Buying or selling mortgage notes involves plenty of documents, data, and moving parts. The new Paperstac platform brings more of that work into one place—and Rick Allen and TJ Osterman are here to walk you through it.

In this episode, Rick and TJ introduce timed auctions, easier loan uploads, and an AI-powered data room that organizes collateral files and answers questions with links to the source documents. They explain how data review helps buyers and sellers spot discrepancies, review suggested corrections, and track changes throughout a transaction.

The conversation also covers mortgage note price predictions, the Paperstac Trade Desk, institutional trading, white-label marketplaces, and due diligence document ordering. Rick and TJ close with a look ahead at personal AI assistants in development and their potential to help users keep trades moving.

Whether you’re a longtime Paperstac user or exploring the platform for the first time, this episode offers a practical look at the new tools and how they fit into your note business.

Topics include:
• How timed auctions work and what happens after an asset is awarded
• Moving existing assets to the new platform
• Uploading loan tapes and organizing collateral documents
• Using AI to ask questions about loan files
• Finding data discrepancies before closing
• Pricing notes and managing larger portfolio trades
• What’s next for Paperstac’s AI tools

Explore the new platform at https://paperstac.com.

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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

Explore mortgage notes at https://paperstac.com

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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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Real estate investors already have one of the hardest note-investing skills: understanding the collateral.

In this episode, TJ Osterman and Rick Allen break down why the jump from real estate investing into mortgage notes can be a natural next step for wholesalers, flippers, landlords, and investors looking for another tool in the toolbox. They cover how real estate experience helps with valuing properties, reading neighborhoods, planning exits, and underwriting the downside if a note goes non-performing.

They also dig into what real estate investors still need to learn: borrower stories, payment history, note terminology, servicers, attorneys, boots-on-the-ground teams, and how performing and non-performing notes behave differently.

TJ and Rick also share stories from their own transition into notes, including early low-balance non-performing deals, missed opportunities, seller-financed exits, land notes, and why owner financing can create new options for investors who already know how to source real estate deals.

If you are a real estate investor wondering whether mortgage notes belong in your strategy, this episode gives you a practical starting point.

Topics include:

• Why real estate investors have an advantage in note investing
• Understanding collateral, value, and exit strategies
• Performing vs. non-performing notes
• Using notes as another tool instead of an all-or-nothing pivot
• Turning rentals into seller-financed notes
• Why live deal review is one of the best ways to learn
• How Paperstac can help investors study, compare, and source note opportunities

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How is artificial intelligence changing mortgage note investing and real estate?

In this episode of the Paperstac Podcast, Rick Allen and TJ Osterman break down practical ways note investors can use AI tools such as ChatGPT, Claude, and Gemini to save time, improve decision-making, and operate more efficiently.

They explore how AI can help investors:

• Research unfamiliar topics and understand complex note terminology
• Write clearer emails and stronger mortgage note listings
• Analyze loan documents, payment histories, servicing notes, and collateral files
• Review assignments, title documents, and potential gaps in the chain of title
• Evaluate nonperforming mortgage notes and possible loan outcomes
• Automate everyday tasks using email, Slack, Asana, Google Drive, and other business tools
• Build an AI assistant that functions like a digital chief of staff

Rick and TJ also share how Paperstac is incorporating AI-powered document organization, data extraction, and loan-file analysis into its mortgage note trading platform.

Whether you’re an experienced note investor or just learning how to buy and sell mortgage notes, this conversation offers practical ways to begin using AI without becoming overwhelmed.

The key takeaway: start small, ask questions, and always verify the results.

Learn more about buying and selling mortgage notes at https://paperstac.com.

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Pricing a mortgage note is not just about picking the highest number. It comes down to seller motivation, market timing, buyer demand, asset quality, and how quickly you need to move.

In this episode of the Paperstac Podcast, TJ and Rick Allen break down how sellers should think about pricing expectations when listing notes, why some assets move quickly while others sit, and how the trade-off between speed and price can shape the entire transaction.

They also discuss Paperstac’s Trade Desk, the Paperstac Price Predictor, year-end motivation, decision-maker delays, buyer offer strategy, and why realistic pricing can help sellers avoid missed opportunities.

Topics covered:

• Why seller motivation matters when pricing mortgage notes
• How speed affects the price buyers are willing to pay
• Why some notes sell above par
• What causes a note listing to sit without offers
• How buyers should think about making offers
• Why year-end timing can create opportunities
• How opportunity cost impacts note-selling decisions
• How Paperstac’s Trade Desk supports both buyers and sellers

If you have a note, portfolio, or unique debt-related opportunity you want to discuss, reach out to the Paperstac team.

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Rick Allen and TJ Osterman are back on the Paper Stack Podcast to talk about balancing yield and risk in note investing.

In this episode, they dig into why chasing an 18% target yield can sound attractive, but often comes with added risk, more defaults, thinner equity, smaller-balance assets, or heavier servicing and workout demands. They also explain why experienced investors may prefer steady “base hit” performing notes in the 8-10% range when the borrower profile, equity position, collateral file, and exit options are strong.

Rick and TJ cover loan-to-value, borrower credit, down payments, collateral review, performing versus non-performing loans, portfolio balance, and why liquidity matters when you may need to retrade a note later.

The takeaway: don’t step over a solid deal just because it does not hit a flashy target yield. A balanced portfolio can create steadier cash flow, reduce stress, and still leave room for higher-yield opportunities.

This episode is for educational purposes only and is not financial, legal, or investment advice.

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