Contacting Private Mortgage Lenders
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When a private mortgage
investor has obtained the phone numbers for
private mortgage notes lenders, he/she should
make a phone call to each private mortgage
lender. It is handy to have a phone script such
as the one shown below when contacting private
mortgage lenders. The private mortgage investor
can say something like the script shown
below.
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What to say to a private mortgage notes lender
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Hello.
My name is
___________.
I was at the courthouse today
and noticed that you provided a private
mortgage on the property located at
_____________________.
My partner and I buy private
mortgages for all cash and I was just wondering
if you would like to sell your private mortgage
for all cash?
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Dealing with private mortgage lenders on the phone
When confronting a private mortgage lender
on the phone, the private mortgage notes lender will either say
to the deal:
On top of these three answers, you may get
something like "it's none of your business", "how did you get
my phone number", or even "don't ever call me again". Don't be
discouraged. It is the nature of the game. Sales people get
much worse responses than that yet some succeed.
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