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Tip of the Week
Did you know....
Many Note Holders do not know the interest rate,
term or balance of their note. Never take anything for granted; all facts should
be verified and in writing.
Product Highlight
Whether you have never used
an HP10BII calculator before
or if you use a different
calculator
Calculator Secrets will
walk you through the process
of calculating the term,
payment amount, remaining
balance, balloon amount,
interest rate, yield and
much, much more. You will
work through Beginning,
Intermediate and finally
Advanced calculations by
following a simple step by
step process and each new
thing you learn will be
followed by actual
worksheets of real life
transactions for you to
practice on (and we may have
the answers for you also).
By the time you are finished
with this book you will be a
calculator wizard!
Click for more info and to order
TODAY!
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Upcoming Events
March 17, 2012
Chicago, IL
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May 2012
Los Angeles, CA
Secrets of Paper
June 2012
Sacramento, CA
RE and Note Intensive
Fall 2012
San Antonio, TX
Note Symposium
September 2012
Chicago, IL
Secrets of Paper
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or teach to your group or at
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Quote
of the Week
"There
are many wonderful things that will never be
done if you do not do them." ~ Charles D.
Gill
 President's
Corner
A couple of times a year I like
to try and invite non-angling
friends on a fishing trip.
Since I fish bass tournaments I
always am fishing for bass;
largemouth, smallmouth or
spotted. Whether it’s on my
home lake or somewhere else, it
doesn’t matter. My neighbor
John, who is hardly ever home,
was the latest. We fished a
full day from 6am to 4pm and did
quite well each catching about
10 largemouth bass each.
It was on the drive home that
John tried to process what he
had witnessed on the water.
“How do you know where to
begin?” he asked. “There are so
many variables.”
I thought about John’s question
later that evening as I was
stowing my gear along with
another one he had asked: “What
separates the truly great
anglers from everyone else?”
The first question was
relatively easy to answer –
something all anglers go through
whether they realize it or not.
I call it the “decision tree,”
and if drawn on paper it would
look like an upside down
Christmas tree, with lots of
broad questions at the top that
get narrower and narrower as you
fine-tune the pattern.
Let’s say I was given the
scenario like this: largemouth
bass, springtime, clear skies,
temps warming in the 70’s, local
reservoir. So, I think about my
past experiences and knowledge
of bass behavior and put
together a plan in my head for
where I will be fishing and what
I will be using when I hit the
water.
The thought process continues on
the water as I begin to define
not only where I will be fishing
but what – wood, rock, break
line, grass, etc. At the same
time I will be honing my lure
selection, narrowing down type,
size and finally color, often
using my success (or lack of it)
to make decisions.
Now to my point. John asked me
what makes some anglers better
than everyone else. It’s a
tough question, and I’m not sure
I have the complete answer. I
do know that some anglers have a
knack for truly understanding
the fish they pursue and
incorporating that knowledge
into what they do on the water.
What does that have to do with
note brokering and this
business? Well, let’s pose the
question a bit differently.
What separates the truly great
brokers from everyone else? It
is again a tough question, and
again I am not sure I have the
complete answer. I do know that
some brokers have a knack for
truly understanding the
prospects (note holders) they
pursue and incorporating that
knowledge into how they market
for business.
There are a few individuals out
there that simply lead the way
in finding prospects and
converting them into closed
transactions. What’s their
secret? After having met these
individuals and building a
professional relationship with
all of them I can tell you it is
not a specific marketing
technique or even massive
amounts of time in the
business.
Their secret is the ability to
turn the decision process upside
down, sideways, inside-out and
backward, and come up with
answers other brokers simply
can’t or don’t want to. Are
their approaches better? Based
on their success, it’s hard to
argue against them. But I don’t
like the word better; I choose
to just say they approach the
business a little differently
and that little difference is
what makes them successful.
One of the things that I love
about fishing is the luck
factor. Sometimes I can do
everything right and I will
still lose. And vice versa. At
the same time, superior
technique, developed through a
decidedly cerebral approach to
the sport, is what makes others
so good day in and day out.
I think the luck factor is one
of the things I love most about
this business as well.
Sometimes I can do everything
right and I will still not get
the deal. And vice versa. At
the same time, better technique,
developed through a thought
process approach, is what makes
these individuals so successful.
Remember, Success Demands Action! Keep
on marketing, it’s going to work! TWITA!
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Feature Article
All About The Numbers
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When you think about the
note industry the immediate
thought that comes to mind
is that it the business
deals with lots of numbers,
and you would be right! Yes,
the industry does deal with
finance and business and
lots and lots of numbers. In
order to be successful over
the long term you will have
to learn to embrace the
numbers. The numbers you
have to come to grips with
are not only the regular 0-9
digits, but also statistics
as well as (I’m not afraid
to say it) the numbers that
you will compute using your
calculator for analyzing,
negotiating and pricing a
transaction.that...
Read more...
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Question of
the Week
Q
- Hi Jeff,
How do you suggest approaching
people to have them buy notes
with their SDIRA's
(Self-Directed IRA's)? -
Sarah
A
-
Hi Sarah!
Thanks for the question. I
really had to think about this
one because I want to be very
clear yet I do not want to
discourage anyone. The
short answer is that YOU should
NOT approach people to buy notes
with their SDIRA at all.
You do not have the experience
or knowledge yet to educate them
properly about the investment.
It is my personal opinion that
you have no right to even
attempt to sell a note to a
private investor (whether in
their SDIRA or cash on hand) IF
you yourself have never
purchased a note. I also
think that you shouldn't even
think about attempting to sell a
note to a private investor, as
the note broker in the
transaction, when you have never
even brokered one to an
institutional or note investor.
In fact, I do not think you
should even attempt to try to
broker a note to a private
investor unless you have
brokered AT LEAST 100 notes AND
purchase at least 10 notes for
your own account.
There are some individuals out
there that may have extensive
financial and real estate
experience who might attempt to
sell to private investors sooner
but I would say that few few
should. The reason being
that there is no business like
the note business and even
individuals with real estate
experience or a financial
background really know nothing
about the seller financed note
business (how it works, the
hurdles, surprises, risks and
rewards) and should get a good
number of deals closed under
their belt both brokered and
purchased. In addition,
when an individual purchases a
note they should know all about
the investment they are making,
the good, the bad and the ugly,
BEFORE they make an investment
decision.
When I teach people about how to
buy a note for their SDIRA or
other investment vehicle there
is a right way and a wrong way.
When a note is purchased
correctly the investor will
never, ever, ever lose their
money (initial investment) even
in the event of default and
foreclosure, IF, IF, IF the
purchased it properly in the
first place. If a note is
purchased incorrectly (for the
wrong reasons, spontaneously
without doing proper due
diligence, etc) or without
knowing all of the risks the
possibility of losing their
money is very likely.
Just because a note broker is
unable to get a note sold to an
institutional or other
experienced note investor (there
is probably a good reason for
it) you should not try to pawn
it off on some naive individual
investor who doesn't know any
better.
This was a great question.
After being in the note business
over 21 years now please
remember this is only my two
cents on the subject.
Hope this helps!
TWITA!
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