Buying Notes From Wholesalers
Hello. I understand that some companies but notes in bulk and then resell those individually.
Has anybody bought any notes from companies like those?
How do I go about contacting them and get a list of notes?
Thanks in advance,
Alexander.
Hi Alexander,
There are definitely many note buyers out there that buy in bulk. I would recommend going to Google and putting in "Note Buyers" and then scanning their information, they are very upfront about what they are looking for and how they work.
I research them through their web sites and find it very helpful.
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Gail,
To clarify some things you wrote.
If you find note buyers from a google search are you saying you can then tell if they buy in bulk and then resell individually? I have not directly searched this way. What I have found were note buyers who are looking to buy notes.
How did you figure out that they were buying pools of notes and breaking them up for resale?
John
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Hi John,
I guess you cannot tell from their sites if they will then resell notes individually from the information they provide. I was mostly recommending a way to find buyers of notes and then with a phone call or two Alexander could find out how they operate after they buy the note portfolios.
Just on the first round from Google I found 10 very well known note companies, not individuals looking to buy notes...and that was just the first page. It also shows a database that you can purchase - actually 2 sources for that information are on there.
I own both databases and they do have different information and you are updated as they are constantly adding to it.
I hope this helps clarify what I was talking about - sometimes I lurk in muddy waters - but not because I really want to go there...
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Gail,
I see you are in the paper note buiseness, and if you could recommend some good websites/databases, where I could find notes for sale, that would be great.
I found quite a few that buy notes, but none that sell.
Alexander.
Alexander,
Someone on this forum suggested www.papersourceonline.com. I have found it very informative for learning about paper and who has what. Check it out, Bob
Are you looking to buy for yourself or for someone else? Depending on what your looking for (performing vs. nonperforming) seasoned vs. unseasoned as well as what your minimum portfolio size that your looking for. You must be a bit more specific as there are companies that will sell to real buyers. This occurs everyday on the secondary market.
Mark
*BOARD HUSTLER*[ Edited by JohnLocke on Date 10/10/2004 ]
Alexander -
I am sorry I am just now getting back to you. A publication called Note Worthy actually has an ad that refers to a company that has a database of note holders. It is a cost per lead, but that is really all I know I have not done business with them. But its another place to look.
If I find another source I will let you know.
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