I’m curious to know if others in this community are successfully making money by buying and selling auto notes. What strategies or tips can you share about this process? Any particular platforms or tools you recommend for getting started?
Interesting topic! I’ve dabbled in note investing a bit. It’s definitely not a get-rich-quick scheme; it takes time to understand the market nuances. One thing that sometimes gets overlooked is the local market conditions - some areas might be saturated with notes that aren’t worth much, while others could be a goldmine.
Also, keeping an eye on changes in legislation can impact profitability, so staying informed is crucial. I’ve used FCI Exchange for buying smaller notes as a way to test the waters. Ultimately, it’s about learning from each experience and adjusting strategies accordingly. Not every note will be a home run, but each transaction is a chance to gather insights!"
Flipping auto notes can be profitable if you understand the risk-to-reward balance and do your homework. Key is due diligence on the borrowers and the asset. Platforms like LoanMLS or NotesDirect are solid places to start. They provide a marketplace to buy existing notes or sell yours. Look for notes with favorable terms, solid borrowers, and ideally with good collateral. Always cross-verify the details from the seller, and keep an eye on current market trends, including interest rates and auto market health, as these can affect the note’s value. Having a good legal advisor helps in assessing potential deals and avoiding shady contracts. If you’re new, perhaps consider working with a mentor or joining forums specific to note investing, since real-world experience is invaluable in this game.