People like “to do” lists and frankly, they are pretty darn effective. You have something written out just waiting to be checked off with an emotional satisfying swipe of the pen. So, without any further delay, here are three things you can do TODAY that can move your note business forward. To Do Item #1 - Write a letter to a potential referral source. Contact a real estate agent, CPA, attorney, title agent, escrow company, or other real estate professional. Tell them what you do and … [Read more...]
Archives for June 2012
Starting Your Own Note Business? Better Have a Lot of Quarters In You!
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I’m often asked what it takes to have a successful business buying and selling notes. Well my new answer might just surprise you... You Need a Lot of Quarters In You! What?!?!? Quarters? Yes, and let me explain. Remember the mechanical rides they used to have outside the grocery stores? Well when our daughter was small she loved to ride the pony after a trip to the store. She knew it took a quarter to take that unmoving hunk of metal and turn it into a spirited stallion galloping across … [Read more...]
Note Buyers Have Two Big Questions On Their Mind
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Any investor or note buyer looking to purchase a private mortgage is asking two big questions… 1. What is the likelihood of the payments continuing? and 2. What happens if the payments don’t continue? To answer these questions, note buyers look at a variety of factors. … [Read more...]
Private Note Industry: Become a Broker or Buyer?
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When considering participating in the private note industry, you may have been wondering exactly “how-to" participate. First off, let’s review the players involved a typical real estate note transaction and how to get involved. The Note Seller This is the person that holds the note, is receiving payments, and wishes to sell future payments for a lump sum of cash. The only way to be the Seller in this type of deal is to be holding or creating notes. You can do this by selling or flipping … [Read more...]
