All Forum Posts by: Cameron Ellis

yes Chris Clothier

 what you said to @Cameron Ellis here "act with honor and honesty and keep your word" is huge. It is something I have missed in many of my Memphis relationships. I have had some people say they are honest and team players and they will cheat at the drop of a hat! 

But this is a new year ahead of us and I am open to finding that more and more  ;-)

My systems include the step by step business plan with every detail for every part of the biz; legal docs necessary in jv deals and never doing a deal until that is in place;

and then of course a deal management system instead of bunch of notes laying on my desk lol. I started with mind maps and deal flow charts on the office wall so I could sharpen my business game. 

All this gives the gift of an uncluttered mind and more skillful business management.

Best of success in the New Year!!

@Cameron Ellis - If you are interested, I'd be happy to go to lunch or grab a coffee or something after the new year and answer any questions you have.  As you know, there are no secrets to success in this business.  You work your butt off, treat people the way you want to be treated, act with honor and honesty and keep your word.  If you can do those things, then the systems become easy to put in place and I will share anything with you that you want to know.  

You are correct too in something I read between the lines of your post.  We use "systems" for organization and communication.  But there is also a system to everything else.  A system that says you take certain actions, perform them in a particular way and always in a certain order and you always inspect what you expect!  Because over time, every system has to be tweaked and changed in order to keep growing and getting better.

Hope to hear from you if you want to take me up on my offer.  All you have to do is bring a pad, pen and your questions.

Certainly. I buy frequently. Some factors I consider.

Are payments collected by an independent third party? Is there title insurance on the note? How is the note secured? Is the note seasoned? Are the note documents properly prepared? And of course, how much do I have to pay for the note?

Hope this helps. There is more, but this is a start.

Cameron,

Are you creating the notes yourself or do you broker notes created by other sellers?

Every investor has their own guidelines based on what they feel is important. There really is not any standard.

I think Memphis would work every bit as well as Houston. If you are brokering, you probably need to expand your market since Houston is a much larger area and produces many more notes then Memphis. You would have much less competition in Memphis then Houston.

Good luck