October 2006 Newsletter
I. Greeting from
Roberta Standen
II.
RainMakers - Part 2 by
David P. Butler
III. Synergy Partner – A
Bankruptcy Court Appointed Receivers and Referees
IV. Upcoming Events
I. Greeting from Roberta Standen
As I paused from writing
this newsletter for a quick look out the window, I couldn’t help but linger
awhile to enjoy the view stretching out before me. The sight of the Black
Oaks dressed in brilliant fall fashion, the brilliant yellow of Poplars
towering above the flaming orange of the Chinese Pistache trees amid the
dark green conifers along the driveway made me glad to be alive. Strange, I
drive up to the house every day typically so immersed in thought or concern
with yesterday’s task undone or unfinished plans for tomorrow, that I didn’t
even notice the native Toyon bursting with fall berries or the bushes of
chrysanthemum bowing low under the heavy load of yellow, rust and white
flowers. Funny, how I never took the time to appreciate how spectacular this
scenario looked against the backdrop of the distant mountain peaks or under
the azure sky dotted with a few puffy clouds. Where have I been? How did I
miss today??
So, I’ve decided to begin this newsletter with a little prognosticating. There are two days in every
week that we should not worry or fret about and from which we should keep
ourselves free from fear and apprehension. The first of these days is
yesterday. Yesterday, with its mistakes and cares, its’ faults and blunders,
its’ aches and pains. Yesterday has passed forever beyond our control. All
the money in the world cannot bring back Yesterday.
The other day we should not worry about is Tomorrow. Tomorrow is also beyond
our immediate control. Tomorrows’ sun may never rise, either in splendor or behind
a mask of clouds. Until and if it does, we have no stake in tomorrow, as it is yet
unborn. You are only great tomorrow because of what you do today. Most
unhappiness is nurtured by putting off living.
This leaves only one day. Today! I submit that any man can fight the battles
of just one day. It is only when we add the burdens of those two awful
eternities: Yesterday and Tomorrow that we buckle under the load.
I recall a “Salesman’s Prayer” that went something like this:
“This is the beginning of a new day. Today is important to me because I have
traded a day of my life for it. Therefore, I want it to be good and not
evil, success and not failure; in order that I may always remember the price
I paid for it.”
Take a moment, look around, and be thankful for family and friends; for your
measure of good health; for love and life and all the rich Blessings
God has bestowed upon us all. We appreciate all of you who take the time to
read this Newsletter. Have a Wonderful Day….Today!
This month’s newsletter includes Part II of an excellent and timely
article by David Butler with Hotspur Investment Group. You will
find Part I posted on our website at
www.sellerloans.com. At the end of the article he announces an
upcoming workshop that you will not want to miss coming up next month in
Denver.
Building your business through” Synergy Partners” section features Bankruptcy
Court Receivers and Referees this month. Also, be sure to check out the
upcoming events calendar. Roberta
II.
RainMakers - Part 2 by David P. Butler
Learning new ways of conducting business – and providing your clients with the most up to date marketing concepts and problem solving techniques – will play a huge role for the Real Estate Professional in the 21st century. That role includes re-educating themselves based on current market conditions.
Paradoxically, two of the most powerful tools an elite Real Estate
Professional can have at his disposal in today’s economic environment – a
basic working knowledge of Exchanging; and using Seller financing – are
actually somewhat advanced deal making techniques that have been practiced
by more enlightened real estate professionals and real estate investors, for
over 50 years.
There are several powerful reasons for this change in the real estate
marketplace, which are creating a boom in the use of the Exchange concept as
a method of concluding real estate transactions. One is that several changes
in federal tax regulations over the past 30 years have increased the tax
advantages offered by exchanges – while most other tax-related benefits of
RE investing have been significantly stripped away!
Tax deferred 26(IRC) USC Sec. 1031 Exchanges are not used just for larger
commercial real estate transactions or special use properties anymore.
Today, most RE Exchanges are actually being completed on bread & butter
properties that are typically listed by retail residential real estate
agents, including: building lots and vacant land parcels, small multi-family
duplexes, tri-plexs, and quadraplexs; single-family rentals, rental condos/
townhouses, etc.
Just one example… To finish this article Click Here!
III. Developing Bankruptcy Court Appointed Receivers and Referees" as a “Synergy Partner”
This particular “Synergy Partner” is quite special to the Note Servicing Center.
In 1984 we had not given much though to integrating the servicing of notes or
any other cash flow for that matter into our business plan as a profit center.
One day, the Superior Court Judge who we had known for many years called our
office to make an appointment for my husband Tom to meet him in the County Law
Library. Tom had retired five years earlier as area commander for the California
Highway Patrol. He asked Tom if he would consider an appointment as a Referee in
conjunction with a case he had recently ruled on. He outlined the duties and
responsibilities of the referee which, in this case, involved the distribution
of income from a fractioned note that had been put together inappropriately and
unlawfully by a local real estate broker.
One of my favorite sayings is “opportunity swings on the hinges of adversity”
and this time it was not our adversity, but it was our opportunity and Tom
seized the day and reached for the “brass ring”. He accepted the challenge,
purchased our first ever computer and off we went to locate software to do the
job. This was the beginning of California Equity
Corporation, which later became the NOTE SERVICING CORPORATION. We now service
thousands of private notes and other cash flows on a national basis.
So, why does a Bankruptcy Receiver or Referee qualify as a “synergy partner”? It
is really quite simple. Typically in a bankruptcy case the Court orders the
assets to be sold or liquidated to satisfy the creditors. It is the job of the
receiver to get the job done. The Court does an Inspection of the financial
status and Statement of the Debtor. So, if there are promissory notes in the
debtors list of assets, they must be sold. As a note buyer or broker, you want
them to call you to liquidate the note - You need them and they need you!
Think about it!
But First,
THEY HAVE TO KNOW YOU EXIST. YOUR SHIP WILL NOT COME IN UNLESS AND UNTIL YOU
SEND IT OUT. FIRST, TO FIND OUT WHO THE REFEREE IS, YOU WILL NEED TO CONTACT THE
BANKRUPTCY COURT. This will be a District Court. Talk to the Court Clerk and ask
for a list of Referees. This may not work and you may have to actually go to the
Court to obtain the names. But it will be worth it.
My suggestions to develop this source is as follows:
1. DEVELOP A DATABASE GROUP a list of Court Referees and Receivers
2. Create a well written AND
FORMATTED PROFESSIONAL LETTER OF INTRODUCTION
3. KEEP IN CONTACT WITH THEM ON A REGULAR BASIS. With a well-structured follow
up form letter and send with a business card.
4. When contacting the referee,
let him or her know you have investors with cash who are prepared to
purchase notes for cash. Use the
AIDA formula (Attention - Interest - Desire - Action)
The primary marketing objective here is to let the person in control of the note
or security instrument know that you exist. Arrange an appointment to meet
the referee or receiver nose to nose, and toes to toes. This may take time
and be a tough one to cultivate, but it is worth it in the long run. There
are very few note buyers or brokers who will make the effort or have the
persistence to cultivate this source and establish a business relationship
with a referee as a “synergy
partner”.
In our case, it paid off handsomely. Since 1984, the Note Servicing Center has
been called upon by the court to collect and manage notes on a regular basis. We
have found that a receiver or referee has a great deal of latitude and
discretion on disposing of and liquidate the assets. Good Luck!
|
November 3-5, 2006 |
Private Cash Flow
Workshop - The Full Spectrum - How to Profit from Private Notes...
Up,
Down, or Sideways!
For additional
Information or to register for this workshop:
Lori at (810) 793-0261 (8am to 4pm EST) or visit Creative Real Estate Online's website at: |
| Monthly - All over the United States |
Bill Gatten Workshops on Land Trust Check out our Equity Holding Corporation web site at www.equityholding.org Go to the Upcoming Events Banner for dates, times and more information For additional Information or to register for this workshop: Please call Scott Whaley at 800-684-7788 or email Click here Price: FREE of Charge |
| Friday, November 3rd thru Sunday, November 5th | 2.5 Day Land Trust
Workshop Location: Marriott-West1750 West Loop South Houston, TX 77027 Hotel # 713-960-0111 Click here to RSVP Time: Fri: 6 PM - 9 PM, Sat: 9 AM - 9 PM, Sun: 9 AM - 6 PM Price: $99 (Refunded at Workshop) |
| Friday, November 10th thru Sunday, November 12th | 2.5 Day Land Trust
Workshop Location: The Westin Galleria, Dallas 13340 Dallas Parkway, Dallas, TX 75240 Hotel # 972-934-9494 Click here to RSVP Time: Fri: 6 PM - 9 PM, Sat: 9 AM - 9 PM, Sun: 9 AM - 6 PM Price: $99 (Refunded at Workshop) |
| Friday, November 17th thru Sunday, November 19th | 2.5 Day Land Trust
Workshop Location: Red Lion Hanalei Hotel 2270 Hotel Circle, South, San Diego, CA 92108 Hotel # 619-297-1101 Click here to RSVP Time: Fri: 6 PM - 9 PM, Sat: 9 AM - 9 PM, Sun: 9 AM - 6 PM Price: $99 (Refunded at Workshop) |
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| E-mail: | info@sellerloans.com | |
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