Pitfalls of posting a note for sale on the internet

pitfalls-note-sale-internetI will continue now with the pitfalls of “listing” or “posting” a note for sale on the internet with somebody you don’t know well. Now, the real risk comes if this unknown person in cyberspace that you’re “listing” with sells to a private person (the last thing you want to do as a note broker). One very good reason for dealing with institutional funders is that they know more than you, i.e. they perform the due diligence. Conversely, if you deal with a private person, it’s your obligation to do that. And, if the person with whom you’ve listed this note with doesn’t know what he’s doing and/or he doesn’t do the right due diligence, the investor could come back to you some months or even years later. That’s not a problem when you use an institutional funder. Once again, the biggest benefit this business offers is the ability you have to work directly with funders– especially one who will hold your hand throughout the deal. Don’t give that away.

Typically we recommend any of the funders within the Elite Network. So there’s no reason to spend $7000 on a seminar where the selling point is that they’re going to connect you with funders.

In the next Tip, I’ll talk about some of the different ways you can make money in this business.

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