Posted by David Butler on April 26, 2006 at 11:42:02:
First thing you’ll want to come to grips with is that in the private cash flow markets, you aren’t going to encounter many “experienced” note sellers in the pool of note holders. And it often isn’t a good thing when you do, as a beginner. I’ll leave that for another discussion, and get to the heart of your primary question here.
I’m not sure what you mean by “qualified” notes, but it will be extremely valuable for you to understand (particularly when you are first starting out) that having “qualified” note holders is much more important than having “qualified” notes.
Better still to develop and implement a marketing plan that eventually results in “qualified” note holders looking for you, rather than you looking for them.
A full discussion on that topic alone is the meat of a two-day marketing workshop. (BTW… Roberta Standen of Note Servicing Center will be co-hosting that very thing with me the last two days of July - keep your eye out here for more information on that coming up after the CREOnline Convention next week).
In the meantime, there are great number of helpful “marketing” and “finding notes” discussions already loaded up right here in the Cash Flow Forum! All you need to do to tap into these little “pearls of wisdom” is use the words in quotes in the first sentence of this paragraph, as your keywords in the search engine at the top of this Forum!
Here are just a few out of the 100 plus discussion threads you’ll bump into that should prove to be very helpful to you:
"Re: Where to find cash flow notes?"
"Re: How do I find real estate notes?"
"Growing Your Food Chain…"
The 10 Step Plan in the last of the above is a very good “jumping-off” point! Don’t stop with these. Research and digest as many as you can over the next few hours, or days, or weeks, according to your available time. And then take ACTION!
And best wishes for your success!
David P. Butler