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It’s getting more competitive out there in the mortgage note business. If you want to get started in this industry, or just maintain and grow the success you’ve been tasting, it is going to take more effort. You’ve got to be seen, known, and connected if you are going to make it.
Check out these seven tips for finding more note sellers, buyers, and investors...
1. Be Easy To Find Online
One of the most obvious ways to get noticed and attract more business is to show up more online. Show up when your ideal prospects are on Facebook, when they are reading the news, and when they are searching Google for notes to buy or when note buyers want to sell paper assets too.
Do this with nice looking landing pages, consistent blogging, regular social media activity, online ads and up to date Search Engine Optimization.
2. Create a Database & Stay in Front of Them
Make sure all of your contacts are going into a database - one which is well-labeled so you can contact them with valuable information later. Then follow up with emails, texts and phone calls when you are hungry for inventory or have good investment opportunities for them.
3. Attend Events
Hosting, attending, and speaking at events non-stop like you are on tour can burn you out. Yet, it is also a great way to continually make new connections and build real relationships. You might go to some of the top national note training events and conferences and find inspired and new, eager investors eagerly looking to buy notes on the spot.
4. Become the Preferred Lender
With the market changing, some note investors are going to transition to originating more of their own loan notes. One great way to do this at speed and in volume is to become the preferred lender for property vendors who are selling a multitude of deals on a regular basis. Many have been insisting their clients pay all cash. If you can come in with 50% financing, they can sell 2x as much, even faster, creating a win-win-win for everyone.
5. Become the Go-To Authority
Become the go-to authority and expert in your local area and niche. Then people will seek you out when they are looking for deals or want advice on selling theirs. You can create a podcast show or host a regular column in the local paper to do this.
6. Make Rounds, Build Up Referrals
There is so much you can do online today. Yet, it is still in-person relationships and contacts that can lead to the best real deals. Don’t be afraid to show up. Build up your referral base with mortgage brokers and bankers, servicers, property managers, Realtors, and others.
7. Stay in the Press
There’s a reason that celebrities do a lot of crazy stuff. It’s so they stay noticed and don’t fade out into oblivion. You don’t have to copy those wild antics, but you can stay in the media with regular press releases heralding your own success, milestones, acquisitions and hires.
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