Brokering Notes and Jump Start Your Note Buying Business
I have been flooded with requests from investors and students who want to broker non performing notes. I wanted to help clarify a couple of things that will make it easier for anyone who's considering brokering. And help improve their close rate and their profits from brokering (who doesn't want to increase the amount of money they make from their brokering activities?!) Brokering notes is obviously the perfect strategy for folks who want to get into the note buying business, but don't have access to money currently.
Sherry's Success With Brokering Notes
I have been working with a woman named Sherry who is a broker. Sherry knows what she's doing, she knows how the game is played, and if you copy what she's doing, you'll be on the revenue track for note brokering. Sherry came from banking, got into brokering a few years ago, and has been doing very well for herself.
Brokering Notes - The Four Keys to Success
Here are Sherry's four keys to success...
1. Determine if the buyer will really buy
2. Determine if the seller will really sell
3. Know when to step out of the way (may be the 1st trade or the 3rd trade, know who you are working with.)
4. Maintain communication between the buyer and the seller, lose one and there is no trade.
Remember this, the better you know the process and the product, the greater the likelihood of a successful trade.
Build Relationships When Brokering Notes
You may thing that it sounds like it's only for pros who come from a banking background. It really isn't. It's not rocket science. It just takes some creativity and the right approach. It's actually about relationships when brokering notes. So if you fancy yourself a good "people person", you might be interested in learning how you can broker bank notes for some extra cash.
Be your own success.