Congratulations! The seller has accepted your offer to buy their note payments. Now what? The 3 Phases of Note Buying The purchase of a private mortgage note goes through three main phases before closing and funding. First is the quote request. Next up is the preliminary approval process. Once a transaction has received preliminary approval it moves into the due diligence phase. This provides the investor time to verify important information including current taxes, insurance, clear … [Read more...]
Archives for October 2013
You Are Not Alone In The Note Business
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I am not going to lie, it really sucks doing things on your own. I suppose there is some person in this world that would like nothing more than to be left alone, sit in a room, and learn the note industry…but I doubt at the end of the day they would be very good at it. When I look back over my note business career, there were several quantum leaps. Each of these leaps was less about solitude and more about interaction…interaction that stimulated action. When I started, I was learning how … [Read more...]
Marketing For Notes: There Needs To Be a Reason “Why”
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One of my favorite things to do is pick apart marketing pieces. Ok, that sounded unkind. Let me rephrase… One of my favorite things to do is pick apart any marketing piece…including my own. I don’t care if you are trying to buy a note, sell a car, get someone to dine at your restaurant, or voting for Miss-YouTube-Kitty-Of-The-Month*, There needs to be a reason “WHY” *I don’t know that this actually exists – I made the Miss Kitty part up, but I am afraid to go check, as I would not be … [Read more...]
Government Shutdown, Breaking Bad Finale and Buying Notes
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Just the other day millions of people watched the series finale of Breaking Bad. The same week we were able to watch our government spin its own version of “breaking bad.” As of this writing, the folks in Washington are still entrenched in a sandbox fight that 6-year-olds would envy. Not going to jump in here and place blame on either party (both) and I am not going to elaborate on how we may solve such incompetence in the future (term limits), but I will address the cause and effect it … [Read more...]
