Note Business Tip of the Month 

May 2009

 

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This year we have added a Question of the month to this regularly scheduled "Tip of The Month" e-letter. If you have a question you would like to see answered in this newsletter just email Jeff!

*Tip of the Month: 

       Did you know....

         If you buy 24 payments of ANY note for 10 times the payment amount your yield is about 103.5% every single time!

 

*Quote of the Month:

         Success is counted sweetness by those who never succeed.      

                                        - Emily Dickinson

*Question of the Month:

 

Q - I have been working with a lady for about two months now who has agreed to take a bid for a land note that she has, but she unable to find some of her original documents like copy of the signed note, and the settlement statement. Is there a way to retrieve these documents from anywhere or are the originals the only ones we would be able to work with to move forward with the brokering process? - Mike S.  

 

A - The first place I have them look is the place where they closed the sale of the property. The Real estate attorney, title company or escrow company may have those documents. After that, if the note is being serviced the servicing company will have the original note. They can also look in their property file, their safe deposit box or anywhere else they put important documents. The settlement statement can be overcome with copies of proof of the down payment. However, the original note is the one document that we have to have, that is the document we are purchasing and it must be an original. If the note is lost the only thing to do is to go back to the buyers/payors and ask them to sign a new (copy of the original) note and usually buyers have no incentive to do that. I hope she can find the note!

 

TWITA!

 

*Highlight of the Month:

 

     I had an note broker call call me up the other day and ask me in

desperation, "When is the note market going to change?" With no hesitation, I answered. "The bad news is, it already has started to change. The next wave is beginning to build."  The real question is, "When are you going to change?"  Are you still trying to attract note holders and negotiate note prices the same old way? Live in the now!  You might be wondering... click here for more...

 

Jeff's Speaking and Instructing Schedule

         Location                Date                          Event  (click for info & registration)       

Contact Jeff today for information about having him Speak to your group!

Jeff Armstrong is President of Armstrong Capital. He is a member of the Million-Dollar Club, a Master Broker, visiting instructor for the American Cash Flow Institute, instructor for Nouveau Riche and the author of several best selling industry 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 answers, articles and information about his Master Broker services and how Armstrong Capital can help you succeed.

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