Did you know...

       Any marketing campaign you do over and over to the same note holders will diminish in value because they will know, "you always offer it".

Upcoming Events

 President's Corner

       It often takes years to learn that there are things that actually matter more to most people than the highest price. For example: Does it really matter if the price is high if the note professional (investor or broker) fails to deliver as promised?

          When you probe and get into the real motivations of people, they may say that price is important but, in reality, it can be down the list and much less important than getting their note sold reliably, on-time and in a manner that makes them feel good that they did business with you.

       In selling situations this can be used to great effect. Ask your prospective note holder a series of leading questions about how they rank the importance of quality, reliability, timeliness and of course, creativity. If you probe enough and get your note holder to divulge their real issues, price is seldom as important as most note holders initially claim.

       In the world, nearly everyone you deal with has someone to answer to. Their transaction with you is likely at some point to be judged, so give them justifications that they can use. When they are asked: "Did you get the highest price?" -- their answer should be: "Given the quality/style/etc., that we needed, we received a very good price."

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

Question of the Week

Q - Hi Jeff,

          I had a local Realtor call me. She has a client trying to purchase a SFH, but can't get bank financing. The guy has been a self-employed roofer for 20 years. The house is listed for $230,000 and appraised for $240,000. Seller has existing mortgage (don't know balance at this point). I suggested a wrap-around mortgage and then we possibly purchase it at a later date. The Realtor said that may be something that would work, and wants to discuss it further. Is this something that would work? If so, would you be available for a 3-way call with the Realtor to discuss the ins-and-outs. Thanks,

                                                      ~ Leslie

A - Hi Leslie!

          Thanks for the email! Yes any property seller CAN do a wrap around mortgage. For us to be able to purchase the note we need to be able to pay enough to pay off the underlying mortgage. So the balance of the underlying mortgage is the first thing to find out.

           If the mortgage is more than about 70% of the sales price then it probably will not work, there is just not enough room to pay off the underlying, for the discount, for your fee and for the seller to pocket any cash.

           If the seller owes less than 70% of the sales price then it MIGHT work depending on usual factors. Let me know the balance of the potential underlying mortgage and then we can see if we can do anything. THEN possibly talk with the realtor. Hope this helps! TWITA!                                                      ~ Jeff

So you want to invest in or broker notes?

Been trying for awhile with limited or no results?

Check out the most talked about, current and innovative educational tools, training, mentoring, assistance and support services in the industry! Updated for 2015, click here to start growing your note business today!

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 answered in this newsletter just email Jeff!

Get started in the Note Business with the Complete Note Business Starter Package - includes consultation's with Jeff!