I’m often surprised by the options available to us from the many different networking opportunities we have at our fingertips today. With technology like it is we are able to network with people all around the world in seconds. It is truly amazing and it can be very lucrative for you if you have the right mind set. Mortgage notes can be found through a little bit of networking through online classifieds for example. You can create your own listing on many free websites these days and you can also search through listings that others post to find options that can mean money for you.

  • Post an add offering to buy Private notes
  • Contact private sellers who offer seller finance
  • Promote your website
  • Post an add offering to assist FDBO sellers
  • Contact FSBO ads to discuss the option of seller financing

The bottom line is there are options all around you and you only need to be open to them. If you focus only on the stresses and worries of life then you will find it difficult to be creative and think outside the box. Do more to find solutions. Close your eyes and calm your mind when a stressful problem comes about and then with a clear head think about creative options that might help you find solutions. In business this is often called creative thinking or “thinking outside the box”. It is a must for any successful entrepreneur.

I recently had a question about finding other brokers and investors to network with. It is interesting that many of us as adults tend to want to avoid “competition” or hold onto our secret sauce recipe. I personally think that the reality is, if we help one another and share what works we will likely gain more than we will ever lose from such relationships. Here is my response to how to find more insights and true good advice in the note business:

True investors do interact in this business. It is a matter of finding the right place to communicate. There are seminars that go on where real investors communicate. You can get a little bit of advice through www.biggerpockets.com and possibly through www.thepapersource.com. There are real opportunities in the business but it is NOT easy. I was fortunate to know somebody who was connected to the top buyers in the country and so he introduced me to People like Eddie Speed and Mike Morrongiello. I don’t recall having the pleasure to meet Tracy Z. face to face yet but those are some of the names in the industry that are solid real investors with integrity. If you see anything they write or have an opportunity to be at an event with any of them you should take the opportunity.

Here is the blunt truth about this business. It takes a lot of time to learn the things you need to learn to be successful. It takes money to advertise and or to pay for the right training. many of the infomercial programs just aren’t going to do it for you. It is not “easy”. It is not fast and if you are not able to truly dedicate yourself with time and marketing/learning capital then you need to find something else to do to make money. The note business is a difficult one to really make it.

So, as far as advice on making the note business work, you have three main options and all of them take a lot of effort. You can either use direct marketing to note holders which requires building a large list and sending consistent mailings to them. You should send out at least 100 cards per week. If you are not able to do this then you should look at other options.

The second option and I really think you should always pursue is to build a referral pipeline. You will need to talk to a lot of professional contacts including RE agents, lawyers, CPAs, Financial Planners and anybody else who might talk to clientele who could possibly have notes. It will take months of work to build the relationships and the leads will start coming in slowly.

The third option is one that Eddie Speed (www.NoteSchool.com) has done well with. Eddie buys more notes than most anybody in the country as far as I know. He knows the truth about anybody who professes to know about the industry and he is a man of integrity. He teaches his brokers how to find FSBO sellers and teach them seller financing to help sell their house. Then as the note finder you are able to secure a small commission up front and first right to buy/sell the note a year later when it has seasoned. It is a brilliant option that allows you to have a huge amount of control over the note but once again, it will take time to develop.

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