www.armstrongcapital.com

October 24, 2012

www.secretsofpaper.com

Volume 1          Note-able Newsletter          Issue 43

President's Corner - Tip of the Week - Weekly Quote - Feature Article

Upcoming Events - Subscriber Question - Product Highlight


Kick Start or rejuvenate your Note Business

check out our 2012 Extreme Fall Specials!


 
Tip of the Week

        Did you know....

              In the note business, love the note holders who give you objections for they may be telling you what you are doing wrong.


Product Highlight

       Redesigned and completely updated the Note Business Complete Starter Package includes:

* Secrets of Paper 101 audio set (Beginner's Introduction and Overview of the Discounted Note Business) * Scripts and Tips (with industry documents disc)

* Every Single Profitable Note Marketing Idea In The World (almost) (with the Note Holders Handbook on disc) * The Original Note Holders Handbook (to customize and use as your own) * Personal Cash Flow Prosperity (with 2 audio CD's) * Calculator Secrets (with over 60 transactions to learn and practice on) * FREE Glossary of Private Mortgage Note Terms! * FREE 14 Steps to getting your note business started!

Click for more info and to order TODAY!

Upcoming Events

 

October 25-28

     Las Vegas, NV

     NoteWorthy Convention

 

2013

     Chicago, IL

     Secrets of Paper

 

April 25-28, 2013

     Las Vegas, NV

     Paper Source

     Note Symposium

    

2013

     Los Angeles, CA

     Secrets of Paper

 

Ask Jeff to come and speak or teach to your group or at your event!


Coming Soon

Exclusive

Note-able

Membership

with Videos,

Notes for Sale,

Training,

Tools and

Support!


Quote of the Week

 

“Courage is the power to let go of the familiar.” – Raymond Lindquist


President's Corner

       With so many note brokers and investors using email and the internet in their businesses I’d like to address email communication.  The advent of email began an era of immediate communication. It is also an era of shortened attention spans and fierce competition.  While technology allows you to get your message through, how can you be sure it’s receiving any attention?  Here are some tips:

            - Before writing an email, ask your self, “Why am I writing this?” When you have the answer, state it clearly and concisely, right at the beginning of your message.  I receive countless emails every month that are mere fragments of what the sender is trying to get across to me resulting in questions and more emails going back and forth and wasted time.

            - Use correct grammar and punctuation, and proof read the email message for typos before you hit “send”.  Nothing is as urgent as you think. Sending emails using “texting” shortcuts and abbreviations is very unprofessional.

            - Edit your message. Make sure you told the reader what they need to know to make a decision or take action and that you have eliminated any unnecessary information.

            - If you need to include any supporting information, use easy to see bullet points or short paragraphs.

            - Write a subject line that tells the reader exactly what the message is about and allows the reader to file or find the message easily.  At the very least put in one or two words like “quote please”, “info needed” or “quick question”.  An email with “no subject” usually gets deleted.

            - Check the tone. Read over the message to make sure the tone is not likely to be too abrupt or otherwise offend the reader. A subject line or email text in CAPITAL letters may be taken as screaming, yelling and offensive.  Keep it amicable and professional, you don’t want to burn any bridges.

            - Use active, clear, concise language.  Avoid passive language that can weaken your message and confuse readers, pompous language that can get in the way of your message, jargon that readers might not understand and unnecessary words that clutter up the email.

            - Make sure the subject is appropriate for email. If the content is sensitive or confidential, use another communication method (phone or in person) rather than sending an email. 

            The bottom line is that when you are communicating in the note business via email, keep it professional.  Even though we get to work in out pajamas or our shorts and t-shirts just remember that this is a real business so treat it as such.  Success Demands Action! Keep on marketing, it’s going to work! TWITA!


Attend the NoteWorthy Convention in Las Vegas October 25-28, I will be speaking there along with others from the Note Business (performing and non-performing sides) as well as other Real Estate Investing & marketing experts!


Feature Article

Purchase of Notes - FAQ

          The term “private mortgage notes” (aka seller financed notes, purchase money mortgage, includes any mortgage notes or deeds of trust held by a private individual as a Seller Carryback note. Seller Carryback notes are created when the seller of a property agrees to carry back the financing for the buyer of the property to facilitate the sale of that property in the form of a promissory note. That note is... Read More...


Question of the Week

Q - Hi Jeff,

          I received a phone call from a client who normally sells notes. Today he is the payor on a real estate note.  He is selling the property for $825,000.00 with a $300,000 down payment. He still owes $519,000.00 on the present note.  How can we make this deal happen?  The property is technically a commercial property because it contains eight cottages that bring in an income of $96,000.00 annually.  It is located in Hampton Bays NY, an upscale community on Long Island.  Your input would be greatly appreciated.

                                   ~ Marc F.

A – Hi Marc! 
            Not sure what you are looking for here but how's this: 
Sales Price $825,000 
Down Payment $300,000 CASH 
Carryback Note $525,000 (wrap around existing $519K) 
            The ideal structure would be term 30 years at 9% interest rate with a balloon in 7 years. The payment would be $4,224.27 and the balloon in 7 years would be approximately $491,612.  For that note we might pay $411,542.  SO, if you give them $400,000 for their $525,000 note they would have to put in $119,000 to pay off their underlying $519,000 existing mortgage.  Now, if the seller can convince the holder of the underlying to accept less than the $519,000 pay off then that's up to them!  
 
         Hope this helps!  TWITA! ~ Jeff


So you want to invest in or broker notes?

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