Marketing » Cash Notes Blog

How to Market to Note Holders

May 162012

I received a question the other day that I felt was worth answering to everybody. I think the information provided will be helpful for all working the note business.

Q.I was given the name of your comapny by Donna Bauer as a source for leads, you say you have worked this for man years in your opinion what have you seento be the most
effective way to market the leads to be successful

A.The most important thing I have seen over the years to be valuable for an effective note business is repeat marketing. You need to continually market to your list on a quarterly basis. Here are a few tips to follow:

Be sure to create some kind of logo or simple image that will be recognized on each of your mail pieces. This will help the note holder feel like they know you as they see more of your mailings with that same marking.
Clean your list. As you mail to your note holders you will have some mail pieces come back undeliverable. Remove those items from your list so you do not mail to them again the next time you mail out.
Build your list each time. You should add more leads to your list each time you mail so your list is always growing with new leads.

Any kind of marketing is a numbers game and this business is no different. Ultimately, the most important thing to make sure you are successful is to communicate well on the phone when the note holder calls you back. You need to find their needs and help them achieve what they need.

Seller Finance On The Rise?

Marketing No Responses »

May 082012

I see real estate for sell by owner every single day all over the country. It is certain that there is not a slow down of seller financing and more likely in fact that there is more of it happening? The economy and the games played by the banks are causing this trend in seller financing. If you know where to look and how to look at things there is always a silver lining and for us in this industry that sliver lining is more seller financing and a need for more seller financing.

How can you benefit from this trend?

First make sure you are still marketing to your list. Let the note holders on your list know that you are still around and very active in your business and present yourself in a professional manner.

Continue to network with local professionals and build your referral pipeline. this is one of the best ways to build your note business. Make sure you are taking every opportunity to let others know what you can offer.

Invest yourself. Did you know that you can use your IRA or a 401K from a previous employer to invest in real estate notes for yourself? It is safer for you than the stock market as many are finding out and more and more people are making the switch to invest in real estate now days. One of the safest investments in real estate is real estate paper and if you have money in your IRA you can invest with no costs and grow your nest egg better than ever before.

If you are interested in learning more about how to use your IRA to invest in notes email me and i’ll introduce you to somebody who can give you the guidance you need.

Private Noteholder Mortgage Notes Leads, What Dates Work Best?

Marketing No Responses »

Apr 232012

I often get asked by new brokers what date ranges are best for the note business. The answer is not so much a blanket answer for every one as it is specific to your business and expectations. For most the answer is going to be the same. Work with leads that are not older than 3 years. This allows you to find notes that may have some seasoning while giving you some work to start on. In truth the answer varies based on a few questions you must first ask yourself;

Are you in this business for the long run or just “trying it out”?
Are you looking to buy notes or broker them?
Are you an experienced investor or broker?
Are you looking for notes with extreme seasoning?
Are you willing to receive fewer calls to find god seasoned notes?

These and perhaps a few other questions must be seriously thought of before you decide what age of leads you need to deal with. If you are brand new to the business and if you are anxious to start making money and unsure how it will work for you then you need to start with newer leads to get more calls. This will allow you to get some practice talking to note holders and allow you to ease into the business. You will have more potential deals when the leads are slightly newer. One of the things you need to accept as you start this business is that you are working a numbers game. You must be willing to play the numbers. If you do then you will see great results long term. If you are not willing to stick in the game when things don’t work out well in the short term then you need to grow a bit before this business will be right for you.

If you are an experienced broker or investor and want to find some good seasoned notes then working with leads that are older than 2 years may work of you. You should have the patience needed to wait for the note holders to call. You should have experience with the business and with marketing to be able to get the note holders to call. You will also realize that you will have fewer people contact you from these older leads. many addresses will be different from changes and moves over the years and many of the notes will already be gone. those few calls you do get may be great opportunities but you will need to send out more marketing pieces to make sure you have the numbers to make this work.

So, in conclusion, for most of you starting the business you need to work with leads that are not older than 3 years and plan on marketing to several thousand people before seeing a lot happen with the business. It takes time and serious effort to make the note business work for you.

Postcard Printing and Mailing Services

Marketing No Responses »

Mar 092012

I have often been asked what services I suggest for postcard printing and mailing. There are a lot of options out there and a lot of companies who will do these services for you. Not all are created equal however. I have done a lot of research on this topic and searched to find the best companies I can for such services. I would recommend that you work with a company who can do both the printing and mailing of the postcards for you. One great option is PSPrint and you can get 40% Off Postcards through them with this link. they can print 1000 cards for you for as little as $120.

The mailing costs from these companies are often lower than your cost would be to put your own stamp on it. You really can’t beat it.

Another option is The Loan Marketer. They are a little higher price but offer some great templates already that will work great including the following example:

Mortgage Notes Marketing

These are two quality companies I know who will get the job done.

Another great one is PGPrint. They also have some great opportunities available. See the deals PGprint.com is offering this month!

Mortgage Notes Investing for Beginners and Advanced

Marketing No Responses »

Feb 142012

I decided to create a new series of articles today that will cover more details of the steps and resources needed to work the mortgage notes business. There are some great opportunities that some of you may be missing simply because you are not looking for them. I took two approaches to the articles and will update them more as time goes on. I decided to create some details for those just starting the business to once again clarify some basic steps and ideas needed. I then took some time to discuss options for investors who are buying or who want to start buying notes.

One of my recent articles discussing these points will soon be placed on some online article sites and some of the others are available on my articles page found here. I hope you enjoy the mew material and please let me know if there is a topic you desire more information on. I would be happy to provide more details.

Preparing for success

Marketing No Responses »

Feb 082012

One of the hardest things for most people who start their own business is getting motivated or staying motivated in the face of new challenges. I have coached people to start their own business in real estate, notes and other endeavors for years and the only thing I have ever seen that can defeat any of them is fear. If you do not know how to react to the challenges that come your way and if you let fear take hold then you lose confidence and everything looks ten times harder than it is.

I have struggled to get this point across to so many individuals over the year and with many I succeed. With some the fear is just too much and they succumb to it and give up. Running your own business is not easy. There are no easy answers. If you have watched the news or paid attention to the note industry this past year then you may know that one of the big infomercial names of the industry has been taken down for suggesting that this business is “easy”. It simply is not and if you expect to succeed you have to first accept that anything worth it is going to take effort. In the coming days and weeks I intend to put more information out about the need for a winning attitude in order to succeed. I will work to add many posts with details to assist you through the tough times of starting a business and I will work to give good insights that will help with having a winning attitude.

I will also work to update and add to my articles page. I will provide new content and update those articles that have been written about marketing the note business. Keep an eye on the site and feel free to let me know if you have some specific questions or things that you struggle with. I’d be glad to give insights as best I can to help you overcome the challenges you see in your business.

Mike@NoteDocs.com

How to Find Cash Flow Notes With Direct Mail

Marketing No Responses »

Jan 122012

Every business has it’s struggles and with most the biggest issue is getting the right customers. Without the customer there is no business after all. In this business the customer is the noteholder and you need to do the work of finding note holders. Not only do you need to find notehoders but you need to find the ones who want to sell their note. Thus the question: “how do you find cash flow notes?”

Well, here I would like to talk abotu some options with post cards. I want to be clear that this is not the only approach that will work but I also want you to be clear on what is required. I’ve worked with a lot of people over the years and I can’t tell you how many think that they will make their first deal with the first small mailing. Sorry folks, it just doesn’t happen that way for most. It’s an expensive lottery ticket and if that is your expectations or hopes it is nothing more than a lottery ticket. I say this first to help you realize that this is a business and you should run it like a business and treat it as such. If you don’t have the proper expectations then you are just wasting time and money. You must be serious and you must accept the reality of business.

Direct marketing is an interesting form of marketing and has been around for many many years. Direct marketing in the note business has also been around for many many years and anybody who holds a note has most likely been contacted by other marketers so you need to stand out.

Here are a few ways to stand out in your mailings:

Be sure to use some logo or simple design on all mailings
Repeat mail to your list at least once a quarter
Try creative options such as “Don’t sell your note! Rent it instead”
Test multiple approaches, tropical picture card, money picture, blank hand written, simple printed…
Add new leads to your list often

Remember that this should only be part of your business. You should also be working on building a referral pipeline and perhaps try to work with FSBO sellers too. I’ll give some tips pretty soon on other ways to find notes with no cost.

Postcard Marketing -Full Color or Black and White?

Marketing No Responses »

Dec 292011

There are two common options for the full color card front.

Use a card with a pretty picture to get them to turn the card over. A tropical scene or something unusually beautiful.
A pretty picture with a message written on it. The idea here is simply a backdrop for our message.

Both options will bring results. The idea behind the one with a beautiful beach scene or similar beautiful scene is that they will wonder who sent it and where they are. Is it someone they know? They will turn the card over and there see our offer to give them cash. The other approach will have a beautiful scene or a handshake or money or some combination of those and the message that they have another chance to get their money or Cash Now. This works well with newer leads that have just sold within the last few years.

The front of the card should read:

Your 2nd Chance

To Get your

CASH

From the

Property you sold

Some other options for the front of the card:

(Focusing on older leads or larger note leads)

Don’t Sell Your

Note!

***

Rent

Your Note Instead of Selling it!

***

Get Cash

from Your Mortgage

Note Without Selling it!

***

Increase the Amount of the

Payments

from your Mortgage Note!

***

Get Your Mortgage

Note to Pay Off Quicker!

***

Receive ALL of the Payments

on your Mortgage Note in

ONE YEAR!

The back (address side) of the card should read:

(aligned left)

Do you know you

can get cash by

selling All or Part of

your mortgage note?

Contact Mike @

800-123-4567

www.mywebsite.com

Clip this card to

your NOTE for

future reference!

(Notice that “all” and “part” are different colors and All is bold and Part is italicized)

Black and White “budget” cards:

If you are not ready to commit to sending out thousands of cards through mass mail then you may be more comfortable with doing them by hand. that is really the only other option I would recommend. If you want to do handwritten card then use the following script on the front of the card and just the addresses on the back.

Did you know you can get cash by

selling All or Part of your mortgage note?

Contact Mike @ 800-123-4567

www.mywebsite.com

Understanding the Statistics:

No matter how you do a direct mail approach you should expect no more than ½% response. This is an average after consistent marketing over time. That does not mean that you will get that return each and every time. It is what we see over a long period of time. DO NOT EXPECT IT EACH TIME. This seems to be one of those areas where people just don’t get it. Understand what a statistic is and how they are determined. It is not a solid guarantee. It is something that shows what has happened in the past. Overall these may be the results you see when you market consistenly over a year or two. If you only do it for a month or three months or even six you may not see the same numbers because you have not given it enough time.

Returned cards:

It is also important for you to understand that you will get some of these cards coming back undeliverable. People move and things change over time. You will see between 10% and 30% coming back at you undeliverable. I just through them away and forget them and move on with the next ones. The leads you purchase are public record and are sold by anyone who wants to sell them. There is no such thing as an exclusive lead. Some people will respond saying take me off you list or stop sending cards. This is part of the business and you can’t let that bother you.

Next week we will talk about other strategies for finding notes. However, this strategy will get one of the quickest responses for you. This is a strategy that will get money in your pocket in a quick amount of time.