Finding Notes - Posted by Dwayne J

Posted by Michael Morrongiello on January 30, 2007 at 23:11:27:

Dwayne:
All of the methods you are using are expensive and are saturated with other brokers who have commited huge resources to their marketing efforts… To top it off any prospects are going to SHOP you against the others thus any profit margins or “spreads” will be thin to begin with…

Get out and do what most people don’t wish to do…

Meet and greet, press the flesh, network, and mingle with all sorts of professional contacts;

Attorneys, CPA’s, Bankers, Real Estate Brokers, RE Investors, Mortgage Brokers, Title escrow agents, Financial Planners, and other professionals who come into contact with folks all the time that are holding Notes.

The tried and true “shoe leather” approach takes time for you to prime the pump (I used to attend a networking function, leads club meeting, or chamnber function 3-4 days a week) but over time you will get referral business. These are the BEST leads or prospects to get…

Best to your success,
Michael Morrongiello

Finding Notes - Posted by Dwayne J

Posted by Dwayne J on January 28, 2007 at 23:23:40:

Hello, I have recently started in the note business about two months ago. I have not done any deals yet. I am having a hard time finding people who want to sell there note. I placed ads in newpapers. I got names from courthouse research and mailed them a letter. I have not gotten one call from any of the ads yet. I have been looking online for deals, but only find deals from other brokers and those deals seem to fall through. Can anyone help me out as to how to find notes??? Don’t want to put out more money and not get results.

help - Posted by chris kanedy

Posted by chris kanedy on June 30, 2007 at 17:43:43:

i want to start in this bussiness but i dont know anything about it. that win cash flow bussisnes on tv… how do you find a note, then list it. if theres anybody that can help me pls email me.

List of ways to find paper - Posted by John Behle

Posted by John Behle on February 05, 2007 at 10:19:18:

Here is the list I was looking for. It is at:

http://www.papergame.com/findlist1.htm

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:

http://www.creonline.com/cashflow/cf-011.html
http://www.creonline.com/cashflow/wwwboard3/messages/oct98-nov98/2482.html
http://www.creonline.com/wwwboard/messages/sep99/40083.html
http://www.creonline.com/wwwboard/messages/oct99/46013.html
http://www.creonline.com/cashflow/wwwboard3/messages/mar99-jun99/3962.html

There are also a number of articles on the subject I have written that are not yet published here. They can be found at:

http://www.papergame.com/Finding.htm

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.

A Note In Time?! - Posted by David Butler

Posted by David Butler on January 31, 2007 at 09:38:25:

Hello Dwayne,

Mike’s exhortation here is right on the money. And you can find various previous discussions here in the Cash Flow Forum that explore this in greater depth - also posted by Mike; along with a number of excellent discussions from John Behle, and some from yours truly, including a few basic ones such as these:

"Growing Your Food Chain…"
http://www.creonline.com/cashflow/wwwboard3/messages/15461.html

"Three Foot Rule"
http://www.creonline.com/cashflow/wwwboard3/messages/11528.html

"Dealer’s Choice"
http://www.creonline.com/cashflow/wwwboard3/messages/13298.html

"Re: Where to find cash flow notes?"
http://www.creonline.com/cashflow/wwwboard3/messages/13625.html

Hope this helps you find your way out of the chute, and best wishes for your success! And…

Have Fun For A Living!

David P. Butler