Analyze a Real Deal

Hands on the Wheel

No more reading. Below is a guided walkthrough modeled on a completed NPL transaction — a Pennsylvania first-lien with a $68,000 UPB and a $40,000 asking price. You’re going to run it through the same 4-step Indicative Due Diligence Waterfall that professional note investors use on every deal.

The 4-Step Waterfall

You already know the questions the waterfall answers — is the collateral real and valuable, who’s behind the loan, and what should you pay. In practice, professionals run those questions as four ordered checks. If a check fails, you stop — and save your research dollars.

The check that decides whether you bid at all

Your walkthrough deal came back clean — a true first lien with room to spare. But “clean” is exactly what a basic lookup can’t promise you. Here’s Property Lens™ run on a deal that wasn’t: the Deep Report surfaces a recorded senior lien that quietly wipes the equity. Free members see the basics up top; Mastermind unlocks the Deep Report below.

What You Just Did

You’ve just analyzed a deal someone else priced. You knew the outcome before you started. Next step: you price one yourself — on a live asset from our marketplace, with instant feedback on whether you got it right.