What we purchase
Notes, judgments and liens.
We purchase secured and court-ordered payment instruments for our own account, in transactions from $500,000 to $30 million. Below is what we buy, what we look for, and what generally falls outside our range.
I — Real estate notes
Trust deeds, mortgages and carry-back paper.
Full or partial purchase of privately held notes secured by real property, whether the payor is current, behind or in default.
What we buy
- First and second deeds of trust and mortgages on residential, multifamily, commercial and land parcels
- Seller-financed and owner-carry notes created on the sale of a property or a business
- Performing, sub-performing and non-performing notes, including notes in default or foreclosure
- Land contracts and contracts for deed
- Business notes secured by business assets, with strong payment history and guarantees
- Partials — a fixed number of upcoming payments — and pools of notes
What we look at
Lien position, the balance against the value of the collateral, the payment history and the payor's credit, the remaining term and any balloon, the property type and occupancy, and the quality of the documentation. Notes with market-rate terms, twelve or more months of on-time payments and conservative loan-to-value ratios earn the smallest discounts; non-performing notes are priced on the collateral rather than the payment stream.
Generally outside our range
- Unsecured personal IOUs between family members or friends
- Instruments below $500,000 in balance, except selectively and by referral
- Consumer debt portfolios (credit card, medical, retail) — we do not purchase or collect consumer receivables
- Notes whose existence or chain of title cannot be documented
II — Court judgments
Money judgments you have won but not been paid.
We purchase judgments outright by assignment. You receive a single payment; we take on the enforcement, the waiting and the risk.
What we buy
- Final, unappealed money judgments against businesses, in California and sister states
- Judgments against individuals arising from commercial, real estate and business matters
- Judgments secured by a recorded abstract against real property
- Renewed judgments and judgments approaching a renewal deadline
- Portfolios of judgments held by lenders, landlords, contractors and receivers
Research before the offer
Before we make an offer on a judgment, we investigate the debtor at our expense: real property, business interests, employment and other indicators of collectability. We share our conclusions with you whether or not we proceed — a written finding you can use however you choose.
How the transfer works
A judgment is transferred by an Acknowledgment of Assignment of Judgment, signed and notarized by the judgment creditor and filed with the court. Once filed, we become the assignee of record. A California judgment is enforceable for ten years from entry and may be renewed; commercial judgments accrue interest at ten percent per year. Judgments against individuals on certain consumer or medical debts are subject to reduced-rate and renewal rules, which we take into account.
Generally outside our range
- Judgments still subject to appeal or a pending motion to vacate
- Consumer-debt judgments (credit card, medical, personal loans) purchased in bulk
- Family-law support orders and criminal restitution orders
III — Liens & instruments
Recorded claims against real property.
Liens that are valid, recorded and enforceable but that you would rather not wait to collect.
What we buy
- Judgment liens created by a recorded abstract of judgment
- Mechanic's liens and stop-payment claims on California projects — these run on short statutory clocks, so early contact matters
- Association (HOA) assessment liens held by associations or their assignees
- Other recorded payment instruments secured by real property, including partial interests in notes and deeds of trust
What we look at
Whether the lien was recorded correctly and on time, its priority against other encumbrances, the equity in the underlying property, and the practical path to payment — a refinance, a sale or an enforcement action. We will tell you plainly if a lien has a defect that limits what we can pay.
IV — Portfolios & partials
Pools, partial interests and special situations.
We are equally comfortable with a single seven-figure instrument and a pool of smaller ones that together fall within our range. Estates, receiverships, fund wind-downs and lender exits are situations we understand.
A partial purchase — buying a defined number of upcoming payments and returning the note to you afterward — is often the right answer when you need a specific sum rather than a full sale. We will price both alternatives so you can compare them side by side.
