Buying Defaulted Loans: Banker needs some handholding…

On buying Defaulted Loans:

“I need some handholding …”

Those are the words that someone just shared with
Will S. this week.

Who’s Will S?

He’s an investor learning how to buy notes – who just
completed my Buying Defaulted Loans Course and has been
hitting the phones like a wild man.

He started two weeks ago, and has made 110 contacts.

How’s he doing in his endeavor to buy defaulted loans?

He just got 15 requests from banks for his company
information and they’ve asked him what his buying
criteria are.

(Ohhh, you mean this stuff really works?)

AND NOW GET THIS:

And then there’s that one special banker he just
talked to yesterday. That’s the someone that just
shared the words in the subject header of this email
with Will.

* * * Pause * * *

Are you getting this?

A banker … told Will S … on the phone yesterday
… “I need some handholding.”

….

No way!
…

Yes.

A banker.

A banker – a real employee at a small regional bank
that Will called as part of his calling campaign to
find banks that sell defaulted loans.

====> The conversation went something like this:

Will: “Could you pass this along to the right person
for me? I am interested in buying defaulted loans.”

Banker: “I’ve never done this. My bank’s been looking
into doing this, and I think we have to have some kind
of confidentiality agreement. Is that right?”

Will: “Yes, that’s right. I can cross out all the
pertinent information on a confidentiality agreement
we could use, and I can walk you through the process
of how your bank could sell its defaulted loans and
walk you through if I need to.”

Banker: “That would be great because I have a few
loans that I would definitely want you to look at …
I just need a little handholding.”

I’m not making this up!

Will S. – who bought the A-Z How-to-Buy-Defaulted-Loans Course on
October 20, 2008, is “handholding” a banker through
the process of selling his defaulted loans.

If Will pulls this off properly, he could be the 1st
(and only) investor the bank turns to in order to sell
its portfolio of non-performing notes aka defaulted loans.

Do you see how upside down this picture is?

* Do you see how unsophisticated BANKS can be
in selling their defaulted loans? *

Do you realize the enormity of the opportunity?

Will could be the only investor the bank turns to in
order to sell its defaulted loans.

That person could be YOU.

Will REALLY took all the golden nuggets I put
into the A-Z Buying Defaulted Loans Course, and then ‘went to town
with it…’

That’s all it took.

We’ll be following Will’s (and a lot of other
students’) progress in 2009 – it’s going to be
impressive.

So get out there and DO some handholding, and stop
feeling like you need YOUR hand held.

YOU can be Will.

You can be teaching a bank how to sell its
defaulted loans.