Note Business Tip of the Month 

November 2011

 

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If you have a question you would like to see answered in this newsletter just email Jeff!

*Tip of the Month: 

       Did you know....

           The best way to maintain accurate records is to establish a filing system that works best for you and your business. Alphabetic and numeric are the most common and this is usually determined by the method in which you track your transactions, note holders and investors.
 

*Quote of the Month:

         "There is no substitute for accurate knowledge. Know yourself, know your business, know your men."

                                                            ~ Lee Iacocca

*Question of the Month:

 

Q - Hi Jeff,

          I'm anxious to get started sending out my mailers to look for some notes! I have a question for you before I order my list of names. I'm planning to buy a list of names from a supplier who can let me set some criteria on what notes to order. One of them is the age of the note. Do you have any recommendations on what age notes get the best response? Does this even come into play? Thanks! - Peter

 

A - Hello Peter!

 

YES!!!! the age of the names has a HUGE effect on response.  My statistics over 20 years show me that the fresher (newer) the names the better response you will get. Anything older than 6-12 months you are wasting your time, postage and marketing dollars.

I am so glad you emailed me, this is going to save you and make you a lot of money. Below please find my recommendations for list companies for seller carryback notes. I have been using LPS for the last 8 years and my lists have been great for me. Some note brokers have success with Dataquick as well so they are on the list too. Anyone else... buyer beware! Feel free to contact me for suggestions on specific parameters and better response. Hope this helps! - Jeff

Recommended Seller Carryback List Companies

 

I currently use and have been using Lender Processing Services (LPS) for the last 8 years or so yet some note brokers have success with DataQuick so here is the contact information and descriptions of what they both offer.

 

LPS     – Has records in 21 different states

            - Emails the list to you every month as an Excel Spreadsheet attachment

            - De-Duplicates (if same address and same seller is duplicate they automatically delete duplicates)

            - Can delineate firsts and second position notes (we only want firsts)

            - Can delineate size of note

            - Can delineate type of property

            - They have 5 options, the Basic package is $600 for 5,000 records (12 cents per name), most popular package is $1,000 for 10,000 records (10 cents per record) up to their largest package of $4,000 for 57,143 names (7 cents a name).

 

Aimee Cornett

Business Development

LPS Real Estate Data Solutions, Inc.

Tel:  (877) 436-3282 ext 1151 or (626) 345-1151

Fax: (626) 345-1501

e-mail: Aimee.Cornett@lpsvcs.com 

  

  

DataQuick      – Has records in 42 different states

                        - You go onto their site and download your names every month yourself

                        - Does NOT de-Duplicate names

                        - Can NOT delineate firsts and second position notes

                        - Can delineate size of note

                        - Can NOT delineate type of property

                        - They have 2 options Prepaid $500 includes 7,142 records (7 cents per name) or $100 per month with a 12 month commitment includes 1,666 records per month (6 cents per name)

Mina Kotas
DataQuick
9620 Towne Centre Drive, San Diego, CA 92121
1-800-950-9171 ext 3147
fax 858-597-3147
mkotas@dataquick.com

 

Jeff's Speaking and Instructing Schedule

        Location                                   Date                                             Event  (click for info)           

** My Topic at the NoteWorthy Convention will be: Push The Partials: If you don’t know how, you must learn now! - With up to 80% of full purchase note transactions being cancelled in today’s market only the note brokers and note buyers that are adept at calculating, negotiating and closing partial purchase options will be able to survive and grow their business.  If you are serious about the note business this is a must attend session.  Jeff will share with you updated current statistics of the real estate and note markets as well as show you exactly what it means to Push the Partial! TWITA! The presentation will be on Saturday 11/12 at 1:45pm and then I will be on a Marketing Panel at 3:30pm as well. Hope to see you there!

Contact Jeff today for information about having him Speak to or Teach your group!

Our Fall Specials will be over at the end of November so you only have a couple more days left to take advantage of our Fall Specials for up to 50% off on some of our exclusive products!  We are looking forward to 2012 to be an amazing year in the note business.  Get the knowledge and support you need to prepare, prosper and make 2012 to be your best year ever. TWITA! :)

2011 Fall Specials

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Jeff Armstrong is President of Armstrong Capital. He is a member of the Million-Dollar Club, a Master Buyer, visiting instructor for the American Cash Flow Institute, instructor for Nouveau Riche and the author of several best selling industry books. He can be reached by calling 818-865-2322, faxing 818-449-4840, e-mail jeff@armstrongcapital.com, or visit www.armstrongcapital.com and click on "Note Brokers" for answers, articles and information about his services and how Armstrong Capital can help you succeed.

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