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Tip of the Week
Did you know....
Referral
sources can be a consistent source of leads if you learn to cultivate them
properly.
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September 8, 2012
Santa Clara, CA
Real Estate Investment
Expo - Silicon Valley
October 25-28
Las
Vegas, NV
NoteWorthy Convention
2013
Chicago, IL
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2013
San Antonio, TX
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2013
Los Angeles, CA
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Quote
of the Week
"A
referral is the key to the door of resistance."
~ Bo Bennett
 President's
Corner
Well Labor day has passed and we
are now looking ahead to the
last quarter of 2012. It
is my hope that the information
I have been providing you with
every week this year has assited
you in growing your business.
This week I want to mention
something that several note
investors are enforcing, or
rather, re-enforcing a No Note
No Quote policy. Not all
have adopted this was of
thinking but it is something you
should know about.
Some
note buyers require a copy of the note before they will work up a price
or options for
you on a particular note. Here’s a
few ideas of three nice ways to ask the
note seller for a copy of the note.
"...In
order to give you a sincere price that we can stand behind, we need a copy of
the note so we can see exactly what you actually have to sell..."
"...As
a professional note buyer, I can’t offer a responsible price sight unseen,
without the basic information of what the note says..."
"...It is the best protection
for you from note buyers who
promise you the world in the
form of unreliable quotes and
deliver you nothing but a waste
of your time..."
Again,
you will not use these items all at one time but rather test them out one by one
for yourself on your next several phone calls and see which methods work best
for you.
Remember, Success Demands
Action! Keep on marketing, it’s
going to work! TWITA!
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Feature Article
Cultivating Referral Sources
Referral sources can be a
consistent source of leads if
you learn to cultivate them
properly. When developing your
own network of referral sources,
whether it is attorney’s,
accountant’s, real estate
agents, financial planners or
whomever you are focusing on it
may take some time. They may not
initially understand what you
can do for them or for their
clients...
Read More...
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Question of
the Week
Q
- Hi Jeff,
We met at the presentation that you gave for Renatus in Beverly Hills. I am
interested in working with you. I am a Renatus member who came through their
education and have watched your 2 day Seller Financed Notes class online. I have
a friend who is a mortgage broker. During a recent conversation, he shared with
me that his business has been slowed by the stricter lending criteria that the
banks now require. I explained to him that it may be possible for him to get
deals closed with Seller Financing and that I knew of someone (you) who would be
interested in buying the notes when structured appropriately. I would like to
work with you to help him get his deals closed and develop this as a source of
business. I am confident that if we can work successfully with him, we will get
referral business from other brokers in his office. Thanks, I look forward to
hearing from you. - Simone
A
-
Hello Simone!
Thanks for the email!
I'm glad that you took the time to take the online video classroom Seller
Financed Notes class and that it sparked your interest.
As for working with mortgage brokers, it is not something that is done the way
that you are describing. A mortgage broker can be a potential referral source
for you - for example, if someone were to contact a mortgage broker and ask them
if they know someone that buys notes, that mortgage broker can refer them to
you. We, the note industry as a whole, do not work with mortgage brokers to show
them how to teach property sellers how to carry back a note and then sell the
note to us. Understand that in theory could it work, yes, but when you start to
talk about the reality of trying to convince a seller of a property to carry back
a note and then convince them to sell it at a discount versus waiting for a buyer to come along
who can qualify for a conventional mortgage and give them 100% of their money,
the probability of it happening would be few and far between. In my opinion, you and your
mortgage broker friend would be spinning your wheels. Just trying to give
you the reality of the business.
Hope
this helps! TWITA! ~ Jeff
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notes?
Been trying for awhile with limited
or no results?
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training, mentoring, assistance and support services in the industry! Updated for
2012, click here to start growing your note business today!
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