discounted Payoff
Jun 1800:05:06Tap to summarizeMost note investors know a discounted payoff sounds simple — but without the right language and the right structure, you leave money on the table or let a borrower stall indefinitely. In this episode, we break down how to negotiate a lump sum settlement that works for both sides.🔍 What you'll learn:✅ Why discounted payoffs are reserved for negative equity situations — and the exact language to use when a borrower with equity asks for one✅ How waiving arrears and late fees creates a meaningful concession without reducing the principal balance✅ Why whoever speaks first with a number loses — and how to let the borrower's reaction guide the negotiation✅ How to verify the source of funds before accepting any settlement — and why a property sale can change everything✅ Why releasing the deficiency balance at closing is the right way to end every discounted payoffThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 43: Structuring a Loan Modification
Jun 1100:05:07Tap to summarizeMost note investors know a loan modification is the goal — but knowing how to structure one that the borrower can actually stick to is what turns a non-performing loan into a reliable cash flowing asset. In this episode, we break down the modification structures available and how to choose the right one.🔍 What you'll learn:✅ When a fully amortized modification makes sense — and why thirty years is the reasonable cap on term✅ How an interest-only modification keeps payments low enough for a struggling borrower to actually afford them✅ Why a step rate structure aligns both sides toward the same goal — getting the loan paid off sooner✅ The five things every modification agreement needs to include before it goes to the borrower for signature✅ How showing a borrower the per diem rate builds good faith and gets documents signed fasterThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 42: Resolution Strategies Overview
Jun 400:05:51Tap to summarizeMost note investors know they need a resolution — but knowing which one fits the situation in front of you is what separates a smooth exit from a drawn-out loss. In this episode, we walk through every path available to resolve a non-performing loan and when to use each one.🔍 What you'll learn:✅ Why three questions — what happened, where are you now, and what do you want to do — anchor every resolution conversation✅ How a loan modification turns a non-performing loan into a cash flowing asset both sides can live with✅ When a discounted payoff or short sale gets you to the finish line faster than any other option✅ What a deed in lieu of foreclosure is and why title review is essential before you accept one✅ Why foreclosure is the last resort — and why having it ready often means you never have to use itThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →Episode 41: Researching Property Taxes
May 2800:05:13Tap to summarizeMost note investors check the mortgage but skip the one obligation that sits in front of every lien on the property. In this episode, we break down how to research property tax status before you close and why getting it wrong can cost you your secured position entirely.🔍 What you'll learn:✅ Why property taxes sit senior to every mortgage lien and what happens when they go unpaid long enough✅ Why first lien investors must always check taxes — and when second lien investors need to pay closer attention than usual✅ How to pull current tax status directly from the county website and why a dated screenshot belongs in every due diligence file✅ The difference between tax lien states and tax deed states — and why the county process determines your timeline and your risk✅ How delinquent taxes reduce your effective equity and why a discrepancy from what the seller represented should change your offer priceThis program is for informational purposes only and should be independently verified before taking action.
Transcribe →