How do I broker notes? I am in California
I am a real estate broker in California licensed under CalDRE and NMLS.
How do I start brokering notes? Performing and non-performing.
Thank you!
#1 All Forums Contributor
- Investor
- Virginia
My recommendation is if you want to broker notes first learn the note business. Unlike a real estate wholesaler, notes is a completely different animal. The note space is probably 1/100,000 the size of traditional real estate - meaning everybody knows everybody. It is a relationship driven business. In order to be successful as a broker (and I can count on my hand how many successful note brokers there are), you must first learn how to buy, sell and price notes. Then build relationships with people in the industry.
The challenge is since everybody knows everybody, the lists you get everyone already has, so its like attempting to broker a house on the MLS. Everyone has already seen it so why are they paying you a premium when they can go direct.
