All Forum Posts by: Glen Stone

@Samuel Pichardo: No I haven't.

@K. Marie Poe: I am talking trustee's sales. From my understanding, the trustees are required to notify all parties of interest, but the owner before the foreclosure may not receive notice because they are out of a home with an address. I was unaware that someone would be able to buy the rights to overages and claim them from the trustee. I am still learning of this overages and how to go about bringing the funds to the owners that were foreclosed on. I am not looking to buy the rights to the overages, but act on their behalf of to get the funds to them. If buying the rights to the overages and claim them from the trustee is part of the process, then that may be something that I will look into further.

I recently came across this new venture of helping people that lost their homes to foreclosure attain the funds that would be due to them in the event of surplus of an auction sale. Although I have not began this venture, I am looking into the process of reuniting the rightful owners to their funds as Michael is doing. I would not charge an outstanding fee to the owner of the funds because it is their money, but I would have a fee just because of the work that would be involved in attaining the fees. The 'rightful owner' may be unaware of these funds, so it is a service to notify the foreclosed owners to let them know they may have funds.

One piece that I am missing is having knowledge of the necessary documents that are needed to be involved with the process from start to finish. If someone can please tell me what forms are needed after getting in contact with the owner in order to process the claims?

When I first heard about the 'note finding' business it was more than a few years ago and it seemed like a fresh idea. Is there a need for a middle man in today's Real Estate note business? In the future I might look into investing in these notes, but in the mean time I would like to know if spending time finding note holders would be wise in today's world of Real Estate.

Thanks Marc, that information was helpful. Russ Dalbey is the one that informed me of this type of business so I have to give him some credit.

A few years ago I had bought into a cash flow system that introduced me to the note finding business. I started out going to the county recorders and collected leads and tried to find note holders. I didn't stick with it due to my circumstances and I never made any money. I am thinking about starting again with being a note finder and later on investing in notes. Can someone tell me what the process is as a "note finder" or note broker after you collect the information on the note? What legal documentation will I need as a "note finder" to conduct business between the note holder and investors?

I am starting off in the "Note Finding" business. I have a lot to learn. I have a question for the note investors who do not deal with Note Finders or Brokers or an intermediary. If an individual spent their time and effort to "find" a performing note with a face value of $500,000 and the note holder was not aware of selling the note but they are willing to sell the note for $50,000 because of the situation they are in and need cash ASAP, would you not be willing to accept the lead from the Note Finder, Note Broker, or intermediary? This might seem like an unrealistic deal, but what I am implying is that if an individual found a note in good standing and it is a good investment for you, would you not be willing to provide a finder's fee?