Honestly any kind of a cash flow it is possible there is some one who buys it. Here are a few.
Discounted mortgages and discounted trust deeds, or
cashflows like structured settlements and annuities...
tax liens, medical receivables, royalties (such as royalties and residuals from book authors, composers, athlete's endorsements, etc.), dental receivables, even such cash-flows as funeral paper, student loans, factoring accounts receivable and even bond notes. There really are alot of cash flows you can broker/buy if there is a contract there probably is a buyer for it.
Business Notes,Auto paper and so many more...
Wednesday, January 30, 2008
Thursday, January 24, 2008
How To Find Mobile Home Notes
MOBILE HOME NOTES: Contacting Manufactured Home Dealers: Often dealers will be sitting on Mobile Homes they have sold and held back the paper on. Some dealers may have several notes and could just be looking for YOU. Many times these dealers will want to cash out on notes for quick cash or other motivations. Call them and ask. You may be surprised. Remember CASH NOW has value and money in their pocket NOW is worth more than money over time.
Drive Through Mobile Home Parks: Driving through a Mobile Home park allows you to access the type of home notes we would be interested in purchasing. If you talk to neighbors, even those selling their home, you may find an owner who is desperate to sell and needs money now. Mobile Home communities are small and active. They are breeding ground for leads since many neighbors communicate with each other on a regular basis. I make it a point to stop into the main office at any mobile home park I see and drop off a stack of business cards. I explain briefly to the office manager what we do. Most of the time they or someone they know have a privately held note and will be more than happy to give them your card. Once you start to see results step up to a more professional brochure.
Drive Through Mobile Home Parks: Driving through a Mobile Home park allows you to access the type of home notes we would be interested in purchasing. If you talk to neighbors, even those selling their home, you may find an owner who is desperate to sell and needs money now. Mobile Home communities are small and active. They are breeding ground for leads since many neighbors communicate with each other on a regular basis. I make it a point to stop into the main office at any mobile home park I see and drop off a stack of business cards. I explain briefly to the office manager what we do. Most of the time they or someone they know have a privately held note and will be more than happy to give them your card. Once you start to see results step up to a more professional brochure.
Auto Paper Brokers
Are any of you working on this type of brokering? I have been for awhile I am doing well at it I have a great Finance Company I deal with high payout fast close. When I first started I had alot of brokers who acted like the buyer it was really hard to get a deal closed. If any one needs any help here I can give you the finance company number.
Hello every one I just wanted to let you know about one of the marketing methods I got from the book I recommended to you. I went to the local pizza place and talked to the manager his name was Mark I offered to give out his pizza coupons to my customers if he would let me put an ad on the coupons he and I sent out he jumped at it now every pizza order here gets my info on the box. I can not tell you how many deals we have closed with this one idea. There are alot of different versions of this idea one guy offered to print the menus for a Chinese place it works for him every day. I am on 19 in the book of marketing for notes and I closed another deal today! If I sound like a book promotion it is just funny I spent over 5000 to learn this business and I did learn alot but a less than 20 dollar book has made a huge difference in my deal closings ratio. The book is at http://www.lulu.com/content/679259
How to write a marketing plan for a note business.
The following plan is consolidated steps from ehow.com to fit a note business. Please reference the original steps if you need further information.
Step 1: Marketable product, Unique, Fill a need?Note brokering is an extremely marketable product for consumers who know of no other alternative for solving their seller-finance needs. The customers are the note holders themselves, the professionals who help create these notes (which lead to the holders), or a mixture of both.
Step 2: Marketing strategy, BudgetDetermine who you are marketing to. Whether individual note holders, referral sources, or a mix of both. Also figure out how you are going to come up with your mailing lists, whether organically or from a purchased list. Next, think of what kinds of materials you are going to use to market- postcards, newsletters, etc.- and to whom goes which. Some marketing materials work better with professionals who have little time to read them. Third, itemize the list and research the cost. This will help you better determine a budget.
Postcards - $xyzEnvelopes - $xyzStamps - $xyzNewsletter printing - $xyzEtc.Step 3: Overall objectivesSet yourself measurable goals. How many deals do you want to do a month? Make sure they are reasonable. If you are a fairly new company, doing 30 deals a month is virtually impossible. How many referral sources do you plan to have? Also, be realistic about commissions. Don’t try to make every deal your “windfall”. By setting real amounts to your commission, you will be able to better determine how many deals you should be doing.
Step 4: Create a guidelineConclude with an evaluation guideline that includes timelines for reaching specific goals, including new customers identified, and budgeting goals achieved. Emphasize what should be accomplished within one year, but include shorter-term benchmarks to track results along the way. Schedule meetings to evaluate progress.
Step 5: Executive overviewThis is the summary stating the major points of your plan. It should be no more than a page long, with bulleted lists and short sentences, and is the first page of your marketing plan. It should also include the most important financial numbers.
That’s it! Most marketing plans are much longer and more detailed, however, I feel that this is a good model to build from, especially when dealing with a note business. Have fun!
Step 1: Marketable product, Unique, Fill a need?Note brokering is an extremely marketable product for consumers who know of no other alternative for solving their seller-finance needs. The customers are the note holders themselves, the professionals who help create these notes (which lead to the holders), or a mixture of both.
Step 2: Marketing strategy, BudgetDetermine who you are marketing to. Whether individual note holders, referral sources, or a mix of both. Also figure out how you are going to come up with your mailing lists, whether organically or from a purchased list. Next, think of what kinds of materials you are going to use to market- postcards, newsletters, etc.- and to whom goes which. Some marketing materials work better with professionals who have little time to read them. Third, itemize the list and research the cost. This will help you better determine a budget.
Postcards - $xyzEnvelopes - $xyzStamps - $xyzNewsletter printing - $xyzEtc.Step 3: Overall objectivesSet yourself measurable goals. How many deals do you want to do a month? Make sure they are reasonable. If you are a fairly new company, doing 30 deals a month is virtually impossible. How many referral sources do you plan to have? Also, be realistic about commissions. Don’t try to make every deal your “windfall”. By setting real amounts to your commission, you will be able to better determine how many deals you should be doing.
Step 4: Create a guidelineConclude with an evaluation guideline that includes timelines for reaching specific goals, including new customers identified, and budgeting goals achieved. Emphasize what should be accomplished within one year, but include shorter-term benchmarks to track results along the way. Schedule meetings to evaluate progress.
Step 5: Executive overviewThis is the summary stating the major points of your plan. It should be no more than a page long, with bulleted lists and short sentences, and is the first page of your marketing plan. It should also include the most important financial numbers.
That’s it! Most marketing plans are much longer and more detailed, however, I feel that this is a good model to build from, especially when dealing with a note business. Have fun!
How To Find Notes
Finding notes takes an investment of your time and/or your money. If you have money but don't have a lot of time, you can simply place advertisements in lots of newspapers and do quite well over the long term. If you have more time than money and are willing to work hard, you can still be successful. Remember to have business cards made up. This is VERY important. There are over 100 ways to find notes. Here are some of the better methods:
Newspapers: An easy way to find notes is to place your own ads in the classified section of as many newspapers as you can. Here's one that works well:
*** CASH *** QUICK ***For your owner financed note. Most any structured cash flow purchased. No fees. Call (your phone number)
It's inexpensive and it makes the phone ring. The drawback is that you'll have to explain to many callers that they can't sell the mortgage they're PAYING on, but that might be preferable to spending the extra money on a larger ad to explain it (a lot of them would call anyway). Or, you might try an ad such as:
If you sold your property and are RECEIVING payments on a note, I will buy that note for CASH! Call --
Put your ads where people will see them. If you have the funds, try display ads in the sports or comics section. If you can't afford that, use the big papers sparingly (Sundays only) and concentrate on the small-to-medium sized newspapers. Try out-of-town papers, too, especially if you live in a place where you see lots of competition from other note buyers.
Don't forget the "shoppers," those free all-classified ad papers (the Thrifty Nickel, Penny Saver, etc.). Ads in shoppers are cheap and can be effective, but you have to run them for months to get results.
The secret to finding notes is PATIENCE. The more papers you advertise in day after day, the more calls you'll get. Keep running your ads, week after week. Rural, small and medium-sized papers can be ideal - they're cheap and you have no competition. A good criteria is this: If you've located no notes after two months in a larger daily paper, 6 months in a small town daily or 1 year in a weekly, drop the ad for 6 months and then try again. If you just hit those averages, you are doing just fine.
Look around your area for homes for sale. This is a proven method we use daily with long termresults. Your helping the home owner sell their home quickly and creating a note for you to broker.
What will you say when people call? Make a Note Worksheet ask the questions on it.
Networking: If you're going to be an active note finder you have to let people know about you. It's a long process before you get results, and the principle of "out of sight, out of mind" applies. You have to keep reminding people that you're out there waiting for notes. Obviously, you should concentrate your efforts on people who are in a position to bring notes your way, primarily real estate agents and brokers, title company employees, bank trust officers and bank loan officers, and attorneys with a real estate practice.
Look for advertisements placed by real estate agencies promoting their top producers. These are the leaders in the local real estate community. Call them and tell them you're looking for "owner financed" notes and ask them to call you with any they know about, either now or in the future. You can even offer them a modest referral commission, say $100 for every note they bring you that is purchased (when you're making $500 or more for one phone call to the note owner and a fax to us, paying the agent $100 is smart!). Note that in some cases real estate agents are prohibited from receiving such commissions, but that is their decision, not yours.
Follow-up with a brief letter and enclose your card - or, better yet, your own rolodex card! You could have some color rolodex cards printed with "CASH FOR NOTES" on the tab, and your name, phone number and other information on the card, and hand them out to real estate agents and others. Keep in touch with these folks with a letter every couple of months and it will begin to pay off.
Make a habit of dropping in on every open house you see, look around a little bit, and then get the conversation with the agent around to your real purpose: let him or her know you buy notes. Be sure to leave them with your card (or rolodex card) that indicates you buy notes -- in fact, give them several to pass around their office. Follow up your open house visits with a phone call or personal letter to the agents, thanking them for their time and reminding them you buy notes. Ask them to tell other agents about you, and send more cards they can pass around the office and post on the bulletin board.
Networking shouldn't be restricted to real estate agents. Attorneys, accountants, title company officials and bankers often have notes crossing their desk. Use the personal contacts you already have with these people to let them know you are interested in notes. A tasteful letter indicating the same, mailed to names you find in legal directories at the library or simply culled from the phone book, may produce results. Your letter must be low-key and professional if you expect results.
The Bulletin Board Method: You can always put up little signs on community bulletin boards advertising that you buy notes. Remember that the stores, community centers and other establishments that permit notices remove them on a regular basis (such as every two weeks). It becomes almost a full-time job just to keep your notices up. If you're going to do this, you're eventually going to have to hire someone like a high school student to do the legwork.
This technique has one great advantage: you can do it yourself for free. Therefore, it's a way you can get started this afternoon with no up-front investment. Be sure you handwrite your ad, and use the same wording advised for your newspaper ads. Handwritten ads are much less threatening than printed ones; simply write it out with a black felt-tip pen and have it reproduced on index cards at a quick print shop. Put up your cards with a stapler, which is much faster and less expensive than thumbtacks. Print "cash for mortgages" and your phone number on tabs they can tear off.
Again, this is a method that requires patience. You have to keep putting your notices back up and keep working at the program. This is really a supplement to your other efforts and should not be your only method. The downside to the bulletin board method is that the response will be so poor that you could be discouraged from notes altogether, which would be a disaster. If you try this, convince yourself not to expect any response at all. Then you might be pleasantly surprised. There are alot of ways to market for Notes this is a great book www.lulu.com/content/679259 I have used these methods for puchasing notes and they work alot better than I had hoped.
Newspapers: An easy way to find notes is to place your own ads in the classified section of as many newspapers as you can. Here's one that works well:
*** CASH *** QUICK ***For your owner financed note. Most any structured cash flow purchased. No fees. Call (your phone number)
It's inexpensive and it makes the phone ring. The drawback is that you'll have to explain to many callers that they can't sell the mortgage they're PAYING on, but that might be preferable to spending the extra money on a larger ad to explain it (a lot of them would call anyway). Or, you might try an ad such as:
If you sold your property and are RECEIVING payments on a note, I will buy that note for CASH! Call --
Put your ads where people will see them. If you have the funds, try display ads in the sports or comics section. If you can't afford that, use the big papers sparingly (Sundays only) and concentrate on the small-to-medium sized newspapers. Try out-of-town papers, too, especially if you live in a place where you see lots of competition from other note buyers.
Don't forget the "shoppers," those free all-classified ad papers (the Thrifty Nickel, Penny Saver, etc.). Ads in shoppers are cheap and can be effective, but you have to run them for months to get results.
The secret to finding notes is PATIENCE. The more papers you advertise in day after day, the more calls you'll get. Keep running your ads, week after week. Rural, small and medium-sized papers can be ideal - they're cheap and you have no competition. A good criteria is this: If you've located no notes after two months in a larger daily paper, 6 months in a small town daily or 1 year in a weekly, drop the ad for 6 months and then try again. If you just hit those averages, you are doing just fine.
Look around your area for homes for sale. This is a proven method we use daily with long termresults. Your helping the home owner sell their home quickly and creating a note for you to broker.
What will you say when people call? Make a Note Worksheet ask the questions on it.
Networking: If you're going to be an active note finder you have to let people know about you. It's a long process before you get results, and the principle of "out of sight, out of mind" applies. You have to keep reminding people that you're out there waiting for notes. Obviously, you should concentrate your efforts on people who are in a position to bring notes your way, primarily real estate agents and brokers, title company employees, bank trust officers and bank loan officers, and attorneys with a real estate practice.
Look for advertisements placed by real estate agencies promoting their top producers. These are the leaders in the local real estate community. Call them and tell them you're looking for "owner financed" notes and ask them to call you with any they know about, either now or in the future. You can even offer them a modest referral commission, say $100 for every note they bring you that is purchased (when you're making $500 or more for one phone call to the note owner and a fax to us, paying the agent $100 is smart!). Note that in some cases real estate agents are prohibited from receiving such commissions, but that is their decision, not yours.
Follow-up with a brief letter and enclose your card - or, better yet, your own rolodex card! You could have some color rolodex cards printed with "CASH FOR NOTES" on the tab, and your name, phone number and other information on the card, and hand them out to real estate agents and others. Keep in touch with these folks with a letter every couple of months and it will begin to pay off.
Make a habit of dropping in on every open house you see, look around a little bit, and then get the conversation with the agent around to your real purpose: let him or her know you buy notes. Be sure to leave them with your card (or rolodex card) that indicates you buy notes -- in fact, give them several to pass around their office. Follow up your open house visits with a phone call or personal letter to the agents, thanking them for their time and reminding them you buy notes. Ask them to tell other agents about you, and send more cards they can pass around the office and post on the bulletin board.
Networking shouldn't be restricted to real estate agents. Attorneys, accountants, title company officials and bankers often have notes crossing their desk. Use the personal contacts you already have with these people to let them know you are interested in notes. A tasteful letter indicating the same, mailed to names you find in legal directories at the library or simply culled from the phone book, may produce results. Your letter must be low-key and professional if you expect results.
The Bulletin Board Method: You can always put up little signs on community bulletin boards advertising that you buy notes. Remember that the stores, community centers and other establishments that permit notices remove them on a regular basis (such as every two weeks). It becomes almost a full-time job just to keep your notices up. If you're going to do this, you're eventually going to have to hire someone like a high school student to do the legwork.
This technique has one great advantage: you can do it yourself for free. Therefore, it's a way you can get started this afternoon with no up-front investment. Be sure you handwrite your ad, and use the same wording advised for your newspaper ads. Handwritten ads are much less threatening than printed ones; simply write it out with a black felt-tip pen and have it reproduced on index cards at a quick print shop. Put up your cards with a stapler, which is much faster and less expensive than thumbtacks. Print "cash for mortgages" and your phone number on tabs they can tear off.
Again, this is a method that requires patience. You have to keep putting your notices back up and keep working at the program. This is really a supplement to your other efforts and should not be your only method. The downside to the bulletin board method is that the response will be so poor that you could be discouraged from notes altogether, which would be a disaster. If you try this, convince yourself not to expect any response at all. Then you might be pleasantly surprised. There are alot of ways to market for Notes this is a great book www.lulu.com/content/679259 I have used these methods for puchasing notes and they work alot better than I had hoped.
What Does a Note Broker Do?
As a note broker, your task is to find sellers who are holding notes, and offer them cash payments in exchange for their notes. Often, note owners decide they would rather have a single, lump-sum cash payment in exchange for their notes, rather than continue to collect small, monthly payments for many years, perhaps decades. They may need or want a large sum of money, or they may be tired of handling the monthly paperwork. When you identify note owners who are interested in selling their notes, you then present the proposed transaction to an investor, who will then make the purchase. Upon each sale, you earn a commission.
Many note brokers eventually build their own portfolios of notes to create monthly income for themselves.
Many note brokers eventually build their own portfolios of notes to create monthly income for themselves.
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