How To Find Note Buyers

[Mark Ortega]

I was wondering what is the best route to finding note buyers that are willing to purchase a note at face value or close to face value.

How do you go about procuring a list of note buyers? Any personal stories, methods, or strategies for systematically finding note buyers would be greatly appreciated!

[Rick Pozos]

YOu are not going to be able to sell notes at or close to face value. IF you have a credit score (600+), check stubs, tax returns, buyers meet the 38/48 or whatever the percentage is that is required by all the new laws, you might be able to get about 75-80%. The note buyer(s) are going to want about 15% in addition to the above. 

You may be able to find some individuals who are not so sophisticated and may be willing to take 12%, but that will require lots of marketing. Talking to friends, family and friends of their friends. Everybody is going to have their own criteria for buying notes.

To answer your question: You will find them through networking and marketing. It does not happen over night.