Potential clients of private note holders
The private note holder industry is one of the biggest opportunities available in the market regardless of the economy. There will always 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 finance notes from the seller to create this cash flow. Other times promissory notes are created to facilitate the sale of a property but the holder does not want to retain the cash flow. It doesn’t really matter why they don’t want it. Maybe there are other interests they want to put the money into or maybe they just want to have the cash now. Whatever the reason, there are many private note holders who would prefer to sell the note they hold for cash. For them, immediate cash is king.
If you are looking to work in the IOU business as a broker or as a beginning IOU buyer, then it is important to have the right list of IOU holders so that you can contact these potential IOU sellers. It’s also important to understand what such a prospect list really is and what your expectations should be. It is true that there are many of these ticket holders who do not want to keep the ticket they ended up with. However, it is not true that any company can offer you a list of note holder leads that contains exclusively people who want to sell. Non-Owner Lead Lists are simply public record data that has been collected for marketing purposes.
There are a few important things to understand before you buy a mortgage note holder lead list. The first is to understand the data and recognize it for what it is. With many lead lists, the data is simply pulled from current addresses and updated with the name and address that exists now. This type of list is not a specialized list. When it comes to a more specialized list, such as potential customers of the seller’s financial note holder, the data you are looking for is specific to the document that was registered and not the current name or address. With the list of private mortgage holders, you are looking for data that was often recorded years before. What you are looking for is the action of creating the private note.
Once you understand that data is often “old” data due to the nature of the information requested, you can move on to understanding statistics. Learn about the possibilities of what may have happened since that note was created. The best possible option is that the note has been created and the seller or holder of the note still lives at the same address and no errors were made in the registration and wants to sell.
However it is not always so. Many times the note is created and then the seller moves on. Other times, the house he used as an address is later torn down and a new subdivision created in its place. There are many situations and changes that can occur that can cause the originally registered address to no longer be valid for a shipment. This does not make your list a bad list. After all, you are looking for a specific event and not a specific person, right? You are looking for a note that was recorded. No changes to public record filings are required that will allow you to go after a note holder once they move or the address is no longer valid.
So when shopping for a list of ticket holder prospects, you need to understand the stats and be prepared for them. Because you are looking for a specific event in a public record, 20% to 50% of the note holder’s primary information may no longer be a delivery address. You will receive cards that are returned to you stating that they cannot be delivered. However, of those who reach your goal, you will have a lot of value to help you reach your goals.
