Selling Mortgage Notes? Find the Right Note Buyer!
January 1, 2012 by Tracy Z · 5 Comments
Note Investors fall into one of four groups, but which one is right for you? Safe to say it’s not “The Posers!”
Here’s a look at each group including tips for finding and selecting the best note buyer.
Should I Visit The Courthouse to Find Cash Flow Notes?
November 22, 2011 by Tracy Z · Leave a Comment
Wondering if courthouse research is a good for finding notes? It seems this question is making the rounds again, which is undoubtedly due to someone selling a “How To Find Notes at the Courthouse” training course for note brokers.
Let me start by asking a question in return.
Pardon my directness but… What year are we in? Is it 1981 or 2011? Read more
How to Build a Note Business Website in 7 Steps
November 8, 2011 by Tracy Z · 2 Comments
Why do you need a website for your note business?
There are over 239 million users online making up 77% of the US population according to Internet Word Stats – and that number is only growing!
With potential customers online there are great reasons for note buyers and note brokers to build a website. Your site will Read more
Discover Real Estate Notes – Interview With Lisa Moren Bromma
Looking for marketing expertise? Lisa Moren Bromma has been finding cash flow notes for over twenty years.
In addi
tion to buying real estate notes as a private investor she has provided marketing consulting to the nation’s top institutional note buyers.
The author of several acclaimed books published by McGraw Hill and a past board member of the National Association of Real Estate Investors, she will wow you with her knowledge and dynamic presentation skills. Read more
The Need for a Solid Note Business Website
October 31, 2011 by Fred Rewey · Leave a Comment
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 Use Google Places for Your Note Business
September 21, 2011 by Tracy Z · Leave a Comment
3 Tips for getting your mortgage note business found online using Google Places and Local Maps.
When was the last time you used a phone book?
Chances are you’re more likely to use it as a booster seat or doorstop than to look up a business. Online search has quickly replaced the yellow pages. In fact many cities like Seattle are looking at requiring opt-outs for phone book delivery.
With about 65% of market share, Google is undoubtedly the “Big Daddy” of search engines and…
they’ve just made it easier for small businesses with Google Places.
Formerly known as local maps, a Google Places page provides a free listing containing contact information for your business. Google uses this information to serve up results for local search and place you as a “pin” on their maps. In fact it’s not unusual to see a Google Places page showing higher in the rankings than a company’s own website.
Steps for Using Google Places for Your Note Business
1. Claim your Note Buyer Listing Read more
5 Myths About the Cash Flow Notes Business
September 13, 2011 by Fred Rewey · 5 Comments
I want to have a very candid conversation about working in the cash flow notes business.
Just what it is, how you may be part of it, and some common myths and facts.
I have been in the note industry for over 15 years. Read more
Free Financial Calculator for Cash Flow Notes!
September 7, 2011 by Tracy Z · Leave a Comment
Is the best financial calculator now free?
If you struggle with calculating cash flow notes on the HP12C , HP10B, or the Texas Instrument BAII then you will want to check out this great offer!
Advanced Seller Data Services (ASDS), a leading provider of marketing lists for seller carried notes, has released a series of free financial tools for note brokers and note buyers.
Here’s a sneak peak at the power behind these calculators from a recent ASDS press release:
Tool #1 – A Financial Calculator to Find the Missing Variable in a Cash Flow Note!
- Greater ease of use and faster than the HP12C or other calculators.
- Allows user to instantaneously confirm information provided by note seller is correct.
- Provides user with feedback on which variable is being solved.
- Gives warning message and possible solutions when inputted variables cannot compute correctly.
- An automatic note quote system to quickly calculate full and partial bids as determined by the user.
- A Net Sum calculator to find the present value of a series of partial payments.
Tool #2 – A “Simple” Amortization Calculator
- Creates an amortization table for straight line mortgages.
- Calculates schedule on exact day or 360 day basis.
- Includes columns to track loan payments and reserves.
- Calculates loan payment for common loan terms for any loan amount and interest rate.
Tool #3 – A “Complex” Amortization Calculator for Irregular Cash Flows
- Allows user to input in any date order:
8 interest rate changes and
12 payment amount changes and
12 bump payments
- Calculates schedule on exact day or 360 day basis.
- Includes columns to track loan payments and reserves.
- Calculates repayment amount for common loan terms.
The only requirement to run the programs is Excel 2007 or higher installed on your computer. An Excel 2003 version is also available by request.
Programming the Excel worksheets with financial calculations is similar to the exclusive proprietary programming ASDS uses to identify seller carry back notes out of millions of recorded documents each year.
“Creating these programs to help our customers become more profitable was a natural progression of the services we offer” said Scott Arpan, owner of ASDS.
You’ll be happy to know that ASDS is committed to keeping these programs available to note brokers and note buyers at no cost. The motivation? They would like to have you keep coming back to the site and consider their list services for finding cash flow notes.
These tools may be downloaded for free at http://notesellerlist.com/Free_Financial_Calculators.html.
I’ve already downloaded my version and have been putting it to the test with these examples from Buying Mortgage Notes: 7 Tips for Calculating Cash Flow Notes! You’ll be glad to know they are matching to the penny!
Finding Bad Cash Flow Notes
August 31, 2011 by Fred Rewey · 2 Comments
No one has ever asked us,
“How do I find BAD note deals?”
The funny part is, that as a note buyer, we see more bad deals than we do good ones.
But isn’t that just the nature of the business? Yes, but it doesn’t need to be so.
When beginners start in the note business they spend an inordinate amount of time on what we consider “bad” (or at least extremely “challenging”) deals.
These are mortgage and trust deeds that will most likely never be purchased. They include things like: Read more
How to Build MIStrust in the Note Business
August 18, 2011 by Fred Rewey · 2 Comments
Sometimes people just make more work of things than need be, and the note business is no different.
I was in the bookstore yesterday. Not looking for anything in particular, but was amazed at the amount of networking books and books in particular about how to build trust among clients and prospects.
For me, it seems easier (and more fun), to simply point out the ways you can build MIStrust.
Want to be a lousy note broker or note buyer?
Here’s how to build mistrust among note sellers and professional referrals in 12 easy steps: Read more
