No business can operate alone; we all need a large group of other individuals and businesses to help us succeed.  At Garan Commercial Properties, when one of our client’s needs someone to help their business grow, we look into our list of contacts to see if we can find someone with the requisite skills to further aid our client or their business.

Let’s meet Robert E Young, one of the people we know

1. Tell us about The Texas Note Company and your area of expertise.

The Texas Note Company, a Texas owned and operated business based in Austin, is a group of real estate professional that specializes in owner financing strategies and techniques.

Our core business model is to buy and sell owner financed notes on a daily basis; our greatest strength in this endeavor is that a majority of our investors are local to the Texas market.  We provide our customers top dollar for their notes because all parties are local; Texas money helping Texas businesses.  In 2010 we have added loan servicing as a service we offer to our investors and clients.

2. What is The Texas Note Company’s specialty or target market?

Our target market are those businesses and individuals who have sold real estate using owner financing and are now receiving monthly payments.We seek out those who are receiving monthly payments from sold real estate and who are interested in determining the value of their note in the secondary market and possibly cashing out.

3. What are the greatest challenges facing your clients presently?

I see several issues on several different fronts:

a) In the current economic climate where credit is tight and lenders are particular about who gets approved for a loan, our clients are looking for alternative solutions after having gone through      traditional methods with less than favorable outcomes.

b) Many clients who have created a real estate note by implementing owner financing without professional guidance, often struggle with the how the note was created later on when they try to sell their note or have challenges with the payor.

c) Record keeping tends to be another area that client struggle with.

4.  What advise do you offer to overcome these challenges?

We try to educate every person that contacts us about the benefits of owner financing by explaining:

a) Owner Financing – Seek a specialist like The Texas Note Company to become familiar with and understand the benefits and strategies of owner financing.  Owner financing is not just for individuals who are challenged by negative credit scores and can be greatly beneficial to those with easy access to various forms of traditional funding.

b) Always, seek the advice of a Note Professional to assist you in creating an owner financed note.  In theory the process is the same as with traditional lenders.  A note professional can assist you bypass the pitfalls of owner financing.  Often we will come across a note holder who created a note with the home buyer in mind, not himself or a potential investor that may purchase the note 6, 12, 24 months later.

c) The Promissory Note is the most important document.  Keep it in a safe place where you can find it!

5.  What, if any, positive aspects do you see in the current market?

As traditional lenders continue to make it difficult for many to get approved for loans you will see owner financing become more popular as a solution that will fit their needs to buy and sell real estate. I believe this is indicative of the American “can do” attitude as businesses and individuals seek out the best financial solutions themselves without bowing to the whims of mega banks and financial institutions.

It is comforting to see Texans reverting back to our roots and finding a way to make ideas and business happen.

6. What is your outlook for the remainder of this year? next year?

The continuing credit crunch bodes well for The Texas Note Company.  We remain very confident looking forward for 2010 and believe it has the opportunity to be our best year to date.  As the necessity and benefits of owner financing continue to increase our business will continue to grow and prosper.  Additionally, as our new loan serving products develop our business will continue to grow.

7. What separates you from your competition?

Our experience is what I believe sets us apart; also, we stand by our word and work with our clients to really get what they want and need from a funding provider.  The strong relationships we have with local investors allows us to stand ahead of our competitors and offer top dollar top our clients as well as protect the interest of our investors.  When you work with The Texas Note Company you know that the due diligence has been done and the goals of our clients and investors are front and center.

8. What is the greatest satisfaction that you get from operating your business?

Being a business owner is great and challenging; at the end of the day your effort is judged only by the guy looking at you in the mirror.  I love the various interactions with people from all walks of life, their stories, and the people themselves.   Mortgage Finance is often a subject that many don’t truly understand; my career has been Data Analytics and Finance so it comes natural to me.  What I truly enjoy the opportunity to use that ability and bring a deal together for all involved parties.

9. What are some points you hope clients take away from their initial meeting with you? After conducting and completing business with you?

I hope that clients and prospective clients walk away thinking, “This Texas Note guy has some good ideas that we should consider.  He is someone that I can talk to, someone who will sincerely listen, and gives an honest opinion.”  As often is the case when a client contacts the Texas Note Company to sell his or her note or determine its value we will go through process of putting the transaction together.  When we are done, whether the sale was done or not, the client will tells us that he/she has three or four or 10 other notes that they want us to look at and sell for them.   90% of the transaction is document chasing and if we have all the documents at hand we can get the deal done in as little as 5 days.  When that happens we truly look like heroes because our processes are smooth and flexible.

After the transaction our customers tend to keep in touch with us, via Facebook or email because they like the straight forwardness of The Texas Note Company and how we treat our clients.  The best compliment that we can get is when a customer refers us to friends and business associates.  The other compliment we get is “Ya’ll” have so much fun can I come work for The Texas Note Company?”  We often get referrals which is awesome when a satisfied customer refers a friend or business associate.

10.  How may people contact you?

Robert E Young can be reached at The Texas Note Company at 3571 Far West Blvd. #213, Austin, 78731, or by phone at PH 512.464.1214, Toll Free 888.304.7779, or fax  512.464.1214.  Further you can find The Texas Note Company on the web at, http://TexasNoteCo.com, on Twitter, andFacebook.

Robert may also be reached by email at robert@TexasNoteCo.com, or on LinkedIn with any questions you may have about owner financing or the Texas Note Company

If not at the office of The Texas Note Company, Robert is most likely with his family.  He has two daughters who are the stars of his life.  Both of them play kickball in the Northwest Austin Little Miss Kickball League and Robert coaches his oldest daughter’s team, The Porcupines.  It is a lot of fun and FUN is the name of the game.  GO PORCUPINES!

Check back often with Garan Commercial Properties to meet more of the people we know who can assist you and your business.