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News
Of The Note/Cash Flow Business For Brokers & Investors |
"First, worry about FINDING THE BUSINESS,
then worry about WORKING THE BUSINESS later."
-- Warren Perry
Hello again ,
In this issue Warren Perry, a VERY experienced cash flow investor and broker, shares "The Best Advice I Ever Got." I hope you profit from it!
I've been telling you about Dean Engle's Denver Note Summit, which starts on Sept. 17 -- just a little over a week from now.
(Summit details here: http://snipurl.com/denvernotes That automatically inserts the HUGE PAPER SOURCE DISCOUNT code for you).
Dean has put together a full 2-day program on how individual investors, buying groups, and people looking to raise private money to buy non-performing notes can create and manage their own note fund.
You'll meet a lot of people who are successfully buying and re-selling non-performing notes -- who knows what networking and partnership opportunities that may create for you?
I plan to be there as well, sharing ideas and hosting a brain-storming discussion.
If COST is part of what's holding you back, call or email Dana in Dean's office and ask her about the PAPER SOURCE SPECIAL designed to make it possible to get you into the Denver Note Summit.
Dana's direct line is 415-252-7254, and her email is dana@notebuyingprofits.com
Dean
tells me that he's almost at full capacity for the event, so if you
plan on going, you should register now, especially since he's still
offering DVDs of the previous Note Summit and a complimentary
spouse/business partner ticket with every ticket purchased.
I hope to see you in Denver!
Cheers,
P.S. Remember, I've arranged a HUGE discount to the Note Summit for you. When you register, make sure the discount code webns2 is inserted at http://snipurl.com/denvernotes If cost is an issue, don't let it stop you; ask Dana about the PAPER SOURCE SPECIAL PRICING: dana@notebuyingprofits.com or call her at 415-252-7254.
THE BEST ADVICE I EVER GOT
by Warren Perry
At one time in my business career, I had the occasion to work in the executive search industry with one of the largest executive search firms in the country. The search industry had always fascinated me and at the time, I had the good fortune to go through this company's highly rated training program and the even better fortune to be taught this program by an extremely capable instructor.
I remember this gentleman saying to the class; "First, worry about FINDING THE BUSINESS, then worry about WORKING THE BUSINESS later."
Those words have stuck with me and are basic to my thinking about the note industry for the simple reason that if you don't have leads to work, then you won't need to worry about having deals to work or
deals to close.
In my own workshops I have stressed the need to have lots of leads coming across your desk for the simple reason that many of them will not work out. I call it "The Skeleton of A Deal" and illustrate it
graphically as follows:
STEP 1. A lead becomes a "possible" deal.
STEP 2. A "possible" deal becomes a real deal.
STEP 3. A "real" deal can become a contracted deal.
STEP 4. A "Contracted" deal can become a closed deal.
A closed deal pays the bills and makes everyone happy.
In my opinion, brokers need to be spending 75% to 80% of their time marketing for their business for the simple reason that deals will fall apart or "not make" for all types of reasons.
**************************************************************
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
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What is important to keep in mind is that at any one time, you may have half a dozen deals on your desk and you may be in different phases of the cycle with each deal. You may be in Phase 1 with one deal and in phase 4 with another (all at the same time).
For the new brokers out there, worry about the marketing phase of your business and as time goes by, you will be fortunate enough to "have to worry about the deals you have in progress."
Warren Perry is a veteran note investor who is currently living in Australia.
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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?
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