Who Pays Costs When Buying Notes?

Wondering how costs are handled when buying mortgage notes?  You are not alone!  Here is a question we recently received from a note broker: If the note buyer wants the seller to pay the closing costs, does the note buyer back the closing costs out and then send me the offer or do I back the closing costs out myself along with my fee and then present the offer to the seller? If I back out the costs, where would I get the cost of the closing to do this? Great question! There are generally two … [Read more...]

Note Buyer Interview With Americus Financial

We are pleased to bring you this Note Buyer interview with Mark Donoghue of Americus Financial Group, a national note buying company located in Spokane, WA. What is the current focus of Americus Financial Group? To maintain our reputation as the recognized leader in the purchasing of real estate notes nationwide. In addition, with our knowledge and experience we strive to assure that each transaction is fast, satisfying, and stress-free. How did you get your start in the note … [Read more...]

Sell Mortgage Note to the Payer? What about Me?!

I will never forget the first time I was asked this question by a potential note seller. “Should I offer a discount to the payer before I try selling my note?” I was silent for what seemed like minutes. In reality, it was only a couple of seconds before I replied but during those seconds my mind was racing. Of course I was thinking... “If the note holder makes an offer to the payer; I may never get the deal. Matter of fact, the payer will probably even pay the seller more money than I can … [Read more...]

Will I Have to Sell My Note at a Discount?

The most common question among note sellers is also the one that most new note brokers hope never to hear. Although I cover numerous ways and specific scripts for answering this question in the Finding Cash Flow Notes Training, I want to address it here from a 30,000-foot level. When dealing with the note discount question, remember three important things… 1. “Discount” is not a bad word. Hey, in a perfect world the seller would get 100 cents on the dollars, the note buyer would make a … [Read more...]

Note Broker Marketing With Note Appraisals

Just What is a Note Appraisal and How Can it Help My Note Broker Business? I just finished up an Opinion of Value for a real estate note down in South Florida. It was the second request for a fee based note appraisal in the past several weeks, a service that has been growing in demand. These requests primarily result from our networking efforts and presentations at Real Estate Investment Clubs and Self-Directed Retirement Account educational workshops. Since it is fresh on my mind it seemed … [Read more...]

Note Business Success in Five Words

We are often asked, "How can I make it in the note business?" That usually prompts us to ask a couple of questions to understand what, specifically, they mean by the question. Some people want to … [Read more...]

Note Broker Fees In The Cash Flow Business

How much can a note broker make on a deal? That's the short summary of a cash flow business question we received last week from a Note Broker. It was an earnest inquiry and we wanted to share our answer in this edition of Real Deals! I was just visiting your site and wanted to know what a fair % of cash flow a broker can expect from a performing package deal? There are buyers wanting a performing MHP package I have available with only 2-3 yrs. to maturity and the smaller lender wants to … [Read more...]

Do I Need a License To Be a Note Broker In CA?

This is a common question with a straight forward answer.  Earlier this week we responded to this email inquiry and we'd like to share our answer with readers! Note Broker Question: Hi, Can you please tell me if you need a license to be a note broker in Ca.? Thanks, Marie Note Buyer Answer: Hello Marie! Thanks for visiting NoteInvestor.com. While I am not an attorney (so unable to give legal advice), I'm happy to share with you my knowledge and resources. California is one of the … [Read more...]

Using Owner Financing To Achieve Your Goals

We are headed to San Francisco to participate in the Women in Real Estate Event on March 26, 2011. This full day event is sponsored by SJREI, the bay area's premier real estate investor's association at the at the Sequoia Yacht Club in Redwood City, California. Join women real estate investors as they share their success strategies at the event entitled,  Steel Toed Stilettos: Real Women Own Real Estate.  Here's a look at the line-up and topics: … [Read more...]

Building Rapport for Note Brokers

Rapport (noun) \ra-‘por\ : relation marked by harmony, conformity, accord, or affinity We’ve all been in this situation: A spouse or a friend asks you to attend a Christmas party, a wedding, or a company picnic where you know absolutely nobody. Worse yet, your link to familiarity heads to the bathroom and leaves you…totally…alone… … [Read more...]