Note Buyer Interview With Americus Financial
January 17, 2012 by Note Investor · 2 Comments
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 business?
B
uying and selling real estate in the mid 80’s. I was introduced to seller-financed real estate early in my real estate career and in 1988 was hired to purchase real estate receivables, structured settlements and lotteries for a multi-billion dollar financial services corporation until my departure in 2003 to start Americus Financial Group.
What unique benefits does your note buying company provide?
We do ALL our own underwriting, pay for ALL appraisals and we are the only investor to my knowledge that does not require the servicing to be released.
What type of notes or transactions will your company consider funding?
Each transaction (as long as it is secured by real estate) is reviewed based on the following criteria in order:
- Equity
- Seasoning
- Collateral Type (SFR, Commercial, Land)
- Credit
What type of note deals would just waste your time?
Simultaneous closings and “flips”
How do you handle commissions to note brokers or consultants?
They are paid at funding (when we close the transaction). Most fees are wired to our brokers.
What advice would you give to new professionals just starting out in the note industry?
This is a vocation/profession so treat as such – educate yourself and understand that you will ultimately be rewarded with the amount of time and effort you truly put into it.
What is the most common business mistake you see people make?
Requiring and gathering too much information from the note holder before they have the transaction even under contract.
Given the current economy, have you made any changes in the way you buy mortgage notes?
Yes we have –
- As noted above, we no longer purchase simultaneous closings or flips
- We require a minimum of 20% cash equity on most note purchases.
Where can someone contact you to obtain more information?
Editor’s Note: You can also view the Americus Financial Group listing in the current edition of the Note Buyers Directory for more details! This updated directory is available for download in the Member’s area of the Finding Cash Flow Notes Training or can be found in the bookstore.
Directory of Owner Financed Note Buyers and Service Providers
September 3, 2009 by Note Investor · 27 Comments
Sometimes it is not only what you know, but who you know.
Knowing the right people can not only make things easier, in the case of the 2012 Directory of Owner Financed Note Buyers, it could also make you more money!
Gain access to our personal Rolodex of experienced note professionals that took years to develop. Work direct with knowledgeable investors, educators, and master note brokers.
Order the 2012 Funder Directory for an up-to-date listing and detailed contact information for today’s top note buyers and service providers. Read more
Note Buyer Directory Update – Delinquent Mortgages
June 16, 2009 by Note Investor · Leave a Comment
Delinquent mortgages are on the rise causing increased demand for investors that will purchase notes with past due payments. Accordingly, we would like to pass along this valuable Note Buyer Directory update to our readers.
DMO Direct Funding, LLC
218-A E. Eau Gallie Blvd. #110
Indian Harbour Beach, Florida 32937
Main Office: (321) 777-2833
Fax: (321) 777-2834
Web Site: www.DMODirectFunding.com
Email: info@DMODirectFunding.com
DMO Direct Funding works with investor groups purchasing portfolios of delinquent mortgages. The preferred portfolio size is a minimum of $3 million or more of outstanding loan balance. A portfolio or pool is made up of multiple mortgage notes and is usually presented in an excel spreadsheet format.
DMO Direct Funding will work with and pay referral fees to brokers that have a direct relationship with the portfolio holder. Please contact Doris O’Halloran at DMO Direct Funding for more information.
For a complete listing of private mortgage investors please refer to the Directory of Owner Financed Note Buyers and Service Providers – 2009 Edition.
Cashing in on Experience – Using Master Broker Services
Whether you are new to the industry or a seasoned veteran, a helping hand is always appreciated. This is especially true when entering into the owner financed mortgage industry as a new note broker.
Why spend years recreating the wheel to gain the knowledge you need to make money today? Take advantage of the knowledge, experience and volume pricing offered by a Master Broker to help you reach your goals for financial success. Essentially, a master broker offers a mentor program to the broker finding the transaction. Read more
