Real Estate Investment

Posts Tagged ‘private mortgage lenders’

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.

What to say to a private mortgage notes lender

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?

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:

• Yes, see Private Mortgage Lender Willing to Sell
• No, see Private Mortgage Lender Not Willing to Sell
• Maybe, see Dealing with Private Mortgage Lender

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.