Armstrong Capital Newsletter
May 2006
Jeffrey R. Armstrong, President, Armstrong Capital
Well, this year is certainly moving right along and with it so should our business. Last month I touched on a few reasons why an accepted transaction might not get to closing, things that can go wrong and reasons why deals get cancelled. For the next few months I’d like to get back to finding the note holders need or motivation. This is one of the most important things and cannot be over emphasized. You can fill out 20 worksheets a day and give out 20 prices to each note holder but the bottom line is that if they do not have a want or a need you will never be able to convince them to take a discount or sell their note. Here are some great ways to find out that need on that first phone call when you are filling out that worksheet:
By playing the victim the customer plays the rescuer:
- “Gee, this looks like a pretty good note. I don’t get it. Why would you want to sell it? Are you aware of the fact that mortgages sell at a discount? Why don’t you just go out and borrow the money?”
- “This is usually not my job. I’m just here to answer the phones today but, if you want I’ll try to help you.”
- “Between you and me, off the record, what were you hoping to get?”
- “I doubt we’d be able to do that but I’ll see what I can do.”
Magic Questions:
- “Your family could use a little extra cash now, couldn’t you?”
- “It would be nice to be rid of this problem, wouldn’t it?”
- “It would be nice to sever all emotional ties to the property, wouldn’t it?”
- “Couldn’t you use $_______ right now?”
You wouldn’t use every one of these questions and comments on one note holder on one phone call but you might try one out the next time you are on the phone filling out a worksheet.
So, the next time you are speaking with a note holder on the phone and you are trying to find out that need, try one or two of these magic one–liners and see if it helps! Next month we will continue trying to find the need with a Five Step Method.
All the Best!
P.S. Hope to see you in Atlanta, GA at the end of this month for Cash Flow 2006, May 25-28th!
Armstrong Capital
800-845-3055
fax 818-865-2323
PO BOX 6517
Westlake Village, CA 91359
visit our website at www.armstrongcapital.com
For more great strategies, don't forget to check out Jeff's informative cash flow books for Scripts, Tips, Marketing ideas and more!
For a complete description of all
Jeff's books just click HERE
today!
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Personal Cash Flow Prosperity |
Every Single Profitable Note Marketing |
Scripts & Tips: |
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Jeff Armstrong is president of Armstrong Capital. He is a member of the Million-Dollar Club, a Master Broker, visiting instructor for the American Cash Flow Institute, and the author of three best selling books. He can be reached by calling 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com, or visit http://www.armstrongcapital.com and click on "Note Brokers" for questions and information about his Master Broker services, Mentorship program how Armstrong Capital can help you succeed.
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