How to Find Mortgage Notes with Little to No Budget & Get Them to Say Yes to Your Offers

Tara Mastroeni
Published: October 27, 2014 | Updated: January 29, 2023

For note brokers without a budget, effectively marketing your note business and getting the property seller to say yes to your note offer can be difficult tasks. However, even if you are just starting out and don’t have a budget, there are many ways to find sellers and accomplish these goals successfully.

“You’re always going to have an investment of some sort,” says Abby J. Shemesh, founder and managing partner of Amerinote Xchange. “It’s either going to be the time that you put into it or money that you can invest into the advertising of your business.”

Free note broker training courses

Mr. Shemesh has worked in the note buying and note brokerage industry for over a decade. Over the course of his career, he has learned the best ways to find notes without a budget and how to get property sellers to sell their mortgage notes. He shared his experiences and expertise in the note brokerage industry at the Paper Source Note Symposium in Las Vegas in 2014. There he shared the ins and outs of finding property sellers, reaching out to leads, and closing deals.

Here are some of the best ways to find notes and close sales without any budget from Mr. Shemesh:

To view a full video presentation on this subject, please feel free to watch below,  or read the bullet points below.

  • Scour real estate ads

    Scouring real estate ads for sale-by-owners is an effective way to cultivate leads and find properties or small businesses that are willing to carry paper. Look through classified ads, real estate publications, and sale-by-owner websites. Once you make these contacts and explain that you are brokering notes, you can guide the property seller through structuring their note to be sold for top dollar. Then, once you close those deals you’ll have a small budget to work with. Though this success will not happen overnight, making 50 calls can lead to one or two deals.

  • Reach out to courthouse leads

    Another way to find notes is through courthouse leads. This can be done by going to your local county courthouse and compiling a list of note owners who created a seller-financed note in the past six months to three years. Send them a letter explaining your services and how you can help.

  • Attend local business functions

    Attend local business functions within the industry you are targeting, such as a Chamber of Commerce meeting, real estate broker convention, mortgage broker convention, or convention related to law or finance. At these meetings you can connect with professionals who have clients that create notes that they may want to sell.

  • Letters and brochures

    Send letters and brochures to attorneys, CPAs, financial planners, real estate agents, mortgage brokers and business brokers to make their clients aware of your business and services. Many of these professionals have clients who want to liquidate a mortgage or business note.

If you have any questions or you want to broker a note with us, please contact Amerinote Xchange.