Did you know....

              Focus, desire, effort, knowledge and skill are specific tools of the note industry trade that you must learn to develop through education, association and experience.

Product Highlight

       This is the continuation to the Secrets of Paper 101. The recording of a live 3-day action-oriented workshop concentrating on Marketing for notes, Calculator Skills and Negotiating. In the Secrets of Paper 201 Home Study Course we expand on the note business process of how to Find them (the note holders), Expose them, Educate them and Support them to earn your F.E.E.S. We further break down the components of the seven basic steps (Basic Marketing, Gathering Information, Submit for Pricing, Obtain Offers, Subtracting Your Fee, Presenting the Options and Following up) into practical and effective solutions so that you have a hands on workable knowledge of the note business. Once you learn the process and follow the steps correctly you will earn your F.E.E.S. and be able to repeat the process again and again! Click here for COMPLETE details of the definitive Note Business home study course ever created.

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President's Corner

       Hope your summer is going well! As you might have seen and heard I finally accomplished a huge undertaking.  In the last couple of years it has been hard for people to take time off work, pay for a workshop, cover travel expenses and incidentals to take my live 3 day workshop.  Now you don't have to!  I finalized my Secrets of Paper 201 Home Study Course and I am very proud of how it turned out.  It is by far the most detailed, step by step, in depth seller-financed note business course and, hands down, the definitive note business course in the industry.  With 14 real transactions, negotiating secrets, marketing details, case studies and so much more I have left no stone unturned, no question unanswered and no topic uncovered to share with you the inner workings and practical knowledge of the true seller financed note business.  Now that my SOP 201 Home Study Course is available that also completes the Note Business ALL-IN Package as well that includes the SOP 101, SOP 201 and all of my other best selling industry books.  If you haven't already, check them out and let me know what you think.  Of course as always I am here to help with whatever questions or issues arise in your note businesses.

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

Question of the Week

Q - Hi Jeff,

          Many are convinced that due to the lack of conventional financing that the amount and quality of existing seller financed notes out there is growing rapidly and will continue to do so for the foreseeable future (sounds logical) - The thing that puzzles me is that when i talk to the seasoned pros out there like you - I hear that the mailings draw a much smaller response than in the past and the deals are much harder to close.

          I also sense that the buyers for this product are scarce and have much stricter requirements (Many say the answer here is private lending - to tap into the anxious money coming out of the stock market - sitting in CD''s at 1%). What are your thoughts here?
                                                                                - Gordon M.

A - Hi Gordon! 
          Thanks for the email! You bring up a question I answer several times a week, so let's break it down.
          Yes, I am convinced as well that due to the lack of conventional financing that the AMOUNT of existing seller financed notes out there is definitely growing rapidly and will continue to do so for the foreseeable future.
          However the QUALITY is questionable with the large amount of notes out there. The buyers credit scores are worse than ever, they are putting down smaller down payments and the collateral value (or LACK of) has been a huge issue as well.
          As far as marketing goes, if it is being done properly (not relying on one method but with 3-5 lines in the water) responses are actually better than ever. In my own business my response rates are more than they have been in years.
          In dealing with the "harder to close" deals (due to the above mentioned factors) a note broker and note investor needs to be more open and able to negotiate better. One of the best ways (that I have been preaching for years) is to Push the Partial.
          Even with low down payments, poor credit and low collateral value transactions can still be closed by using smaller partial options where the investors ITV (Investment to Value) is under say 30-35%. I have been using partials my entire note career. My personal statistics show that over 70% of my closed transactions have been some type of partial purchase option.
          Lastly, yes, there has been a reduction in the number of note investors/buyers over the last several years and the remainder of the note investors that are around do have some tighter requirements and for good reason. The note buyers of yester-year were largely buying to securitize the notes on Wall Street. I don't have to tell you how that turned out. In addition note buyers of yester-year didn't have too many issues with collateral value, then the real estate market went down and now they are still cleaning up their portfolios latent with foreclosures and REO's. Note investors in today's market are not going to let that happen again, so their criteria are stricter. As you know, a note investors goal is NOT to get the property back, we want the cash flow to keep coming in.
          The answer to survival and growth in today's note market, 2012 and for the foreseeable future are stricter criteria for the note buyers and for the note brokers it is learning to push the partials as well as building up a network of smaller private individual note investors.

          Private lending is a whole different ballgame (an entirely different sport even) and if individuals want to go that route they should be sure they know exactly what they are doing.  Those are my thoughts! Hope this helps!  TWITA! ~ Jeff

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