Are there any active commercial note investors in here? I have a few questions about them?
Hello @George Frye , we have started to actively market to commercial note sellers and have just started receiving calls, but have not purchased anything yet in that space.
I have a multi family note. What questions do you have ?
@Chris Seveney I sent you an connection request
@Jim Hartmann how long have you been marketing and how did you get started
@George Frye I started marketing to residential note holders about 18 months ago or so. I started marketing to commercial note holders about 5 months ago. I started off buying a list for several midwest states and have recently started on a list focused on a couple states out west to see if I see any differences in responses. The midwest list I had was not so successful. Already received a few calls from the list that I recently purchased however and so I am hoping to get more responses as I send out more letters.
How about you? Have you started reaching out to commercial note holders?
@Jim Hartmann I have more so been reaching out to my bank and hedge fund contacts
@George Frye That sounds great also. I have not tried that route yet.
@Jim Hartmann Its less time consuming and cheaper than mailing owner however you might get a better deal depending on what youre buying
@Nic DeAngelo I HAVE been able to buy 1 off's
Notes secured by commercial property can be unearthed through referral sources such as attorneys.... you may need to serve as an "educator" by offering guidance to the note holder. Seems to me many, if not most newer note people think "commercial" notes typically equate to large-scale corporate property; but small business owners (like a small factory or warehouse) take back notes, too. And, they can be bought and sold, too, just like notes secured by SFRs. And, they can be just as profitable. I love them.
@Tim Fitzgerald thanks for your wise words. Could I please talk with you more offline. I sent you a connection request
I buy commercial mortgage notes from banks or the SBA, and also originate commercial hard money mortgage loans. Since 2001 I have originated/invested in over 450 loans and purchased about 25. Average loan size started out at $250k, now it’s over $1 million.
Don interesting never knew about SBA. Can we talk more.
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