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How to Find Notes – Finding All the Nonperforming Notes You Want…

How to Find Notes – Finding All the Nonperforming Notes You Want…

May 23, 2008 by notebuyingprofits.com  
Filed under FAQ, Finding, Newbie Topic, Videos

On How to Find Notes:

I get asked all the time ‘But, Dean, how do I find non-performing notes?? Do banks really sell notes to individuals?”

One person just told me “hey, I walked into my local bank branch and asked if they had non-performing notes for sale and they told me “no, we don’t sell notes.”

Well, if you want to get serious about figuring this out – AND shortcut your learning curve dramatically: it’s all in my ‘How to Find Non-performing Notes Course (4 hours+ jam-packed information on exactly the subject of ‘how to find non-performing notes’).
You can watch the first 2 HOURS for absolutely FREE. Take a peek:


Plus: here’s a TIP to get you pointed in the right direction when buying notes: when you’re going direct to a bank or mortgage company – don’t just ask anyone if they have non-performing notes for sale. Ask to speak to the head of Secondary Marketing, or of Capital Markets, or of Loss Mitigation (in that order).

If the bank doesn’t have either of the first two departments, then make sure that you aim straight for the top of their loss mitigation department – you don’t want to get stuck in mid-level manager hell.

And then once you get that person on the phone – tell them that you buy non-performing notes, anything 90 days or more delinquent, tell them where you typically buy notes, and if they ask you for what your typical pricing is, tell them you can price up to, say, 85% of UPB (unpaid principal balance). (You don’t want to kick yourself out of contention for buying notes when you haven’t even gotten a foot in the door, and if the bank’s asking about price, make sure that you convey that you don’t skimp!)

As to the secret of how to get through to the right person – and what it REALLY takes to break through to that bank representative: it’s covered in detail starting at minute 11 of Part 3 (the third hour) of my ‘How to Find Non-performing Notes‘ Course.

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Comments

45 Responses to “How to Find Notes – Finding All the Nonperforming Notes You Want…”

  1. Alex on February 5th, 2009 11:02 pm

    I am an asset manager at a bank and have notes for sale on a one off basis(no bulk)

  2. Taquila Payne on February 18th, 2009 2:01 pm

    ALEX, I aminterested in buying some of your notes that are in default. Please contact me asap. payne_realty@rocketmail.com

  3. Kaleo McCabe on February 18th, 2009 11:36 pm

    Hi Alex, I am also interested in buing some of your notes that are in default please contact me ASAP.

    Kaleo
    hoopakele@yahoo.com

  4. Joe on February 19th, 2009 10:46 am

    I am looking to buy one offs defaulted notes please contact me via email and let me know what you have Im looking for note nation wide

  5. Joe on February 19th, 2009 10:47 am

    JHughis@aol.com

  6. walter wells on February 22nd, 2009 1:19 pm

    Dear Alex;

    I also would like to purchase some notes. Please contact me at wwjr@hotmail.com.

  7. Bernie on March 5th, 2009 7:03 pm

    Alex,
    Please contact me with the note info.
    Bernie
    Boca Raton, Florida

  8. Dennis on March 9th, 2009 2:00 am

    I am also interested in purchasing notes

    Dennis

  9. Brent Gillman on March 17th, 2009 9:51 pm

    Looking for single NPN or bulk groups in the Ohio area.

  10. Jorge on April 14th, 2009 1:45 am

    Hey Alex,

    Please contact me regarding your notes that you have for sale.

    jg@sunsetnotes.com

  11. Florentine Catudan Jr MBA on May 13th, 2009 12:57 pm

    I’m an investor representative that seeks to buy NPNs in $500M bulk. Contact me for immediate consideration.

    fcatudan.vgm@gmail.com

  12. Bachi on July 20th, 2009 5:16 pm

    Hi, All
    I need bank note for commercial properties in major cities. NY is prefered.

  13. Kathryn on October 19th, 2009 5:02 pm

    Dear all,

    I represent a group of investors who will buy Commercial Notes in Default. Contact me immediately at: kathryn.tong@ariesrealestate.biz.

  14. Angie on November 4th, 2009 7:45 pm

    We\’re interested in bulk NPNs and one offs as well.
    Pls send us more details for consideration.

  15. Paul Stiggers III on November 6th, 2009 10:53 pm

    My company has cash to purchase residential and commercial NPN’s nationwide. Please contact me ASAP.

  16. Mark Hyland on November 16th, 2009 9:34 pm

    We purchase nonperforming and performing residential and commercial real estate notes, preferably in Texas or southwest. Also have a default low ltv luxury home in San Jose CA for sale..

  17. Cynthia Kozacik on November 27th, 2009 2:34 pm

    I have investor that would like to buy BULK Properties in Southern California 40 to 50 cents on the dollar is there such a thing.

    Also nationwide.

    Please contact me

    Thank You,

    Cynthia
    949-295-8074

  18. Cynthia Kozacik on November 27th, 2009 2:36 pm

    Alex,

    Please contact me I also looking for single notes.

    Thank you,

    Cynthia
    alohacin1@aol.com

  19. Jason Ballotti on November 30th, 2009 5:00 pm

    All,
    I work for 2 Real Estate Attorney’s who represent several lenders in Fort Myers FL. We have access to their portfolios have bid and closed on numerous notes. Contact me if your interested in commercial notes. Check out our bio’s at http://www.floridafidelity.com .

    Jason Ballotti

    jballotti@floridafidelity.com

  20. Kenya Ellis on December 8th, 2009 7:35 pm

    Hi,

    We are very interested in purchasing NPNs and will close within 72 hours.

    kenyaellis3@yahoo.com

  21. Gary on December 31st, 2009 2:58 am

    We are interested in OHIO NPN’s. If anyone has any to sell in bulk or one offs.

    realestateg@aol.com

    Thanks,

    Gary

  22. Michael on March 6th, 2010 9:07 am

    I will give you an opinion on how much the individual properties in an NPN portfolio are worth on an immediate sale and long-term value basis using underlying collateral comparable market analysis including list of relevant properties, rent/after tax PITI and a review of qualitative factors. Prices negotiable. Will sign NCND. Please give one business day lead time for requests.

  23. Michael on March 6th, 2010 9:08 am

    I will give you an opinion on how much the individual properties in an NPN portfolio are worth on an immediate sale and long-term value basis using underlying collateral comparable market analysis including list of relevant properties, rent/after tax PITI and a review of qualitative factors. Prices negotiable. Will sign NCND. Please give one business day lead time for requests. mcarrigan2007@yahoo.com

  24. Chris Petruzzi on March 6th, 2010 6:30 pm

    I want to purchase non-performing notes secured by real estate in California. Please contact : cpetruzzi@usa.net

  25. Asim Syed on March 10th, 2010 12:21 am

    Hello All,
    I am looking for residential / commercial npn’s in N.California .Need to close fast. Please contact me at the earliest.

    asimsyed1@gmail.com

  26. Tommy Holiday on March 10th, 2010 1:13 am

    We also buy performing and non performing notes nationwide from any Lending Intuition, bank, Company or Organization funding Deal Sizes ($2,000,000 – $30,000,000+). Part of our team is an alliance with Jade Capital Advisors, LLC a private bank to assist in our funding of commercial properties, performing or non-performing. Jade Capitals Advisors primary objective is to meet the need for short-term bridge funding with efficiency, flexibility and professionalism. Jade Capital Advisors provides commercial real estate financing for borrowers in unique and time-sensitive situations anywhere in the United States.

  27. Tommy Holiday on March 10th, 2010 1:15 am

    We also buy performing and non performing notes nationwide from any Lending Intuition, bank, Company or Organization funding Deal Sizes ($2,000,000 – $30,000,000+). Part of our team is an alliance with Jade Capital Advisors, LLC a private bank to assist in our funding of commercial properties, performing or non-performing. Docblue Services & Jade Capitals Advisors primary objective is to meet the need for short-term bridge funding with efficiency, flexibility and professionalism. Jade Capital Advisors provides commercial real estate financing for borrowers in unique and time-sensitive situations anywhere in the United States

    Please Contact me @ 213.382.4379

  28. Richard Michaels on March 12th, 2010 12:56 am

    Hi,

    I am looking for the contact person at OneWest/IndyMac Bank to purchase NPN’s.

    Thank you.

  29. Delroy Cowan on April 15th, 2010 12:56 am

    I am interested in learning more about how to Find and How to buy Non-performing notes

  30. Rebecca Themelis on April 26th, 2010 4:53 pm

    What is the typical commission paid to a broker for an individual note sale?

  31. Alon Shelly on May 2nd, 2010 9:46 am

    Hi Alex,

    Do you have non performing notes on multi-residential and residential real estate in Michigan?

    alonshelly@sbcglobal.net

  32. Ahmad on May 19th, 2010 6:49 pm

    My name is Ahmad and I have a client that is selling two (2) commercial notes. The first is a 350+ units in Pensacola, FL that is an NP Note that is discounted at 50%. The orginal note was worth $7mil and now at $3.6mil. Bank want this NPN gone very quickly. Good tenancy.

  33. LP on May 20th, 2010 8:36 am

    Hi,

    We have access to very good Notes and Investment opportunities in South Florida.

    Feel free to contact us if you are a serious Investor.
    POF and LOI will be needed before any Due Diligence.

    Best Regards,

    LP
    floridainvesting@ymail.com

  34. RAFAEL on May 21st, 2010 5:15 pm

    Looking to purchase NPN in the NY area. will close With-in 3 days.
    Rafael- 516-244-9633- reobuys@aol.com
    Thank you

  35. Ricardo Fojas on June 9th, 2010 7:06 pm

    What bank or lender is allowing note buyers to buy notes?

  36. Mohammed Zaghoul on June 14th, 2010 4:10 pm

    Looking for non performing notes in Los Angeles or Riverside counties.

  37. ONEAL HODGES on June 14th, 2010 9:27 pm

    hello alex do you have any commercial assets or multi-family assets forsale. onealhodges@hotmail.com 256-468-8990

  38. Morris on June 19th, 2010 9:58 pm

    HI, my name is Morris Harris
    My business name is Harris Note Service,and my website is http://www.harrisnotesvc.com.
    I am a mortgage notes finder, purchasing mortgage notes
    Independent contract buyer, carry- back notes
    looking for carry-back notes , 6 mo. or year, 1st Position
    No interest only ,selling price,down payment, notes balance, monthly payment credit: 650
    Mortgage notes, Business notes,Commercial notes, Mobile Home notes
    We purchase partials on mortgage notes.
    Min.$20,000- $100,000 Max. $1,000,000- $2,000,000
    I be happy to help. Thank You !

  39. Bob Coleman on July 8th, 2010 1:37 pm

    I need about $200M NPN P for a hedge fund. Bob

  40. Daniele Lattanzi on July 9th, 2010 1:22 pm

    Hi There,

    My name is Daniel and I was able to establish successfully many direct relationship with Banks and also Private institution that have NON for sales.

    The article of Dean is completely spot-on. If you want to locate NPN the best way to go as he describe. If you just walk to the Bank most of the time they will look at you like you are coming from Mars or something. Going to the right department on the above sequence is a key entrance point. Persistance and not be afraid to ask questions is also another good ingredient for getting your price.

    If you need to get immediate NPN that you would like to buy, through those established relationship I have a large volume of NPN Nationwide for sale (in the order of 100s of them). These can be cherry picked or bought in bulk. I have both residential and commercial.

    If you are an investor or representing a group of Investors interested on buying NPN you can reach me at daniele_notesservice@hotmail.com

    I work directly with each investors and my final goal with each deal is create a swift and profitable transactions for all party concerned resulting in long term relationship and more future transaction.

    Thank you
    Daniel

  41. Owen Foriest on August 1st, 2010 9:57 pm

    I want to uunderstand note buying and need a mentor so I can work the east coast in partnership….little deals at first please…smile..contact me if you are intrested..I’ll raise my own investment capital by the way!!!!

  42. Dale Tiderington on August 3rd, 2010 9:58 am

    I am looking for NPN notes (mostly Ohio but will look at others) if anyone has any for sale. Thanks

  43. Tom on August 25th, 2010 9:40 pm

    Hi Daniel,

    I would like to buy NPNs. If you have them please contact me at your earliest chance.

    Thanks,

    Tom
    gazanik60@hotmail.com

  44. Tom on August 25th, 2010 9:42 pm

    Hi Alex,

    I would like to buy NPNs. If you have them please contact me at your earliest chance.

    Thanks,

    Tom
    gazanik60@hotmail.com

  45. Chris on August 30th, 2010 3:43 pm

    What notes do you have on props in North and South Carolina?

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