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About Notes Direct

It all started with three seemingly simple questions:

  1. How can we connect vetted note sellers direct to private investors?
  2. Why isn’t there a one-stop listing service for notes similar to the MLS for real estate?
  3. Where can the self-directed investor find notes without the headaches of marketing?

These were not necessarily ‘new’ questions. They have been asked, in one form or another, for decades. However, these nagging questions had a very complex answer.

As the saying goes, “Necessity is the mother of invention.” This need led to the creation of the online trading platform.

Our Leadership Team - Where Vision Meets Experience

Great things can happen when vision meets experience. With over 120 years of combined hands-on experience buying and selling real estate notes, our leadership has unmatched knowledge.  They also have a passion for sharing information and a desire for innovation.

Our team has collectively turned their attention to changing the landscape when it comes to investing in notes as a private investor.

Bob Repass

Bob Repass

- Managing Director of Colonial Funding Group, LLC & Fund Manager for Colonial Capital Management, LLC
Bob Repass is a 25-year veteran and expert in the seller finance mortgage and distressed asset industry. Over the course of his career, he has purchased over 40,000 performing and non-performing mortgage loans totaling over $2 billion dollars in volume, giving him an unparalleled track record in the industry. After a decade in banking and financial services, Mr. Repass entered the seller finance industry in 1991 as National Contract Buyer for Metropolitan Mortgage & Securities Co., based in Spokane, Washington. At the time, Metropolitan Mortgage was the largest institutional investor in the seller finance industry. In 1997, Mr. Repass joined Associates Financial Services in Dallas, Texas as Operational Vice President of its Private Mortgage Operation. During his tenure at Associates, he grew the operation to over $500 million in mortgage receivables, to overtake Metropolitan Mortgage as the industry leader. In 2001, Mr. Repass joined Bayview Financial Services as Senior Vice President with the objective of establishing and developing Bayview’s Seller Finance Division. This initiative led to the creation of Bayview First Funding – a unit of Bayview Financial – where as Managing Director his responsibilities included business development, operations, loan servicing and strategic planning. In addition, Mr. Repass was responsible for secondary market execution, focusing on the acquisition and securitization of seller finance and “scratch and dent” mortgage loans. During his tenure at Bayview First Funding, Mr. Repass oversaw the acquisition of more than $1 billion of residential and commercial mortgage loans from banks, mortgage companies, broker/dealers, real estate developers, homebuilders and individual investors. Since 2013, Mr. Repass has served as Managing Director of Colonial Funding Group, where he shares overall responsibility for the management of the firm. In his role as Managing Director, Mr. Repass’ primary focus includes P&L management and regulatory compliance. He also serves as Fund Manager for Colonial Capital Management, LLC and its series of capital funds.
Charles Mangan

Charles Mangan

- Senior Vice President
Charles Mangan was raised in Waxahachie, Texas and attended the University of North Texas, majoring in Real Estate Finance. Mr. Mangan began his career in the early 1980’s at the height of the savings and loan crisis and subsequent RTC era. The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company charged with liquidating assets – primarily real estate-related assets such as mortgage loans that had been assets of S&Ls declared insolvent. Mr. Mangan is a seasoned professional with over 30 years’ experience in the real estate finance and servicing arena. During the course of his career, Mr. Mangan has been a key player in several major corporations including Southwest Savings Association, The Associates Financial Services, and MCS, contributing to the growth and profitability of each of these organizations. During his 10-year tenure at The Associates Financial Services, Mr. Mangan managed one of the largest real estate recovery divisions in the U.S., responsible for generating over $5M recovery on a monthly basis from the sale of distressed assets. Mr. Mangan originated and sold over $5M in seller financed loans monthly over a 5 year span as Vice President of Mortgage Operations with Casa Linda Homes, one of the largest homebuilders in the Rio Grande Valley. Charles currently serves as Senior Vice President for Colonial Funding Group, responsible for portfolio management and Capital Partner investment operations.
Susan D. DeLaGarza

Susan D. DeLaGarza

- Vice President of Colonial Funding Group, LLC
Susan has been in the mortgage industry since 1984. She started her career with Finance America as a Financial Service Representative. The firm was subsequently purchased by Chrysler First, where Susan supervised the administration and lending departments of the company’s Irving, Texas branch. She ultimately managed Chrysler’s liquidation office for the State of Texas, before accepting a transfer to Jackson, Mississippi as Branch Manager. Susan has attended numerous training/enrichment courses pertaining to credit analysis, appraisal review, collections, loan processing, and real estate law. A Colonial team member since March, 1993, Susan manages Colonial’s loan processing and closing functions. In that role, Susan manages the hand-off of loans from marketing, the actual processing and closing of all individual and small portfolios of loans, as well as the final hand-off of loans purchased for resale. Susan is well known within the seller-financed note industry and is widely recognized among industry professionals as one of the most knowledgeable and capable closers in the business. Susan and Jesse, her husband of 30 years, have raised two sons and reside in DFW area.