An idea to make mucho dinero… - Posted by DanM(OR)
Posted by DanM(OR) on January 26, 2000 at 16:50:11:
as a little side business to notes.
I work a lot with mortgage brokers beating the bushes generating leads on note deals. What’s my angle with them? I am haveing them throw me the deals that can’t close. Then I propose that the seller generate a note and sell it to me at the closing table. It’s really starting to take off.
While I am out talking to these guys they throw me hard money deals about 2 for everyone note deal. Well, I got hooked up with a “subprime non-conforming” (hard money) lender in a major metro area here in Oregon. they need 15% and 5 points. I slap on another 1-5 points for my fee. Shazaaaam! A nice little side business. I just set up a deal that will yield me $800 for about 30 minutes worth of work. Not bad. What’s the yield on that?
Another hard money deal I am setting up could yield $30,000. We will see.
I just thought I would share this with you all. You might as well get paid whille you are educating these guys about notes right?
Best of luck to you and see you in Atlanta,