How to Buy Cash Flow Notes – “We don’t sell Notes”

How to Buy Cash Flow Notes, a Common Struggle

Let me share with you a common hurdle that one faces when looking for non performing notes.

It’s my guess that you have been calling numerous banks in an attempt to look for notes to buy.

Several bank contacts have told you that either the bank does not sell notes or the bank does not have any non-performing notes.

When one hears these objections, should we accept them as the truth or just blow by them and try other contacts?

Your Two Responses to the Question: Can I Buy Cash Flow Notes?”

Let’s review to the 2 possible situations you will be get:

1. “Sorry, we don’t sell real estate notes”.

2. Our bank does not have any non performing notes.

The first statment I might believe, but the second? No way.

If you get someone telling you: “Sorry, we don’t sell non performing notes” there’s probably a 25% chance that what they’re saying is right.

If you get someone telling you: “we don’t have any non-performing notes” you know there’s a 99.9% likelihood that they’re either misleading you, or clueless.

So what is your best option? You need to call someone else at the bank.

Finding Your Contacts When Learning How to Buy Cash Flow Notes

If on your first attempt, you contacted Loss Mitigation…try secondary marketing the next time. Or you can call in and ask for the CFO directly.

Always keep in mind that you can solve a problem in many ways. Don’t get discouraged when you are turned away, don’t let the first door shut stop you in your note buying pursuit.

How to Buy Cash Flow Notes – Will’s Tip on Finding Contacts

I want to share with you a tip that one of my students, Will, has shared with me. A tip on finding contacts, follow these steps.

1. Go to www.thomas-law.com and select mortgage banker licenses

2. From there you can select the state and click on the link that says “mortgage lending division”

3. Then click on the licensee records link which should be on the left hand side

4. Select 82 licensed mortgage bankers

Any one of those links will give you principal’s contact info & email. You can do this for all 50 states. Now who has the bank contacts? Use them and buy some cash flow notes!

Hard work pays off.

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