Fuquan Bilal's Blog (116)

Meeting Qualifications and Knowing the Fundamentals.  

Like most processes in life there are obstacles and requirements to qualifying as a “bidder;” however, nothing impossible or too difficult. This business isn’t meant to be hard it really just takes proper preparation and practice. Many times NNG and other note buyers have said that this industry is a “learn by doing” kind of industry. The only way to really get better with the bidding process is to get in there but only…

Verifying Homeowner Financials and other Essential Information

Being a note buyer means more than notes and cash flow; it also means knowing your homeowner. At any point a homeowner can deny having the money to meet pending payments. Don’t be too quick to take their word or the payment amount they offer. Preparation is everything and checking resources is essential. Request financial information and supporting documentation from every homeowner; this information serves as a reminder…

Who is Required to be Licensed and Where.

Documentation and regulations are the new norm and an important part of note buying and the mortgage business on the whole. Nowadays, certain things can’t be done without the proper licensing, which came about as a result of the economic climate, foreclosures, and other elements. The new licensing requirements are stricter as the government is currently making it their focus and goal to scrutinize and regulate more things. The questions to ask…

NNG Explains Different Agreements

When it comes to the note buyer and the homeowner, the goal is to reach some sort of agreement. As the note holder, you want to get the homeowner to come to a decision and optimally one that signifies cash flow. However, sometimes it isn’t as easy as one, two, three. Every note buyer has encountered at least one homeowner who is struggling with payments either because they just don’t have the money or claim not to have it. Nonetheless, that shouldn’t…

Different Ways to Raise Capital and Buy Notes

People often think that raising money is the most challenging aspect of the note business when in actuality, once the fundamentals are established, finding money is the easiest part. Raising capital whether you know or not is heavily influenced by credibility, reputation, and strong marketing. If you want to keep generating cash flow, never stop raising money and never stop marketing. Getting involved and networking are little things that…

NNG gives a bird’s eye view of mortgage assignments and MERS

There are many nuances to note buying and handling mortgages in this emerging industry.  In addition to buying the actual notes, other steps are involved such as short sales, foreclosure, collateral, reform laws, analyzing notes, equity, fundraising, workouts, etc. Therefore as a note buyer, become knowledgeable and skillful at these elements and practices. One of the very basics you will have to familiarize yourself with as…

Goals as One of the Secrets to Achieving Success.

By: National Note Group

Let’s be honest, we all want to know the secret to success! Some people spend their time asking others “what’s the secret” searching for the easy way out instead of going through the process and finding out on their own. Others genuinely ask because they have no clue. The problem is everyone is scrutinizing to closely instead of looking at the bigger picture. Being successful comes differently to each of…

Unlike first lien notes, servicing second lien notes requires less care as there is no requirement to maintain tax and insurance escrow accounts. Regardless of economic conditions, there were, are, and always will be residential mortgages in default. While pricing is low today, so are Horne values. As the supply of defaulted mortgages decreases, pricing will rise and come into balance with rising Horne values. Finally, there is a vacuum in private mortgage investment companies that…

“OUCH! Honey, I got another paper cut. Can we buy an electric envelope opener? Also, please pick up some more deposit slips when you are out and some Grey Poupon.”

Sure Beats Landlording!

Remember the days of being a landlord (though a therapist would probably tell you to try to forget). Plunging toilets and chasing tenants around trying to get rent . Calls at Three in the morning over leaky taps may be an exciting challenge for some people.…

Learning How to Speak to Homeowners

This idea of building rapport should be a top priority for any person in the note business. Note buyers are always on the phone with homeowners and interacting with lenders and brokers, etc. People who don’t really know how to be social in today’s world are very limited to opportunities and possibilities. This business is all about networking and socializing. However, one should not only seek to be social but rather…

Oftentimes, life won’t give you a blueprint and the learning process will be through trial and error. However, one can learn through the mentoring and help of others. As a note buyer, wouldn’t you like to know how to overcome certain…

Working in the note business, one may face a number of challenges. When buying a note one should always take the time to revise important documents, ask for certain documentation, and really decide what needs to be done to move forward with the file. A good example of a possible complication could be trying to sell a note that was just…

    When in the note business, understanding how bankruptcy works is a must. Bankruptcy usually lasts about five years, sometimes three years. Once the homeowners are in bankruptcy, they will be making regular payments. The moment the homeowners file for bankruptcy the court will see how far…

        This is a business! Once you have acknowledged that note buying is indeed a business you can then proceed to a well written plan of action and then successfully cash flowing. If you cannot grasp that concept, your cash flow will suffer, to say the least. “Admiring the shiny objects is…

        It is said and believed that rules are essential to keep organization and enhance clarity in communication throughout society. Some people need guidelines to better comprehend things or maybe simply for protection. Who helps with protection? For one, the CFPB, who was sought and…

       As most of us know, growth comes with responsibility. Unlike Barbie and Ken, dolls

most children used to play with in their younger years, our dream houses come with a cost

and…