|
News
Of The Note/Cash Flow Business For Brokers & Investors |
"Every time you hear someone say that they
need to buy something, but don't have the money, you should
consider that a potential money-making opportunity."
-- Lonnie Scruggs
Hello again ,
In this issue Lonnie Scruggs gives us some real-world advice on "taking the mystery out of money." I'm sure you will profit from it!
Attached is a flyer on the upcoming two day workshop, Nov. 13-14, The Key to Creating Wealth Without Banks. It will be taught by my friend Tom Henderson, one of the most experienced note investors
in the country, and Gaylene Rogers Longergan, an attorney expert in real estate and notes.
Tom will be teaching lucrative ways to effectively apply seller financing and note techniques in today's confusing economy. After completing this course, you will be skilled at applying no-nonsense seller financing techniques to buy and sell property in today's uncertain investment climate. Gaylene will discuss in detail the legalities of owner financing, as well as how title companies view these creative strategies, including how the SAFE ACT has affected owner financing. Although the legalities will be
Texas specific, most of the legal concepts can be applied to all states.
Everything from creating wraps to selling or buying a partial note will be discussed. Contract forms, legal documents and clauses will also be provided. NO BOOT CAMPS OR MENTORING TO SELL!!
If you register now the cost is $995.00, a $300.00 discount. Please see the attached information or go to http://keytocreatingwealthwithoutbanks.eventbrite.com/
Cheers,
BIG YIELDS FROM SMALL DEALS
by Lonnie Scruggs
Just this week, Eric, a young man in our local real estate club, said he only had $5,000 and wanted to know how he could get started with such a small amount. I told him that the amount doesn't matter; what matters is that he get started. And NOW!
My advice to Eric (and to you) is to stop thinking like the "average" person, unless you want to be average. The average person expects to work a job for 30 or 40 years, then retire on a "fixed income" that somebody else fixed. If all you want out of life is to be average, just do what average people do. But I hope you set your goals to be much more than average.
The only real difference between rich people and poor people is the way they think. So start thinking in a different way; start seeing things in a different way; and start doing things in a different way. Start thinking like the entrepreneur that you were meant to be. Entrepreneurs don't wait for deals--they create deals.
Now, let's get started making big yields from small deals. And the first requirement is to get rid of all that "stinking thinking."Forget that "good education," "good job," "good retirement" brainwashing the schools laid on you. That's what keeps average people average.
How to make 15% to 20% the simple way
Making 15% to 20% returns on your money is simple. And there are opportunities all around you if you will look for them, recognize them, and act on them. Every time you hear someone say that they need to buy something, but don't have the money, you should consider that a potential money-making opportunity.
There are always people who need to buy something but don't have the money. And because of their lack of financial discipline, they never will. But they can make monthly payments with no problem. So focus on these type people and get in the financing business. That's where the real money is. And it's such a simple and easy way to create passive cash flow.
Some of my best customers are former tenants and people who bought mobile homes from me. Even after they pay off the home, many have called later wanting to borrow anywhere from $1,000 to $5,000. And none of them have ever complained about paying 18%, or more, in interest. Most of them doesn't even ask what the interest rate is. Also, most of them want the payment to be the same as it was on the mobile home.
**************************************************************
Where do you find the major cash flow funding sources? In
THE PAPER SOURCE REGISTRY OF NOTE INVESTORS. Go to
www.PaperSourceOnline.com at the Registry of Investors tab
**************************************************************
$308 per month for life
Within the last two months, I've made five such loans. One was for $4,000 to a woman who bought a mobile home from me eight years ago. Her payment on the home was, and still is, $308 monthly. For the past eight years, she has never missed a month paying me $308. And in all probability, she will continue paying me $308 every month until one of us dies.
Every time she gets close to paying the loan off, she calls wanting to borrow more money. So I just add the remaining balance to the new loan and start over...
I'm still doing business with a couple who rented an apartment from me over fourteen years ago. How's that for steady cash flow? Every time they want to buy another car or pickup truck, they call me for the money. I've lost count of how many we've done.
Last month, I made a $1,000 loan to another one of my mobile home buyers who needed to have some dental work done. This week one of my past customers wanted to borrow money to get her mama out of jail. Hey, I swear, I'm not making this stuff up. Folks, this is an amazing, amusing, and profitable business.
Attention landlords!
Here's a simple way how some of you landlords can create extra income from your tenants. What does your tenant do when they want to buy new furniture? Or that big screen TV? Or a new computer?
They most likely put it on a charge card or get the store to finance the purchase at 18% to 21% interest. Why don't you offer to finance what they want and collect that interest?
Let's suppose you learn that one of your best tenants wants that latest big screen TV costing $1,000. They won't ever save $1,000, but they can make payments forever. You find out which TV they want, negotiate a 10% discount for a cash sale, and have it delivered to them. (If you can't negotiate a 10% discount for cash, you need a seminar on negotiation).
You charge them $1,000, plus $75 processing fee or whatever you want to name it. They pay the $75 processing fee and sign a note for $1,000 payable $50 per month for 24 months. What have you just done? You've just created a little note that will earn you 38%. Let's go over each step.
You negotiate a 10% discount ($100) off the price when you buy the TV. It's not hard to get a 10% discount for a cash purchase. But you do have to ask. Try it! You charge your tenant the retail price of $1,000, plus a $75 processing fee. They sign a note for $1,000, payable $50 monthly (more if you can get it) for 24 months. You now have $825 in a note with a face value of $1,000. What is your yield/return? Try 38%.
Never let the mail carrier pass your house without leaving a check!
LONNIE SCRUGGS' NEWEST BOOK TAKING THE MYSTERY OUT OF MONEY IS SETTING SALES RECORDS!
If you depend on a "job",
then you need to learn what financially successful people do...make
your money work for you. Lonnie Scruggs' brand-new book shows you how to
work smart by doing a little work one time, and getting paid for a long
time.
TAKING THE MYSTERY OUT OF MONEY shows you how to do that. Read about it here.
It's loaded with case histories & examples to help you understand money and finance so you can reach your financial goals.
Best of all, it's written in the down-to-earth, easy to understand conversational style that Lonnie is famous for.
Just Some Of The Topics Covered In This 253-page Book:
· How To Use A Financial Calculator
· Power Of Compounding Of Interest
· How Many Doubles Do You Have
· How To Create Notes & Cash Flow
· How To Use Notes To Buy & Sell
· How To Improve Notes For Better Yield
· How To Buy Notes In Pieces
· How To Make Big Yields From Little Deals
· Making Hard Money Loans
· Profits From Prepayments
· Time Value Of Money
· Rule Of 72
· Understanding CAP Rates
· Simple Interest vs Compound Interest
· Difference Between Yield & Discount
· How Much Does That New Car Really Cost?
· New Car Or ROTH IRA?
· Money Is Not The Problem.
· Is Being Poor Heredity?
· Job Security Or Financial security?
· Coulda--Shoulda--Woulda
· Who's Planning Your Retirement?
Order Your Copy Now & Learn How To Fire Your Boss!
http://store.papersourceonline.com/taking-the-mystery-out-of-money/
If You Get Rich While You're Young,
You Can Have A Blast Growing Old!
How The SAFE Act Affects Seller Carryback Notes:
Strategies For Note and Real Estate Brokers & Investors
W. J. Mencarow has just published his analysis of the SAFE Act: How The SAFE Act Affects Seller Carryback Notes: Strategies For Note and Real Estate Brokers & Investors. It addresses questions such as:
* Do you need a license?
* How does the SAFE Act affect you if you want to buy, create or broker seller carryback notes?
* How many seller finance deals can you do?
* Can you legally get around the SAFE Act?
* Plus solutions to many of the questions we have all been asking ourselves!
* And many more ideas you may not have thought about ...
7 bonus documents are included:
- SAFE Act FAQs
- Text of the Federal SAFE Act (PL 110-289)
- HUD Model SAFE Act for States
- HUD Commentary on Model SAFE Act
- HUD Report to Congress On SAFE Act
- Proposed SAFE Act Rule
- Congressional Letter To Conferees
China...Iran...Colombia...North Korea...Sudan...
and so many more captive people in need of God's Word...
You can send a Bible to someone who desperately wants one!
Visit Bibles Unbound, a ministry of Voice of the Martyrs, and learn how you can become a Bible Mailing Missionary: www.BiblesUnbound.com
| | |
|
Featured Products |
|
Featured Products
|
|