Is brokering notes a viable career path?

[Account Closed]

With social and business networks such as Bigger Pockets and Linkedin, is there any economic justification for having a middleman (or woman)? Also is brokering notes legal in the US and even possible for a foreigner (I'm Canadian)? Thanks in advance for your responses.

[Dave Van Horn]

@Account Closed

Is it viable? Sure it's possible, but a compliant buyer network is rarely acquired through social media. Or at least, social media alone. Most valuable brokers are relationship based professionals both with the source and the buyer. Many assist in the the transaction in a multitude ways: like with collateral, recording assignments, giving valid estimations of how much a tape or portfolio is worth, buybacks, etc.

I would imagine it would be difficult being Canadian in this scenario since the licensing to buy,own, and sell assets is pretty strict. Our company had to be vetted, audited, fingerprinted, etc. So I don't want to say it's not possible, but it probably won't be easy.

If you're looking to get into notes and don't have much capital (which I'm presuming), you may have more success JVing with another investor or buying a partial. Plus these two strategies are much easier to accomplish with the help of social media, in my opinion.