Posted by John Merchant on February 01, 2010 at 11:07:15:
I get at least one or two calls every week from somebody who’s just completed a LD and now assumes that I or somebody else in the the note buying world will offer top $$ for their note.
Sorry guys and gals, but today that’s just not happening and you’d better understand and accept that BEFORE taking that B’s note…and if you do, you may find yourself holding that note for its full term w/o selling it.
If I were advising somebody just getting interested in doing LDs today I’d urge them to get out there in money circles beforehand and form some little jv’s (joint ventures) with some investors who’re wanting some good high yields, then find and do LD as a jv with your investor.
When I stared doing LDs it was a little easier but even then I knew enough frustrated investors (with their poorly perfoming mutual funds and bank CDs) to talk to and find deals for that would fit the investor.