As frequent readers of my blog know, my history in real estate investing is long. While I have been investing in real estate since the 1970’s, my interest in real estate goes back to the late 1950’s. My Grandfather Wall was a real estate agent. He received his real estate license in 1957 when a real estate license was first offered in North Carolina. I can recall tagging along with him in some of his real estate ventures when I was a child. The most amateur person has no problem discovering that a house is for sale. When Grandpa Wall started his real estate career, he simply would put a for sale sign in the front yard of the house or land for sale. In some cases, he would put an ad in the local newspaper or hand out business cards or calendars to entice future clients.
Even today in this technologically advanced world, it is not easy to find real estate notes that are for sale. While there is a Multiple Listing Service (MLS) for real estate, there is not a central clearing house for real estate notes. Below I have shared a few ways to find real estate notes for sale:
Direct mail- There are services that can help you discover persons that hold a real estate note. You can buy a list of real estate note-holders and send direct mail to them via post cards or letters. It is a good idea to send mail to these note holders several times a few weeks apart.
Ads- Advertise on social media sites like Facebook, Craigslist, and other means that you buy real estate notes. Be persistent and remember that it might take time.
Online- Build an online presence with a web site, social media feeds, and the like. Advertise the same in your ads. Look like a professional note business and act like a professional note buyer.
Referrals- Network with real estate investors at local real estate meetings, meet ups, and the like. Be in touch with real estate agents, bankers, etc. in your area and give them your contact information. Let them know that you buy real estate notes.
Build your brand- Consistently and methodically build your brand and your note buying business. It will take time but keep at it. Make sure that you are the consummate professional. You build your business by building relationships.
Best wishes in all your real estate and note pursuits.– R.L. Wall