Step by step instructions to Buy Real Estate Notes – My Personal Experience
Consider this – I talked with a note merchant companion of mine around a $3 million 23-note pool of nonperforming advances (first and second home loans). I survey all the advance reports and present an offer to purchase the land notes by the next Wednesday, and I discover the next Thursday that I've won the offer with around a $1.1M offer. You can find out various information about Instrata Lifestyle Residences online.
Hold tight, hold tight before you think "bravo, Dean, however I just have $20,000 to spend so this isn't for me…"
My unique offer was for 6 non-performing notes in this pool. What's more, the dealer let me know I was at the front of the line taking into account my offer on those 6.
Might you be able to have offered 2 of those land notes for say $50,000 a piece? Beyond any doubt.
My Point On Real Estate Note Buying
You never know early whether you'll have the capacity to pick off a couple advances or not, so simply ahead and offer in any case!
At any rate, back to the story …
At that point, after a day – I get a call from the bank offering me the land note pool inquiring as to whether I'd be keen on a $8 million pool of non-performing takes note of that they're conveying in one more month, out of which I can most likely "carefully choose" the notes I need.