Did you know....

              Offering partial purchase options together with a full purchase separates you from your competition?

Product Highlight

       There are thousands of notes waiting to be purchased, but most of them are junk. Finding the good ones is like panning for gold. You have to wash a ton of gravel to find a nugget.  What does this mean? It means that you must have a marketing plan in place that will generate a steady flow of notes for your consideration. A powerful marketing plan!  Learn the secrets that top note brokers have been using to build a successful note business. Feel free to copy and adapt the many ideas in this book. Included is a CD Rom with the "Note Holders' Handbook" which you can make your own, and use in many different ways to get notes flowing to you like steel to a magnet!

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President's Corner

       Years ago I saw an episode of Seinfeld that I thought was right on point.  It was the episode where “everything evens out.”  Do you remember that one?  Jerry loses a girlfriend and the next week already has another one.  One friend is up and the other one is down. Jerry lost a booking for a show and a couple of hours later someone called to book him on an even better show.  Just to prove it to Elaine, he threw a $20 bill out the window and a few days later he put on an old jacket and there in the pocket was a $20 bill! 

          Ok, it was just a sitcom; but his attitude was what I liked about it the most.  Since then I have been told by family members that I have become that person whom everything evens out for and I attribute it all to attitude.  If I lose a deal I start another one the same or next day, if one deal develops an issue another deal gets an issue solved or if I have a bad day of fishing I can count on having a good day of fishing the next time.  It always evens out. So for me, getting upset over not getting prices fast enough, losing a deal, having to pay a few more costs or other issues that might come up doesn’t help anyone. When I keep the same attitude of “that’s ok, don’t worry about it, everything always evens out,” it just seems to keep my attitude in check.

          My final thought for you on Attitude: “Attitude is a little thing that makes a big difference.” – Winston Churchill.  Make sure you attend this year’s convention to meet, mingle and network with those individuals who have the right attitude for the note industry.  

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

Question of the Week

Q - Hi Jeff,

          How do you suggest approaching people to have them buy notes in their "Real" Self - Directed IRA/401K?

                                                                   ~ Sarah D.

A - Hi Sarah!

          Thanks for the question. I really had to think about this one because I want to be very clear yet I do not want to discourage anyone.  The short answer is YOU should NOT approach people to have them buy notes in their SDIRA, you don't have the experience or knowledge yet to educate them properly about the investment.

          It is my personal opinion that you have no right to even attempt to sell a note to a private investor (whether in their SDRIA, self Directed IRA, or just cash that they have) IF you yourself have never purchased a note.  I also think that you should even think about attempting to sell a note to a private investor, as the note broker in a transaction, when you have never even brokered one to an institutional or note investor. In fact, I do not think you should even attempt to try to broker a note to a private investor unless you have brokered AT LEAST 100 notes AND purchased at least 10 notes for your own account.

          There are some people out there that have extensive financial and real estate experience who might attempt to sell to private investors sooner but I would say very few.  However, there is no other business like the note business and even individuals with real estate experience or a financial background really know nothing about how the real  note business (how it works, the hurdles, surprises, risks and rewards) and should get a good number of deals under their belt both brokered and purchased.
          In addition, when an individual purchases a note they should know all about the investment they are making, the good the bad and the ugly before they make an investment decision.
          When I teach people about how to buy a note for their SDIRA or other investment purposes there is a right way and a wrong way.  When a note is purchased correctly the investor will never, ever, ever lose their money (initial investment) even in the event of default and foreclosure, IF, IF, IF they purchased it properly.  If a note is purchased incorrectly or without knowing all of the risks, and rewards the possibility of losing their money is very likely.
          Just because a note broker can't get a note sold to an institutional or other experienced note buyer (there is probably a good reason for it) you should not try to pawn it off on some naive individual investor who doesn't know better.  After being in the note business for 21 years, this is just my opinion and two cents on the subject.  I hope this helps.  

          Good question, hope this helps!  TWITA! ~ Jeff

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