Posted by Michael Morrongiello on June 23, 2001 at 19:22:12:
Teri:
There is no thing as finding a “discounted note”. What you are looking for are individuals or businesses that are either in the business of SELLING Real Estate and also FINANCING thier buyers,OR the mom n’pops of this world who at one time or another sold their home, or property, and financed the buyer by carrying back a mortgage, trust deed, or land contract type instrument.
Such individuals are out there in the marketplace ALL day long. Often these individuals realize that to have CASH in hand today, is more valauable to them, than to continue to collect on their income stream. They are willing to “discount” their income stream and the rights to collect those future payments for a LUMP SUM cash payout today.
So, you must figure out how to find these types of note holders or have them find you.
Advertising, networking, direct mail marketing, building a refferal base, Realtors, Realty Investors,Developers, builders, attorneys, accountants, bankers, - are not limited to either holding paper themselves or may have clients or contacts that are holdig paper. This list is not limited as their many oOther sources of “paper” that you might be able to transact business with as well.
To your success,
Michael Morrongiello