Real Estate Notes Auction

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How do I get started bidding on Real Estate Notes?

Once you are set up as an Investor and have funds in your IRESE account, you are ready to start bidding on Real Estate Notes auctions. Go to the "Invest > Bid on Notes" page to get started. Take me there

In quick search, enter zip code to get a list of Real Estate Notes for that zip code.

From the "Bid on Notes" page, you can search for auctions by street, city, zip code, property owner credit grade, and a few other parameters. If you want to set more specific search criteria, you can do an advanced search. Learn more about advanced search and saved searches.

How do I interpret a Real Estate Note symbol?

Each Real Estate Note has a unique symbol associated with it.

For example, take RNF-27107-862473 symbol, which has 3 parts RNF, 27107 and 862473:
  • The first part defines a type of the note. In our example, RNF means the following:
    • R – Residential Property vs. C – Commercial Property
    • N – Note
    • F – Fixed rate note, other options are I – interest only, and A – adjusted rate
  • The second part defines a zip code where the property is located.
  • The third part is unique number assigned to the property in the specific zip code.

What are credit grades?

A credit grade is a letter grade that IRESE assigns you based on a Property Owner's credit score, for use solely in the IRESE. Learn more about credit grades and other credit data.

What is a debt-to-income ratio?

Debt-to-income ratio (or DTI) is a measurement of the Property Owner's ability to take on additional debt. The DTI is expressed as a percentage, and is calculated by dividing the Property Owner's monthly non-housing debt by their monthly stated income. Learn more about debt-to-income ratio and other credit data.

Why is auction ended sooner then end date suggests?

There is an option for Brokers who want to finance quickly and would be satisfied by a specified interest rate, rather than a potentially lower interest rate that could result if the auction were subject to continued bidding.

In this case, as soon an auction amount is met by enough bidders, the auction will close before the end date.

How do I read the bid history?

Before bidding on an auction, you should look at the bid history to understand how many Investors are bidding on a Real Estate Note, and how much money each one has offered to put up for the Real Estate Note and at what rate. Learn how to read the bid history.

How can I calculate my risk before bidding?

Before bidding on a Real Estate Notes auction, you should look at risk profile for the specific auction, consider such factors as DTI, LTV, property attributes and other data provided. In addition, IRESE tracks and collect notes performance data, which includes performance, delinquency, and default data for Real Estate Notes. Using this data, Investors can gain a better understanding of the dynamics of the IRESE, and use that knowledge to minimize the risk taken on investing in notes.

How do I place some bids?

There are two ways to bid on Real Estate Notes auctions at IRESE:

  • Place a manual bid: Place bids one at a time by visiting each listing, reviewing the details, and clicking the "Place Bid" button. You will enter the price per share and number of shares of your bid, and the bid will be placed. Learn about manual bidding.
  • Use portfolio plans (coming soon): For your convenience, IRESE has set up 4 "model" portfolio plans you may wish to use as templates for your portfolio plans. Each of the 4 plans presents a range of progressively increasing risk and potential return based on Real Estate Notes return profile attributes.

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