 President's
Corner
This
week I will begin to share with you the 35+ most common questions I
receive from note brokers and consultants about how I run my business, along
with the answers of course. Let’s
get started:
1.
How long have you been in the business?
As of this newsletter
22 years, I started Armstrong Capital May 9th
1991.
2.
Do you have an office or operate from home?
I work out of my home. I
tried to have an office year’s ago but I found I was bringing work home every
night and in addition I never had any note sellers come to my office.
3.
Do you work full time or part time?
Armstrong Capital is a full time business; I usually work 9a-5p Monday
through Friday. And I stress usually.
4.
Do you have a Real Estate License?
Yes, in
California
I am required to have a CA RE Broker License and I’ve had one since 1996.
5.
Do you operate under a corporation?
No, at this time I operate as a Sole Proprietor.
6.
Number of employees?
I have no actual employees but I do currently have a company that does
my direct mail for me and well as a company that processes my transactions once
a note holder accepts an offer.
7.
Do you function primarily as a principal or broker?
I function as both and all - a Private Investor, a Master Broker/Buyer and as a
Note Broker.
8.
Do you sell notes to Private Investors or Institutions?
Actually both institutional funding sources, private investors and a
few of what I call back pocket investors.
9.
Do you originate loans?
No, but I do know of people that do originate loans and refer them
people that call me for loans.
10.
Do you have access to a Credit Bureau?
Yes I do have access to a credit bureau but I honestly do not use it
very much. Most of the time the
funding source, investor or my processor will run any credit checks that need to
be done.
11. 11. What
equipment do you use in your business?
1 – Computer Yes.
2 – Fax Machine
Yes, also E-fax.
3 – Answering Machine/voice mail Yes, both.
4 – Copy Machine
Yes.
5 – 800 Number
Yes, if we can’t pay for a phone call what
does that say about us?
6 – Software used
Microsoft Word
Microsoft Excel
T-value
7
-
Calculator
HP 10B-II
12. 12.
Do you
use Real Estate Agents for finding notes?
From time to time I get some good referrals from real estate
agents. Recently, I have been trying
to go to a real estate office meeting per month to educate them about what a
good note is and how to structure a good note as a way to help them sell a few
more properties per year.
Next
week we will continue with more of the most common questions and answers from
note brokers and consultants. Remember, Success Demands
Action!
Keep on marketing, it’s going to
work! TWITA!
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