Lottery Quote
Forms
For your convenience we have provided our forms page. All forms should be printed out and can be faxed to (866)364-1457. Please feel free to call with any questions.
Dealer Application for Bulk Purchase
Investors
Frequently asked questions about investment in discounted mortgages.
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Get a Quote!
HOW TO GET STARTED:
SELLERS
1. Fill out and submit appropriate form:
Real Estate Note Quote
Business Note Quote
Mobile Home Note Quote
Auto_Spreadsheet
Structured Settlement
Lottery Winnings
2. Fax or e-mail a copy of the actual note.
3. We will contact you shortly.
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PORTFOLIO SELLERS
1. Print out/down load the “Dealer Application for Bulk Purchase”
2. Print out/download the “Business Agreement“
3. Fill out the appropriate form(s) below and submit electronically via email (marc at creativefundingservice.com). No fax copies.
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BROKERS - Single Quote
1. Locate a seller and fill out and submit appropriate form:
Real Estate Note Quote
Business Note Quote
Mobile Home Note Quote
Auto_Spreadsheet
Structured Settlement
Lottery Winnings
2. Fax or e-mail a copy of the actual note.
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BROKERS - Portfolios
1. Locate a potential client.
2. Print out/down load the “Dealer Application for Bulk Purchase”
3. Print out/download the “Business Agreement“
4. Assist seller with Sample Spreadsheet.
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Agreements can be faxed, speadsheets must be sent electronically, no faxes! Brokers can customize this form to suit their own needs!
It is important to get a copy of the note so we know what we are actually buying.
No note/no quote.
Brokers
Thank you for inquiring about our program to pay you generous referral fees for finding private Owner Financed Notes..
Don’t pay Big Bucks for training, we will help you for free.
We give you a quote-you discount our offer by whatever you would like to make! We make it easy……
Below you will information on marketing for owner financed Notes and what we will buy. If you have a source or are already “plugged” in, please skip this section and print our co-broker agreement and .Get A Quote
Here are some techniques that will get you started finding notes. Once you start using them, people will call you with notes. Just fill out a Quote Form. We’ll take it from there, calling you to let you know if we’ll buy the note and how much we’ll be paying you if we do. YOU subtract what you wish to make, give the quote to the seller and call us with the terms agreed to and we will issue a Letter of Intent and a Pay Out Agreement!
Often you will get a lot of calls because of the niche segment of this market. Most note owners are unaware that they can sell their Note. What you need to ask them is on the top of the Note Information Form.
Download our co-broker agreement It simply says we’ll pay you for every note you find that we buy. In return, all we ask is that when you call us about a note you don’t call any other buyers about that note. THERE IS ABSOULUTELY NO COST OR OBLIGATION, AND YOU CAN CHANGE YOUR MIND ANYTIME. YOU ARE IN TOTAL CONTROL OF WHETHER OR NOT YOU PARTICIPATE.
How much is a seller financed mortgage worth?
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How To Find Notes
Finding notes takes an investment of your time and/or your money. If you have money but don’t have a lot of time, you can simply place advertisements in lots of newspapers and do quite well over the long term. If you have more time than money and are willing to work hard, you can still be successful. Remember to have business cards made up. This is VERY important. There are over 100 ways to find notes. Here are some of the better methods:
Newspapers: An easy way to find notes is to place your own ads in the classified section of as many newspapers as you can. Here’s one that works well:
*** CASH *** QUICK ***
For your owner financed note. Most any structured cash flow purchased. No fees. Call (your phone number)
It’s inexpensive and it makes the phone ring. The drawback is that you’ll have to explain to many callers that they can’t sell the mortgage they’re PAYING on, but that might be preferable to spending the extra money on a larger ad to explain it (a lot of them would call anyway). Or, you might try an ad such as:
If you sold your property and are RECEIVING payments on a note, I will buy that note for CASH! Call –
Put your ads where people will see them. If you have the funds, try display ads in the sports or comics section. If you can’t afford that, use the big papers sparingly (Sundays only) and concentrate on the small-to-medium sized newspapers. Try out-of-town papers, too, especially if you live in a place where you see lots of competition from other note buyers.
Don’t forget the “shoppers,” those free all-classified ad papers (the Thrifty Nickel, Penny Saver, etc.). Ads in shoppers are cheap and can be effective, but you have to run them for months to get results.
The secret to finding notes is PATIENCE. Frankly, you won’t get many calls, just because the percentage of people who own notes isn’t very high. The more papers you advertise in day after day, the more calls you’ll get. Keep running your ads, week after week. Rural, small and medium-sized papers can be ideal - they’re cheap and you have no competition. A good criteria is this: If you’ve located no notes after two months in a larger daily paper, 6 months in a small town daily or 1 year in a weekly, drop the ad for 6 months and then try again. If you just hit those averages, you are doing just fine.
What will you say when people call? Just use the enclosed Note Information Form. Ask the questions on it, copy down the information and fax or mail it in to us. Tell them someone will get back to them if they ask questions you can’t answer.
Networking: If you’re going to be an active note broker you have to let people know about you. It’s a long process before you get results, and the principle of “out of sight, out of mind” applies. You have to keep reminding people that you’re out there waiting for notes. Obviously, you should concentrate your efforts on people who are in a position to bring notes your way, primarily real estate agents and brokers, title company employees, bank trust officers and bank loan officers, and attorneys with a real estate practice. Other good sources are home dealers, investors, rehabbers, developers, mortgage professionals, estate planners and CPA’s.
Look for advertisements placed by real estate agencies promoting their top producers. These are the leaders in the local real estate community. Also look for real estate advertisements offering easy or owner financing. Call them and tell them you’re looking for “owner financed” notes and ask them to call you with any they know about, either now or in the future. You can even offer them a modest referral commission, say $100 for every note they bring you that is purchased (when you’re making $500 or more for one phone call to the note owner and a fax to us, paying the agent $100 is smart!). Note that in some cases real estate agents are prohibited from receiving such commissions, but that is their decision, not yours. Also note that in today’s market “Seller Financing” can make the difference in making a sale or not making a sale.
Follow-up with a brief letter and enclose your card - or, better yet, your own rolodex card! You could have some color rolodex cards printed with “CASH FOR NOTES” on the tab, and your name, phone number and other information on the card, and hand them out to real estate agents and others. Keep in touch with these folks with a letter every couple of months and it will begin to pay off.
Make a habit of dropping in on every open house you see, look around a little bit, and then get the conversation with the agent around to your real purpose: let him or her know you buy notes. Be sure to leave them with your card (or rolodex card) that indicates you buy notes — in fact, give them several to pass around their office. Follow up your open house visits with a phone call or personal letter to the agents, thanking them for their time and reminding them you buy notes. Ask them to tell other agents about you, and send more cards they can pass around the office and post on the bulletin board.
Networking shouldn’t be restricted to real estate agents. Attorneys, accountants, title company officials and bankers often have notes crossing their desk. Use the personal contacts you already have with these people to let them know you are interested in notes. A tasteful letter indicating the same, mailed to names you find in legal directories at the library or simply culled from the phone book, may produce results. Your letter must be low-key and professional if you expect results.
The Bulletin Board Method: You can always put up little signs on community bulletin boards advertising that you buy notes. Remember that the stores, community centers and other establishments that permit notices remove them on a regular basis (such as every two weeks). It becomes almost a full-time job just to keep your notices up. If you’re going to do this, you’re eventually going to have to hire someone like a high school student to do the legwork.
This technique has one great advantage: you can do it yourself for free. Therefore, it’s a way you can get started this afternoon with no up-front investment. Be sure you handwrite your ad, and use the same wording advised for your newspaper ads. Handwritten ads are much less threatening than printed ones; simply write it out with a black felt-tip pen and have it reproduced on index cards at a quick print shop. Put up your cards with a stapler, which is much faster and less expensive than thumbtacks. Print “cash for mortgages” and your phone number on tabs they can tear off.
Again, this is a method that requires patience. You have to keep putting your notices back up and keep working at the program. This is really a supplement to your other efforts and should not be your only method. The downside to the bulletin board method is that the response will be so poor that you could be discouraged from notes altogether, which would be a disaster. If you try this, convince yourself not to expect any response at all. Then you might be pleasantly surprised.
MOBILE HOME NOTES: Contacting Manufactured Home Dealers: Often dealers will be sitting on Mobile Homes they have sold and held back the paper on. Some dealers may have several notes and could just be looking for YOU. Many times these dealers will want to cash out on notes for quick cash or other motivations. Call them and ask. You may be surprised. Remember CASH NOW has value and money in their pocket NOW is worth more than money over time.
Drive Through Mobile Home Parks: Driving through a Mobile Home park allows you to access the type of home notes we would be interested in purchasing. If you talk to neighbors, even those selling their home, you may find an owner who is desperate to sell and needs money now. Mobile Home communities are small and active. They are breeding ground for leads since many neighbors communicate with each other on a regular basis. Also look at the professional for sale signs and call and speak with the owner and ask if they are holding any paper they would like to sell.
For more assistance, please contact us. We are here to help you.
To get started now, Get the co-broker agreement and complete Get A Quote. Complete the Co-Broker Agreement, fax it in and you are in business. Of course we are here to answer any questions.
To Your Success!
Creative Financial Solutions
(866)364-1457 - Fax
(269)353-9238
About
If someone owes you money and is making regular payments to you, you are the holder of a note, mortgage or an IOU. If that note is secured by property, real estate or business you have an asset that can be sold for immediate cash. Creative Financial Solutions will buy that note from you for the highest possible cash price today.
Why should I sell it?
There are many reasons you would want to sell your note for cash today.
- To pay off debts where you pay a higher interest rate than you are receiving on the note.
- To make another investment that will provide a greater return.
- To invest in a more diversified portfolio that provides greater security than a note, or mortgage.
- To relieve the burdens of bookkeeping and payment collections.
- Economically it can make sense to sell your note (Here is an example of why that is so):
If you have a $50,000 mortgage at 10% for 20 years and you are receiving payments of $482.51 per month you have two options:
1. you can hold and receive the payments
2. or you can be a creative seller of your mortgage, for example:
You could sell 84 payments to Creative Financial Solutions for $22,957 cash today, then receive the mortgage and the payments back after 84 payments. It would still have a balance of $42,036. You would not lose any of your principal, and would have had the immediate use of the $22,957.
More reasons to sell your note to Creative Financial Solutions:
- You won’t have to worry about default.
- You won’t have to worry about IRS income tax reporting requirements.
- You won’t have to worry about destruction of the property.
- You won’t have to worry about bankruptcy of the payor.
- You won’t have to worry about divorce or death of the payor.
- You won’t have to worry about IRS tax liens against the payor.
- You won’t have to worry about your note being assumed by a dead beat payor.
How Much CASH will you Give Me for My Note Today?
We will usually be able to give you the cash you need. All notes are purchased at a discount over the balance remaining due. By paying you with cash now and with cash at a later date we can give you the maximum amount. Often it is even possible to receive the full face value of your note. (see the example above)
The value of a note is determined by many factors, such as: type and location of property, equity, type of note, market interest rates, and credit of the payor. Clearly, a note secured by raw desert property will be worth less than a note secured by a single family home.
If you call us with a note to sell, we will examine and research it and then offer you the highest possible price, usually with a variety of options for you to consider.
How do I Sell it? Just click on the “Get a Quote” Link or Button!
You can also call us with the following:
Information on the Note: (remaining balance & monthly payments
Information on other Notes on Property: (first mortgages, etc.)
Information on the Property securing the note: ( single family home, unimproved land, equipment, etc.)
Information on the Payor on the note: (payment history, credit)
Who is Creative Financial Solutions?
Our investment service has been in business since 1999. The principal, Marc Faulkner is a long time real estate investor, note buyer and broker. Prior to CFS, Marc created and sold thousands of notes for other companies. Marc also specializes in structuring “seller financed” real estate transactions. He buys notes locally and nationwide. Creative Financial Solutions has access to an unlimited amount of cash. We prefer to invest in notes up to $500,000 and portfolios to No Max!
Frequently Asked Questions:
What kind of notes will you buy?
We will buy:
* 1st mortgages, land contracts, trust deeds, SFR, Commercial
* Interest only Mortgages, Portfolios, Mobile Home Notes
* Balloon Mortgages, Scratch and Dent, Auto Pools
* Old Mortgages, Investor Fallout
* Mortgages from Estates
* New Mortgages (Min. 5% Down)
* Partial Purchases: We can buy some of your payments - for example 24 or 36 payments, and give you cash now. After we collect the payments you sold us, you will collect the remaining payments. This is an excellent way to get cash now, and still receive income later. Or we can buy just the balloon part of your mortgage, and you can continue to receive payments now.
We are very flexible in the ways and kinds of mortgages and notes we can buy.