Real Estate Note Investing
FIXnotes | Non-Performing Note Investing
Welcome to FIXnotes — the go-to podcast for real estate investors ready to level up by becoming the bank. Hosted by Robert Hytha and industry experts, we dive deep into the world of mortgage note investing — especially non-performing seconds. Learn how to source, analyze, buy, and resolve distressed debt while helping homeowners and building lasting wealth. Whether you're scaling a fund or buying your first note, you'll get actionable strategies, real-world case studies, and insider insights to systematize and grow your note business. It's time to cash flow without tenants, toilets, or trash.
Episodes
20 episodes
Episode 20: Why Most Investors Overlook This Asset Class
Most investors chase properties because that’s what they see — but the real power in real estate has always been owning the debt.In this episode, we strip away the noise around rentals and flips and explain why mortgage notes quietly rew...
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5:54
Episode 19: Building a Note Business as an LLC
Operating without an LLC in note investing isn’t “saving time” — it’s gambling your personal assets on someone else’s paperwork and your own inexperience.In this episode, we break down why an LLC isn’t just a legal checkbox, but your bas...
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4:20
Episode 18: Legal Framework: Mortgage, Note, and Assignment
Paperwork isn’t “admin” in note investing — it’s the asset. If you don’t control the note, the lien, and the transfer trail, you’re not buying enforceable debt… you’re buying a story someone told you at closing.In this episode, we connec...
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5:07
Episode 17: The Role of Equity and CLTV
Equity is more than a feel-good metric in note investing — it’s leverage, protection, and optionality. If you don’t understand how much real collateral coverage exists across the entire lien stack, you’re not underwriting a deal… you’r...
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5:25
Episode 16: Understanding Collateral Value
Understanding the true value of collateral is the cornerstone of safe, profitable note investing — because collateral is what ultimately protects your downside when everything else goes wrong. If you misjudge value, you’re not just mispricing a...
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5:13
Episode 15: Understanding Loan Amortization
Understanding loan amortization is foundational to smart note investing — because cash flow, risk, and exit strategy are all shaped by how a loan actually pays down over time. Without modeling it, even experienced investors can misread equity, ...
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4:22
Episode 14: How to Set Your Investment Criteria
Building a successful note business starts with clarity — knowing exactly what you buy and why you buy it. Without a defined investment strategy, every deal becomes a gamble.In this episode, we show you how to build your personal buy box...
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4:50
Episode 13: Risk vs. Reward in Note Investing
Building a successful note business isn’t about chasing yield—it’s about understanding risk, control, and how to protect your position before anything goes wrong.In this episode, we break down the real risks in note investing and how dis...
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5:39
Episode 12: What Makes a Good Note
Building a successful note business starts with knowing what a good note actually is—and why the right paper can protect you long before you ever collect a payment.In this episode, we break down the core elements that separate s...
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4:28
Episode 11: Cash Flow Without Tenants
Building a successful note business takes more than finding good deals—it takes a system.In this episode, we walk through the FIXnotes System, a battle-tested framework for sourcing, analyzing, managing, and scaling mortgage note ...
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5:06
Episode 10: Intro to the FIXnotes System:
Building a successful note business takes more than finding good deals—it takes a system.In this episode, we walk through the FIXnotes System, a battle-tested framework for sourcing, analyzing, managing, and scaling mortgage note investm...
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5:05
Episode 9: Key Terminology from the FIXnotes Dictionary
If mortgage note terminology feels like a foreign language, you're not alone—but without it, you're flying blind in negotiations, due diligence, and servicing.In this episode, we decode the key terms every investor must know to operate w...
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6:12
Episode 8: Why Default is an Opportunity
If you’re avoiding non-performing loans out of fear, you’re likely missing the most profitable part of the mortgage note business.In this episode, we reframe what “default” really means and show how it opens the door to leverage, negotia...
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5:08
Episode 7: "Be the Bank" vs. "Be the Landlord"
If you don’t understand the underlying investment structure, you’re choosing between very different risk profiles. In this episode, we compare two distinct real‑estate investment roles — acting like the bank (note investor) versus ac...
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6:01
Episode 6: Anatomy of a Mortgage Note
If you don’t understand the paperwork, you don’t understand the investment. In this episode, we dissect the core documents behind every mortgage note deal — and explain what each one means for your rights, risks, and returns.L...
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6:14
Episode 5: Lien Position - 1st vs 2nd Explained
Not all mortgage notes are created equal — lien position makes all the difference. In this episode, we break down the difference between 1st and 2nd lien mortgage notes, and how each position changes your strategy, your risk, and you...
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6:49
Episode 4: Meet the Collateral - The Lifecycle of a Note
You’re not just buying paper — you’re buying a contract backed by real property. In this episode, we walk through the full lifecycle of a mortgage note, from origination to resolution, and explain what collateral really means in this...
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5:22
Episode 3: Performing vs Non-Performing Notes
Which is better: steady cash flow or steep discounts? In this episode, we compare performing and non-performing mortgage notes — breaking down the pros, cons, and strategic plays behind each.Learn how investors generate income...
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3:50
Episode 2: Why Banks Sell Mortgage Notes
Banks lend money — they don’t chase borrowers. In this episode, we break down why banks sell mortgage notes (often at a steep discount) and how investors like you can step in to profit.Learn how to source notes directly from institutions...
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4:36
🎙 Episode 1: Foundation and Introduction to FIXnotes
Tired of tenants, toilets, and turnover? In this kickoff episode, host Rob Hytha shares how he went from fixing properties to fixing debt — and why investing in mortgage notes is the real estate strategy most investors never hear about.<...
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4:15