Updated: Aug 26
Now Best Buy Financial Services Company (TM) will purchase two types of Notes, they are either Retail/Net or Wholesale, we understand that each NOTE has its own RISK Factor so associated with it, such as this type of example:
A NOTE on a single family residence is a much BETTER investment for us at Best Buy Financial Services Company (TM) compared to a NOTE on unimproved LAND, the reason is because if we had to foreclose on the home we could (on average) sell it much faster than the unimproved land.
Business NOTES are the Riskiest of all the NOTES that we PURCHASE and are therefore DISCOUNTED the heaviest. there are many Factors that contribute to this HIGH RISK but the two (2) most determining factors are:
High Failure rate of small Businesses
No collateral to Secure the Note
the first is the traditionally high failure rate of small businesses in the United States. We at Best Buy Financial Services Company (TM) are fully aware of the numbers of businesses that close their doors within the first year or two.
The second factor is that these NOTES usually have little, very little to "NO" collateral. When we at Best Buy Financial Services Company (TM) purchase a business note, most of the time we are purchasing a note that is collateralized by the income the business is generating and maybe a personal guarantee by the payer. If we at Best Buy Financial Services Company (TM) have to foreclose, the payer will likely file for bankruptcy (so we can't get anything from them). If we sell the business equipment we will only get pennies on the dollar.
Best Buy Financial Services Company (TM) - FACTS
When we at Best Buy Financial Services Company (TM) price a deal, we are trying to anticipate the likelihood that we will be PAID BACK and PAID ON TIME. We also factor in expenses that we might have to absorb if the NOTE in not paid. Many times we hear the following from our Cert. Financial Staff Members: "it would be a good deal for THIS COMPANY if we had to foreclose." this might be the case, but we at Best Buy Financial Services Company (TM) don't view our business as one that makes money from foreclosing on properties and businesses. We would much rather the NOTE PAYER PAY on schedule, per the written agreement (NOTE.)
Now at times we purchase a portion of the NOTE, that is called a PURCHASING PARTIAL NOTE(S)
On many occasions we at Best Buy Financial Services Company (TM) we receive quote requests for NU/NEW NOTES that have not been seasoned, having little or no down payment, and have a POOR OR BAD CREDIT by the Payer. In a case such as this we at Best Buy Financial Services Company (TM) will still purchase the note but would only purchase a portion (PARTIAL) of it. This is to REDUCE OUR RISK in the event that the payer DEFAULTS ON THE NOTE.
We at Best Buy Financial Services Company (TM) would quote the Payer of lets say $USD 35,000 for the next 250 payments. Purchasing a "Partial" lessens OUR RISK. This lessons our risk in the event we have to foreclose. If and when all the PAYMENTS are made as scheduled, the NOTE would then revert back to the seller following the 250th payment.
Often times, note sellers do not know that they can sell just a portion of their future payments.
Now we have also decided to include OUR fax number when directly concerning the Purchase of Note(s)...this number is Monitored 24/7/365 and is 100% Secured when YOU send us any information concerning the NOTE(S) and any dealings concerning the same...we at Best Buy Financial Services Company (TM) ask any and all NU/NEW Clients that they place in the Left Hand Corner that such fax is for a NOTE PURCHASING QUOTE at which this information will allow us to place this matter in the URGENT Pile and NOT disregard it as worthless and/or NON-URGENT MATTER.
The Best Buy Financial Services Company (TM) Fax Number is 719-362-4380...any and all Anonymous faxes are immediately DISREGARD AND TOSSED, YOUR Actual Name must be on the cover page of any and all faxes, as well as the name of YOUR business(es) and both a Land Line Phone Number (WE PERFER BOTH, BUT ONE (1) IS BETTER THAN NOTHING) and/or a Cell Phone Number, as well as a EMAIL ADDRESS so that we may contact YOU on the NEXT STEP also any Price(ing) Quote to YOU concerning what we will pay concerning the NOTE(S) at hand.