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Are You Doing Any Deals?

I received a call from a fellow broker the other day. He called to see how business was and asked, “are you doing any deals”? I said that my business was fine and that in the last few months business has actually picked up for me. He proceeded to tell me that his business has slowed way down and that he didn’t know what happened. He said that he had been running his business exactly like he was when he was getting business 6 to 8 months ago and couldn’t figure out why it is not still working. (Do you see where this is going?)

I have been hearing a lot of talk lately on the news, in the papers, and on the street that our nations economy is sluggish and I have even heard the word “recession” come out. Even if what they are saying is true, what do people need or want more of in a “sluggish” economy? CASH, of course. Since the middle of last year or so I have been getting calls from people holding notes who have a need for some money. The response rate to my marketing efforts has risen and my acceptance rate has also risen. When note holders are in need of cash I am here to help, that is what I do. I help people get the cash they need when they need it. That is the service that I provide and the business that I am in.

There has been a definite change in our industry over the last year. We have seen major funding sources close their doors and many brokers close up shop. The remaining ones have downsized, shifted their focus, added additional services or renovated their operations to go with the changes in the industry. As a one-man operation I have faced many obstacles over the last eleven years and have always been able to rise to the challenge and do what I had to do to keep my business going. I don’t think that there is any one thing that has separated me from other brokers. I work hard, I am persistent, I listen, and I always try to get to the underlying need or want before I give a price on a note. I have even been known to talk to a note holder for 20 or 30 minutes before even talking about their note. I try to take the time to listen to the note holders that call me and learn about their situation and what they really need or want. I try to build rapport and trust with that note holder on that initial call. One of the best one-liners that I often use to find out their need is “Gee that’s a great note, why would you want to sell that”? Try it and you might be surprised.

Sometimes they don’t need any money right now and that is fine. I hope that because I took the time to talk and listen to them that they will remember me and call me when they do need some cash. When they do need cash I try to pinpoint exactly how much they need. If they don’t need to sell the entire note I give them some partial options. It makes sense for two reasons. For one, after the term of the partial goes by the seller gets the note back and is still owed a substantial amount of money (it is a great selling point). And two, if they need more cash in the future I have virtually locked in repeat business for myself. If they need more money at anytime they will call me to sell some more payments or the rest of the note. When times are slow for me I get out my list of sellers who sold partials and call them up to see if they need any cash now.

As for the experienced brokers and for brokers just getting started in this business, this is a great time to be in the cash flow industry. There are people out there that are receiving payments on notes that need money right now AND you have many more advantages available to you today that I never had when I started in this business. When I first started my business in 1991 there were no funding source directories, no direct connect software, few if any master brokers, the internet was just starting to come alive, and there were very few resources (in terms of books and information) that were available to help me get started and stay in business.

Today, I am amazed at the growth this business and this industry have achieved. With so many opportunities in the cash flow industry and with the multitude of information and products available to help you keep your business focused, timely and thriving you must take advantage of them. It is the expressed opinion of this Master Broker that the cash flow industry is not only alive and well but the future looks very promising. Are you doing any deals?

Your favorite Master Buyer, Jeff Armstrong, has been in the cash flow industry since 1991.  Specializing in the private mortgage note niche and seller financed notes he can be reached at 818-865-2322 or by email at For education, training opportunities, to learn more about the note business or to obtain a quote for a note visit and