Non Performing Note Broker

[Amran Musaid]

I've been a buy and hold investor for several years now and now I want to start investing in notes. Is there a broker that will allow me to buy non performing notes in certain zip codes? The strategy I want to try is to work with the borrower to try to get the note performing and thus increase it's value and turn around and sell it. My plan B if this doesn't work as I hope is to just foreclose on the properties and add them to my portfolio which is why I only want to buy notes in zip codes I'm familiar with. I tried doing a little googling and found a company called paper stack but they had like 5 notes for sale. Anyone have any suggestions for me ?  

[Chad U.]

Quote from @Amran Musaid:

I've been a buy and hold investor for several years now and now I want to start investing in notes. Is there a broker that will allow me to buy non performing notes in certain zip codes? The strategy I want to try is to work with the borrower to try to get the note performing and thus increase it's value and turn around and sell it. My plan B if this doesn't work as I hope is to just foreclose on the properties and add them to my portfolio which is why I only want to buy notes in zip codes I'm familiar with. I tried doing a little googling and found a company called paper stack but they had like 5 notes for sale. Anyone have any suggestions for me ?  

You'll be hard-pressed to find non-performing notes in your designated zip codes.  Maybe 8 to 10 years ago you could have picked and chose but inventory is very slim nowadays. If you want to get into the business you will need to spread your wings and venture into areas that you are not familiar with. That is the only way to survive in this business.