Armstrong Capital Newsletter

October 2010

Jeffrey R. Armstrong

President of Armstrong Capital

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Hello! As you have probably already heard the Secrets of Paper 301 workshop at the end of September in Los Angeles was a huge success.  Never before had so many note investor tips, information and secrets been shared. Thank you to all who attended and shared the experience.  Some of you still owe me your Marketing Plans and your Note Investor Criteria sheets too! You know who you are. :)

I hope you had a great September! Fall has arrived and the last three months of the year have traditionally been great for the note business.  Lots of people need money and will sell their notes to get it. To continue with my list from last week to assist you in staying focused I have compiled a few things for you to think about as adapted from www.americanequityfunding.com to enhance your note business:

Five Costly NOTE INVESTOR Mistakes

1.    Avoid Liabilities – Never sign recourse; Have your seller sign if a deal seems risky.  Keep debt low.  Hire good counsel.  Pay your taxes when they are due. Get liability insurance if you own notes.  As your portfolio grows you may need force placed insurance.

2.    Beware of Daisy Chains – Always have direct contact with the note seller.  Never send a note to a broker who in turn sends it to other brokers, who send to other brokers.  There are not that many real buyers in this business.  Find them and deal directly with them. There are a few good Master Buyers who also buy notes. They can help you get started in the industry.

3.    Get a Return On Your Investment – Expect a return before you spend a dime.  Use logic supported by facts and figures when making marketing and investment decisions.  What can you do that others may not? Emphasize that aspect at every opportunity.

4.    Remember the Small Deals – Many individuals have gone broke chasing the big deals, while not spending enough time on smaller notes.  You must be able to separate the big deals that have a chance from those that are not doable.  This only comes with practice and experience.  Small deals are your bread and butter.  Small deals are defined as anything under $250,000 with the vast majority being under $50,000.

5.    Avoid Scams – Watch for red flags and Waldo’s, such as front men, someone who comes to you with all of the documentation, overly bold statements, got to close tomorrow, etc.  Don’t assume anything, verify everything.  Pay attention to the details or hire someone who will.  Be a good listener.  Ask tough questions and verify the answers.  Don’t have more than one broker between you and the note seller and make sure you have direct access to the note seller.  Listen to that little inner voice, it’s probably right!

That's it for this month, have a wonderful October! Keep on marketing, it's going to work! TWITA!

Jeff Armstrong

PS - NoteWorthy Convention Update! I’ve gotten quite a few questions about next month’s Noteworthy Convention November 4-6 in New Orleans, LA, so I wanted to answer a few of them here. First of all YES,  I will be attending and speaking at this event! TWITA!

Register here:  http://www.eventbrite.com/event/472454123/Noteworthy2010/6949853801

Question:  “What will I get by attending?”

Answer: That’s a little hard to answer because different people want different things out of it, but here are some thoughts. First, if you show up ready to network, I’m confident that you could meet 5-10 people who can help you grow your business in the next 6 months.

Second, if you show up ready to learn, I’m sure that you will learn new strategies for doing more deals and making more money, any one of which could more than pay for the trip. Personally, I’m excited by the new track on Non-Performing & Defaulted Note Investing

Question:  “Can I write off the trip as a business expense?”

Answer:  Education is a legitimate business expense, although you should always check with your tax advisor. However, your question makes me wonder if YOU really understand how attending this event can help you grow your Notes business by developing new business contacts, learning new strategies, finding new deal sources, and meeting new service providers. Did the fact that it’s being held in New Orleans suggest that it would just be a big party?

Question:  What software is included in the Bonus?

Answer:  Check for yourself. It's good stuff:

Working with Realtors (http://www.notetools.com/worwitreal.html)
Note Quoter Pro (http://www.notetools.com/notequoterpro.html)
Note Re-caster (http://www.notetools.com/noterecaster.html)

You will receive the software at conference check-in.

Register here:  http://www.eventbrite.com/event/472454123/Noteworthy2010/6949853801

If you have more questions, feel free to send me an email. I hope to see you in New Orleans!
 

So, you think you want to be in the note business? Then you need to learn the reality of the business step by step in the Secrets of Paper 101 - Audio Disc Set - A complete recording of the live SOP 101 beginner's workshop with workbook plus + click here for more info 

Only $99 if you order it through this email (regularly $149)! 

Jeff Armstrong is President of Armstrong Capital and was the Editor of the NoteWorthy Newsletter from 2006-2008. A current practitioner in the seller financed note business since 1991 he is a member of the Million-Dollar Club, a Master Broker/Buyer, visiting instructor for the American Cash Flow Institute, Instructor for Nouveau Riche and the author of several best selling industry books.  Visit www.secretsofpaper.com to learn about upcoming workshops and events and  go to www.armstrongcapital.com and click on "Note Brokers" for answers, articles and information about his Master Buyer services and how Armstrong Capital can help you succeed. He can be reached by calling 800-845-3055, faxing 818-865-2323, e-mail jeff@armstrongcapital.com.

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