Re: Finding Notes - Social risk - Posted by John Behle
Posted by John Behle on February 05, 2007 at 10:11:19:
How and where to find notes has been discussed here for years. Some posts that may be helpful to check out here are:
There are also a number of articles on the subject I have written that are not yet published here. They can be found at:
Somewhere on this forum I also posted a link to over a hundred different sources of finding paper. I can’t find that right now, but one of the previous links might point to it.
I find the greatest success through referrals - in particular through real estate agents and other conventional and private lenders.
Most new paper brokerstend to be drawn to advertising, mailers, research, etc. Why? There are two main reasons. One is that that is what many of the seminar mills related to paper investing teach. There are a couple reasons they teach it. One is that it sounds good - more on that later. Second is that in some cases, that is all they know because that is what they were taught or because they have little if any real experience in the market. Third is that that is what people want to hear.
Why are people drawn that way and why is it something they want to hear? Because it has low social risk. It’s non-personal. A mailer that is thrown away has less risk than a person that says “not interested” face to face.
But, reality is personal contact is what works. What I hear time and time again from agents, attorneys, mortgage brokers or others referring me notes is “I called you because you are the only person I know that buys notes”.
We go beyond that in the fact that we offer A-Z financing. We can provide everything from FNMA conventional loans to hard money to paper. Agents and others know that it is a one call does it all situation. One stop shopping.
Read through the articles and information everyone has given, but notice in all three posts from the David, Michael and myself all talk about personal contact. Real players know that is what works. It doesn’t sound as easy as going to the county recorders office or buying mailing lists, but what works is what counts.