Hello! Hope you had a wonderful Memorial Day and are ready for the upcoming summer months. I just returned from Cash Flow 2006 in Atlanta and had a great time seeing many of you, visiting with consultants, chatting with past students and meeting with funding sources. If you were able to attend I hope you had a wonderful experience and learned a lot. If you did not attend try to make it your goal to attend next year at Cash Flow 2007, it would be well worth it. You know I’ll be there.

Last month I gave you some statements and one-liners to use to assist you in trying to find the motivation, want or need of the note holder. This month we will continue with that as I explain to you what is referred to as the “Five Step Method”. This is yet another approach to trying to find the motivation and/or need of the note holder:

Five Step Method

1. PAIN

2. PRICE

3. PLEDGE - Paint a picture of how you understand the situation

- A Clarifying step

- “As I see it….”

4. PRESENTATION

5. POSITIVE

*If any step can’t be completed you know there is no deal!*

Example:

NOTE HOLDER - “Hi! I got your letter and I have a mortgage I’d like to sell.”

BROKER – “Great! Do you have a few minutes? I’d like to tell you the steps I’d recommend we use today. First, I want to ask you some questions about your mortgage and your situation or your need. Second, I would like to see if you could afford to fix your situation to meet your needs. Third, I’d like to offer you some possible solutions. Fourth, I’d like to see if any of those solutions would work for you. Fifth and finally, I’d proceed to see if I am able to help you. Are you comfortable with that?

Obviously, these five steps might span several phone calls if not more:

Step 1 is about gathering the information and completing the worksheet.

Step 2 is getting down to the real need, if any. “Gee, that’s a great note. Why would you want to sell that”?

Step 3 is AFTER you have received your prices from the funding sources and are ready to present your adjusted offers AND helps them realize that their expectations are realistic or unrealistic.

Step 4 is for them to accept one of the options you gave them.

Step 5 is the actual process of the due diligence that the funding source will do.

Please keep in mind that you don’t need to use all of the tips I’ve been giving you on one phone call with one note holder. You will have to try and determine which method you are comfortable with and how you want to express yourself as a person and as a consultant/broker. Next month we’ll talk about pacing and leading statements.

Hope this helps!

Jeff

Armstrong Capital
800-845-3055
fax 818-865-2323
PO BOX 6517
Westlake Village, CA 91359
visit our website at www.armstrongcapital.com

For more great strategies, don't forget to check out Jeff's informative cash flow books for Scripts, Tips, Marketing ideas and more!

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Personal Cash Flow Prosperity With Tail Ends: How to Keep a Piece of the action	Every Single Profitable Note Marketing Idea In The World* (Almost)	Scripts & Tips: A Handbook for the Serious Note Broker

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Jeff Armstrong is president of Armstrong Capital. He is a member of the Million-Dollar Club, a Master Broker, visiting instructor for the American Cash Flow Institute, and the author of three best selling books. He can be reached by calling 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com, or visit http://www.armstrongcapital.com and click on "Note Brokers" for questions and information about his Master Broker services, Mentorship program how Armstrong Capital can help you succeed.

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