Armstrong Capital Newsletter

February 2007

 

Jeffrey R. Armstrong, President, Armstrong Capital

   

Hello! J  I hope your new year has started off with a few new deals!  

 

Over the last 5 months, we started to look at the different property types that notes are secured by.  We looked at the different situations and the additional information that funding sources would like to know to initially give you accurate pricing.  We have covered Residential, Mobile Homes with land, Condominiums, Commercial properties and land.  This month we will cover some additional questions to ask the note holder when the property was sold with No Down Payment.

   

Situations & Information Needed – Part 6

Properties Sold With No Down Payment

 

As you are talking to the note holder you will come across many types of properties and situations.  Following are some good questions to ask and answers to get in addition to the information on your mortgage worksheet when the property was sold with no down payment. 

No Down Payment Transactions

 

-         Too many negatives.  Need some positives to help outweigh the negatives.

 

-         Why did you sell the property with no down payment?

   

-         Why didn’t the buyer’s give a down payment?

   

-         What will motivate the buyer’s to keep making payments if a financial hardship situation arises?

   

-         How is the payor’s (buyer’s) credit?

   

-         What does the payor (buyer) do for a living?

   

-         Is the note current?

   

-         Have the payments been on time?

   

-         Street Address and nearest cross street?

    

-         Is the property in a good neighborhood?

   

-   Describe the area, across the street, adjacent and behind the property

   

-         Is the property a fixer upper?

   

Keep in mind, what you are trying to do while completing the worksheet is to get the story behind the note.  The more information we get up front the more likely the prices we get from the funding sources will not be cut later on down the road during the due diligence process.  You will save yourself and the funding source lots of time and wasted effort by just asking a few pointed questions.  Next Month we will look at some key questions to ask when the note holder calls you and tells you that they are holding a note in second position.

 

Keep on marketing, it’s going to work!  Hope this helps!

Happy Valentine’s Day! J

Jeff

Armstrong Capital
800-845-3055
fax 818-865-2323
PO BOX 6517
Westlake Village, CA 91359
visit our website at www.armstrongcapital.com

New For 2007!

Click here for information on our Marketing & Website Programs!

 

Jeff is also the Editor of the Noteworthy Newsletter, a printed monthly publication.  If you are new or experienced in the Cash Flow Industry I encourage you to check out and subscribe to the Noteworthy Newsletter, an indispensable newsletter for Note Brokers, Note Buyers and Real Estate Investors. Just click here and then click on "Newsletters" at the top of the page.

***Free gifts when you subscribe***

Jeff's Speaking and Instructing Schedule

         Location                Date                          Event  (click for info & registration)       

*Tuesday February 13th @ 7:00 p. m. Sharp! @ Lakewood VFW 2805 South Street, Long Beach, CA 90805 - (562) 630-5009.  For more info contact ACFA LA Chapter President, Ben Clark, at bussys@sbcglobal.net or call him at (714) 531-9355.

 

For more great strategies, don't forget to check out Jeff's informative cash flow books for Scripts, Tips, Marketing ideas and more!

For a complete description of all Jeff's books just click HERE today!
 

                  

Personal Cash Flow Prosperity
With Tail Ends: How to Keep a
Piece of the action

Every Single Profitable Note Marketing
Idea In The World* (Almost)

Scripts & Tips:
A Handbook for the Serious Note Broker

Purchase the "Consultant Combo" which includes "Scripts and Tips", "Every Single Profitable Note Marketing Idea In The World (almost)" and Jeff's newest release "Personal Cash Flow Prosperity"!  That's all 3 cash flow books today for only $135.00!

Includes FREE Glossary of Private Mortgage Note Terms too!

All Books Now Available as E-Books, click here for E-Books!

If you missed any of Armstrong Capital's E-letters just click here to read our Archived Monthly Email Newsletters!

Jeff Armstrong is president of Armstrong Capital and Editor of the NoteWorthy Newsletter, www.noteworthyusa.com.  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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