About a decade ago, a cartoon showed foreclosures as this huge wave hitting Wall Street and made a lot of bankers panic. What happened also is a lot of the note buyers vanished. They stopped buying because the paper wasn’t worth what they were used to paying. That’s what sprung up with non-performing stuff that we’ve seen over the last ten years. However, that wave is going to hit again, and you’ve got to be prepared to be buying directly from the source, and it all comes down to three basic principles – calling asset managers, e-mailing asset managers, and following up. On this episode of Note Night in America, Scott shares his six steps to make sure you don’t shoot yourself in the foot when calling banks and reaching out to asset managers to find note deals.

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