How to Find Notes: $2,000 for a $297 per month Cash Flow

On how to find Notes:

$2,000 for a $297 per month cash flow.

[Who said you can only buy POOLS of notes?
Who said you need a lot of m.oney to do this?]

Now that’s what I like to hear.

This is what Rick, a www.NoteBuyingProfits.com Student,
is receiving on the very first non performing
note he recently purchased.

Here are more of the details: Rick bought a 2nd
mortgage of $20,000 (so he paid 10 cents on the
dollar), behind a 1st worth $65,000, on a house that
he estimates is worth $130,000. So he’s at
approximately a 50% CLTV ($65,000 1st plus $2,000 he
paid for the 2nd, divided by the value of $130,000).

From Rick’s perspective, this is an amazing return on
his nonperforming note investment.

From the borrower’s perspective, Rick is a … well
actually Rick’s a saint from heaven.

Here’s the way Rick explains it: “The borrower was
actually getting foreclosed on [he had lost his job
and then found employment again, but fell behind]. So
he’s about $2,000 in arrears plus he was paying an
extra $50 a month due to a bankruptcy a couple of
years ago. ” Arrears mean how much he would owe to
bring the loan current.

So his borrower was behind on his mortgage, owing
over $2,000 on a $20,000 note. And he was also paying
$50 more than the original note payment due to a
bankruptcy filing that added an extra $50 each month.
So what did Rick do with this “deadbeat” of a borrower?

He cut him some slack.

” I said to the borrower, “Listen, I’m going to eat
the arrearage, I’m going to eat the extra $50 a month,
and you just pay me $297 a month and we’re going to go
back to the original note and I’m not going to
foreclose on you. “

The result?

The borrower made the first payment and Rick expects
to have little trouble with his remaining payments.

But how did Rick get there?

How did he get started in how to find notes?

Was it tough? Did it take a lot of time? Did he know
what he was doing? Are there more of these that Rick
can do?

===> Listen in this Wednesday, December 10, 2008 at
6pm PT/9pm ET.
Dial: 419-400-0202
Access Code: 468636#

I’ve invited Rick to share his experience
with you so that you can hear how a fellow student
went from the brink of bankruptcy (it’s true, Rick
almost filed bankruptcy himself), to receiving notes
unsolicited from 4 different people at a bank, and a
million dollar investment from a fellow investor. All
within a few short months.

And where does Rick go from here with his buying notes business?

“I’m really trying
to just get one or two a month now. My plan as I build
up is to just get one every other month and then build
up to one a month, one or two a month, like next year,
and start getting into larger pools.”

Step by step, Rick is building his note buying
business. And he’s starting with nothing.

Join us for this f.ree Teleconference this Wednesday.

We have room for 100
on the call, so be sure to be on it.

Again, it’s this Wednesday, 6pm PST/9pm EST.
Dial: 773-945-1010
Panelist Access Code: 260-435-355

You will learn about/from a Student who took * MASSIVE ACTION *
on the course materials of the A-Z Note Buying Course.

Plus you can ask ANY questions of yours.

Be your success.

Dean