Armstrong Capital Newsletter

Happy New Year! I hope that you and yours had a terrific holiday season. Now is a great time to look over what you have done last year in your business and make some new realistic business goals for this year. Think about what you have accomplished and where you would like your business to be by the end of the year.

Last month I shared with you a possible script for calling back the note holders who didn’t quite have a need on their initial call to us. Now after following up with them on a consistent basis (every 3-6 months) they will occasionally ask you some questions and you will educate them on the process. One of those questions might be about the closing procedure and how long it will take to get their money.

Closing Procedure

When a note holder asks about the closing procedure or how long it will take before they get their money I respond with the following answer.

“…Upon receipt of complete documentation, we will review your mortgage and contact you if we have any questions or need any additional information. Once we have all of the information we will run a credit check. Once we know the credit is acceptable we will order the appraisal, and once we have an acceptable appraisal we will order the title report and proceed with the preparation of closing documentation and verifications. We will proceed to close as rapidly as possible.

We can usually close a transaction between two to four weeks from the time that we have received all of the necessary information and documentation from you. But, I can't guarantee any time frame because there are things that can happen that are out of our control such as credit problems, appraisal delays, title delays, a lost note, etc. In any event we will work as quickly as possible because we know that is what you want. Time is always of the essence to us….”

Stay persistent as you find your prospects, expose them to the opportunity and educate them with follow up calls and information on your website. When they need the cash they will accept your offers and you will earn the appropriate fees. Next month we will touch on the appropriate packaging of a transaction to send to a funding source when a seller accepts one of your offers.

PLEASE NOTE OUR NEW FAX NUMBER AND ADDRESS
Armstrong Capital
800-845-3055
fax 818-865-2323
PO BOX 6517
Westlake Village, CA 91359
visit our website at www.armstrongcapital.com

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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.