Note buyers are currently enjoying the hottest business conditions seen in decades. You, as a new broker/finder, can now make a great living finding cash flows and simply referring them to the right note buyer for a fee and watch them do all of the work. So, if you’ve decided you want “in”. but you’re wondering what to do next and exactly how you’re going to put all the pieces in place, look no further. You need to become an Elite Cash Flow Support System member. It really is that simple. Continue reading
There are two major decision areas when pricing and charging for a note appraisal referred to you by a financial professional.
(1) It is my opinion (garnered from experience) that it’s wise to conservatively price the appraisal you do for the client of a referring professional. It is natural to want to earn a “nice and fair” fee for the work you do, and you should. Keep your fee Continue reading
Note appraisals, if handled in a professional manner, can increase your income and prestige in several ways: (1) Note Appraisal fees are substantial for the amount of time it takes to complete the required work; (2) Some appraisals will turn into brokerage situations either almost immediately or, more possibly, in the future; (3) Some financial professionals are in a position to refer numerous transactions (repeat referral business) per year; (4) Continue reading
I like the Note Appraisal as a marketing tool because it serves several important functions. It gets you in front of note holders in a way that your competition does not; elevates your status; enables you to more easily deliver your message; and you can get paid whether there is a transaction or not. It is my opinion that for you to be successful in the note business today, Continue reading
Offering a Note Appraisal meets an important client need, thereby yielding more business for you
The note appraisal is an important part of my marketing mix, because my research indicates that there are a fair number of note holders who need to know the value of their loans. They require a valuation for partnership purposes, estate planning, business dissolution, divorce settlements, etc., thereby making the note appraisal an indispensable reference tool. Almost everybody who has such needs almost always requires the assistance of a financial professional. When you are wearing the hat of an appraiser Continue reading
To become successful in the discounted note business, you must have the ability to reach note holders by all different means. It is also mandatory that you establish relationships with financial professionals i.e. attorneys, accountants, etc. Almost every cash flow transaction goes through an attorney or accountant. To be successful, you must be able to get the attention of these professionals. Continue reading
As I’ve mentioned before in numerous articles, there is a major consensus among cash flow note brokers and investors that note APPRAISALS are increasingly in demand, especially from Continue reading
You need to remember the three goals of a successful marketing plan which we preach all of the time: Keep, Create and Repeat. Again, please refer back to previous tips for elaboration. We will continue with the topic of Creating Urgency and the use of a Note Owner’s Manual. Continue reading
If the potential note seller is informed as to all of the important issues (addressed within the Note Owner’s Manual) and still wants to keep their note, that’s fine. But you will soon discover that many hard core ‘I won’t take a discount’ types become much easier to deal with.
My original goal in using the Note Owner’s Manual was for the long term marketing benefits. I never anticipated the short term immediate results that this resource generated. I have actually had note owners call in a panic seeking more information about various topics covered in the Note Owner’s Manual. Talk about creating urgency- wow! There are many additional benefits you get when you use this powerful resource. Getting potential note sellers to remember you is critical if you desire long term success. The Note Owner’s Manual works as good as or better than any marketing tool in achieving this goal. My marketing motto is “give them something they will keep” (See previous tips). All your marketing efforts are wasted if the note seller does not have your name and phone number when it comes time for them to sell. Because note owners as a rule keep these manuals, you have achieved a major marketing goal. Even better, people will actually pay for your Note Owner’s Manuals. If they paid you for it they will almost certainly keep it.
Next tip will continue with the topic of “creating urgency – Note Owner’s Manual”.
If you want to see the specific Note Owner’s Manual that I’m using, go here:
One of many helpful hints deals with insurance. The Note Owner’s Manual discusses in detail the importance for the note owner to be covered by insurance. This hits a lot of hot buttons. It is amazing how many calls you get from folks who now have an urgency- at least to get more information. “Why do I need insurance”, they want to know; “didn’t my attorney take care of this”, etc.? I have made the following statement to many note holders (and I mean it): “Do not go to bed tonight until you know you are adequately covered by insurance”. I have even helped place insurance binders for note owners. But the important thing is you never would have had the conversation about this unless they read about it in The Note Owner’s Manual. It is almost impossible to create urgency in an owner who is naive and uninformed; who thinks the only thing they have to worry about is depositing the payment. It is easier to dealwith an informed seller; one who has some understanding about the need for insurance, record keeping, legal issues, inspection of the collateral, etc. (of course, these topics are all covered in The Note Owner’s Manual). Next tip will continue with the topic of “Creating urgency – Note Owner’s Manual”.
If you want to get a look at the Note Owner’s Manual I use, here it is: