Armstrong Capital Newsletter
December 2007
Jeffrey R. Armstrong
Editor of the NoteWorthy Newsletter
President of Armstrong Capital
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So why is it that in our little niche that our investors and
funding
sources only buy the Seller Carryback notes that are these “Purchase
Money
Mortgages”? To review, it has to do with the differences between
negotiable
instruments and contracts and the definitions of being a “good faith
purchaser” and a “holder in due course”. Basically
when we buy a note the payor must pay us even though they may have some
grievances, arguments or even litigation against the seller of the note
and
cannot offset their compensation from the note itself.
This month I just want to clarify some terms and the documents
that
we
purchase.
The Note states the repayments terms of the loan including the
term,
interest rate, payment amount, start date and end date.
This Note might be called a Promissory
Note, a Real Estate Lien Note, a
Mortgage Note, etc., but no matter what the name, it is still the
Note.
The Note is secured to the property with a Security
Instrument. This Security
Instrument might be called a Deed
of
Trust,
a Mortgage, a Land
Contract,
an Indenture, etc. but no
matter
what
its name, it secures the Note to the property.
The Note is the “paper” that we are buying and is not
recorded.
The Security Instrument is recorded in the county courthouse of
the
subject property and lets the public know that there is a Note attached
to
the
property.
There is also a document that shows the transfer of the property
from the
seller to the buyer. This is
called
the Grant Deed and is called so because the seller is “granting”
the
property to the buyer for consideration (money) and the ownership of the
property transfers from the seller to the buyer. This document is called
a
Grant
Deed, a Warranty Deed, a Warranty Deed
with Vendors Lien, etc., but they all “grant” the property from the
seller to the buyer and the ownership transfers.
Grant Deeds and such ARE NOT the “paper” we are purchasing.
So, I hope
that
explanation helps you understand better of what “paper” we are actually
trying to purchase from the note holder’s that contact you. Next
month we will start to talk about earning F.E.E.S. and the general
process
of
the note business.
Keep
marketing,
it’s going to work! J
Jeff Armstrong
Since 1989 the NoteWorthy Newsletter has become the Definitive Resource for Experienced Buyers and Brokers of Notes, Mortgages and Other Cash Flows on the Secondary Market. If you are a new or experienced note broker I encourage you to Subscribe to the NoteWorthy Newsletter today! This is an indispensable newsletter for Note Brokers, just click here and then click on "Newsletters" at the top of the page.
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Jeff's Speaking and Instructing Schedule
Location Date Event (click for info & registration)
San Jose, CA December 15, 2007 Selaro REIC (9:30am-10:45am)
Los Angeles, CA February 2008 Secrets of Paper 201 Workshop
San Francisco, CA May 22-25, 2008 Growing Wealth Convention
Las Vegas, NV October 2-5, 2008 NoteWorthy Convention
NEW FOR 2008! Secrets of Paper 101 - Audio Disc Set
Complete recording of SOP 101 beginner's workshop with workbook plus + click here for more info
Includes FREE Glossary of Private Mortgage Note Terms too!
AC Newsletter subscriber initial offering special only $99 if you order from this email! (regularly $149.00)
You must order from this email for this special $99 price. Happy Holidays!
ALSO NEW FOR 2008! Note Creation Handbook
$29.99
A must for anyone in the real estate industry especially Realtors, Mortgage Brokers, Rehabbers, Real Estate Investors, Real estate agents, Real Estate Brokers, Financial Planners, Commercial Brokers, Business Brokers and Note Brokers. How to create a saleable Seller Carryback note in today's real estate market. Order Now to stay ahead of the pack!
"Rainbow Package" - New for 2008!
New for 2008! I've been working on this project since early 2007. 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), Note Holders Handbook and the Note Creation Handbook. Purchased separately you would pay $216.22. But today you can get all 5 of Jeff's cash flow books for only $175.00!
Includes FREE Glossary of Private Mortgage Note Terms too!
Order NOW!
Cash Flow Business Marketing Assessment
Click here for a complete description of the Marketing Assistance Programs
For more strategies and up to date cash flow information, don't forget to check out a complete description of all Jeff's books and products just click here today! All books available as e-books, click here for E-Books!
Jeff Armstrong is the Editor of the NoteWorthy Newsletter, www.noteworthyusa.com and 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 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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