Note Buyers Instead of Traditional Mortgage Brokers
Note buyers are a great way to obtain financing for your next real estate investment. In contrast to the traditional mortgage broker, using a note buyer keeps the transaction private. This is a better route because you will not be sacrificing your personal or business credit to purchase the investment property. In fact, most note buyers do not report to credit bureau’. You might ask, “How can a note buyer take such a risk?”. Well, it’s not really a risk because the transaction contracts have their own set of rules that bypass state laws when a breach of contract occurs. A note buyer is not in the business of funding traditional mortgage loans that require an expensive foreclosure process. Having a note buyer or two on standby is vital to any real estate investor–unless the investor can fund the note themselves.
Note buyers pioneered–the buy a home with no money down revolution. Without note buyers, real estate investing and the real estate market would not have earned the lucrative business reputation that investing in real estate truly is.
Many newbies in the real estate investing business don’t realize how important a note buyer is to them. The overlooking of the role a note buyer plays in any real estate investment consideration is probably the single most reason new real estate investors fail in the business.
Sphere: Related ContentTags: Mortgage Brokers, Newbies, No Money Down, Note Buyers, Private Loan Funding, Real Estate Investing, Real Estate Investment Financing
May 10th, 2008 at 4:17 am
Where can I find a note buyer? I am new to the business and would like to start looking networking with all the right people. I didn’t realize a note buyer was so important.
May 10th, 2008 at 4:26 am
Property managers would be a great place to start. Most property managers already have plenty of note buyers handy; and are usually more than willing to share their phone number with you because they know if you invest, you will more than likely use them to manage the property. Professional-To-Professional-Networking is key to the success of any real estate investor.