How to Purchase Non-Performing Notes: Good Brokers are Key…
September 9, 2008 by notebuyingprofits.com
Filed under Brokers, Finding, Videos
On How to Purchase Non-Performing Notes:
You know, A Good Broker for your Note Buying business is worth his or her weight in gold.
This past week, I received 4 phone calls from one of my “Good” brokers. He called me to touch base on where I was on my bid. I had bid a pool that he had brokered out for a friend of his whom he used to work with at an investment bank before getting into brokerage.
Always polite and professional, he would ask me “So, how is your due diligence coming along? Is there anything you found that you didn’t expect?” Or he’d say something like: “So which ones have you kicked out due to value, if any?”
And he always ends with something that demonstrates to me that he’s working to keep me and the seller “on the same page”. He’ll always say something like “well, what I’ll do is to tell John what you’ve just shared with me in case you haven’t already told John” (no, I haven’t told John). “And then I’ll let him know that you’ll be contacting him again once you’ve finalized everything…when do you think that will be?”
This broker is always ADDING VALUE – he’s helping the relationship between me and my seller along, and not coming in the way.
====> Let me give you a quick 1-minute VIDEO Demonstration of what a good broker delivers:
(This by the way is straight out of the ‘A-Z Profiting from Defaulted Mortgages Business-in-a-Box’ – where I thoroughly train you on differentiating GOOD, BAD & UGLY brokers!)
He’s also AWARE and ON TOP OF what my bid is, what it means, why I’m bidding what I’m bidding, and what the potential kick-outs (if there are any loans that I might “kick out” or pass on as a result of a value fade or a title issue.)
NOTE BUYERS – TAKE NOTE: if your broker isn’t helping you along, you’re not getting value for your commission $ when buying notes.
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