Re: Brokering Real Estate Notes - Posted by Christopher Lippincott
Posted by Christopher Lippincott on June 09, 2006 at 12:53:36:
(Q) Is there a place (or places) on the internet to list the notes I have available for purchase? I know about America’s Note Network and their listing service.
Absolutely there are places to post a note
?DON?T DO IT!!!?
Create a relationship with a buyer ?BEFORE? looking for notes. If you don?t know what is being bought or for that matter what to expect when the seller asks what kind of value to expect, you are behind the curve at the onset. The scenarios with which a buyer will entertain a strong value for a note are easily understood. Posting a note on the internet will certainly ruin a good thing for you and quite possibly your client.
EDUCATION will get the note sold
(Q) Regarding America’s Note Network, any comments regarding their note listing service?
(A) What will be learned from that?
(Q) Anyone know where to find quality note leads?
(A) After talking to an investor first (note buyer) you?ll have a distinct advantage in your search of notes as you will understand what they (funder) are looking for when it comes to buying paper. If you understand the underwriting mentality of funders you could presumably entertain or help create a seller financed note. Find a home that hasn?t sold (been on the market) and ask them if seller financing would be an option. If it is entertained or agreed upon get assistance (funder) so the note is at a maximum value and offers the opportunity for a sale at close (simultaneous)