How do I find mortgage notes that I can buy?

[Patricia Lashley]

What does everyone think about buying mortgage notes?

Is there profit in doing this?

I understand the concept but cannot figure out how to find and negotiate the notes themselves?

Is there a forum where notes are sold? Do I just start calling up banks/credit unions?

Any advice would be appreciated.

[Chris Seveney]

@Patricia Lashley

It’s like any business, it has startup costs, takes a lot of hard work and time before you will be profitable. If it’s more of a hobby and you want to buy some here and there it can be done.

I think where people fail is they get caught up in the rush when starting and believing it’s simple or get rich quick scheme as that’s what many gurus lead you to believe but that is farthest from reality.

I also recommend people diversify their portfolio, so if you are doing notes, I recommend doing other investments as well.