Dealing with Private Mortgage Lender

When a private mortgage investor calls a private mortgage notes holder, he or she would like to hear either Yes or Maybe. Yes is the best answer from a private mortgage notes lender but maybe is not bad either.

If maybe is the answer from the private mortgage notes lender, it is often followed by:

"how much are you willing to pay?"

In this Maybe case, the private mortgage investor should answer the question by saying:

"Great, let me confirm the information I saw at the courthouse"

Then the private mortgage investor should go through the list of things he or she wrote down about the private mortgage and the real estate property from the courthouse. Then the private mortgage investor should say:

"Let me talk to my partner about this and I will get back to you in the next forty eight hours with an offer. If that fair enough?"

Then the private mortgage investor should get off the phone immediately.

Contact private mortgage buyers

After the private mortgage investor talked with the private mortgage notes lender, he or she should contact private mortgage buyers to see what they offer for the private mortgage.