Armstrong Capital Newsletter

October 2009

 

 

Jeffrey R. Armstrong

President of Armstrong Capital

 

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        Some good news this month on real estate values! Clear Capital Reports 7.3% U.S. Home Price Gains and Softening REO Influences.  The national home pricing story continues to be a positive one. Clear Capital just released thier September Home Data Index TM (HDI) Market Report, and U.S. home prices rose 7.3 percent from last quarter. Of particular interest to many, they also saw real estate owned (REO) saturation rates decline in 28 out of the 30 major markets reported.

        What does that mean for the note business? Well, if you've been working the note business over the last 12-18 moths you know that a good amount of the transactions that were started eventually got cancelled because of low appraisals.  The more we see real estate values stabilize or go up the more transactions we will be able to close as time goes by.
        Other key highlights include:  National / Four Region Overview: National quarterly price gains reach 7.3 percent, with the Midwest (16.4), South (5.7), Northeast (5.4), and West (3.0) regions all continuing to post gains. The national REO saturation rate (percentage of REOs sold to all properties sold in the last rolling quarter) dropped more than three points since last month’s report to 30.1 percent.
        Metropolitan Statistical Area (MSA) drilldown: REO saturation levels decline with 28 of the 30 major markets improving over last month’s rates. Los Angeles and Fresno return first positive quarterly price gains since mid-2006, while REO properties make up a smaller portion of California sales.  Up from record lows, the Chicago MSA achieves its largest quarterly gain this decade (19.9%).

 

        No one can believe that it is October already, time goes by so fast!  As you know, last month we had our first ever east coast Secrets of Paper workshop in Atlanta, Georgia.  A small group of aspiring note brokers attended one of the most powerful SOP workshops to date. The biggest challenge for note brokers, new and seasoned, is to get the note holder on the other side of the phone to accept our prices so that was one of the things we focused on.  In addition to lots of talk and role playing with different negotiating techniques we were also able to do a live phone call.  As the students listened to me "talk the talk" and "walk the walk" their eyes opened up wide and they took copious notes.  This particular phone call ended with a note holder who was very positive and leaning towards a partial purchase option. Yes, right on the first phone call I had already set the hook now it's just a matter of reeling that note seller in and hoping that the credit, appraisal and title are all acceptable.  It's not easy, it takes time to develop the phone skills necessary to do the business well. Nothing beats learning by doing in this business, except maybe having someone to show you the way.

        A slightly early Happy Halloween to all of you! Talk to you next month! Keep on marketing, it’s going to work! TWITA!

 

Jeff Armstrong

 

P. S. - October Special!!! - As an aide to help you develop your note brokering skills I want to offer to you this month only my complete "Rainbow Package" of books for a very reduced price of $130!  That's over 25% off of the regularly discounted package price.  But that's not all, in addition, if you are one of the first 10 people to order through this email I will also send you the Secrets of Paper 101 four disk audio set (regularly $99) with over 6.5 hours of straight-forward, honest beginning note business basics for FREE.  It includes the good, the bad and the ugly in addition to the myths of today's note business.  These are must have products in your note business library. Full descriptions of the products included are below.  I am only offering this for one month.  To order your "October Special" package just click here TODAY!

Jeff's Speaking and Instructing Schedule

         Location                        Date                          Event  (click for info)       

Contact Jeff today for information about having him Speak or Teach to your group!

Note Business "Rainbow Package"

All newly redesigned and completely updated for 2008 the total  "Rainbow Package" of Jeff's books including Scripts and Tips (with new industry documents disc), Every Single Profitable Note Marketing Idea In The World (almost) (with Note Holders Handbook on disc), Personal Cash Flow Prosperity (with 2 audio CD's), the Note Holders Handbook and the Glossary of Real Estate Note Terms.  Purchased separately you would pay $216.22.  But today you can get all 5 of Jeff's cash flow books for only $175.00!

Order TODAY! 

So, you think you want to be in the note business? Then you need to learn the reality of the business step by step in the Secrets of Paper 101 - Audio Disc Set - A complete recording of the live SOP 101 beginner's workshop with workbook plus + click here for more info 

Only $99 if you order it through this email (regularly $149)! 

        Get Yours NOW!    

Jeff Armstrong is President of Armstrong Capital and was the Editor of the NoteWorthy Newsletter from 2006-2008. A current practitioner in the seller financed note business since 1991 he is a member of the Million-Dollar Club, a Master Broker/Buyer, visiting instructor for the American Cash Flow Institute, Instructor for Nouveau Riche and the author of several best selling industry books.  Visit www.secretsofpaper.com to learn about upcoming workshops and events and  go to www.armstrongcapital.com and click on "Note Brokers" for answers, articles and information about his Master Buyer services and how Armstrong Capital can help you succeed. He can be reached by calling 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com.

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