Posted by Craig on April 14, 1999 at 10:22:40:
As a matter of fact that’s how most investors get started in paper. You can find a note and get an option to purchase it for a certain amount, and resell it to an investor right away. As with real estate you want to have investors lined up ahead of time and know what kind of paper they are looking for and what they will pay. You can then make an offer based on that. Myself and many others suggest that you begin by flipping to “institutional investors” when you are just starting out. You will learn alot as you go which will eventually give you the know how to keep yourself safe when you eventually start working with private funding sources that you develope. Send me an email and I will give you some contact info of some institutional investors. I do suggest that you “pay” for a good course that will teach you the basic fundementals of paper before you try doing this at all. A good course will also contain info on some “reliable” marketing approaches that will help you find deals. Much like real estate, this is not a get rich quick biz and takes some very hard dedicated work to stay afloat. I can’t tell you what your goals should be, however I recommend that you work toward being able to invest yourself very soon. Flipping will allow you to still do something with the deals that meet your buying standards.
Good Luck
Long Winded