| |
Quote
of the Week
“A pessimist is one who makes
difficulties of his opportunities and
an optimist is one who makes
opportunities of his difficulties.”
― Harry S. Truman
|
President's
Corner
This month I am writing about
ways to build rapport and trust
with note holders. Another
suggestion is to make a friend.
Your first objective is to be
likeable and agreeable, get
along with the note holder and
make a friend.
Your focus is not on showing the
note holder how much you know or
how little he knows, or in
getting into a debate over what
she thinks she needs versus what
you think she needs. Before you
can educate the note holder and
have her listen, or lead the
note holder and have him follow,
you must have a good connection
and rapport.
Building trust and rapport with
a note holder is a big key to
your success in the note
business. Remember, Success
Demands Action! Keep on
marketing, it’s going to work!
TWITA!
|
|
If you need a Valuation Estimate
or an Appraisal of today's cash
value of your secured or
unsecured notes, for the purpose
of Estate Planning, Financial
Planning, Income Statement
Preparation, Balance Sheet
Preparation, or any other
purpose we can help.
Read more and contact us today. |
  
Would You Like to See Your Ad
HERE?
Email Us
Today!
|
|
Feature Article
Keep in Touch
Here are a few reasons why so
many note brokers and cash flow
consultants use postcards for
follow up on a regular basis...Read More...
|
|
Question of
the Week
Q
- Hi Jeff,
I haven't dealt with privately held notes in quite some time. Can you update me
on the basic parameters given today's climate:
1)How many months seasoning required?
2)How much equity required? Last I dealt with this, 20% required, with the
seller having to take back a 2nd note for 10%.
Anything else I should
consider before collecting all the data? No sense in collecting data if the
seller will be unwilling to carry the note for "x" months, whatever the criteria
may be. If it looks like he will be okay with the basics, then we can go ahead
and structure a sale so it benefits all parties involved and is attractive to
note buyers.
~ Richard
A - Hello Richard!
Thanks for the questions. First, know that there is a note buyer for just about
any first position note secured by any type of real estate, the question is,
will the seller accept the discount. We can buy a note with as little as one
month of seasoning with no equity if that is what the seller has. But again,
will they accept the discount or the terms of our offers (full, partial, split,
etc.)? With that said I can give you suggestions for what a good note is on a
residential property. On residential property we would `like to see':
10% CASH down payment / Amortized for 30 years / Balloon in 7 years / 9%
interest rate or higher / 650+ credit score of the payor /
1 months of seasoning
How often do we see what
we `like to see', rarely. So again, this would be the ideal note just keep in
mind that even if the note does not have these terms we will still consider
buying all or part of it. Good question, hope this helps! Hope this helps!
~ Jeff
|
|
So you want to invest in or broker
notes?
Been trying for awhile with limited
or no results?
Check out the most talked about, current and innovative educational tools,
training, mentoring, assistance and support services in the industry! Updated for
2016, click here to start growing your note business today!
|
|
If you have missed any of our
Newsletters click here for our
Archived Monthly Newsletters!
|
If you have a note business question you would like answered in this
newsletter just
email Jeff!
|
|
Get started in the
Note Business with the
Complete Note Business Starter Package - includes consultation's with Jeff!
  
|
|
|
|
