I'm not a Note Broker but....

[Ron B.]

Hi All.... I'm new to this forum. I'm a Real Estate Broker.

I have a few questions........ I've been connected to a direct source where I can buy notes. I know its a direct source because they actually own the notes. I really have no experience in this but I know people that do so I'm giving it a shot at buying individual notes for myself.

I had no intentions of being a "note broker" when I started looking into this but I now have a couple of clients that are interested in buying bulks of notes. Since I have the sellers and I have the buyers, in addition to buying individual notes for myself, I can also put bulk deals together for my clients. I figure there is nothing wrong in making a commission or a fee for putting these deals together.

My questions are... What is a reasonable fee or commission to charge the buyers for getting them bulk deals?. I plan on hiring an attorney in the field to oversee these transactions that I'm putting together but what's the procedure for me on collecting a fee? How would you structure it? How do you secure payment from the buyer on the day of closing? What agreements do you sign with the buyers and where can I find samples? What are my liabilities?