Friday, July 20, 2012

Franchise My Business?

The other day I sent out a blast e-mail solicitation piece to just over 10,000 Foreclosure & Bankruptcy Attorneys across the Nation; the response has been strong.

I was telling an old friend of mine who lives in Florida now (he has been a Business Opportunity & Franchise Promoter for most of his career) about what I'm up to these days and the results of my mailing. For about 10 years he was also a Hard Money private investor, then he evolved into being a small private mortgage lender (that's when we met). So, my friend John  says to me, "Peter I think we can Franchise your business, all you would need is about 20 outlets in the Nation ... so let me ask you some questions ..." (I mentioned to him that I can bring two senior-type business associates and some support staff in, if the business volume increase overwhelms me.) Here's what he asked and what I said:

Q: How many Securitization Forensic Mortgage audits have you personally done this past year?
A: I told him, John I think somewhere around 100.
Q: How many of them do you think resulted in you uncovering significant defects?
A: I said, probably 95%.
Q: He next asked me, what % of those do you believe your report assisted in either (1) further delay and/or (2) prevent outright the foreclosure of the property ?
A:  I explained that's something I haven't kept track of, I know I can find out (since I have copies of all my work) and whether or not a Foreclosure was effected would be public record, so I'm sure I can find out the actual statistics ... my guess is likely all of them.

John asked me to find out that percentage and told me once I know the number, he feels like he can expand my operation into having multiple distributorships. I've made an inquiry to the title company people I work with, and they're going to figure out an easy way (I already know a hard-way to get the data) to pull that info from their computers (since they know which borrowers I have gotten Property Reports on from them) to date.

Whether or not this notion comes to pass, a success percentage posted on my website http://www.cugno.net/ is going to be a good idea, probably take me about a week or so to do it :-) You have any thoughts?

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