The business of
buying notes secured by real estate or other assets consists of:
Finding
the notes is the most difficult
part of the business. You want to let the note holders of the world know that
you can buy their notes. To do this requires marketing and advertising skills.
If you can get your name out to note holders you will be able to buy more notes
than those people with poor marketing skills. Finding notes is the only way to
succeed in this business. Fortunately, there are many ways of finding holders of
notes. But, you must spend at least 80% of your time doing this type of
marketing.
Negotiating to buy
notes requires good people
skills and good skills with a financial calculator. The calculator is easy and
fun to learn. Notes can be purchased in so many creative ways that you can solve
almost any problem that the note seller may have. Your calculator skills allow
you to craft such deliciously complex offers that your note seller will be
pleased and your competition will be baffled.
Buying notes
requires that you have an outlet to sell them and an escrow company that can
make sure the paper work is done correctly. The good news is that the complex,
paper part of the note business can be left to the escrow company. You must
understand notes and mortgages and trust deeds but the technical parts of this
business are best left to the escrow and title companies.
Selling The Notes for a
Commission: Unless you have an outlet
to sell your notes, you are not in the note business. Because no matter how much
money you have, you will eventually run out and have to find investors. The best
sources are the corporate financial institutions who will buy your notes for a
good price and pay you a handsome commission. In addition, you may cultivate
private investors--and even pension funds--to finance your note buying business.
To learn more, we
sell inexpensive books at our on-line
store.
Be sure to leave your name, address and phone number at this site or send E-Mail
to jon@noteworthyusa.com for get a free
sample of our monthly newsletter for note brokers. You may also call us in
person at 800-487-1864.
