Did you know...

     Make important note business decisions slowly. Don't take forever or delay things and the opposite do not make quick hasty decisions either. Rather, make an informed decision as quickly as possible. This will propel you to your success in the note business.

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 President's Corner

       Will they or won't they? This is a question that every note professional has on a regular basis about many different individuals. Will the seller say yes? Will the note holder send in copies of documents? Will the seller be cooperative? Will the broker negotiate and get the price accepted? Will the broker take a realistic fee? Will the broker assist during due diligence? Will the investor change their price? Will the note buyer do what he says he is going to do?

          Yes, we all have these questions from time to time in the note business and here is what I have learned.  All you can do is to take care of your own business, the things you need to do on your side and get them done so that the other people involved can do what they are supposed to do. As Robert Kyosaki says, "mind your business."  The more years I am involved in this industry the more that rings true.   

          Remember, Success Demands Action! Keep on marketing, it’s going to work! TWITA!

Question of the Week

Q - Hi Jeff,

          Thanks for the great newsletter and help you have always given.  I had a question that I was recently asked.  Kind of threw me for a little loop. A note holder wanted to sell his note, and a partial was the best decision.  But, I was asked if the original note holder could buy it back from the investor before the term he sold was up. I did the smart thing.  Asked him for some time to get the proper answer.
                                                    ~ Lauren
A - Hi Lauren!
          Thanks for the email! Great question. So ask yourself.. if you bought a partial would you allow the seller to pay you off during the term of the partial? if you did what would happen? It is situational and up to each individual investor to answer for him/herself. If it is up to me depending on the situation I would say a resounding "yes please"! Because what happens to our yield when we get paid off early? It goes UP! We would need to make sure the remainder holder (note seller) understands that we get paid off the principal balance of the payments remaining and not the amount we paid to them. This is accomplished with a "Schedule B" which we normally prepare and give to the note seller during the initial purchase transaction so that the note seller knows exactly how much the note buyer and how much they will get in the event of an early payoff. Hope this helps!
                                                       ~ Jeff

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