Issue XIV - January - March, 2006

I have been busy over the holidays, and many of you know I had computer problems at the first of the year, so I am just now finding the time to put out THE NOTE PROFESSOR NEWSLETTER. For those who have contacted me, thank you for being patient. Since I have received several calls wanting to sell me 2nds, which must be deeply discounted on the market, I am going to divulge a DYNAMITE note technique using your 2nds that will allow you to put deals together for virtually no money down, utilizing your 2nd liens. Here is an excerpt from THE NOTE PROFESSOR NOTEBOOK. If you have some 2nds, I know you are going to benefit from this one. Option with Payments (Nothing Down) More>>

An Anatomy of a Note

When you get into the note purchasing business, you will be surprised at the sloppy structure many of the notes contain. You will also be surprised that many professionals will take back notes that are vague at best, and just outright worthless at the least. For example, a Realtor brought me a note in his "portfolio" and wanted to know its value. Here is the way the note was drawn up. "Payor will make monthly payments with 10% interest for ten years". Did you notice that there is no mention of when the payments start? Are the payments interest only? Do the payments include principal and interest? Does it state what the payment will be? These are just a few questions that are unanswered. You might think no one would create a note this shabby. More>>


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Definition: BASIS POINTS

       One 100th of 1%......For example, rates were 8% last week and rose to 8.25% this week. The increase was 25 BASIS POINTS.

 

 
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