How to buy Defaulted Mortgages: (Don’t cut Corners when Buying Notes)

How to buy Defaulted Mortgages: Here’s a little how-to-buy-defaulted-mortgages story for you:

There’s an old Romanian saying: “Only the foolish learn from experience – the wise learn from the experience of others.” 

It’s appropriate because it shows how one of my brightest aspiring note buying investors in our Private Access Club right now, let’s call him “John”, could use a little of that Romanian wisdom.

The reason I’m sharing this with you is so that you don’t make the same mistakes when learning to buy defaulted mortgages that he’s making.

[Note to "John" - this is not meant to humiliate you, consider yourself an example of what most of us do or try to do in real life - cut corners. We all do it, I'm just using you as an example to make a point.]

John (not his real name) is one of the most dedicated to all of our content – he’s in the Private Access Club every week, he asks questions, and he’s just received his first data tape, and he’ll probably be buying his first note soon.

But he’s completely missing the point that the old Romanians would chide him for: he’s not using “the experience of others.”

What do I mean?

Yesterday, John sent me a pool of defaulted mortgages that he’s brokering to me (you always have that option, by the way – the agreement that we’ll sign between us and that will protect your relationships that you bring me, is right HERE – beware of other note buyers out there promising you commissions and essentially wanting to “steal” your bank relationships).

And he writes to me: “Also, feel free to use my labor at no charge to assist you in whatever way needed to progress the deal.   Ideally, I would like to learn from the experience as much as possible.  However, I will defer this decision to you.”

Here’s what I wrote back to him:
___________________________

John,

We’ll move forward with this pool – but here’s something I want you to think about.

I’ve taken the time to lay out everything that I do in minute detail, for guys like you who are hungry to learn. You heard Vic on our Private Access Club call the other day – he said he’s gone through Steps 2-4 of the A-Z Profiting from Defaulted Mortgages Business-in-a-Box Note Buying Course exactly THREE TIMES now in order to prep himself to talk to banks, and to demonstrate that he knows what he’s talking about so that he can talk about the exit strategies, negotiate a close with the bank, and price his nonperforming notes right.

He is WAY beyond you right now, just from having been exposed to what the banks are looking for, what the documents are that they’ll be sharing with him, and what some of the basics of a bid are.

You will get much much more from what you and I are able to go through together on this bid, for example, if you get and study the A-Z course. I promise you.

This isn’t a sales pitch – it’s an invitation to learn everything that goes BEHIND the bid to the bank, and the detail of what happens IN the bid to the bank and IN the negotiations with the bank, but BEFORE it happens.

And, here’s the most important part – to make the best use of the time that you and I have together on this bid (and others).

What do I mean?

If you get the basics out of the way and study the A-Z 16-hour How-to-Buy-Defaulted Mortgages Course, you’ll have a ton of more educated and informed questions to ask me and to review, rather than some of the basic questions that you probably have now because you haven’t seen the entire note buying process in action.

Vic’s no dummy – there’s no way that he would spend that much time (36 hours!) reviewing and reviewing content that I’ve created if he didn’t think that it could help him. And look where he is – on his own, negotiating with banks directly and getting defaulted mortgages pools.

I would never, ever, in a million years, have spent sooooo much time putting this 16-hour Note Buying course together if I didn’t believe 200% that it would really inform and help the people who took it, to launch their business, like Vic’s doing. 

So now, when you come to me with a note pool that you’ve worked I’m sure very hard to be able to receive, I’m more than willing to spend some time going through this to bid on it ourselves.

But here you are asking me how you can learn from me and you haven’t even taken the step that I spent hours and hours and hours of my time (I spent about 3 hours prep for each hour of content that I’ve created) putting together something that is EXACTLY intended to be able to teach someone like you what this defaulted mortgages business is like!

And you don’t even do me the courtesy of accepting that I’ve created this specifically for what you’re asking me.

It’s as if you’re coming to me to ask me what the best way to learn the how-to-buy-defaulted-mortgages fundamentals so that you can launch yourself to find and buy notes as fast as you can, and when I put something in front of you and tell you – “well, this is what I’ve put together using my own note buying case studies and experience specifically to help you launch yourself to buy defaulted mortgages, you should study it” – you say “yeah, yeah, what else?”

Don’t shortcut your own launch speed to arrive at buying defaulted mortgages.

You’ll end up firing on 2 cylinders instead of 4.

I can tell you’re hungry and want to learn, but I’m totally lost as to why the A-Z How-to-Buy-Defaulted Mortgages Course doesn’t make any sense for you. It’s the most systematic, content-rich, case-study loaded defaulted mortgages and note buying training that anyone will ever give you in this field.

Do yourself, and me, a favor, and get yourself up to speed on the note buying basics so that when you and I do interact, I don’t have to take the time to explain any of that, and you can really jump start your new note buying/brokering business.

Dean
__________________

Back to my post to you here:

Here’s my point: if you can learn from someone else’s experience, DO IT.

It’ll save you time, money, and energy.

In this case, I’m inviting you to learn from my own experience in order to launch your how-to-buy-defaulted mortgages business. That’s what the 16 hour+ Note Buying course is, really, it’s an opportunity to leapfrog a number of tedious steps as you get started.

You’ll shave months off the time it takes for you to: raise m.oney, find nonperforming notes, buy your first defaulted mortgage, and grow your replacement JOB.

Be your success.

Dean

=================================

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