- Note Course Bonus: 7 Most Common Questions Note Holders Ask
Published: Mon, 02/13/12
A Paper Source E-Course Bonus
Hi ,
I have GREAT news.
The other day I got the latest figures that show that more
and more property sellers are creating notes, agreeing to accept
payments from buyers.
There are many reasons people agree to a carry-back real estate
note including:
Quick sale of the property
Monthly income from the note
No hassles of bank financing
More qualified buyers
Property that is hard to sell or finance
Rather than waiting 20-30 years for payments, many sellers opt to
sell future payments to a note buyer.
In this issue Fred Rewey and Tracy Z discuss the 7 most
common questions they receive from note holders on selling mortgage
notes and trust deeds.
If you have been in the note industry for long, or even if you are
just starting out, you have no doubt heard about Fred Rewey and
Tracy Z. - and for good reason.
Fred and Tracy have been in the note industry going on a combined
40 years.
This husband and wife team have earned industry awards (including a
car) and been keynote speakers for BIG industry events,
so when they have something to say, people listen.
I'm sending this out, and the special deal I cut with them, as my
way of saying THANK YOU to everyone who reads this newsletter.
Until midnight next Monday, Feb. 20, you can get Fred Rewey and
Tracy Z's Finding Cash Flow Notes Training for the lowest price
available (even cheaper than buying direct from them)!
When I first heard they put together an online training on note
buying, unveiling their personal strategies and marketing methods,
I assumed they would charge a hundreds of dollars - and it would be
worth every penny!
When I heard you could take their entire online training for under
$200 - I thought they were nuts (and you are not even going to have
to pay that!)
The fact of the matter is that you would be hard-pressed to find a
more complete note buyer marketing training - at any price.
You can grab FULL ACCESS to their course at a special price - but
only for a limited time. The opportunity closes in just a few
days.
This special link will give you immediate access to four preview
videos and a special sign-up page:
http://www.findingcashflownotestraining.com/fe/11363-myths-facts
Even if you don't think you need inside secrets from the top
industry players, or copies of actual marketing materials they have
used - you are going to want to see the free videos.
The course is 100% guaranteed and I give it my highest
recommendation.
Yours truly,
W.J. Mencarow
President, The Paper Source, Inc.
Editor, The Paper Source Journal
P.S. You really are not going to believe the price I got for you.
It is even cheaper than they sell it for!
http://www.findingcashflownotestraining.com/fe/11363-myths-facts
********************************************************
THE 7 MOST COMMON QUESTIONS NOTE HOLDERS ASK
by Fred Rewey and Tracy Z
Here are the 7 most-common questions we receive on selling mortgage
notes and trust deeds.
"Why Would I Sell My Mortgage Note?"
Circumstances change and many sellers would prefer cash today
rather than small payments that trickle in each month. Here are
just a few reasons people have sold their note for cash:
Retirement
Taxes
Investment Opportunity
Expensive Medical Care
Vacation
College Tuition
Unexpected Financial Changes
Peace of Mind - no more worrying if the buyer is going to miss
payments or having to foreclose
Accounting headaches, IRS regulations, paperwork hassles,
and the list goes on...
"What Is A Note Appraisal?"
A note appraisal reflects the current market value of your payments
similar to what a real estate appraisal provides for real property.
Frequently referred to as a "quote" it shows what your future
payments are worth to an investor in cash dollars today. We
recommend having it evaluated once a year as pricing may change
based on market conditions.
"How Do I Maintain the Value of My Note?"
Many of the items that affect the value were determined at the time
the property was sold. However, keeping good records of the
payments received and requiring the buyer to provide annual proof
of current taxes and property insurance will help maintain the
value of your important asset.
"Can I Sell Just Part Of My Promissory Note?"
Investors can purchase all or part of the remaining payments.
Selling part of the payments allows you to receive a lump sum of
cash up front, then payments when the note reverts back to you.
To minimize the discount, many people elect to sell just enough
payments to meet their cash needs today and keep some of the future
payments as an investment or nest egg. Always ask for an option
that meets your needs.
"How Is The Value Determined?"
The value of a note is affected by the down payment, interest rate,
payment amount, length of repayment, buyer's credit rating, and
payment history. The type, condition, and value of the property
also impact the value of your note.
The time value of money, which makes payments due now more valuable
than payments due in 20 to 30 years, is also factored into the
offer. Due to inflation, money in your pocket today is generally
worth more now than later. All of these elements will be taken into
consideration in determining the current value of your note.
"How Will Selling My Note Affect The Payer?"
The payer or buyer experiences no change in the way the payments
are structured. The only change will be the address where the
payments are mailed.
"How Do I Get Started?"
The first step is to obtain a quote from a note buyer. The investor
will ask some questions on the property sale and terms of the
promissory note. This can usually be done over the phone or by
completing an online worksheet. The investor may also request
copies of the documents relating to your transaction, such as:
Promissory Note
Mortgage (or a Trust Deed, or Land Contract in some states)
Closing statement
Buyer information
Pay history and current balance
Previous title insurance policy
Current hazard insurance policy
The investor will provide an offer subject to the standard title,
appraisal, and buyer's credit review. Once the review is finished
and the documents gathered the transaction is reading for closing.
This process typically takes 2-4 weeks. If preferred, an attorney
or title company can handle the exchange of funds for the original
closing documents.
**********************************************************
Remember, until midnight next Monday, Feb. 20, you can get Fred
Rewey and Tracy Z's Finding Cash Flow Notes Training for
the lowest price available (even cheaper than buying direct
from them)!
This special link will give you immediate access to four preview
videos and a special sign-up page:
http://www.findingcashflownotestraining.com/fe/11363-myths-facts
Even if you don't think you need inside secrets from the top
industry players, or copies of actual marketing materials they have
used - you are going to want to see the free videos.