Did you know....

              In the Note Business your shredder is your best buddy. Do not hesitate to use it to get rid of files that will never ever become a transaction.

Product Highlight

       Pump up your marketing efforts before the year ends!  The Art of Target Marketing for Note Holders Video Series with proven & tested Marketing Results for note holders has been getting raving reviews!  In this live video recording of Jeff's 'Art of Target Marketing For Note Holders' workshop Jeff shares with you his most successful tried and tested extreme details of marketing for note holders in TODAY's note world.  This information alone will save you years of experimentation and testing and thousands of marketing dollars. Get on the fast track to success as a Note Broker and watch these videos today!

Click here for more information and to order TODAY at a special price of $99!

Coming Soon

Exclusive

Note-able

Membership

with Videos,

Notes for Sale,

Training,

Tools and

Support!

President's Corner

       After you have obtained your offers from your favorite Master Buyer it is your job to subtract your fee before you present it to the note holder.

            There are several ways that you might want to do this.  Some consultants and brokers multiply a certain percentage by the prices given to them, for example, 5%, 6% 10%, etc.  That is fine, it is your choice.  Others choose to take a flat fee for any deal they do, for example, $1,500, $2,500, $3,000, $5,000, etc. Again, that also is totally up to you.

            Still others choose to find out the true underlying need or want from the note holder and tailor their fees to fit into each situation.  An approach where the number you give to the note holder looks good to you and you make a fair fee. Sometimes it’s $500, other times it might be $3,000 and other’s it might be even more.  But whatever the number is that you are giving to the note holder, it looks good to you. This is the approach that I take.

            It all goes back to getting all of the information on the worksheet and getting the story behind the note along with the story of why they contacted you in the first place.  Was it because they had a need or want or was it because they were just curious.  If they have a need or want I will give them no more than 3 different options with a range of prices for them to choose from.  In doing so I am hoping to hit the number that they are looking for.  For example if I give a note holder an option to buy the next 60 payments for $15,000 they might come back and ask me how many payments I could buy to give them $20,000.  Then you can have the funding source calculate that out for you.  

I hope this helps you with that question of how much you should take on a transaction.  You should take whatever you can negotiate, what looks good to you and what you feel is fair.    However you decide to subtract your fee make sure you present it in the most positive light possible.

Don't forget to join me October 25-28th in Las Vegas at the 26th annual NoteWorthy Convention.  Exciting new information to be shared about the real estate and note industry.

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

Question of the Week

Q - Hi Jeff,

          How long does it take to close on a note purchase?

                                                                                                  ~ Leslye

A - Hello Leslye! 

          Thanks for the email!  It really depends.  The short answer is that from the time we receive all of the information requested from the seller a normal transaction take 4-6 weeks. That's the honest truth.  We routinely close transactions in 3-4 weeks but I do not like to say that to the seller's because then they expect to close that quickly.  I've closed transactions as fast as 10 working days and I've had one transaction take 8 months to close because we had to fix and clear up so many hurdles and surprises.

          Hope this helps!  TWITA! ~ Jeff

If you have missed any of our Newsletters click here for our

Archived Monthly Newsletters!

If you have a note business question you would like to see answered in this newsletter just email Jeff!

Get started in the Note Business with the Complete Note Business Starter Package - the more in depth Secrets of Paper 201 Home Study Course

Your Launching Pad to Success in the Note Business - OR the all-inclusive Note Business ALL-IN Package (all include consultation's with Jeff)!