The Need for a Solid Note Business Website

I think we can all agree that the web is not a “fad” nor is it going anywhere in our lifetime.

I think it is also safe to say that there really is not any business on this earth that can’t directly benefit by managing a strong web presence. That of course applies to the note business!

So what stops note brokers from creating a web presence that can help them

Find Cash Flow Notes and Get More Business?

Here are a few “objections” that keep people from getting deals online.

“I am in a people business”

Sure, I get it. You like face-to-face interaction. But how are they going to find you? Are you going to work 24/7, running around every major city, diner and Starbucks trying to connect with someone who might need your services?

A website works full-time. And the best part is once it’s properly set-up and maintained it can help people find you. Not having a website for your note business is like having a car without an engine…or tires. You can sit in your garage but no one will ever see you.

“It is too hard to build a note buyer website”

No. It is too hard to build a rocket ship – websites have come a long way. Granted, it used to be really hard and really expensive. Have the time to learn it? Go for it.

Check out anything that is WordPress related…you will be surprised and pleased with the power of this platform. (Just avoid the “free” accounts and plan on hosting it yourself).

“I built a free website from my Internet provider and it sucks”

Yea, that whole “free” thing doesn’t typically work out well does it? While there are some decent free templates out there, understand it does take some savvy and time to figure out how to make it look professional.

You don’t have to spend an arm and a leg to get a professional looking site. You just need to know where to look.

“But I have Facebook”

Really, that is going to be how you plan on getting business? Hoping someone checking out your Cat Video also needs to sell a note?

Look, Facebook is a blast, and you certainly need a Fan Page for your business as a form of social proof – but don’t kid yourself into thinking that it is a true lead source.

“But I have LinkedIn”

So does my grandfather but potential leads still need to go somewhere. LinkedIn is a great place for just that, linking to other people (especially professional referral sources). But in the end, they need to go somewhere to take action and that would be your website.

“I have a site, just no traffic”

Yea, we hear that a lot. Just putting up a website is only half the picture. You need to have engaging articles and a way to collect names/prospects. You can’t just build a site and forget about it. You need to add content on a consistent basis using search engine optimization techniques (another reason Word Press is a great option).

Don’t worry; it is not like you need to write a novel or anything. Just write down your most recent conversation with a prospect. Chances are these frequently asked questions could transcend into 3-4 new articles for you.

You Decide

Frankly, you are either trying to get business or you are not. If you knew that 77% of your potential customers were going to be at your local park this Saturday, would you be there? I hope so.

Well guess what? They are all on the Internet!

According to Internet World Stats that’s the percentage people in the US that are online (and it is only growing) – so find a way to talk to them!

The Note Buyer Sites Solution

Looking for a solution that won’t break the bank? These 5 Note Buyer Sites provide a professional and effective option that will get you online in less than 72 hours. Just click the photo below to take a tour of these new sites designed just for note buyers and brokers.

Click on the banner below to check out some turn-key websites!

How to Avoid Going Broke Buying Real Estate Notes

The most important thing you need to know how to do as a note buyer or investor is to properly analyze a promissory note investment when it first comes into your office so that you can either pursue the deal or pass quickly.

Let me show you an overview of my 6 step analysis that I go through on every note we look at. Read more

Note Investor Interview with W. J. Mencarow Founder of Paper Source Online

Would you like to meet a note buyer that has been investing in private mortgages since 1981?

Well I’m honored to introduce W. J. Mencarow, founder of the Paper Source, Inc. and the feature of this month’s Note Buyer Interview.

Bill and Alison Mencarow have been publishing The Paper Source Journal since 1987. It is both the first and longest standing newsletter in the note business.

Bill has also authored several guidebooks including “How to Get Started in Notes Without Using Your Own Funds” and been interviewed by NBC, The Wall Street Journal, and numerous media outlets.

I first met Bill at one of the note industry national conventions (something else he was the first to host)! Over the years I had the chance to explore Washington DC, Cancun, and even Alaska thanks to his events. I must also give credit to Bill for meeting Bill Clinton and the Pope (or at least a couple of guys that looked surprisingly similar…)!

Bill started in the note business during the Read more

Learn the Note Business in 60 Seconds?

OK, you can’t really learn the cash flow note business in just 60 seconds, but this “speed round” of 11 questions will certainly get you started.

Ready?

Go…

What is the Note Industry?

The note business is the buying, selling and brokering of privately held notes.

What is an example of a cash flow note?

Ever see someone selling a property that says, “Owner will Finance?” That means the seller of the property is looking to “be the bank” and payments will be made directly to them. Seller financing is one of most common ways a private mortgage note is created.

How come I never see a “note buyer” office? Read more

Note Buyer Convention by NoteWorthy Nov. 10-13, 2011

NoteWorthy is holding their 25th annual note buyer and note brokers convention November 10-13, 2011, in Las Vegas at the The Palms Casino and Resort!

The Noteworthy Convention Main Event is Friday-Sunday, November 11-13th

It offers three days of sessions focusing on building wealth and generating income with seller financing, distressed assets, creative real estate investing, private lending, and more. There will be expert panel discussions, Q&A sessions, introductions to key vendors, and networking events throughout.

They are currently offering Early Bird Registration for $399 until October 16th with several “Early Bird” Bonus Items:

1) The NoteWorthy Pre-Convention Workshop on Thursday, November 10th

A half-day workshop that runs from 1-5 pm will be taught by Note industry veterans. This ‘Making Money with Notes 101′ workshop is geared towards new note brokers or investors wanting a refresher course in the economic fundamentals of note buying.

 2) $477 in proprietary software for your note business

 3)  Discounts on additional spouse or partner tickets

The convention will focus on turning a down real estate market into a viable note business by harnessing the power of seller financing and private mortgage notes. We all know real estate investing in most markets is pretty tough right now. Here are just a few of the challenges:

• You can’t count on property appreciation anymore. In fact, most investors LOST equity in their properties over the past 3-5  years.

•  You can’t count on you (or your buyers) getting financed by the banks.

• Short sales flips are pretty much DOA.

• It’s tough to get private money for your deals.

We could go on and on, but we all know the challenges already, right?  After all, they are the reasons we are seeing seller financing making a huge comeback.

You can view the full NoteWorthy Convention Video here.

(Spoiler alert…..the secret niche is….the note business!)

Russ Dalbey Lawsuit FTC Update on Winning in the Cash Flow Business

People seeking refunds from the Russ Dalbey lawsuit may just have been scammed out of money by a different company, according to an update posted by the FTC.

(Editor’s Note: Information on the Dalbey Bankruptcy Chapter 7 Filing can be found in the update posted at the bottom of this article.)

Imagine feeling misled by an infomercial, attempting to get some money back, and losing even more hard earned dollars paid to a company claiming they could get you a refund.

Sadly, this is how the story unfolded.

Earlier this year the Federal Trade Commission and Colorado Attorney General filed a lawsuit charging Dalbey with defrauding consumers.  Feeling misled, some buyers of the “Find ‘Em, List ‘Em, and Make Money” system went in search of a refund.

Just take a look at the heartfelt comments left under the original article entitled Russ Dalbey’s Winning in the Cash Flow Business In FTC Lawsuit to see how angry and hurt many felt.

Next enters a company, RMI Associates, claiming they can help people get refunds from the Dalbey Eduction group, but first they need hundreds of dollars upfront.

This led the FTC to recently update their page on the Dalbey lawsuit with the following:

“A company named RMI Associates has been claiming it can help people get refunds from Dalbey, but first the company wants a fee of several hundred dollars. The FTC believes that this company is attempting to defraud you. Neither the FTC nor the Colorado Attorney General is working with any company. A Court has ordered RMI Associates to stop making claims that it is working with the FTC or that it has a track record of having obtained refunds for consumers.”  Source: FTC Website Update On Dalbey Lawsuit

The Colorado Attorney General also issued their own cash flow business scam alert:

PRESS RELEASE
Colorado Department of Law
Attorney General John W. Suthers

FOR IMMEDIATE RELEASE
September 21, 2011

CONTACT
Mike Saccone, Communications Director
303-866-5632

ATTORNEY GENERAL ANNOUNCES ORDER BARRING DENVER COMPANY FROM CONTINUING CONSUMER-RESTITUTION SCAM

DENVER — Colorado Attorney General John Suthers announced today that his office has obtained an order barring Denver-based RMI Associates from providing consumers with assistance in filing a consumer complaint with the state for a fee. The court order also requires that RMI Associates refund any fees it has accepted from consumers to assist them in filing a complaint with the Office of the Attorney General or the Federal Trade Commission.

The order follows an August lawsuit the state filed against RMI Associates alleging that the company claimed that in exchange for an upfront fee it could help victims recover their losses related to a federal consumer-protection lawsuit against Westminster-based Dalbey Education Institute, formerly known as American’s Note Network.

“This order underlines that consumers should never pay for a service they can obtain for free from the state,” Suthers said. “Any private business that claims a ‘special relationship’ with my office or any other state or federal consumer protection agency is misleading you. You should never pay a fee to file a consumer complaint with the state of Colorado.”

Consumers can file a complaint for free via the Office of the Attorney General’s Web site at www.coloradoattorneygeneral.gov/complaint. Consumer also can file complaints via 1-800-222-4444 or stop.fraud@state.co.us.

The Office of the Attorney General warned consumers about RMI Associates’ fraudulent services in early August after consumers began filing complaints against the company. Consumers should never contract with a company or pay any fees in order to get their complaint submitted to state or federal authorities.  Source: Colorado Attorney General Press Release

At the time of publishing this article there has not been a Court decision on the government’s lawsuit against Russ Dalbey and Winning in the Cash Flow Business. As additional information becomes available we will post updates for our readers and subscribers.

Update 12/1/11 – Dalbey Education Group Has Filed Bankruptcy

According to an article published November 16, 2011, by CBS Denver News the company owned by Russ Dalbey, Promoter of Winning in the Cash Flow Business, has filed for Chapter 7 Bankruptcy.  Here are a couple of key points from the report:

• 308 People have filed complaints with the Colorado Attorney Generals office claiming the Dalbey cash flow business was a scam.
• Gross income for Dalbey Education Institute was around $62 million in 2009, $50 million in 2010, and $21 million this year (2011).
• Assets are normally sold to pay creditors in a Chapter 7 bankruptcy after which a company basically disappears.
• The State of Colorado in conjunction with the FTC continues to pursue restitution along with fines and fees feeling these claims are not dischargable.
• Complaints were still being accepted.

The full article entitled  Company That Promised to Help People Get Rich is Broker by CBS Denver News can be found here: Dalbey Bankruptcy Filing