Answers
Where is the best place online to find Real estate note leads?
There are several sites that I have seen out there anyone have any recommendations for a site to try to buy them from?
Best Answer:
If you are referring to the commercials, forget it. I am a lender and have tried to buy notes from these students of these RE note educators, without any success. If you want to do notes, advertise in the largest news paper you have locally and you will get lots of calls from brokers and agents that you may or may not like. But you will be originating and controlling your own notes. If you have never done this before, you should email me?
Answers:
has this every worked?
I had a rental and got about 50 of these 'we buy notes' emails. DELETE x50 every time, every day. Sure I read the first 5 (months ago) but now the are all SPAM.
In this day and age of idenity theft, No way would I have given some stranger my information based on what I read in an email.
I dont care about the phone number that they leave. I have a $39.00 cell phone (from walmart) that you can put ANY area code in
and the number is generate in about 20 minutes.
NO record of it and no trace for a cash sale.
Not trying to discourage you but did want you to t hink about these things before you waste any more time and money.
I do NOT see this as profitable venture unless you consider another source for your leeds..
YOu might do better going to the courthouse and getting the names of houses that are on the way to being foreclosed.
First of all these guys are dead wrong. I have been brokering these transaction for a while now and have made a comfortable full time income.
There will be some note holders that will not sell but everyone has a different financial situation. Allot of these note holders are ready to maximize their investment and anyone who understand the true time value of money knows that getting money today is better then getting money in the future. Quite simply a dollar today is worth more then a dollar tomorrow so there are more then enough people ready to cash out of these notes. Now to answer your real question about how to find real estate note holders. 1. you can do your own research through public records or 2. You can pay companies to supply you information. The two best companies that I know about that do this are: notelead dot com and redatabank dot com
Try those out and I bet that gives you a good jump start.
Saragobon is correct about note buying.It is a very god business to be in. I suggest as I do to anyone that is just entering the business or have little experience in the note buying business is go to a book store an purchase as many books on note buying a you can afford.
There are several ways of finding notes to purchase, a few were mentioned here.
#1 You may advertise in your local newspaper that you purchase real estate notes that are being carried by private parties.
#2 You may go to the county recorder's offic at the county court houseand go though recent sales and see if there was a private note carried by individuals (They are easy to spot)
#3 You may send out faxes/letters.fliers to local real estate brokers, loan brokers/bankers that you are in the business of purchasing notes that are created by priate parties.
#4. Direct mail to certain areas of your city indicating that you purchase private party real estate notes.
There are several other methods you might try, be a little creative.
I really don't recommend the Internet to purchase notes, these individuals seem to have an agenda all unto themselves. Let's put it like this I have never had success with them , they always want to sell me a program in order for me to be able to sell or purchase notes through them.
I hope this has been of some use to you, good luck.
"FIGHT ON"