Would you rather own the house or own the mortgage? Rick Allen and TJ Osterman compare rental property investing with mortgage note investing—and explain why the answer goes beyond the monthly payment.

Drawing on experience with both strategies, they debate appreciation, cash flow, leverage, maintenance costs, and the responsibilities of being a landlord versus a lienholder. They also explore borrower defaults, property management versus loan servicing, and the trade-offs between active and more passive investing.

Learn why some landlords convert rentals into seller-financed loans, why proper note structure matters, and how selling a mortgage note—or a portion of its payments—can create another exit option.

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Finding your next mortgage note investment is one challenge. Finding the capital to buy it is another.

In this episode of the Paperstac Podcast, Rick Allen and Brett Burky discuss creative funding sources for note investors, including home equity lines of credit, all-in-one mortgages, and financing secured by a life insurance policy.

Brett explains how he uses borrowed capital to purchase cash-flowing assets, then combines investment income with personal income to pay down the balance before repeating the process. He also shares a personal example of using part of a $50,000 loan to purchase a partial mortgage note with monthly payments.

Rick and Brett explore the risks alongside the opportunities, including borrowing costs, interrupted payments, and the importance of diversification. They explain why understanding the borrower’s story, reviewing payment history, and knowing who you’re buying from are essential parts of evaluating a deal.

Topics include:
• Alternative funding sources for mortgage note investments
• All-in-one mortgages and velocity banking
• Life insurance as collateral for financing
• Partial notes and monthly cash flow
• Building a portfolio through repeated purchases
• Due diligence and managing non-performing notes

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Buying or selling a wraparound mortgage note? Understanding the underlying lien, payoff process, and lien release is an essential part of evaluating the deal.

In this episode of the Paperstac Podcast, Rick Allen and TJ Osterman explain how wraparound mortgages work and discuss what happens when a seller-financed note has an existing senior loan. Rick walks through the escrow process described in the episode, including requesting payoff figures, coordinating lien releases, and handling delays before seller funds are released.

The conversation also explores substitution of collateral, partial releases for subdivided land, and why title research matters when buying mortgage notes. Whether you invest in performing notes, originate owner-financed loans, or sell land notes, this episode helps you understand the questions to ask when a wrap enters the transaction.

Topics include:

• Wraparound mortgages and lien position
• Underlying loan payoffs and lien releases
• Escrow coordination and seller funding
• Payoff expiration dates and daily interest
• Self-directed IRA custodian delays
• Substitution of collateral
• Partial releases for subdivided land
• Title research and note buyer due diligence

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