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FIB - Scams 101 - Ye Olde Archives
Posted By: Larry Foster <blackstonecap@yahoo.com> In Response To: Re: I Can Tell You Where To Look First... (Amanda Bennett)
Monday, 13 December 2004, at 10:38 p.m.
I think that site is worth that much. I don't mean to say that to belittle or offend you, just my experience with it.
You are right that there is a lot of work finding notes and some money to be made for them. I have investigated locally and find very few seller held mortgages, but I am in a small rural area.
I do believe the recent easy mortgage money over the last couple years has reduced the need for sellers to carry back financing reducing the number of notes available. Your experience may be different.
In your case and mine,(please see my other post in this thread) we both need motivated sellers. That is the key. Neither of us can make them motivated.
My system with buying houses does NOT require large discounts to work.
I do know people who successfully do the note business and may revisit it when I have a chance.
Good luck with your business.
> First by all means go to the papersource.com just for the e-course. it is
> $13.00 for the course and worth it. (and if maamaw--and the law--- don't
> mind me giving it away I have made copies.
> I started looking into this when my boss started looking for home based
> businesses (his wife has MS and gets board at the house). He however (b-4
> I came back to work, has spent over 6 grand in how to books and other on
> line services.) If any one wants a list of what I have please feel free to
> e-mail me at Mana_beltane@yahoo.com
> Anyway, back to what I was try'n to say...Geting into selling and locating
> "NOTES" and foreclosures is very time consuming. I have spent
> the last month or so doing massave research on this. I agree with Tom on
> this the "no money down this is kinda "bullplop". (hehe)
> Although you can find investors really easy. We have a couple of them.
> They supply the cash flow, we find the properties. (there is more to it
> than that, but that is the bottom line)
> Please for the love of who ever you pray to do not pay for any services
> that say they can get you listings. ( I do have one exception- keep
> reading.)There are many out there that you may have to sign up for but you
> don't have to pay. Case in point www.HAR.com (Houston Area Realitors.)This
> site is local for me but it will give you an idea of what to look for in
> listings. Remember that ALL listings are FREE at the county court house,
> but you might have to pay for copies. To avoid the hassle of court houses
> see if there is a web site for your countie. Ours is
> www.courthousedirect.com they are in several states (mostly southern) try
> there first. Again, at least there you can get an idea of what you need
> and how to get it.
> ------am I being long winded yet?------
> www.foreclosureworld.com is the only Pay site I recommend. It is $535.00
> for a Lifetime membership. at first it was hard to get around in, but they
> give you one person to call (your very own tech) if you have any questions
> or just want to see if you are doing things right.
> Ok, Ok, So if you need help e-mail me. See Mike there are No stupid
> questions here.
> Hope this helps!
> Love
> Mana
> PS. Thanks for the do's and don'ts in here and I couldn't have said it
> better myself. You never know who is gonna have the info you need. It
> never hurts to ask. :)
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