How to Buy Notes…Knowing Your Seller

You’ve probably heard of Sun Tzus (the famed Chinese warrior) instruction to his soldiers to know your enemy before going into battle.

Well the same is true with note buying.

Know your seller should be the mantra for every note buyer (and broker for that matter!).

Why you ask?

If you aren’t familiar with your seller you may find yourself in a position when trying to negotiate and not know what their key hot buttons are.

How to Buy Notes – My Recent Bid Example

Most people buy a home only once or twice in their lifetime, and it rarely makes sense to buy if you expect to move within two years. Most buyers live in their new homes an average of seven years or more. During a housing slump it may not seem like real estate values will ever go up, but it usually does. Homes appreciate about 4-5% per year as a fairly general rule.

Today’s recession that many Americans are suffering through, has several homeowners pondering whether they need to refinance the mortgages they currently have. A large number of homeowners now hold adjustable or variable rate mortgage loans, that at one time were quite affordable to them, and did not require them to make a substantial down payment if any at all. But over time the interest rates received enough adjustments to make them quite high now, this has homeowners flocking to get their mortgages refinanced.

To Homeowners Who Want To Be Mortgage Free For Life But Unable To Get Started

What good is it to send your kids to college if they then have to pay for debt their entire lives?

Do You Know The Next Step?

Most of us get our financial cues from the media or an advisor if we are lucky to have one. Our understanding of financial information for our specific investments is most times limited to the information sent to us by our employers.

Are you an expert in investing in the stock market?

When buying a new home you’ll know that this is probably the most important and significant financial outlay you’ll ever have in your life. What you might not be thinking about is that your hard earned home can be taken away from you in a flash. Of course, we know people can lose them, but we never think it’s going to happen to us. Yet, people lose jobs or fall ill every day and are unable to make their mortgage payments. You can avoid this if you have mortgage protection cover.