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 business?

Buying 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:

1. Equity
2. Seasoning
3. Collateral Type (SFR, Commercial, Land)
4. 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?

www.AmericusBuysNotes.com

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.

Note Business Holiday Giveaway

 

We Are Giving Away One Note Present Each Day For The Next 12 Days!

And there are TWO WAYS you can win… Read more

The Seller Financing Solution – Note Investor Radio Interview

Why is seller financing on the rise?

It provides a main street solution to a wall street problem.

If you are wondering how to use real estate notes to achieve your goals in this tough economy then you will want to catch the audio replay of the Note Investor radio interview.

Last Tuesday we tuned in with Lisa Moren Bromma of Wise Women Radio to discuss the opportunities available to buyers, sellers, investors, and note brokers using owner financing.  Here is just a sampling of the hard hitting questions she posed:

• You talk about solving the problems of main street that wall street created. What have you seen through the years in the lending business and how does your company solve these problems?

• What does it take to be a note investor in today’s tough market?

• What is the most difficult part in brokering or buying private mortgages that one must watch out for?

• How do you qualify your investors? How do you qualify the borrower of the note?

• Can investors use their IRAs to buy seller financed notes? How does one go about buying a note for their IRA?

• You have developed a strong following as someone who knows her craft. Tell us about your online presence, what you offer to those who are interested in learning the note business in today’s upside down real estate market.

• How do you keep up-to-date with industry changes and laws like the HUD Safe Act and Dodd-Frank Law?

• Do you have any recommendations on how people can educate themselves?

• You have been so successful where many of our peers have failed. What is your secret?

• Can you give us 3 basic ways to find mortgages?

• You are in business with your husband Fred. Is it difficult to work together? What is the secret to working and maintaining a solid personal relationship/marriage.

• What’s next for you in business and in life?

Many of you already know Lisa Moren Bromma as both a marketing expert and long time note buyer / real estate investor.  She’s also a published author and has recently started an Internet radio talk show entitled Wise Women Radio.  It was fun to be interviewed by Lisa and I encourage you to listen to the free audio replay.

You can also check out the archived talk shows with past interview participants.  It is a great way to pick up ideas at no cost! All it takes is just a small investment of your time! You can listen to the Note Investor interview and others at: http://www.wisewomeninvestor.com/WWR.html

 

 

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 addition 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

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

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

Finding Cash Flow Notes – Does It Help To Get Social?

It seems you can’t make a move today without being reminded of the surge of “social media” outlets. But do these outlets actually help anyone do business?

What about finding cash flow notes?

First off, let’s look at some of the top social media sites in 2010 (in no particular order).

YouTube  -  Twitter  -  Flickr  -  Digg  -  Facebook  -  Del.icio.us  -  Propeller

Reddit  -  Metacafe  -  Technorati  -  StumbleUpon  -  LinkedIn  -  Mixx  -  Slashdot

My Space -  Class Mates  -  LiveJournal  -  Yahoo 360  -  Scribd

Blogger  -  WordPress  -  MSN Groups

Wow, where do you start?

There are really over 100 social media sites that have “significant traffic.” But you certainly don’t have the time to check them all out. Here are a couple that we think deserve your attention.

1.     LinkedIn – Touted as the “business” option for social media, you can connect with colleagues, clients, and prospects. You can send and receive emails as well as create and join groups.  Think business networking groups in an online environment.

2.     YouTube – Great venue for sharing videos and a low price (how is free for low?). Be sure to allow people to re-post your video on their site if they want to share.

3.     Facebook  – Ever since the addition of Fan Pages and Groups, Facebook has become a potential melting pot of information. If you use the “group” function you can also email people (within Facebook) directly. A great way to let them know what you are doing.

4.     Twitter – Short messages to a group of “followers.” This venue gives the user and opportunity to add a personal touch. Just don’t go too far – no one cares what you had for lunch. Send out more than 4-6 updates per day and you will probably find your followers start to ditch you – especially if you are doing nothing but selling them.

Although the jury is still out on how many actual deals you can get from social media, there is no question that it will be here for awhile and millions of people are interacting in this venue.

In all cases, you want to be sure that you are delivering useful content, not just a sales pitch (some sites will even have rules against you doing just that). Contribute solid information and you just may find yourself sought out when it comes to buying owner financed notes!

Note Buyer Success Story

Canyon Capital has been added to the Directory of Owner Financed Note Buyers. Discover a new investor listing and read how the owner went from start-up note broker to note buyer in just a few short years.

Note Investor (NI) recently interviewed Greg Gehlen (GG) to learn more about his note buying programs. Canyon Capital specializes in mobile homes on land and pays fees to cash flow brokers for the purchase of notes, trust deeds, and contracts.

NI: What is the current focus of your company?

GG: We buy seller-financed first-position lien notes in the Western U.S. Our primary focus is buying partials to still keep deals together that may not otherwise work.

NI: How did you get your start in the note business?

GG: In 2004 I wanted to buy or start a business and after I looked at a number of existing businesses I decided the best option for me would be to start a business. I attended Noteworthy here in Las Vegas and found a wealth of great information (people and materials) at the conference to get started in the paper business.

NI: What unique benefits does your company provide?

GG: We are able to make decisions quickly on files and we also buy notes that many people are not interested in – mobile homes on land.

NI: What type of notes or transactions will your company consider funding?

GG: We buy notes in the Western U.S. which includes WA, OR, CA, AZ, NV, NM, UT, CO, MT, ID, and WY. The type of note we prefer is mobile homes on land (no park paper). We will look at notes up to $150,000 but prefer partials under $50,000. We like to look at credit if possible but down payment, a solid pay history and property value are more important to us.

NI: What type of deals would just waste your time?

GG: New notes with small down payments and poor credit are not files we will fund.

NI: What do you consider the best methods for finding cash flow notes? Read more