How to buy Real Estate Notes - a Single Source for your Note Buying Deals
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On how to buy Real Estate Notes:
Consider this - I get an email from a note broker friend of mine two Fridays ago about a $3 million 23-note pool of nonperforming loans (1st and 2nd mortgages), I review all the loan documents and submit a bid by the following Wednesday, and I find out the following Thursday that I've won the bid with around a $1.1M offer.
Hang on, hang on before you think "good for you, Dean, but I only have $20,000 to spend so this isn't for me%u2026" (Btw, our How-to-Raise-Money Toolkits can definitely assist you in that department.)
My original bid was for 6 non-performing loans in this note pool. And the seller told me I was on the short list based on my bid on those 6. Could you have bid 2 loans for say $50,000 a piece? Sure.
My point on How to buy Real Estate Notes is:
You never know ahead of time whether you'll be able to pick off a few loans or not, so just go ahead and bid anyway!
Anway, back to the story %u2026 so that was last Thursday.
Then, on Friday - one day later - I get a call from the bank selling me the note pool asking me if I'd be interested in an $8 million pool of non-performing notes that they're sending out in another month, out of which I can probably "cherry pick" the notes I want.
Ahhh%u2026 you see why I like note buying?
Isn't that cool - you meet someone one week and a couple weeks later they're sending you more and more opportunities! Compare that to having to CHASE DOWN your next 'real estate investing deal' (buying/finding a property).
Key point: your track record counts for a lot in the note buying business - so if you close a deal on time and at the price you say you will, you might end up the favored investor on the very next note buying deal coming from that same seller.
That's an efficient way to build your pipeline of note buying deals - and that's what makes the non performing notes business so attractive - for this fraction of Real Estate Investors out there who understands how to buy Real Estate Notes.
Consider this - I get an email from a note broker friend of mine two Fridays ago about a $3 million 23-note pool of nonperforming loans (1st and 2nd mortgages), I review all the loan documents and submit a bid by the following Wednesday, and I find out the following Thursday that I've won the bid with around a $1.1M offer.
Hang on, hang on before you think "good for you, Dean, but I only have $20,000 to spend so this isn't for me%u2026" (Btw, our How-to-Raise-Money Toolkits can definitely assist you in that department.)
My original bid was for 6 non-performing loans in this note pool. And the seller told me I was on the short list based on my bid on those 6. Could you have bid 2 loans for say $50,000 a piece? Sure.
My point on How to buy Real Estate Notes is:
You never know ahead of time whether you'll be able to pick off a few loans or not, so just go ahead and bid anyway!
Anway, back to the story %u2026 so that was last Thursday.
Then, on Friday - one day later - I get a call from the bank selling me the note pool asking me if I'd be interested in an $8 million pool of non-performing notes that they're sending out in another month, out of which I can probably "cherry pick" the notes I want.
Ahhh%u2026 you see why I like note buying?
Isn't that cool - you meet someone one week and a couple weeks later they're sending you more and more opportunities! Compare that to having to CHASE DOWN your next 'real estate investing deal' (buying/finding a property).
Key point: your track record counts for a lot in the note buying business - so if you close a deal on time and at the price you say you will, you might end up the favored investor on the very next note buying deal coming from that same seller.
That's an efficient way to build your pipeline of note buying deals - and that's what makes the non performing notes business so attractive - for this fraction of Real Estate Investors out there who understands how to buy Real Estate Notes.
How to Buy Notes aka Defaulted Mortgages NoteBuyingProfits.com
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notebuyi689
http://www.NoteBuyingProfits.com No-nonsense Note Buying Information. Up-to-date! Hours of FREE Note Buying Training Videos, Free 1-on-1 Coaching Session!... more »
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