Posted by Mike McGinnis on September 07, 2001 at 18:28:25:
In Reply to: Newbie questions posted by Chad Kranz on September 06, 2001 at 23:34:07:
The catch is finding the notes and negotiating to purchase them at a discount. Many note holders don't want to sell and if they do, they don't understand that their note should be discounted. I once even had a note holder think that paying a note off should be for the sum of the remaining payments, not just the remaining principal. So finding note holders who are motivated to sell at a discount is the largest problem. John recommends networking with those who come into contact with motivated note holders (realtors, lawyers etc) as the most productive method of finding them. Finding money is secondary to finding the mortgages. There are lots of investors ready to put up the money for the yields possible.
- Re: Newbie questions Chad Kranz 00:28:27 9/08/2001 (1)
- Re: Newbie questions dave toma 05:36:32 7/18/2003 (0)