Notes don’t have problems. As I used to tell the Real Estate Agents when I owned and operated a Real Estate Company, “Real Estate doesn’t have problems” it just sits there as an inanimate object. It’s the people, the owners who have the problem(s). When you “contact” the people with the problem, and you can solve it with the service or solution, you will be a “winner”. The same goes for Notes. Notes don’t have problems; it’s the owners who have the problems. They made the choice to take back a note and now need cash for any number of reasons: Medical, credit cards, overspending at Christmas, house repairs, car repair or replacement, a new toy, or serious stuff like bailing a kid out of jail. Who knows, but they have problems!
The point here is, you have to “contact” them. Your ship won’t come in unless you sent it out, it’s just as simple as that. So, where do you find them to contact them? That’s the sixty-four thousand dollar question. Almost all note consultants are falling over themselves looking in the same place and typically at great expense.
Here at the Note Servicing Center, we are continually looking for notes to service and have found the most effective way to mine for notes is to develop a strategy whereby you multiply yourself through others. You do this by developing relationships with Synergy Partners. If you have been in the note business for any length of time, or even for a few months as a new note broker or consultant, you probably have discovered that searching for that one elusive “note” can be not only time-consuming, but can also require a ton of money for collateral materials like brochures, flyers, postcards, stationery, business cards, printing, and ads, to say nothing of telephone bills and endless postage.
This article was modified from an article originally written by Roberta Standen and posted to this site on 2006/01/06.
