Armstrong Capital Newsletter
June 2008
Jeffrey R. Armstrong
President of Armstrong Capital
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Hello!
June is here and your business should be gearing up for the summer.
Although there is definitely an increase in activity for the note
business we have been seeing several transactions being cancelled or cut
during
the due diligence phase because of low appraisals.
This is happening across the country. One
way we have found to combat this issue is to steer the note holders away
from a
full purchase and towards a partial purchase from the very beginning.
That lowers the investors ITV (Investment to Value) and can help
alleviate the issue of low appraisals up to a point.
The appraisal should still at least come in for the balance of the
note
or higher. We will be covering
this
in detail at the Secrets of Paper workshop in
This month I will begin to share with you the 36+ most common
questions I
receive from note brokers and consultants about how I run my business,
along
with the answers of course. Let's
get started:
1.
How long have you been in the business?
As of this newsletter 17 years, I started Armstrong Capital May
9th
1991.
2.
Do you have an office or operate from home?
I work out of my home.
I
tried to have an office year's ago but I found I was bringing work home
every
night and in addition I never had any note sellers come to my office.
3.
Do you work full time or part time?
Armstrong Capital is a full time business; I usually work 9a-5p
Monday
through Friday. And I stress usually.
4.
Do you have a Real Estate License?
Yes, in
5.
Do you operate under a corporation?
No, at this time I operate as a Sole Proprietor.
6.
Number of employees?
I have no actual employees but I do currently have a company
that does
my direct mail for me and well as a company that processes my transactions
once
a note holder accepts an offer.
7.
Do you function primarily as a principal or broker?
I function as a Private Investor, a Master Broker/Buyer and
as a
Note Broker.
8.
Do you sell notes to Private Investors or Institutions?
Actually both institutional funding sources, private investors
and a
few of what I call back pocket investors.
9.
Do you originate loans?
No, but I do know of people that do originate loans and
refer them
people that call me for loans.
10.
Do you have access to a Credit Bureau?
Yes I do have access to a credit bureau but I honestly do not
use it
very much. Most of the time
the
funding source, investor or my processor will run any credit checks that
need to
be done.
11.
What
equipment do you use in your business?
1 & Computer
Yes.
2 & Fax Machine
Yes, also E-fax.
3 & Answering Machine/voice mail
Yes, both.
4 & Copy Machine
Yes.
5 & 800 Number
Yes, if we can't pay for a phone call what
does that say about us?
6 & Software used
Microsoft Word
Microsoft Excel
T-value
7
-
Calculator
HP 10B-II
12.
Do
you
use Real Estate Agents for finding notes?
From time to time I get some good referrals from real estate
agents. Recently, I have been
trying
to go to a real estate office meeting per month to educate them about what
a
good note is and how to structure a good note as a way to help them sell a
few
more properties per year.
Next
month we will continue with more of the most common questions and answers
from
note brokers and consultants.
Have a
wonderful month; hope to see you in
Jeff Armstrong
Secrets of Paper 201
A 3-Day Advanced Beginner's Workshop for
New and Experienced Note Brokers * Los Angeles, CA - June 27-29, 2008
REGISTER NOW! Only 23 seats remaining!
$695 for an individual
$1,190 for an individual plus a spouse or business partner
($695 + $495 = $1,190)
Or use a faxable Registration Form by clicking here
Jeff's Speaking and Instructing Schedule
Location Date Event (click for info & registration)
Glendale, AZ June 9-15, 2008 Nouveau Riche
Los Angeles, CA June 27-29, 2008 Secrets of Paper 201 Workshop 3-day
Glendale, AZ August 4-10, 2008 Nouveau Riche
Las Vegas, NV August 29-30, 2008 Secrets of Paper 102 Workshop 2-day
Las Vegas, NV October 2-5, 2008 NoteWorthy Convention
"Rainbow Package" - New for 2008!
New for 2008! I've been working on this project since early 2007. All newly redesigned and completely updated for 2008 the total "Rainbow Package" of Jeff's books including Scripts and Tips (with new industry documents disc), Every Single Profitable Note Marketing Idea In The World (almost) (with Note Holders Handbook on disc), Personal Cash Flow Prosperity (with 2 audio CD's), the Note Holders Handbook and the Glossary of Real Estate Note Terms. Purchased separately you would pay $216.22. But today you can get all 5 of Jeff's cash flow books for only $175.00!
NEW FOR 2008! Secrets of Paper 101 - Audio Disc Set - only $99!
Complete recording of SOP 101 beginner's workshop with workbook plus + click here for more info
Only $99 if you order it through this email (regularly $149)!
Since 1989 the NoteWorthy Newsletter has become the Definitive Resource for Experienced Buyers and Brokers of Notes, Mortgages and Other Cash Flows on the Secondary Market. If you are a new or experienced note broker I encourage you to Subscribe to the NoteWorthy Newsletter today!
Jeff Armstrong is President of Armstrong Capital and was the Editor of the NoteWorthy Newsletter from 2006-2008. He is a member of the Million-Dollar Club, a Master Broker/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 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com, or visit www.armstrongcapital.com and click on "Note Brokers" for answers, articles and information about his Master Broker services and how Armstrong Capital can help you succeed.
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