Do I need to setup an LLC for my note business?
I always recommend doing business under the auspices of an LLC. However, if you’re just starting out and don’t have the funds to setup an LLC right away, I suggest closing a deal in your own name and use that profit to file your articles of organization....
How do I find buyers if I don’t have time to network in-person?
If you’re new to the note business, I suggest either using my pool of investors if you’re my student or selling them to an institution. I wouldn’t use private investors for your first couple deals unless that investor is an experienced note buyer, in...
What happens if a borrower defaults?
When you’re in the middle of a note deal, what will you do if the borrower defaults? How do you get the deed in lieu? How do you protect yourself? I answer these questions in this short video clip. You want to act quickly to contact the homeowner and start...
How Do I Find Note Holders?
The best way to find note holders is to simply buy a list. Don’t underestimate the power of direct mail as you’re starting up your note business. I had a response from one of the first dozen mail pieces I ever sent in my career, and I ended up making an...