Yes - Posted by John Behle
Posted by John Behle on November 06, 1998 at 12:34:41:
I don’t buy in Ohio, but have been out there to speak to investment groups several times. There is no law I’ve ever heard of in any state prohibiting buying notes. There are a few relating to selling notes and advertising to sell notes. They don’t apply to advertising to buy. The videos goe into legal aspects, especially in California where there is the most controversy and the seminar was held.
The fact that there are no ads means one of two things. Either there are few buyers of notes or the ads have been un-productive.
In the easy financing market we have been in, less paper has been created in some areas, yet there is plenty to keep you as busy as you want to be. It is about marketing. Focus carefully on the finding and marketing sections in the tapes. The solution to today’s changing market is just a little bit of marketing savvy.
The bad news is it’s a more competitive and challenging market than it has been in the past. The good news is most people trying to broker paper have very little marketing knowledge and chance of competing with someone who does. They also have an extreme dis-advantage to someone with “table funding” (fast cash to buy notes) and the ability to move quick.
I’ve always geared my strategy similar to a friend of mine that is a specialist on management. He says “I don’t care if there is a 50% vacancy factor - that just means I can’t buy more than 50% of the rental properties - Because my units will be full and the others will be empty.” It’s the same with notes.