1. On my Maria loan, my first note purchase, we had a borrower who had not made a payment or made contact in 12 months. Upon purchasing the note, I was prepared to fly down to the site and “flush out” the borrower. You wisely advised to sit back, put my efforts elsewhere and the borrower would come to me before the trustee sale date. Guess who called a week before the sale!!! Secondly, you had an excellent tip about using the agent who did the original Clear Capital BPO for support work. I made contact with the local realtor and have been working closely with him for the duration of this project. Later, I hired him to list the REO property and we are now very close to closing escrow.

2. Another great lesson was the “Bob and Alice” /Saprina story in the A to Z Course. Calling up the bank’s, getting the right person on the phone, and establishing relationships is a tough task. Your Bob & Alice story convinced me that persistence is the key to succeeding as I began my direct bank calling this year. At this time, I have called about 100 or banks, have regular check-in calls with many, have a Hot List of about 17 banks, and have received lists of notes for sale from four banks. It’s nothing close to “Bob’s” success but it’s a good start.

Thanks for everything, Dean.

John Martin

After finding your course around the beginning of May, I started analyzing it to determine if this was something that I could see myself doing. My original inclination was yes, but a talk with a lawyer threw me off the horse for a bit… especially with regards to licensing.

Upon delving deeper into the resources that you have online, however, I’ve come to the conclusion that the issues that the lawyer raised can be worked around and have started implementing the groundwork for a business based on buying notes.

Having a background in process automation, I’ve looked at the your process a bit differently than most people. I particularly like how you’ve broken it down into the 4 steps. I am finding that the steps are interconnected and that one aspect of the business has a profound affect on another. As a result, I’m now working my way through the various sourcing, valuing, negotiating/closing, and managing/exiting details to ensure that I have a valid process in place and I understand it before attempting to actually purchase a note.

For example, on the sourcing side, I’ve collected a list of all the banks, their web sites, phone number, etc – there’s 8393 of them – and am working on developing a ranking of which of those banks would be most likely to sell a small portfolio of loans or a single loan vs the $200-400M pool that I definitely can’t buy. I\\\’ve also done the same with Credit Unions – there’s 8019 of them – of which about 5668 have real estate loans on their books.

On the valuation side, I’ve got a list of all the counties, their recorder’s office, and note if they have online access or not. I’m about halfway through a dashboard, that given an address, quickly pulls up relevant info from online resources such as Zillow, truila, redfin, cyberhomes, etc, to help me develop a good valuation of underlying property.

On negotiation/closing side, I’ve started implementing a DB for the loans that when input, automatically calculates the maximum bid amount for a given rate of return, fades and pool bids, helps sort out the various exit strategies, allows notes on the bidding process/bank, and holds a documentation/task lists to keep me on track to complete the purchase. This would function similar to your Salesforce app that’s show in the videos but would be a heck of a lot cheaper.

To handle the management/exiting, I’ve got in mind a loan management DB, for that would calculating the capital gains vs interest, borrower contact notes, etc… assuming I’d service the notes which is something that I’m not yet sure as I haven’t talked with the loan servicers that you mentioned to understand what issues I might face doing it myself – as soon as I get to Step 4.

Bottom line is that from the resources you have online, I’ve realized that I at a bare minimum, I need to throughly understand the process before I actually begin and have tools that help me quickly evaluate the loans and make decisions. As you can see, I’ve been mostly focused on creating the tools and by creating those tools, it forces me to gain a better understanding of the process as I work through your course.

But what’s missing is the walk through by an expert – someone who’s been through it and knows where things are likely to breakdown and how to fix them – and that’s where your Power Notes Workshop comes in. The cheapest education is that where others have paid the price and are yet willing to share. I’m looking forward to attending – one way or another.

Regards,

- [name withheld by request]

I have used your bidding techniques and idea on pricing to my advantage when dealing with Kondaur on acquiring first mortgages, but first I had to learn their selling criteria.

Even though I have not been banging away at the banks, I also learned that I do not need to start with the 800 customer service number and speak to someone who is just going to stonewall me. I find the corporate number and ask for the manager or VP of secondary marketing, or head of loss mitigation and ask if they have any notes for sale or maybe I have a specific deal in mind. On occasion I will make offers on the first when I own the second.

My strategy has always been to work with the homeowner and work out a deal that allows them to make their payments and keep their house. It is their home, and I really do not want to deal with the property. I am into settlement or cash flow and refi later situations. Not that I haven’t had to pull the trigger and foreclose on several borrowers, but that is just to get them to speak with us and work out a deal.

I don’t know if I would be able to attend your even in California, although I would love to do that. I am in the building my business phase and using the Dave Ramsey method of beating down a lot of my debt.

Thanks for everything Dean.

Having said that, I also didn’t want to go back to a cubicle job, (which I feel is sort of like a prison sentence), never knowing when the ax might fall, never being able to make a “sky’s the limit” salary, but having to “kow tow” to your boss.

Anyway, the bright spots are, I don’t live pay check to pay check, and even with the recession I’ve managed to save some money, so I decided (based on recent RE bubble popping), that there has to be something in RE that can keep me out of the “cubicle hell”.

I scoured the Internet, and wouldn’t you know, I came upon Dean’s video. I immediately felt a connection, and thought “wow, this is for me”… however, when I went to sign up, I have to admit the 900 or so dollars was a deterent. (I have a small daughter and still have to be careful with money for now), but inherently I know that I need this info, and continue to read as much as possible about Dean and his program. I even remember thinking “I gotta meet this guy!”.

Anyway, I then went to a local RE seminar, unfortunately it was mostly on how to buy your 1st home (not me), but in asking the RE “experts” there about buying notes…. the response was what Dean might call “typical”. “Oh no, you can’t buy notes from Banks, they only sell in bulk”, etc. etc. That was a sign that yes, Dean is right.

I did find someone there (who was a friend of one of the agents), who piped up that “that is what I do, only I buy from individuals that hold notes”.. well, we struck up a conversation, and I’m meeting with her on Monday to talk about her business. Since I have a background in creating business web sites, I’m also going to pitch her on an idea I have. This never would have happened if not for Dean, and his program. Having said that, I WANT to meet Dean, but because I’m laid off I have to be careful what I spend my money on. If I could get a ticket, I could affort to travel there, (I live in SoCal), and it would def. get me going, and would be a godsend.

Anyway, thanks for listening. Wish me luck on staying out of “cubicle hell”!!

G. B.

Although I have not yet done my first deal I have lined up several investors who are willing to invest so we have a 7 figure line to use for these investments.

I have secured an attorney to put the paperwork together for this venture and for the investors.

Lastly I have contacted 4 bank presidents and 2 brokers and they are now aware of what I am looking for.

I believe that we will soon have a Tsnumai of bad debt substantially larger than the subprime mess we are still trying to get ourselves out of SO THE OPPORTUNITY IS HUGE!

Thanks for putting the materials together in a “Blueprint” easy to follow and implement system.

OOPS- almost forgot- Since I am in the mortgage industry and since some of these folks will be able to be “bailed” /refied or modified out I am working on my model so I have the best opportunity using your techniques to invest in the deals most likely to be able to be refied/modified out quickly– So I can earn additional income.

Just as an fyi- I actually wrote the book on working with buyers who have challanged credit or bankruptcies
Yes You Can Get A Mortgage….. so this is right up my alley.

Thanks Dean- Whether I qualify or not — I do appreciate the information you have provided.

Brian Sacks
http://www.loanofficerformula.com

Where do I begin… There are several gems of information that I have learned, studied and applied in my daily contacting, follow up and processing of notes to potentially bid as a principal and broker. Many of which have compounded and evolve into bigger and even more productive ideas and strategies. To many “a-ha” moments to count really. To name one of them and post it here would really sully the true value of your course Dean.

And what is this true value?

Because of the fundamental and solid teaching in your course, I find myself having more than enough non-performing notes to either bid on or broker out to larger investors. I’ve done that with just your basic but valuable info on contacting, knowing what to say and following up. I feel I have come full circle and have put in place a solid business that is more than ripe to take off. Yet that’s not it.

Is it the fact that because of your teaching, direction and strategies I am now linked up and working with some very well capitalized buyers to broker the many notes, pools of notes that now come through my email? No, that’s not it either.

So, if I must pick one thing then it would have to be the this:

It’s the underlying message, very well communicated, to really take serious, immediate and efficient action. The gift was that I completely believed it can be done. The course is rich in knowledge, strategies and precise direction but your ability to create a clear vision about how, if one commits oneself, anything is possible, is where the true value lies. The ability to convey believability and inspire has more endurance than most know. There is no suggestion that this endeavor is easy, however there is a definite and believable message that one can REALLY DO THIS. If you can get someone to truly believe in themselves, in what they are doing and focusing on, then a commitment follows that no obstacle, problem nor set back, big or small can get in the way of. THAT’S THE TRUE VALUE DEAN. It’s the kind of message that I believe almost every other course lacks. It’s the difference in “kind of” doing something because you are “really interested in it” and fully believing something is possible and completely committing to it. It’s the difference between luke warm motivation and down right and a truly inspired, committed and decisive action.

Another great part of this whole experience so far has been the opportunity to exchange and grow with others. I have met so many driven and focused people through the forum and conversations that there is no way one can fail. Surrounding yourself with some of these members has been of tremendous value. And if the opportunity to help out where I could benefited others in this experience, then all the better. I could of never done that without this course.

So, in summing it up:

Are all the tools you will ever need to start this business and beyond available in your course??

YES.

Are there countless strategies and pointers to be as efficient and successful as possible as well. Not the fluff but the meat and potatoes??

YES.

Is there a rock solid, fundamental teaching that you can take and evolve with in pursuing your own goals and aspirations in this business??

YES.

Does any of the above matter unless you can truly move somebody and get them completely clear on this opportunity to take decisive action daily??

NO. Not a lick…and that goes for EVERYTHING!

But this is what you have done Dean in the Note Buying Profits Course. The true gem is that underlying and constant message throughout the entire course.. that this is completely doable and the only thing that can stand in our way is ourselves….that’s it!

If all that has been written above remains on this page then I am grateful for that. Simply because it has allowed me to publicly express my tremendous gratitude on a job so well done.

On the other hand, don’t get confused… I want to go to this Seminar like I’d want to go to an EAGLES concert while on my third beer ( I’m a light weight) listening to “Hotel California”.

I love this business

Thanks again Dean.

I however, have a great success story. I attended a BAWB seminar in Mill Valley CA last Saturday. I did join as a member. The reason i attended aside from the obvious , was to learn about note purchases. The longer i sat there the more i saw that i needed to know.
It was your presentation , knowledge base, professionalism and educational prowess that really struck a nerve in me . I couldnt get out of my chair fast enough to sign up for your NBP & A-Z course and get the bonus of this Saturday’s 4 hour Jumpstart!! I really appreciate you sending me all those videos and course materials online with the PAC club access. What a collection of minds you have brought together, I LOVE IT!!!

All i can say is thank you for getting off my rear and into gear
David Johnson

It is interesting that some of the bank that I have talked to before, has already been shut down. So I know the remaining bank has to be motivated and that will make my job easier. Wish everyone benefiting from this opportunity.