Forums » Tax Liens, Notes, Paper, & Cash Flows Forums » Brokering a Note

Brokering a Note 4 posts by 3 users

Jason F.

Real Estate Investor
Gainesville, FL

Posted: 04/13/2008 at 04:53PM

I have some investors that work with me on financing foreclosures that have expressed interest in purchasing discounted paper through me if I can learn the process.

I know how to find discounted notes and value these notes and contact the owners. I'm a little unclear on the actual process of having the interest in these notes assigned.

I know it involves an basic assignment of note, having the named-insured on the insurance policy changed, and notifying the borrower of the change. Am I missing something? Can most title companies take care of this or would it be wise to go to an attorney to handle these?

And how exactly do I structure my fee? I'm guessing it is an investment agreement between my investors and I outlining my finder's fee if the closing takes place.

If anyone can help me out on these details it would be much appreciated. If you have any copies of old docs and agreements you used that would be really appreciated. I'm really trying to avoid paying for a NOTE course or buying a book that will most likely be fluff.

Thanks in advance.

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Luke A.

Real Estate Investor
Orlando, Alabama

20 posts

Posted: 07/17/2008 at 09:44PM

I see that you posted this some time ago and there was no reply. I am wondering if you have figured it all out and have gone through the process of brokering a note yet.

If not and you would like some guidance, I will gladly assist you in any way I can.

The process is quite simple if all your doing is brokering. Your investors will take care of closing costs provided you get a " Net" quote.

You just need to have a non-circumvent agreement in place so that you assure your commission which is determined by the difference in the quote you get from your investor and the quote you give your end client.

Let me know if your still watching this post and ask away.