Where Do I Go To Find Notes That Are Sold To Private Investors?

Comments(9)

• 
  Goldie22nd December, 2003

  Try America's Note Network. I understant that they help people buy and sell all kinds of notes secured by different cash flows.
  
  Happy Holidays!

• 
  Lufos22nd December, 2003

  Are you speaking of buying notes at discount? Seconds, commission thirds and even some home improvement loans that were created by contractors doing add on or modifications and took back notes and Deeds of Trust/Mortgages as consideration for their jobs.
  
  Or are you looking for a mortgage company that creates such paper by working with private lenders. Some mortgage companies have in house funds that they use to fund and then they sell these notes afterwards to interested buyers who are looking for a straight interest earned return. Sometimes if they can such companies give Full Recourse, spoken, emplied contracted.
  
  Of course you can always by mail or otherwise solicite escrows and attorneys who do closings. There are also brokers who in desending time sell the notes that they took back when there was not enough money to pay for everything. Depends on the times and what is happening in your local real estate market.
  
  Lucius

• 
  edmeyer22nd December, 2003

  I know you will get responses about online sources. I was in the note business some years ago. The main source of privately held notes then was seller carrybacks. At that time an "I buy notes ad" in the paper brought responses. Connections with RE agents followed and I started getting referrals and business since carry backs were not unusual then.
  
  You might contact RE agents that deal in multiunit properties since seller participation in financing is more common than with single family transactions.
  
  I hope this is of help.

• 
  pejames23rd December, 2003

  Try a google search for americas note network. I just found a wealth of info there. Good luck

• 
  NYCinvestor23rd December, 2003

  So far, the information that has been provided has been very helpful. Anyone else has information, I would be happy to listen!
  
  Thank you!
  
  PS - TO EVERYONE - HAVE HAPPY HOLIDAYS!

• 
  pejames23rd December, 2003

  Also try www.notefunding.com
  I have gotten this from a recommendation. Good luck

• 
  Rami23rd December, 2003

  pejames: that website buys notes and not sell them!!
  There are hundreds if not thousands of them on the web.

• 
  lassitermarketing23rd December, 2003

  Go to a mortgage lender that funds out of its own warehouse line but sells the closed loan through a correspondent channel.
  
  They will have "broken loans" that are not going to be funded by the investor due to various reasons such as broken ARM change dates on FHA loans.
  
  Often times these are performing, A paper even FHA insured loans that are just outside of guidelines and they are always looking to offload them to a buyer rather than carry and service.
  
  The contact would be the secondary marketing or post closing manager at the mortgage company.
  
  Hope that helps!

• 
  fluidassets29th December, 2003

  I was thinking about looking into the note business as another stream of income. From what I have read here it sounds like it can be lucrative. What does it take to get started?