Survey: Companies that provide private note leads info

10 Replies

Hey BPers,

I want to see who else is in the private notes scene and what lead gen companies/sites you get your lists from. If you don't want to disclose the source, that's fine; I'm actually specifically interested in knowing if your source provides you with details about the private note itself. So, maturity date, terms, you get the gist. Any enlightenment is highly appreciated.

I would be surprised if anyone did. It takes years to make contacts and to give them to someone with 4 posts is, well, I'll be polite; you need to open up a computer with Google and go out and make your own contacts. Its not hard, and I can't give you mine. so many ahead of you are willing to overpay, and like any investment, I set my price and if I don't get it, I am ok, because I didn't lose anything. Be careful of overpaying & good luck! For solid education, Papersourceuniversity.com has free education.

@Christopher Winkler

Thanks for chiming in and your upfront honesty! I suppose I should've mentioned my "why" factor.

I'm in no way interested in "knowing" whom anyone's "source(s)" are. 

My post is actually geared towards my research into whether there are any generic firms/companies out there, that I don't know of, that supply not just private note leads (i.e. ListSource, Experian, CoreLogics, etc.) but, more importantly, specific details about those notes (i.e. the mentioned maturity date, terms, position, encumbrances, etc.)

You know that saying, "if you want something done right do it yourself"? Well, if there isn't anything on the market that provides such then, as a real estate oriented/AI programmer, I want to undertake that "impossible" mission and materialze it. Hence my waltz in gauging interest and if anyone else is experiencing similar unautomated data issues as moi.

@Sam Shueh

Thanks for dropping in!

I appreciate the link piece. It certainly does fulfill the requirements I'm looking for but I guess I should also indicate that I'm not interested in servicers either. So, as a revision:

"My post is actually geared towards my research into whether there are any generic firms/companies (excluding servicers) out there, that I don't know of, that supply not just private note leads (i.e. ListSource, Experian, CoreLogics, etc.) but, more importantly, specific details about those notes (i.e. the mentioned maturity date, terms, position, encumbrances, etc.)"

I am certain that any servicer would have such details about a note down to a T. That is, I sure as heck hope they do!!! Nonetheless, thanks for the link and bumping me in clarifying further what I missed out on my initial "why".

@Khenkis K. - there seems to be confusion in this thread between public records data, and private data. The firms you mention will have public records data on notes (actually the deed of trust or mortgage that is recorded to secure the note). Whereas private sellers of notes may be able to offer non-recorded private information in some circumstances.

I believe @Sam Shueh and @Christopher Winkler  think you are asking for the later non-recorded data, and if so, it is likely you'll never build a good data set on which to turn ai loose, and whatever data you do acquire will be through hard earned relationships with note sellers, as they mention.

If you are, however, just looking for public records data, then all the sources your mentioned will offer roughly the same data. The primary limitation being what data is actually recorded. For example, you will typically find interest rate date on adjustable rate mortgages, thanks to the requirements for adjustable rate riders. At the same time you typically will NOT find rates for fixed rate mortgages.

Since you specifically mention "private" notes, I personally believe public records are what you actually want, and the best opportunity - why buy stuff other buyers or servicers don't want when you can go directly to the source? To find out what data is available from public records you can a) ask various vendors like the one's you mentioned, or b) go pull some mortgage or deed of trust documents in the area you are interested in, read them and see for yourself what they offer. I recommend the later regardless as you'll then be able to judge how complete each vendors offering is compared to the data actually available.

Unfortunately, while we are working to expand to your area, we have not yet done this analysis for GA.

@Sean OToole One thing that would be very helpful would be to get contact info for private lenders. I started compiling a list of private lenders by going to the county recorder's office, looking at the 1st page of the deeds of trust that were recorded, and writing down the name and address of anything that appeared to be a non-bank in the section "When recorded, mail to:" It was tedious and took me about 4 hours to compile 50 names. I sent one round of mailers before abandoning the effort to join my partner who has well established sources for NPNs.

My thought process was to try a strategy laid out in this forum a few years back by Bill Gulley. He suggested to target people who provided seller financing 18-36 months prior. At that point, some need to cash out or are generally a lot more willing to sell performing paper at a 60-65% discount. He would then help the borrower refinance at a 100% payoff, rinse, and repeat. 

If Property Radar could pull that info, it would be great for note investors that want to market to private lenders.

@Andy Mirza I couldn't agree more. Has been on my to-do list for quite some time. We've got the data and are in the process of adding it to our user interface. Feel free to PM me if you would like a preview before we release it later this year.

Originally posted by @Sean OToole :

@Andy Mirza I couldn't agree more. Has been on my to-do list for quite some time. We've got the data and are in the process of adding it to our user interface. Feel free to PM me if you would like a preview before we release it later this year.

That would be fantastic and a real game changer because that info is just not available except for the hard way. I definitely would like to see this when you roll it out. I’m not sure if we’ll set up the marketing machine for ourselves but I’m sure there are a ton of note investors out there that would make the efforts to reach these potential sellers. I would love to be a buyer! 

@Sean OToole You're absolutely right!!! My mind has been on overload lately and I've honestly got the two mixed up! Which is incredibly ironic because I was recently helping a fellow BP not too long ago clear up the difference between a mortage/deed of trust (depends if the state is lien, title, or even hybrid theory) and a promissory note. LOL Woe is me! I need to take a step back, not get ahead of myself, and recollect for a bit. Whew!


Alright! Yes, I'm looking for any misc. companies that provide public records on seller carry backs, "private" notes, whatever you want to call them as long as they're owned by an individual or small/mid company. My research process is actually what you've suggested, which is:

1. Contact company

2. Inquire about such datasets

3. If datasets exists then proceed with further inquiry into what data is available

4. Cross reference with actual pulled docs to see how comprehensive their data and datasets really are

So far, my findings are exactly as you've mentioned and, more so on, "The primary limitation being what data is actually recorded".

Thank you Sean! You've greatly furthered the assumptions on certain things I've had (i.e. roughly the same data) since undertaking this research.

Suppliers of seller-financed note leads absolutely do exist. I've been sourcing private note holder leads for about 9 years now through some solid sources who have really streamlined the compilation process over the past couple of decades. Used to do my own courthouse research, but that's now ancient history.

I use direct mail and then field the callbacks I get from the interested parties (motivated note sellers). The lists itself breaks down the year originated, property type, LTV, note holder address, etc. I don't need to know encumbrances at this point because that will all come out during the due diligence process when I get callbacks.

If you would like some suggestions on list compilers, you can PM me.