Update: Note Trader Exchange, is no longer updating listings, check Paperstac instead.
Unfortunately, Note Trader Exchange has stopped updating their listings. Check out our review of Paperstac and their brand new mortgage note marketplace.
Jeff Bennett’s new digital note trader exchange platform is unveiled in this episode, providing users with a streamlined process for investing, and early access to what could become one of the fastest growing tech tools in the industry.
The Democratization of the Mortgage Note Business
In 2007 Jeff Bennett moved from being a full-time programmer to the real estate business. His company began buying around 6 houses a month, and started offering seller financing, before graduating to becoming known as ‘The Note Coach’.
After witnessing and experiencing some of the challenges note investors run into first hand, and through his students, Jeff decided to pioneer a solution. Along with his partner Craig, he built the NoteTraderExchange.com from the ground up. You might call it “eBay for buying and selling notes.†What it really does is to simplify and streamline the process for both sides; bringing together and connecting people so that they can operate more efficiently and enjoy elevated profits and value, from the savings that this technology provides.
Fast Track Your Note Business
The automated processes built into this system mean buying and selling notes without hassle, while delivering a direct connection between buyers and sellers. Enhanced speed is also achieved by eliminating broker chains so that principles can deal direct, and those with less capital can find it easier to get into the note business safely, and access profitable deals nationwide, or locally.
Note buyers get their own dashboard with customizable watch lists, online bidding tools, access to seller declarations, property info, and initial due diligence online. One click will connect to county records, ordering title, sending questions and messages direct to note sellers, and the ability to see any competing bids. Once under contract, it is a simple 6 step process to get to acquisition. Buyers can auto populate LOIs, electronically sign all docs and contracts, and if desired; order well-priced AVMs, E&O reports, and title insurance from a national provider, right from within the dashboard.
Note sellers enjoy similar automation, with the ability to upload or import notes for sale and related docs, set reserve amounts, and soon will be able to counter offer online as well. The platform already boasts 10,000 plus note buyers ready and eager to acquire new inventory, fast.
Watch Now & Learn How To:
- Get the mobile app
- Access upcoming inventory of REO and discounted properties
- Get free top level phone support
- Make offers on great notes in seconds
- Convert and import note inventory from any existing format
- Make smart bids without over paying
- Hone in on your ideal non-performing loans in seconds
