There’s no doubt this is the best time ever to be in the Cash Flow Business, but I think we can all agree that FINDING notes is the key to success. In other words, it’s all about how well you develop leads!
Finding the money to fund a note deal is not a problem- as our Elite members know, they have ready access to a whole network of funders and also steady, helpful guidance and consultation that beat the learning curve and help them get transactions done professionally and expeditiously, usually without any problems unless there are “surprises” (which happens sometimes but even when it does, it’s the corporate funder who takes all of the risk so the Elite member can concentrate on generating leads and collecting referral checks.
So all of the the help is right here; there is no travel necessary in this business; no real time commitment necessary (you can go places on just 5 hours a week or so); there’s no advanced class needed .
“Learning and earning” is best– just start and enlist the help of experts which is why our Elite program is so popular.
What you do absolutely have to do, however is reach noteholders and get them to call you. And we find the best way to reach them on a grand scale is through attorneys. You can build your own contact list- they’re easy to find. And what you need to do is not only establish credibility when you contact them; you also need to distribute solid educational bible-type marketing materials that will thoroughly educate the noteholder, and that attorneys and their clients will refer to again and again.
Your educational marketing piece should cover all aspects of how to manage their note– and also what all of their options are.
People only do business through people they trust. That’s why simple letters are not enough. Sure, a letter, ad or post might net you a deal now and then, but most noteholders don’t sell after the first letter. They sell sometime after they’ve initially taken back the note– just not right away. The key is to position yourself as the “go to” professional.
And if you give them credible, educational reference material that positions you as the authority, and distribute these through attorneys who have already built up a level of trust with their client, then you’re the one who’s going to get the business.
Here’s an example of what you might do:
You might start out with a ready reference piece– “10 Things Every Note Owner Must Know”. Make it solid, make it credible. Record an information line that noteholders can call in for a non-obtrusive, low-key way to get thoroughly educated on all of their options, including selling the note for cash or requesting an appraisal. This is a highly effective way to do business because a hotline is nonthreatening and many people initially do not want to talk to a “live” person but they are interested. After they call the hotline, then when they call you later our experience has been they are ready at that time to do business–with you– because they are thoroughly “warmed up” at that point.
Distribute your reference material through attorneys touting the information line. If you want to do several deals a month, this is the path.
There are many ways to approach this. Believe me, it’ll make a major difference in your bottom line. I’ve given you just one idea. There are ready made solutions as well.