Note Buying

Foreclosures, Short Sales, Tax Foreclosures
1

Hi All,

I hope I am posting this message in the right category. I am wondering if anyone has any experience with note buying?

I would love to hear how much time and money you expend in your efforts and if you have found it lucrative.

Also, two gurus I have encountered was Russ Dalbey and Donna Bauer. Anyone have any input as to who has the better program?

All responses appreciated.

2

I have been buying notes for a few years now. I have found great returns on it. I like getting the monthly payments and not having to be a landlord.

As to the programs, I don’t know much about Donna, but I do know that Russ Dalbey you should RUN away from as fast as you can.

He trains people to be “Brokers” and they will try to bring me a note, but there are like 10-11 brokers in the way. They all want ot make 2K, so by the time it gets to the note seller, they don’t accept the deal because it is to little. Not to mention, they really don’t know what a good note is, how to structure a deal, etc.

3

Thanks for your candid reply. Is there a guru, or otherwise, that you might suggest to help me get started?

Thank you.

4

I would look to Eddie Speed. He buys more notes than anyone I have heard of. He also has the only book on how to create notes that I have read.

http://www.colonialfundingroup.com

Just let him know I sent ya along.

5

what’s the idea of buying a note?
is it bringing the payments currents by investor, then the owner deeds the property to investor? but what about the note? is the note discounted by lender?
can anyone clarify the concept behind buying a note and how it works. thanks