Need Advice to get notes

[Frances Cammack]

Hello Everyone, 

I haven't had any luck in finding notes to buy as of late. I have tried to look in Facebook, Paperstac, and here in Biggerpockets but wasn't able to get anything solid. I wanted to get everyone's insight where can I look for performing notes to buy to widen my search.

Thank you for any advice in advance.

[Bruce Lynn]

Have you called every HML in your area?

If you have a relationship with a lender and a title company, you might also go to them for assistance developing a list of notes that meet your parameters...whatever those are.  They probably have tools to search notes by % and amount and who the lender is.  You're probably not going to be buying off of Wells Fargo or some big lender, but you could find the ones that look like individuals and start prospecting them.  That means 10 post cards and 10 phone calls....to each prospect.

You might also search for the people in your area, that advertise that they owner finance.  Most of this will be trash, but there are legit players too.  You have to separate the scam artists from the legit lenders.  Lots of people are cash strapped right now and while they probably want to hold on to all their notes right now, the reality is sometimes people need to sell to raise cash for something else.  That's why you call 10 times, you have to catch them on the right day.  Chances are you call once, and that is not the right day.

Network at all your local REIA meetup. Let those people do your prospecting for you. Ask every one of them who the real owner finance gurus are in your town.

It's work.  None of this falls in your lap.

Post your parameters here.....What size do you want, what discount do you want, what interest rates do you want.  Do you want performing or non performing.  That way people can also tell you if your buy box is realistic.

Best wishes and good luck.