Did you know....

       A great way to make an attractive follow up call is to begin with language such as, "You said something the last time we spoke that got me thinking."  Then remind them of something they said and offer another benefit you hadn't pointed out before.

Upcoming Events

President's Corner

       Spring is finally here and I’m not going to talk about spring cleaning but over the next 5 weeks I do want to concentrate on Communication.  Many of us have our communication styles so ingrained that we don’t even realize the bad habits we’re engaging in. That’s why I want to draw attention to this issue give you with five tips (one each week of April) that may help you to be a better communicator and and a better note professional!  The second of the five tips – Plan ahead.  This might seem to contradict the tip about listening instead of just waiting for your turn to speak, but it doesn’t have to. If you need to talk to someone about something specific, think about what you really want to say before you approach them. Some people even write out their conversation or practice with other people if they feel like it’s important enough.  By doing this, it will help you to get to your point in a faster and clearer manner and keep the person you’re talking to engaged. You’re also less likely to get emotional and blurt out things that you don’t mean if you go in with a set plan. And who knows, if you plan well enough, you might even be prepared for their response! Remember, Success Demands Action! Keep on marketing, it’s going to work! TWITA!

Question of the Week

Q - Hi Jeff,

          Thank you for sending along the Note Holders Handbook, very helpful.  After reading much about the Dodd-Frank rules, including the article on your website, I had a few questions that your experience and expertise would be helpful. As someone looking to begin brokering notes, I am trying to size up the universe of potential notes that I can market to.  As long as home sellers understand the new rules, they don't seem to be too restrictive.  My questions:
* Do you think the overall number of new seller financed mortgages will likely decrease going forward because of the rules?
* Do most sellers create the notes in their own names today?
* If a seller creates a note under an entity name and has a balloon, will it be a stumbling block to convince seller to transfer that note into their own name in order to sell that note and comply with rules?
* Are most of the notes you see from sellers that only create 1 note in a 12 month period?
Thank you for your time. I'm about ready to jump into this and will be filling out your forms. I can then use you as the source of investors/buyers. Like your Renatus class said...Tenants, Termites, and Toilets are not really a good thing.  I actually can't believe you take the time with newbie's like myself!  Thank you so much.
                                                                                          ~ Mick

A - Hi Mick! 
          My answers are below: 
- No, not at all, I do not think the overall number of new seller financed mortgages will decrease going forward because of the rules. 
- Yes, most note sellers create notes in their own names and they will continue to. 
- It will not be a stumbling block to convince seller to transfer that note into their own name because we won’t ask them to do that.  Rather we will most likely just have the seller sign an affidavit confirming adherence to the rules. We really do not think there will be too many sellers trying to get around the rules.  Most of the note holders carry back notes once in their lifetime. 
- Again, yes,  most of the note holders carry back notes once in their lifetime. 
Glad that I am able to be here to assist you as others were when I was just a newbie too. Always try to share the knowledge if it will help someone else avoid the mistakes I made as a newbie.  Hope this helps! 
                                                                                                     ~ Jeff

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