Cashflow Notes Leads are a necessary part of your note business. You have to have somebody to contact and somebody to work with if you intend to buy notes or broker notes. If you are reading this article then you likely already know a bit about the cash flow note business or you have at least seen one of the infomercials telling you how much money you can make in this business. Now you are researching to find out what you can about the business and how to make it work. Just like any other business with this one you need leads. You need somebody who will help you make money.
Note holder leads are not hard to come by. You can get the information yourself through public record research if you are willing to put forth the time. If you don’t want to put in the time and effort to learn how to find that information yourself that is not a big deal the information has been gathered already and is available from many companies who will compile it and provide you with the list based on your specifications.
When you decide you are going to buy a list make sure to use your common sense and deal with a company that is really offering you the details you need. You will find some that will make an offer that seems almost too good to be true. They will tell you that they have leads of note holders that are ready to sell. What a great opportunity right? Wrong. Put some thought into this and you will have to accept that it truly is too good to be true. The amount of effort that would have to be put into such an operation to find out if an individual was ready to sell their note is the effort that you put in as a note finder. Would you turn that information over to somebody else or market it yourself?
Your note holder list should not cost you more than perhaps a quarter per lead and can often be as low as ten cents if you get a large list. Remember that this is the life blood of your business. If you are going to put money anywhere at all it should be in a list of prospects that allows you the option of marketing to somebody who has what you need. You will get the best value for your money not from a list of “ready to sell” note holders but from a legitimate lead company who simply gathers the data for you and provides you a list based on your needs.
Mike Wood has been involved with coaching successful investors in the note business since 2001 and has helped many attain their goals.
The Statement of Cash Flows is explained using the Indirect and Direct methods.
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