Profit-Lesson #4:
"Sally Wants Cash Now!"

By Teddy Hanson

Let's briefly recap what you've learned in the first three Profit Lessons:

  1. Exactly what the note business is and how you profit from it.
  2. The step-by-step process, explaining what happens when a seller decides to sell a house and act like the bank and "carry back" the paper.
  3. How we come to the rescue of a person who has a mortgage note they want to sell for cash rather than continue collecting monthly payments on.

Now let's continue with lesson #4 and I'll show you what happens when Sally realizes that she needs a big chunk of cash right now rather than getting small payments on a monthly basis.

Onward... Profit-Lesson #4:
"Sally Wants Cash Now!"

Sally Finds You
Lo and behold, it just so happens that she gets one of your letters or she happens to see your ad in the newspaper that you buy mortgages for cash.

Wow! This is exactly what she has been waiting for! Her dreams have come true! There is no need for her to wait 29 more years to get her money, she can actually get her money right now!

So, Sally decides to give you a call. You talk to her and you find out that she needs the money to pay off some credit card bills and she is also thinking about buying a condo for herself. She is tired of renting an apartment.

You ask her for information about her mortgage note that she is collecting payments on and that she is now thinking about selling. You also ask her why she is selling, and what she thinks is a fair price for her mortgage note?

Then, you simply take down the information on your "Mortgage Purchase Worksheet", such as,

  • date of the note
  • current balance of the note
  • the interest rate
  • the monthly payment

(A full explanation of the exact procedure is covered in detail in my course "How To Make A Fortune In Mortgage Paper").

To get your copy, just Click Here:

This is pretty easy stuff too, not complicated at all. You need this simple information in order to make an offer on the note.

After you have gathered all the information, you tell Sally you'll call her back shortly after you have had some time to do some figuring on how much money you can offer to pay her for her note.

You Now Have A Motivated Seller
She wants the cash now and you can give her the cash in exchange for the mortgage note.

Now, what do you do next?

That's quite simple my friend! Why,

You contact me of course, with all the information you got from Sally!

After I do some figuring, I'll usually give you at least two choices. I'll tell you what the investor can pay for the whole note or what they'll pay for the next so many payments.

For example in this instance I might tell you, the investor will either pay...

  • $75,000 cash for the whole note or
  • $14,900 cash for the next 24 payments.

That's it for now. Next I'll show you how you actually profit from these notes.

Remember...

"You Don't Have To Get It Perfect...
You Just Have To Get It going!"

Click Here For Next Lesson

Article by Teddy Hanson of Profit Ideas, Inc. Teddy has helped hundreds of ordinary people succeed in their own home-based business, flipping mortgage paper. Visit him at http://www.lucrativedeals.com for FREE "how-to" information".

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