š¤ Pure San Antonio Pride of Ownership: Capturing Low-Risk Passive Cash Flow in Converse, Texas
Welcome back to the 50 Note Deals in 50 Days breakdown series! In this episode, Scott Carsonā"The Note Guy"ātakes us out to a booming, high-demand pocket of the San Antonio metroplex to review a rock-solid, performing first-lien mortgage note in Converse, Texas. If you have been looking for an incredibly secure, "set-it-and-forget-it" passive asset with a manicured pride of ownership and a stellar equity cushion, this case study gives you a complete operational blueprint.
Scott pulled up to this property himself just last Tuesday, confirming firsthand that the corner lot, massive backyard, and entire exterior are in pristine condition. You'll see the exact math behind acquiring this $168,000 legal debt balance at a deep discount for an all-in cost of $136,000. While its 6.7% to 8% yield serves as a highly reliable portfolio stabilizer compared to volatile assets like crypto, the true magic lies in the $32,000 built-in equity windfall waiting for you the second these long-term borrowers decide to sell or cash out!
š Key Takeaways & Episode Highlights
- The Converse Property Profile: A spacious 4-bedroom, 2-bath, 2,334-square-foot brick home built in 1997, featuring an oversized 8,300+ square foot corner lot in a highly manicured neighborhood near Randolph Brooks Air Force Base.
- Boot-on-the-Ground Verification: Scott personally walked and drove by the asset to verify its condition, confirming excellent structural care, a massive backyard, and absolute occupant pride of ownership.
- The Post-COVID Re-Performing Backstory: Originally financed in 2004 for $87,000, the borrowers fell behind during COVID and filed a Chapter 13 bankruptcy in late 2021 to get back on track. They executed a formal loan modification in March 2022 at a 4% interest rate, shifting the back payments into a long-term forbearance agreement.
- Flawless 4-Year Performance Record: The occupants have successfully sustained a perfect payment track record for over four years straight since their modification, proving their long-term stability.
- Clean, Positive Escrow Accounts: The property features a fully functioning, positive escrow setup managed by a third-party servicer, ensuring all local property taxes and insurance premiums are fully accounted for month after month.
- The High-Safety Investment Math: Buying the $168,000 unpaid principal balance (UPB) at 80Ā¢ on the dollar places the note purchase price at $134,400. Adding a standard $1,600 transaction fee creates an all-in cost of $136,000, netting an insulated 61% investment-to-value ratio against the home's $223,000 market valuation.
- Lien Lord Cash Flow vs. Landlord Headaches: Generating a steady $757.72 monthly P&I stream, this asset provides an immediate, hands-off passive yield without any of the negative cash flow or midnight maintenance stress of a traditional rental property.
š ļø Take Action & Partner with Scott Today!
Stop letting your self-directed investment capital sit idle on the sidelines waiting for the "perfect" complex deal. Take action right now:
- š© Submit an Asset Bid: Ready to review the clean payment history, check the collateral files, or partner up directly with Scott on this San Antonio note? Email scott@weclosenotes.com.
- š Schedule a Note Strategy Call: Review active note tapes, analyze deal spreads, or map out your private capital-raising goals with Scott at TalkWithScottCarson.com.
- š Claim Your Workshop Ticket: Learn the step-by-step master strategy to transition from a hands-on landlord to a hands-off "Lien Lord". Grab a virtual seat for our 2-Day Note Buying Workshop on August 29th and 30th for just $99 at NoteBuyingForDummies.com!
Watch the Original VIDEO HERE!
Book a Call With Scott HERE!
Sign up for the next FREE One-Day Note Class HERE!
Sign up for the WCN Membership HERE!
Sign up for the next Note Buying For Dummies Workshop HERE!
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