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Talking to Note Sellers Quiz

Flipping a Seller-Financed Note Talking to the Note Seller Talking to Note Sellers Quiz

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Question 1 of 7

1. Question
What’s the best approach when talking with a note seller?
- Automate the process so you don't have to talk with the note seller
- Have a personal conversation with the note seller and develop rapport
- Hire a virtual assistant to talk to note sellers for you
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Question 2 of 7

2. Question
What document will you use in your fact finding with the note seller?
- The Infallible 4 Steps Chart
- Note Submission Form
- Re-invent the wheel and make my own document
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Question 3 of 7

3. Question
It’s a good idea to give a note seller a “ballpark idea” of how much you’ll pay for the note.
- True
- False
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Question 4 of 7

4. Question
What are some common objections you might hear from a note seller?
- "Are you a broker?"
- "Just give me a ballpark idea."
- "I want full price."
- "I really don't want to give up the monthly income."
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Question 5 of 7

5. Question
Choose any answers to the objection, “Give me a ballpark idea.”
- "I really do look at each individual deal."
- "I consider the type and condition of the property, terms of the note, pay history, stability of the borrower, and a lot of other things. I can't give you a ballpark."
- "Okay, here's a ballpark idea… maybe $40,000 or so?"
- "If they've always paid on time, just send me a copy of the note and I'll get you a quote as quickly as possible."
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Question 6 of 7

6. Question
Choose any answers to the objection, “I want full price.”
- "Notes are always sold at a discount because higher rates are available in today's market."
- "I need to cover my time and expenses in putting this transaction together for you, and I need a return on my money."
- "You're getting cash now. I have to wait for mine!"
- "Okay, here's full price."
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Question 7 of 7

7. Question
Choose any answers to the objection, “Are you a broker?”
- "Yes."
- "It depends."
- "If I like the note and I have cash available, I buy it myself."
- "I have private investors across the country I can sell it to, but I'll buy it first."
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