Sources for finding local notes?

[Bill W.]

Are there any go to sources for finding opportunities to purchase quality notes in my local area? I’ve looked at some of the online listing sites and I am lucky to have one or two in my state (I live in Portland, OR). I like the idea of investing in notes, but are these deals difficult to find, or is there an active market place for these if you know where to look?
-Thanks

[Eric M.]

I have to be honest I have never understood the idea of buying notes. It seems like a pain to find them and then few of them that you find are really what you want (there is a reason they are being sold).

If you have cash and are seeking a good return, create your own notes by becoming a private lender. You lend to an investor with a house as security and boom, you have a note for yourself....one that you have vetted thoroughly already. Done.

Why go looking for someone's sloppy seconds?? Maybe for a couple of extra points?? Unless you are consistently getting performing notes yielding more than 20% I don't see the value. (unless of course, you are wanting to take control of the collateral)