Good luck in the ';Cash flow System'; You can find individuals with a mortgage by going to the county recorder's office. You can select all the mortgage loans that son't appear to be institutional mortgages from the regular companies that. Call first to see if there is a charge and how much it cost for each record copied.
Now those that appear to be individual mortgages, normally would be in a 2nd position and recorded after a large mortgage.
These are called mom and pop carry back seconds. These are what you are seeking. Occassionally you will find a first mortgage that is being carried by a private person.
You might not have a list of those that want to sell their mortgages but you will have a list you can mail to and see if they want to sell their mortgages to you.
Now your letter will say you will by the mortgage for all cash and they would be rid of the monthly collections from the one that are paying them.
Another way for you to attract these same people that took back a mortgage on the property they sold is to advertise in your local paper that you buy owner carried mortgage notes.
You might also send letters to mortgage brokers/bankers and tell them of your services that you will purchase mortgages immediately after a loan close that a owner had to carry on his house to make the deal work.
If someone call you, then you are gonna hit them with the I want to purchase your note with a 30-20% discount.
Now you will get some of these individuals to sell their notes to you at the discount you want and that the ';CASH FLOW SYSTEM'; will accept.
What you have to figure out is can you earn a good living doing this and will the cost to do business worth it?
I hope this has been of some use to you, good luck.
';FIGHT ON';How can I find people wanting to sell their mortgages for cash?
I HAVE A MORTGAGE NOTE FOR SALE EMAIL ME KEPPL8@YAHOO.COM
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