How to utilize the Member site

Welcome, Elite member!

1. Market to find noteholders using the marketing materials within the document package that was shipped to you via Priority Mail, and direction you receive within the Get Started Orientation and also within the “How To” Turn 90%..” program.

(Also listen to the FUNDER INTERVIEWS on the Member page for important information on the types of cash flows they buy)

2. When you get responses, locate the Note Intake Sheet contained within your program kit that was shipped to you. Ask ALL of the questions on the sheet and fill in the answers.

3. During the initial call, ask for a COPY (NOT the original yet) of the note, mortgage and closing statement (if the lead is a real estate note), or just the note (if it’s a business note), or just the document (if a structured settlement, life settlement, lawsuit or lottery award). Oftentimes, the noteholder does not have immediate access to the document(s) when they call. Ask them to locate them and FAX or Email you a copy ASAP. (The attorney or closing agent who originally recorded the transaction will likely have the document if the caller doesn’t have it.) A serious seller will ALWAYS get you a copy. Tell them you can get them some numbers usually with 24 hours as soon as you have this info.

4. You can get them a quote without the document copies. However,  we recommend you ALWAYS insist on those copies. Let them know it is necessary so as to ensure you can get them some ACCURATE numbers. Any serious seller will comply. If the caller is uncooperative and/or insists on you quoting without it, that’s a red flag. The caller may well be another broker trying to get some numbers on a transaction that will likely go nowhere. You do not want to waste your time on duds. You want SERIOUS inquiries only and a copy of the document is a very reasonable request at this point.

5. When you receive the document copy, review it and compare the information on the doc to the info you have on the intake sheet. You may well find that corrections must be made. It is not imperative that you get out a financial calculator BUT if you have one, I think it is very good practice to figure the payments, present balance, etc on your own (using the easy 5-button instruction you received in the CD/workbook) and make sure the numbers match up with what’s on the doc. You will also want to verify the PRESENT balance and make sure it accurately reflects what is owed RIGHT NOW at the point in time you are going to request a quote from the funder.

6. Transpose the correct information on to the appropriate submission form found on the Elite member page. Depending on the TYPE of cash flow, just pick out the right quote sheet or submission sheet.

7. Open the form and enter all of the information into the respective fields.

8. When finished filling out the form, look for two buttons in the upper right hand corner of the form that say: “Submit by Email” and “Print form”.
Hit “submit by email” but DO NOT send the email yet.

9. Now, hit “print form” but DO NOT actually print the form yet. Under “printer name”, choose “Adobe PDF” then hit OK and SAVE the PDF file to your computer.

10. Go back to the email you have yet to send. Use the “insert” command to ATTACH the PDF file you just saved to the email. This will give the funder a legible copy of the completed form.

11. Now SEND the email. (You will notice that the email will be routed to the appropriate funder with the subject line “NoteInvestors Elite Member request for quote” so they know it is coming from an active member.) You will receive a direct response from the funder, usually within 1 business day.

12. When you receive a quote from the funder, now it is time to quote the noteholder. SUBTRACT YOUR FEE BEFORE QUOTING THE NOTEHOLDER.  Then give the noteholder a WRITTEN quote on YOUR letterhead based on the present balance (as of the date of the quote) and # of payments remaining. If the funder has also quoted a partial purchase, quote on that, too but SUBTRACT YOUR FEE before doing so.

13. Follow up as appropriate. When an offer is verbally accepted, let the funder know right away and they will send you a PURCHASE AGREEMENT form based on the parameters agreed upon. Make sure your fee is spelled out and subtracted from the amount of the original quote. The funder will then take it from there and handle all backend due diligence and paperwork and further communication with the seller for you. OF COURSE, if you prefer to remain involved as the point person, you certainly have that option. Just know that YOU are the BROKER OF RECORD and are in line to be paid when the transaction closes.

14. When the transaction closes (usually with 30 days or sooner, allowing for all funder due diligence– if a real estate note, the funder will handle the appraisal, etc.. in any case ALL EXPENSES ARE INCURRED BY THE FUNDER and you will not have to worry about any of that), the funder issues TWO separate checks at the closing (which YOU do NOT have to attend): One check to the seller (for the amount they accepted), and one check to you (the amount the funder quoted less the amount the seller accepted = your fee).

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