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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Depends on the state and circumstance Posted by John Behle on June 11, 2003 at 8:23 PM In Reply to: Buying 2nd Trust Deed Notes posted by ken on June 11, 2003 at 7:33 PM I'm not Ward, but know a little about buying notes. Restrictions and laws apply to selling notes. I know of no laws in any state that limit buying. Selling notes is the tricky part. No matter what you hear on infomercials or expensive seminars, there are some restrictions, but they vary state to state and change from time to time. It would be important to know what state you are in and also who you are looking to sell to. There are some exemptions as to who you sell to. Selling to banks, institutions or national note buyers is different than selling to individuals. In most cases you are ok to sell to established note buyers. Securities, mortgage and real estate licensing laws are designed to protect individual investors - the widows and orphans. In some states you are ok if you actually buy and resell a note in your own name. Some draw the line at commissions and referal fees. Basically, it isn't as cut and dried as some would have you believe. They usually have expensive courses, seminars or services related to brokering notes that they want to sell you. If you are looking at brokering notes in a certain state, you need to know and comply with the laws. The good news is most don't have any specific laws. At the same time, the greatest profits in notes is investing in them instead of brokering them. Brokering notes is a job and not necessarily a high paying one. Investing in notes is building towards a future and retirement. The good news is that you can invest in notes and get paid daily to do it. Just as you buy a note for one price and sell it for higher price, you can usually finance it for the same amount. You end up with the same amount of cash up front. It isn't taxable and you have all the future potential of fixing up or improving the notes. It's a much, much better way to go. It's just a process of learning alternative ways to fund and borrow against notes. It's easy to do. Articles and information about notes - the Paper Game Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I'm not Ward, but know a little about buying notes. : Restrictions and laws apply to selling notes. I know of no : laws in any state that limit buying. Selling notes is the : tricky part. No matter what you hear on infomercials or : expensive seminars, there are some restrictions, but they : vary state to state and change from time to time. It would be : important to know what state you are in and also who you are : looking to sell to. There are some exemptions as to who you : sell to. Selling to banks, institutions or national note : buyers is different than selling to individuals. In most cases : you are ok to sell to established note buyers. : Securities, mortgage and real estate licensing laws are designed : to protect individual investors - the widows and orphans. In : some states you are ok if you actually buy and resell a note in : your own name. Some draw the line at commissions and referal fees. : Basically, it isn't as cut and dried as some would have you believe. : They usually have expensive courses, seminars or services related : to brokering notes that they want to sell you. If you are looking : at brokering notes in a certain state, you need to know and comply : with the laws. The good news is most don't have any specific laws. : At the same time, the greatest profits in notes is investing in : them instead of brokering them. Brokering notes is a job and not : necessarily a high paying one. Investing in notes is building : towards a future and retirement. The good news is that you can : invest in notes and get paid daily to do it. Just as you buy a : note for one price and sell it for higher price, you can usually : finance it for the same amount. You end up with the same amount : of cash up front. It isn't taxable and you have all the future : potential of fixing up or improving the notes. It's a much, much : better way to go. It's just a process of learning alternative : ways to fund and borrow against notes. It's easy to do. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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