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A Common Hurdle When Learning How to Buy Cash Flow Notes

When you are looking for non performing notes, you will most likely run into this common hurdle. I wanted to take the time to share it with you.

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

A number of these banks have probably responded to you in the same way. They are sayting that they either don’t have any non performing notes or that they don’t sell notes.

In this situation, should we just accept the truth to these objections? Or should we try to contact other people who might have better information for us?

“Can I Buy Cash Flow Notes? The 2 Responses

Let’s take a look at the two possible responses you can get:

1. We do not sell real estate notes.

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

I can believe the first statement. As for the second, I’m not buying it.

If someone is telling you that they don’t sell non performing notes, I would say that their statement is about 25% correct. Maybe.

On the otherhand, if they are telling you that they don’t have any non performing notes, the likelihood that they are pulling your chain is about 99.9%.

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

Learning How to Buy Cash Flow Notes…How to Find Contacts

You can try contacting the CFO directly at the bank or you can use the corporate HQ number and ask for the head of secondary marketing. Then try to contact loss mitigation.

There are always “multiple” ways to solve a problem. Don’t let the first door shut stop your note buying pursuit.

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

Will, one of my students, has shared a useful tip with me and I would like to share it with you. It has proven him success in finding contacts.

1. http://www.thomas-law.com and select mortgage banker licenses

2. Choose which state you want and then select 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

It’s that simple, now you have the principal contact info and emails for all your bank contacts! You can use this tool for all 50 state and start buying some cash flow notes!

Make your own success.