Did you know....

              Overlooked by many, one of the most critical components of success in the note industry is calculator skills and understanding where the numbers come from.

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       This is the continuation to the Secrets of Paper 101. The recording of a live 3-day action-oriented workshop concentrating on Marketing for notes, Calculator Skills and Negotiating. In the Secrets of Paper 201 Home Study Course we expand on the note business process of how to Find them (the note holders), Expose them, Educate them and Support them to earn your F.E.E.S. We further break down the components of the seven basic steps into practical and effective solutions so that you have a hands on workable knowledge of the note business. Once you learn the process and follow the steps correctly you will earn your F.E.E.S. and be able to repeat the process again and again! Click here for COMPLETE details of the definitive Note Business home study course ever created.

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President's Corner

       You've heard it a thousand times from me:  Listening to note holders and building rapport is basic to success in the note business.  It's at the heart of good communication.  But there's one time when you are less likely to listen:  when you don't like what you are hearing.

       It might be when a note holder does not accept one of your price options and you stop listening just waiting to hang up the phone.  But this is exactly when you need to open your mind and give the note holder knowledgeable feedback for them to seriously consider.

       Or it might be when, despite doing your best, note holders become angry and belligerent because you still didn't do more.

       In times like this we need to put our emotions aside and avoid the temptation to become defensive and counter attack.  When a note holder begins venting, maybe just respond with a simple "hmmm."  Then wait for the note holder to ask, "What do you mean by hmmm?"  That opens the door for you to respond by saying something like, " I was just thinking about how important it is for you to get the cash you need now to help you with your situation as soon as possible or else it's just going to get worse.  And I don't think worse would be a good place to go. Don't you agree?"  This invites the note holder to move from feelings of anger to begin working with you.

       Whatever the situation - whether it's over the phone, by email or via social networking - if you don't like what you are hearing, remember it could well be a gift in disguise, a warning signal of issues you need to address that other note holders could be having too, or an opportunity for the future you don't want to miss.

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

Question of the Week

Q - Hi Jeff,

          I am new to the note finding business but I have tried to do as much research on the topic as possible.  I have excel spread sheets sent by my county's deed recorder here in Chicago, of private transactions dating back to March, April and May of 2011.  Each list contains more than 4000 entries and the list comes twice a month. Of course they are not all viable but a great majority of them appear to be.  I see tremendous potential, and I love hunting the potential note holders down in the county deed recorder's records. I am very careful and thorough in researching the documents. While I am not afraid to call the potential clients I have identified, I want to be sure that I have a broker source that would indeed offer them, and me, honesty and fairness.  I am writing today to ask you if an individual note finder can earn $5000 a month?  From the Cook County files, the opposite appears to be true. Since I am new, I am as yet insecure.  Am I wasting my time? Can I make a living from it? Is this naive? - Jacque

A - Hello Jacque!  Thanks for the email!  I'm sorry to contradict what you might believe to be reality but in the true note industry there is no such thing as a note finder. You are a note broker or a note buyer or you are not. You say you have a list of private transactions dating back to March, April and May of 2011, the truth is that those names and addresses are too old. Even if you did do a mailing to them your response would be minimal because they have already received dozens of other letters or postcards from others about their note.  4000 is not a lot, this business is a big numbers game. Most people starting out will send 1000 or so a month to get started and grow from there.  Those lists would pretty much be a waste of your time. Sorry, just being honest.  I work with note brokers all the time, as a Master buyer if we don't buy it I have a list of private and institutional investors that buy notes as well. I believe you are wasting your time looking up records on the county recorders website. If you want to do the business you need to get to the note holders within a couple of months after they carry back there note. After about six months old the response rate rapidly decreases. I use an excellent list company and the note holders that receive my first letter usually have it before they receive their second payment. A note finder can mostly make nothing. For a note broker it will take at least a year of continuous marketing to reach the $5000 per month mark.  As mentioned above the note industry is a real business that you need real time and real money behind you for real marketing to the note holders.  I would venture to guess that less than 200 people in the nation honestly make a living from it. Maybe you can be #201! :)  You are not naive at all, it is a very simple business but not easy. Among other things, it takes commitment, persistence and a good marketing plan to grow and survive in the note business these days.  Hope this helps!  TWITA! ~ Jeff

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