| How to Buy Cash Flow Notes - Banker says..."No Notes Here!" |
| Articles - Mortgage |
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A Common Hurdle When Learning How to Buy Cash Flow Notes
A Common Hurdle When Learning How to Buy Cash Flow Notes I want to share with you a common obstacle that you will probably face when you are looking for non performing notes. I am sure that you have been making tons of outbound calles to various banks trying to find notes to buy. A number of these banks have probably responded to you in the same way. They are sayting that they either don't have any non performing notes or that they don't sell notes. In this situation, should we just accept the truth to these objections? Or should we try to contact other people who might have better information for us? Your Two Responses to the Question: Can I Buy Cash Flow Notes?" Let's review to the 2 possible situations you will be get: 1. Our bank doesn not sell real estate notes. 2. Our bank does not have any non performing notes. The first statment I might believe, but the second? No way. If someone is telling you that they don't sell non performing notes, I would say that their statement is about 25% correct. Maybe. If you get someone telling you: "we don't have any non-performing notes" you know there's a 99.9% likelihood that they're either misleading you, or clueless. What do you do? Find someone else to call at the bank. Learning How to Buy Cash Flow Notes...How to Find Contacts You can try contacting the CFO directly at the bank or you can use the corporate HQ number and ask for the head of secondary marketing. Then try to contact loss mitigation. Always keep in mind that you can solve a problem in many ways. Don't get discouraged when you are turned away, don't let the first door shut stop you in your note buying pursuit. How to Buy Cash Flow Notes - Finding Contacts...A Tip From Will Will, one of my students, has shared a useful tip with me and I would like to share it with you. It has proven him success in finding contacts. 1. http://www.thomas-law.com and select mortgage banker licenses 2. Choose which state you want and then select the link that says mortgage lending division 3. Click on the licensee records link 4. Select 82 licensed mortgage bankers It's that simple, now you have the principal contact info and emails for all your bank contacts! You can use this tool for all 50 state and start buying some cash flow notes! Nothing ventured, nothing gained. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Interested in learning more about the Real Estate Note Business? Watch Hours of FREE Training Videos here: How to Buy Non Performing Notes Real-life, Up-to-Date Information for You. Visit NoteBuyingProfits.com or Call 718-783-7605 Or Click Here: How to Buy Notes From Dean Engle & NoteBuyingProfits.com - This time on How to Buy Cash Flow Notes |