The Note Investor Podcast will guide you through the ups and downs of note investing, and teach you about all of the nitty gritty details of the business that other people won't talk about . Your host, Dan Deppen is a former aerospace engineer and product manager who transitioned away from cubicle life to full time note investing in 2018. Our website is www.fusionnotes.com, where you can subscribe to this podcast, comment, and find links to other information on note investing.
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April 21, 2026Episode 14531 min
How to Find Seller Finance Buyers
In the latest episode, Dan covers: ✅ How to structure your listing language to attract qualified buyers from the start ("seller financing available for deserving borrowers with a large down payment" works wonders) ✅ The best DIY platforms for finding seller finance buyers — Facebook Marketplace and Craigslist are still producing results ✅ How to find a great REO-specialist agent, even in markets you've never worked before ✅ Why pre-screening takes just 5-10 minutes and filters out 95%+ of problem borrowers before you go under contract ✅ A real deal breakdown: Dan's own recent Michigan REO — listed, 6 offers received, and closed in about two weeks with an 18% down payment and a 677 FICO borrower Dan also shares updates from his note portfolio, including a messy Wisconsin bankruptcy situation, a high-stakes California non-performing note, and news about the latest Note Accelerator cohort. This episode is a must-listen if you've ever found yourself stuck with a bad borrower — or if you want to make sure you never do. Call The Underwriting prescreening guide: https://calltheunderwriter.com/prescreen/ Call The Underwriter Register for the weekly Call The Underwriter onboarding call, every Thursday at 12 ET
April 7, 2026Episode 14433 min
2025 Seller Financing Market Report with Fred & Tracy Rewey
Fred and Tracy Rewey share their 2025 seller financing market data With $29.5 billion in new notes created and home sales at a 30-year low, the big story is resilience. They cover LTV trends, top states, the mom-and-pop vs. professional note creator breakdown, the impact of ITIN lending changes, and their outlook for 2026. Get the seller finance report: https://noteinvestor.com/notes-101/seller-financing-2025-industry-report/ Call The Underwriter Register for the weekly Call The Underwriter onboarding call, every Thursday at 12 ET
March 23, 2026Episode 14323 min
Insights from SquadUp Summit
In this episode, Dan Deppen breaks down the biggest takeaways from the 2026 Squad Up Summit—one of the largest real estate investing conferences in the country. With over 2,700 attendees and insights from top entrepreneurs, this recap covers what's actually working right now in creative finance and real estate investing. You'll learn how investors are adapting to changing market conditions, where new opportunities are emerging, and how tools like AI are beginning to transform underwriting, operations, and deal flow. Dan also shares real-world insights from his own business, including scaling Call The Underwriter, buying notes, and evaluating new opportunities like tax overages. What You'll Learn: How to adapt your investing strategy to shifting market conditions The rise of AI agents in real estate and underwriting Why non-QM lending and seller finance are growing What tax overages are and how investors are monetizing them Key business principles: lead generation, underwriting, funding, management, and scaling Hiring lessons and how to avoid costly team mistakes Why some strategies (like Airbnb) are struggling—and what's replacing them Timestamps: 00:00 – Intro & overview of Squad Up Summit 02:00 – Key speakers and major themes 04:00 – AI in real estate (agents, automation, bookkeeping) 07:00 – Building scalable systems (including CTU chatbot) 08:30 – Tax overages explained (real example) 14:00 – Emerging strategies: RV parks, co-living, affordability 15:00 – The 5-step framework for building a real estate business 17:00 – Adapting to market conditions (non-QM, seller finance) 18:30 – Investor mindset mistakes (self-imposed limits) 20:00 – Hiring and scaling lessons 22:00 – Final takeaways & current deals Call The Underwriter Register for the weekly Call The Underwriter onboarding call, every Thursday at 12 ET
January 27, 2026Episode 14225 min
Common Seller Finance Mistakes
In this episode of the Seller Finance and Creative Deals Podcast, Dan Deppen shares additional seller finance mistakes that didn't make the cut in his Cash Flow Expo session. He breaks down why "loose standards" and trying to be overly accommodating can backfire for both lender and borrower, how to work with an RMLO the right way (and why you don't want them telling you what you want to hear), and the red flags that show up when borrowers stall on documentation. Dan also explains why "no money in the deal" is fine—until you have no reserves—and why professional operators prioritize borrower quality, process discipline, and risk management. Register for Cash Flow Expo, Feb 5-7 Note Accelerator, starts mid Febrary Call The Underwriter Register for the weekly Call The Underwriter onboarding call, every Thursday at 12 ET
December 23, 2025Episode 14152 min
Non-QM Loan Deep Dive, with Steve Johnson
Dan and Steve discussed the launch of "Call the Mortgage Guy," an extension of "Call the Underwriter" that focuses on non-QM loans. Steve explained that non-QM loans cater to borrowers who don't meet traditional mortgage criteria, such as self-employed individuals and those with non-traditional income, similar to seller finance borrowers. Dan noted the growing popularity of non-QM loans, which have increased from 1-2% to over 8% of the mortgage market in the last 2 years, as lenders target underserved markets. The expansion into mortgage brokering, enabled by mortgage licensing in states like Colorado, Texas, and Florida, aims to address this growing demand. For more info on underwriting seller finance loans or get started on a deal go to www.calltheunderwriter.com For for non-QM loans in TX, FL and CO go to www.callthemortgageguy.com
December 16, 2025Episode 14034 min
Seller Finance, Done Right - With Caleb Christopher
In this episode of the Seller Finance and Creative Deals Podcast, Dan Deppen sits down with Caleb Christopher (CreativeTC) to unpack what actually goes wrong in creative finance deals—and how to structure transactions to avoid the most common (and most expensive) mistakes. They dig into a critical contract issue many investors miss: once you sign an agreement as the seller, you may not have a clean way out unless you've written in a seller exit clause tied to borrower qualifications. Dan and Caleb explain how to define those qualification standards upfront, why it matters for Dodd-Frank and "bank-grade" underwriting, and how skipping the right steps can turn a quick exit into a foreclosure-length nightmare. You'll also hear a practical discussion on: The real-world risk of due-on-sale in sub-to and wrap deals (and what you can do when it surfaces) Why "bank-quality" seller finance notes can sell near par—and why that matters The hidden problems with self-servicing and poor payment records Smarter liquidity strategies than balloons, including selling note partials If you're doing seller finance, wraps, or subject-to—and you want fewer surprises and more scalable outcomes—this episode is your playbook. Connect with Caleb: Creative TC - https://creativetc.io/ Caleb's Instagram - / fcalebchristopher For more info on underwriting seller finance loans or get started on a deal go to www.calltheunderwriter.com.
December 9, 2025Episode 13932 min
Buying and Managing Mortgage Notes, with Jamie Bateman
In this episode of the Seller Finance and Creative Deals podcast, Dan Deppen sits down with Jamie Bateman of Labrador Lending to talk all things mortgage note investing. Jamie shares how he transitioned from rentals and a background in title and mortgage into buying first-lien notes across the country, eventually building a note fund and team to serve investors. He breaks down how he thinks about geography, foreclosure timelines, and the biggest real risk in notes—what you don't know about the interior of the property. Jamie explains how Labrador now serves three types of investors—passive, hybrid, and active—through their income fund, done-for-you asset management service, and one-on-one mentorship plus community. They also dive into the niche of HUD HECM (reverse mortgage) deals as a pre-REO play, why deal flow has shifted since the 2010s, and how both Jamie and Dan are pivoting strategies, including Dan's approach of buying "broken" seller-finance notes and cleaning them up for institutional demand. This episode is a great fit if you're looking for ways to scale, simplify, or reposition your note investing in today's market. Want to create your own seller-financed notes? MAKE SURE YOUR NOTES ARE SELLABLE, VALUABLE, AND COMPLIANT: https://calltheunderwriter.com/ Are you Ready to work with Dan to learn how to invest in notes yourself? COMPREHENSIVE NOTE BUYING COURSE: https://www.notelaunchpad.com Connect with Labrador Lending Website: www.adversity2abundance.com Facebook: https://www.facebook.com/labradorlending/ Instagram: https://www.instagram.com/labradorlendingllc/ LinkedIn https://www.linkedin.com/company/labrador-lending/?viewAsMember=true Youtube: https://www.youtube.com/channel/UChYrpCUlqFYLy4HngRrmU9Q 3 Core Services Integrity Income Fund: labradorlending.com/passive-investors Asset Management Service: labradorlending.com/hybrid-investors Labrador Mentorship: labradorlending.com/investors/active-investors Connect with Jamie LinkedIn: www.linkedin.com/in/jamie-bateman-5359a811/ Twitter: twitter.com/batemanjames
October 28, 2025Episode 13837 min
Mark Monroe on Creative Seller Financing: Wraps, Lease Options, and Doing It Right
Mark Monroe—30-year investor and author of Creative Real Estate Investing—joins Dan to unpack the real mechanics of seller financing: when to use wraps vs. lease options, why performance deeds can backfire, and how to keep Subject-To ethical (and legal). Mark shares how he sources true win-win deals (including hospice-driven leads), structures low- or zero-down offers, and automates collections with servicers and VAs. They also dig into predatory tactics used by some investors, Dodd-Frank/S.A.F.E./RESPA realities for owner-occupants, and why compliance and underwriting protect both the borrower and your business. Connect with Mark: https://mark-monroe.com/ Join Mark's 180K+ member Facebook group: https://www.facebook.com/groups/395240491763831 Want to create your own seller-financed notes? MAKE SURE YOUR NOTES ARE SELLABLE, VALUABLE, AND COMPLIANT: https://calltheunderwriter.com/ Are you Ready to work with Dan to learn how to invest in notes yourself? COMPREHENSIVE NOTE BUYING COURSE: https://www.notelaunchpad.com
October 22, 2025Episode 13721 min
Simplifying Seller Finance
Seller finance compliance feels messy because multiple rule sets overlap and the gray areas are real. In this episode, I break down the essentials—Dodd-Frank Ability-to-Repay (ATR), TRID timelines, and the "Rules of 1, 3, and 5"—and show you how to keep deals simple, compliant, and sellable. Key takeaways Dodd-Frank ATR (the big one): If your borrower is an owner-occupant, you must make a good-faith determination they can repay (credit, income, debts, residual income). You want to underwrite anyway—this protects you and improves loan performance. TRID basics: Send a Loan Estimate (LE) ≥ 7 business days before closing and a Closing Disclosure (CD) ≥ 3 business days before closing. Disclosure reduces misunderstandings and defaults. Rules of 1 / 3 / 5 (why the myths persist): "1 per year": Only applies to natural persons selling their own primary residence (not investment deals or entities). Not the "do anything you want" rule most think it is. "3 per year": You can create up to 3 loans/year without involving an RMLO, but ATR still applies. Not Wild West. "5 per year": You can do up to 5 loans/year without TRID, but if you're already doing ATR with an RMLO, you'll typically do TRID too—there's no reason not to. Why follow ATR + TRID even when not strictly required: Better underwriting → fewer defaults Easier to sell (and at higher prices) to institutional buyers Enforceability if a borrower contests in court Costs are typically passed to the borrower at closing Servicing tip: For owner-occupied loans, use a third-party servicer. Compliance on servicing is even stricter, and you can contractually pass the monthly fee to the borrower. Resources mentioned 📄 One-Page Seller Finance Rule Guide (free) — quick reference you can keep on your desk 🤖 Note Copilot AI — my private GPT trained on 160+ sources (Note Launchpad transcripts, case studies, internal docs) to help you analyze, price, and operate notes in real time Events & shout-outs I'll be at Note Expo in Dallas, Nov 7–8 — great for networking (700+ people). Get your ticket HERE. Paper Trail Conference recap — smaller, intimate, lots of note creators Chapters (adjust timestamps after upload) 00:00 Intro & why seller finance feels confusing 01:10 Event updates (Note Expo, Paper Trail) 03:20 What is Note Copilot AI? 05:50 Seller finance compliance overview 06:30 Dodd-Frank ATR (what it really requires) 08:40 TRID timelines (LE/CD and why they help) 10:15 The 1 / 3 / 5 rules explained (and myths) 14:30 Why follow ATR+TRID even when not mandated 17:20 Servicing: why to outsource & pass fees 19:30 Wrap-up & how to get help Work with me / Get help Underwriting & compliance for seller-finance deals: Call The Underwriter Questions? dan@calltheunderwriter.com
October 14, 2025Episode 13631 min
The Conveyor Belt Method: Turn One-Off Deals into a Note Machine, with Eddie Speed
This episode features Eddie Speed, a nationally recognized authority in note investing, seller financing, and creative real estate strategies. Eddie shares insights into his company's focus on acquiring well-structured residential property loans and improving the note creation process through education and investor training. He discusses the origins and mission of NoteSchool, an industry-leading training platform that helps investors master the art of buying, selling, and managing notes. Eddie also previews an upcoming trade show highlighting how blockchain technology is transforming loan sales and enhancing transparency in real estate transactions. The conversation wraps up with details about Note Expo, one of the largest networking events in the note and seller-finance space, emphasizing its role in connecting investors, lenders, and innovators shaping the future of real estate finance. Note Expo is Nov 7-8 in Dallas, get your ticket here: https://noteschool.isrefer.com/go/ne/Fusion/ Want to create your own seller-financed notes? MAKE SURE YOUR NOTES ARE SELLABLE, VALUABLE, AND COMPLIANT: https://calltheunderwriter.com/ Are you Ready to work with Dan to learn how to invest in notes yourself? COMPREHENSIVE NOTE BUYING COURSE: https://www.notelaunchpad.com
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