The private note holder industry is one of the greatest opportunities available in the market no matter the economy. There are always going to be opportunities in this industry for someone to make money. If you know anything about Real estate and the value of the industry then you know about cash flow. If you have cash flow then you have wealth. Many people will start buying seller finance notes to create this cash flow. Other times notes are created to facilitate the sale of a property but the holder does not want to hold the cash flow. It does not really matter why they don’t want it. Perhaps there are other interests where they want to put the money or maybe they just want to have the cash now. Whatever the reason there are many private note holders who would rather sell the note they hold for cash. To them immediate cash is king.
If you are looking to work the note business as a broker or beginning buyer of notes then the right note holder lead list is important for you to be able to contact these potential note sellers. It is also important to understand what such a lead list really is and what your expectations should be. It is true there are many of these note holders who do not want to keep the note they ended up with. It is not true however that any company can offer you a note holder lead list which exclusively contains people who want to sell. Not holder lead lists are simply public record data that has been gathered for marketing purposes.
There are some important things to understand before buying a mortgage note holder lead list. The first is to understand the data and recognize it for what it is. With many consumer lead lists the data is simply pulled from current addressees and is current with the name and address that exists now. This type of list is not a specialized list. When you are dealing with a more specialized list such as seller finance note holder leads, the data you seek is specific to the document that was recorded and not to the current address or name. With the private mortgage not holder list you are seeking data that was recorded often years prior. It is the action of the private note being created that you are seeking.
Once you understand that the data is often “old” data due to the nature of the requested information then you can move to understanding the statistics. Make yourself aware of the possibilities of what may have happened since that note was created. The best possible option is that the note was created and the seller or note holder still lives at the same address and no mistakes were made in recording and he wants to sell.
That is not always the way it goes however. Often times the note is created and then the seller moves. Other times the house he used as an address is later demolished and a new sub division created in it’s place. There are many such situations and changes that may occur that can cause the address originally recorded to no longer be valid for a mailing. This does not make your list a bad list. After all you are looking for a specific occurrence and not a specific person right? You are seeking a note that was recorded. There is no change required to public record filings that will allow you to chase a note holder once they move or the address is no longer valid.
Therefore when purchasing a note holder lead list you must understand the statistics and be ready for them. Because you are searching for a specific event in public record a percentage of 20% to as high as 50% of the note holder lead information may no longer be a deliverable address. You will get cards coming back stating they are undeliverable. From those that arrive at their target however you will have plenty of value to help you toward your goals.