Hi – I’m Susie, I’ve practiced law, and Dean asked me to contribute tips and pointers to help make your life easier. I’ll be writing weekly posts that will help you to navigate bank notes and the law.

I’ve received a lot of questions about tenants and what it means to foreclose on a property that has a tenant in it.

Do you have to rollover and accept whatever the existing lease is for the property? Can you be stuck with an occupied home and a troublesome tenant forever?

No, but you NEED to understand what having a tenant (or more importantly a lease) means on your exit strategy.

This summer President Obama signed into law the “Helping Families Save Their Homes Act of 2009” which includes provisions protecting tenants whom reside in a property that has been foreclosed upon.

The effect of all of this is that a foreclosing party (wake up! This means you!), must take the property subject to the rights of a bona fide tenant. I’ll get into what a “bona fide tenant” means – and no, it’s not what my law school professor used to call a “boner fides”!

According to this new law – you’re stuck with a 90-day notification requirement, at a minimum, prior to beginning an eviction action.

A bona fide tenant living in a property without a lease or on a month-to-month lease – and regardless of the State the property is located in, must be given 90 days notice prior to the effective date of the eviction. In the case there is a lease that was entered into before the foreclosure notice (e.g. a Notice of Default or a Lis Pendens); the lease governs a tenant’s occupancy rights.

In other words, if you foreclose on a tenant-occupied property and the tenant had a lease signed prior to your foreclosure notice, you are bound by the terms of the lease.

There is one saving grace!

The one exception where a lease will not govern is if the purchaser intends to occupy the premises as his/her primary residence. However, primary occupancy still requires a purchaser to provide a tenant with 90 days notice prior to eviction.
Furthermore, the Act also includes a provision stating that any State or local law providing for longer notice time periods or other additional protections for tenants shall trump the new Federal law.

A tenant qualified as a “bona fide” tenant if they meet ALL of the following criteria:

1) They are not the mortgagor or the child, spouse or parent of the mortgagor;
2) The lease/tenancy was the result of an arm’s length transaction; and
3) The rent is not substantially lower than the fair market rent.

What does “substantially lower” mean?

The Act doesn’t answer this question. In fact, it isn’t clear if market rate is determined at the time the lease was signed or at the time of the foreclosure sale. Say someone signed a lease in early 2007, and a foreclosure sale took place in late 2009 – there could be a significant difference in the rental rates!

There’s another question here: if your tenant doesn’t pay their rent – or if they didn’t pay the rent before the foreclosure, do you still have to give them 90 days’ notice?

Once again, the Act is silent on this.

There’s an interesting title-related question that’s being raised now due to the Act: will title companies that insure property require an exception for the rights of tenants pursuant to the Act’s notice requirements?

And in a related question, if title companies require an exception for notice requirements, will they be willing to delete the exception once the notice requirements have been met?

In conclusion, the Act severely affects the rights and increases the burdens of foreclosing lenders. For example, if a lender forecloses on a property in which a tenant has entered a one year lease a few days prior to the foreclosure notice, the lender (or any subsequent purchaser) will be required to honor that lease for its term.

As a result, the lender may not only become a landlord, but if the tenant happens to be a complete deadbeat who has trashed the property, for example, the lender/landlord may be stuck with them for an extra 90 days (or possibly longer) before they can start the eviction process.

NOTE: The information presented in this blog is for informational purposes only, and should not be construed as legal advice. There is no intent to create an attorney-client privilege or relationship by reading this email and/or blog update.

We’re excited about the “Power Notes” workshop on 7/24-25 (note new dates) and the “My First Note” workshop on Sunday, 7/26.

Here’s what happening (see the “Q&A” section below for more details):

Updates to the “My First Note” beginner’s workshop

Updates to the “Power Notes” advanced workshop:

The main things to notice here are the added day for the Power Notes workshop, the addition of several great faculty members, the looming price increase, and the limited number of slots left.

Q&A

Q: Why did you add a Friday half-day session (1-5 pm) to the Power Notes workshop?

A: Dean realized last week that with five stellar faculty members on hand, he just needed more time with all the workshop participants.

Q: Who are the faculty for the workshops?

A: Saprina Allen, Charly Phelan, Sherry Nickels, Kevin Kanouff, and John Liebgott–and of course, Dean.  Check out the Faculty bio page here.

Q: Are there any slots left?

A: As of Wednesday, 7/8, there are at least five slots left for each workshop. Check back here for updates.

Q: What does it cost?

A: The price is $897 for each workshop.

Q: When is the price going up?

A: The price goes up $100 on Monday, 7/13, at midnight.

Q: Can I get a discount?

A: Yes, if you’re a PAC (Private Access Club) member, you get $100 off. Hint: you can sign up for PAC for a penny… (click here for more details)

Q: I heard that Dean did a couple of webinars explaining more about the events. Can I listen to them?

A: Sure. The “Power Notes” webinar recording is here, and the “My First Note” recording is here.

If you have any questions or comments about the workshops, leave them below–or call Jen at 415-252-7997.

See you in a couple of weeks!

1. Jarrell Armstrong

Perhaps the most common feedback I get from students is that I’ve improved the speed with which they became “professional” as a note buyer or a note finder.

And the term “professional” means both oral presentation skills to banks, and negotiation skills in terms of what you ask (or demand) when you’re negotiating with banks. If you can’t cut it with the banks or with sellers in general, then you won’t get anywhere in this business – so being “primed and ready” so-to-speak, is a critical part of your training. And having the right tools is critical. I never had these when I got started. And imagine, for those of you out there buying your first note (as I did four years ago) – you’re really at the mercy of the bank if you have no idea what a Purchase and Sale Agreement is, aren’t you?

This is one line that I really picked up on out of Jarrell’s submission: “Good documents and purchase agreements and bid stips,” as Jarrell pointed out in his submission, “build credibility and most importantly, protects you and makes you a much better buyer.”

Jarrell spent 14 years on Wall Street, as both an analyst and in research sales. And yet he himself admitted that he’s had to learn a whole new lingo here in the world of notes, and that none of his background gives him much credibility in this new world of notes.

Jarrell’s greatest gift of all isn’t his background on Wall Street, or his network, or his bank “savvy”. It’s actually his willingness to learn and to be coached. “I still NEED help in this process,” he wrote.

Many many people are stubborn, and feel that they know it all (OK, so my wife accuses me of this all the time, so I should drink from the Kool-Aid here!). Case in point – a woman came up to me at a real estate investment club I spoke at recently and said only “You’ll be hearing from me.” One week later I get a call from her telling me “I’ve seen so many pools and I’ve been in this business for 30 years – what are you looking for?” I told her what my criteria are and she said “Well, send me an LOI and a POF and I’ll get you all the pools you’d ever want to see. There’s soooo much on my desk right now, it’s crazy!”

So I asked her, because I was actually curious – “What is the total UPB on some of the pools you have available right now?”

There was silence.

Then she asked me: “What’s UPB?”

When I explained, she immediately jumped back in with her schtick: “Well, I’ve been in the business for 30 years, have my own broker’s license, and I’ve seen it all – I just hadn’t heard of that term before.”

Jarrell – congratulations to you for both winning a scholarship, and for being man enough to know when to ask for help to kickstart you even faster. You’ll do well.

I look forward to seeing you in San Francisco.

Just one request … please leave your electrified fooling machine at home.

2. Mike Ruscica

Have you ever gone to a new city and tried a new type of coffee and been … blown away with how good it was?

In simpler terms, do you find that you’re a creature of habit who’s gotten used to certain things in your life: the jeans you wear not because they’re the ones that make you feel the thinnest or the sexiest, but because they’re the ones you bought this year and haven’t had the time or the money to buy another one?

Or the cup of coffee you pick up at the local coffee shop across the street from work every morning? Or the Friday night movie night you spend with your wife or partner because you’re too lazy or too cheap to drive the 45 minutes to the nearest iMax?

Well when it came to buying Notes – Mike Ruscica had his daily habit. At least, that’s how he explained to me how he got his start in note buying with Dreambuilder Investments, located in New York.

At one point, Mike thought that he would build his entire business centered off of one seller, Dreambuilder.

And then he discovered us.

And he realized that he could “mix it up with the big boys and girls,” as he wrote in his submission.

How did he come to that realization?

He claims it was the confidence he gained in talking to banks and sellers, from the webinars and calls and training that we came up with for people just like him, here at NoteBuyingProfits.

Mike – I look forward to seeing you here in San Francisco.

–Dean

P.S. I’ll be sure to stock the hot tub with plenty of big boys and girls for you.

Not sure if you noticed, but our
Note Buying Forum is gaining some
momentum and there is some lively discussion on there
now.

Plus some really smart folks are hanging out & are
contributing on how to buy and sell real estate notes.

So, use the POWER OF COMMUNITY and sort through it,
ask questions, and share your knowledge with others.

We all know something about Note Buying that others don’t.

I just posted a response to a thread on C.ash for
Keys when buying and selling Real Estate Notes
on there, that I think will be of value to you, so I
am posting it here as well:
(You can check the whole thread, incl. the other
posts in it as well, right here.)

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

…

Here’s an aha on the C4K debate.

Assume no jr lienholders.

In CA, I could find buyers willing to pay 75% of
market value for an REO.

In CA, I could roughly buy non-performing notes aka
Real Estate Notes for 50% of market value.

So the act of taking a property to sale, and
eliminating primarily the Bk risk, is worth a full 25%
of the home’s value.

Always keep this in mind buying and selling Real Estate Notes!

So, let me go through some numbers:

$100,000 home’s market value
$150,000 1st mortgage
$50,000 purchase price

How much $ should I offer the Homeowner in a C4K
offer?

Well, let’s say we offered $15,000. What would the
yield be on that investment, assuming the homeowner
accepted, and we took 4 months from purchase of note
to sale of REO?

The answer would be ~45%.

You spent $50,000 to buy the note, and another
$15,000 to get the deed, and you sold the house for
$75,000 in 1/3 of a year, so take the yield and
multiply it roughly by 3 to get the annualized return.

The aha is then that I should be justified paying up
to 15% of the home’s value, in order to transform my
Deed of Trust into a Deed. The time savings is
substantial, and the net impact on yield is
significant.

So before you skimp on the C4K offer and think “damn
borrower, you don’t deserve a penny!”, run some
numbers on the impact having Deed could afford you
today!

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

Be your success & go out there and TAKE ACTION!

Sorry that I haven’t been in touch more, but I am

about to close on a pretty large pool of real estate notes
(more on that another time), plus we are in the middle of
preparing the new module on ‘brokering notes‘.

If you are already a member of the Private Access Club (PAC):
get ready for the return of Saprina, the veteran bank rep,
for some serious LIVE training next week on how to talk
to the bank when you buy real estate notes.

If you are not a PAC member yet: WHAT ARE YOU WAITING FOR?

Tomorrow never comes…

And I have taken all the Risk away from you:

There is a 30-day f.ree trial and a crazy amount of hours of
Killer recordings in the members area, plus ongoing live
webinars/calls.

If you are only remotely interested in getting
into buying notes:

How much could role-playing with an actual Veteran
Bank Rep & her CANDID feedback/coaching be worth to you??

Hint, hint: it could mean your jump-start into the real estate note
buying business -
transitioning from theory into PRACTICE – and not being
scared by ‘Ohhhh, I don’t know what to say when calling those
banks to buy notes…’ – but rather knowing EXACTLY what to say!

The information is all here, for those that choose to see it.

Here is what some of the guys that TOOK ACTION recently E-mailed
me (and I didn’t ask them to ‘write me s/th nice’, btw):

“I truly appreciate all the information you have provided and taught
in the A-Z Note Buying Course. I have read ALL of the competition’s material and
it comes nowhere near yours.”
Josh Gray, Chandler, AZ

Or this one:

“By the way, Dean, it’s almost embarrassing what I know now compared
to just 2 1/2 months ago, when I ordered your note buying course.
It’s downright silly!”
Will Seminario from FL

Will YOU be next in taking this info & going to town with it and buy and
sell Real Estate Notes as your business?

I can only give you the info. The Action-Taking Part you will have to do on your own.

See you on the other side?

To your success,

Dean

Would you like to turn anyone you know (like
me), who has something to say, into a chipmunk?

There’s a F.REE piece of software called MySpeed
(offered at www.enounce.com) that allows you to
control the speed at which you hear/see (any flash)
videos. (And without changing the pitch!)

Absolutely great for spending less time listening,
and more time doing.

Here’s a way to shrink 16 hours of video, like our
A-Z Note Buying Course, hint, hint) into *10* hours.
-> Without killing the audio quality or changing your
learning experience in any way.

Matter of fact: at that faster speed, you don’t have
time to ’space out’ while listening, so not only will you
take the info in faster, but you will also be more
alert/learn better.

It just turns me into a chipmunk.

Go ahead … give it a try … you know you always
wanted to turn someone into a little furry cartoon
character.

Install the software (sorry, XP & Vista only) and
watch one of our videos (like this real investment club presentation)
to test it.

MASSIVE time saver!

And if nothings else, you got a good laugh out of it.

Dean

PS: There is a similar piece of software that has the
same effect on AUDIO MP3s: www.fasteraudio.com
(Lets you convert your MP3s into ‘faster audio’ MP3s.
Also useful!)

PPS: For Nerds only:
Learn to READ faster with software like www.readfaster.com
or www.acereader.com (Both excellent products, btw.)

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

* Check out our NEW FORUM: www.NoteBuyingProfits.com/forum

* Ready to REALLY get down & dirty?
‘A-Z Profiting from Discounted Mortgages Business-in-a-Box‘.
-> 16 hours+ of Video Training, 23 pages of checklists, a complete 8-Week Roadmap,
an extensive Table of Contents for quick reference, plus TONS of Bonuses.
[===> You can check out Hours of F.REE Training Videos of the actual Course Content HERE.]

* ‘PRIVATE ACCESS CLUB’ (PAC) – Test-Drive it for F.REE for 30 Days!
Get Your Questions Answered LIVE & get Ongoing Support & Training!
Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.),
Real-Life Case Studies, Role-Playing, Members-Only Forum, and ‘HOT SEATS’ to get coaching on
Your Deals/Business Challenges, and more

* Questions? Chances are I already answered them at www.NoteBuyingProfits.com/blog.
(Use the ‘Search’ feature or click on the ‘FAQ’ category on the right to see them all!)

It’s a tough choice, I know.

And I’m sure some people look at nonperforming notes and
say “why would I EVER want to own paper when I can own the real
estate for soooo cheap?!”

Well, yes. It can be cheap.

Well, yes. It is real property as opposed to a debt
obligation.

And yes, you can get rid of it pretty quickly if you
price it right.

———————————————————————

* * * So why shouldn’t everyone drop everything they’re
doing and chase REOs? * * *

———————————————————————

1.    Valuation Risk.

You’ve gotta nail the home value,
and take good care of evaluating interior condition
here. It’s one thing to find yourself with a lemon
(e.g. loan), where you have several ways to turn the
lemon into lemonade (e.g. get borrower to make
payments). It’s quite another when you have a vacant
property, to try squeezing sweet juice out of this
lemon. Can obviously be done, but you should know your
area values and your interior condition much better when
buying REOS than when you’re buying notes.

2.    Purchase Risk.

They can be a time waster until you
nail your sources! Usually 2-5 brokers deep in a
chain, at least one ubiquitous “attorney” who is a
fraud and huckster claiming he or she is (not has, but
“is”!) a “mandate” for someone else.

3.    Deal Risk.

A friend of mine just spent 2 months
chasing one deal of 16 REOs. He just closed on 1 of
them. All the others were pulled by the seller as the
agents (all but 1 were listed) got the properties into
contract. Or they were lost to a competitor since
there were 3 brokers in between him and the seller.
The one property not pulled was … you guessed it … the
one that wasn’t already listed. The “loss ratio” on
note pools – in other words the rate at which notes
are pulled from a specific pool – aren’t as high by
any means. (One day, ask me about the west coast pool
that we lost!)

4.    Discount Risk.

The discounts that you typically
hear on REOs may not be quite as juicy as you’ve been
made to believe. Unlike a “sweet” note deal that
closes in the 30%’s, REO prices in that range are
typically a pipedream. But you’ll hear pricing that
low on a regular basis.

I’m not panning REOs by any means.

Just jump in with your eyes open, and don’t get
fooled by all the hype that you’re reading about
the REO deals to be had right now.

Talk soon,

Dean

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

* Check out our NEW FORUM: www.NoteBuyingProfits.com/forum

* Ready to REALLY get down & dirty?
‘A-Z Profiting from Defaulted Mortgages Business-in-a-Box’.
-> 16 hours+ of Video Training, 23 pages of note buying checklists,
a complete 8-Week How-to-Buy-Notes Roadmap,
an extensive Table of Contents for quick reference, plus TONS of Bonuses.
[===> You can check out Hours of F.REE Training Videos of the actual Course Content HERE.]

* ‘PRIVATE ACCESS CLUB’ (PAC) – Test-Drive it for F.REE for 30 Days!
Get Your Questions Answered LIVE & get Ongoing Support & Training!
Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.),
Real-Life Case Studies, Role-Playing, Members-Only Forum, and ‘HOT SEATS’ to get coaching on Your Deals/Business Challenges, and more

* Questions? Chances are I already answered them at our Note Buying Blog.
(Use the ‘Search’ feature or click on the ‘FAQ’ category on the right to see them all!)

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

I got quite a few emails and calls from people who missed the f.ree note buying webinar last Wednesday and/or missed my two emails about the p.rice increase of the A-Z Note Buying Course, who were frustrated that they missed out on getting in at the old introductory p.rice on my how-to-buy-notes course.

Well, I thought of a solution for you:

Even though the price of the A-Z Note Buying Course has already gone up by 50% officially on our site, with the SPECIAL CODE ‘lastchance’ filled in at the TOP RIGHT of the order page (where you put in your CC info), you can still get it at the old price – UNTIL (incl.) MONDAY, 11/10, that is.

Hope you get a chance to pick it up at the old price. (Don’t forget to put in the SPECIAL CODE ‘lastchance’ – will only work until incl. Monday.)

You will truly have all the how-to-buy-notes education and step-by-step instructions you need to kick-start YOUR note b.uying business – and bust the recession with a technique your frustrated RE competitors barely know exists, let alone know how to execute on it.

You do now.

Talk soon,

Dean

PS:

Want some ’social proof’?

See what Darek Latawski from Elmhurst, IL, had to say after the webinar (and the ‘how to buy notes’ course) this past Wednesday.

The text below is what he put in our ‘feedback box’ after the note buying webinar – unsolicited, I might add. (He had also bought the A-Z Note Buying Course recently.)

“Thanks, Dean. Great job! Bought the course 2 weeks ago and already went through all the Videos. Amazing…

Dean, I’ve had Real Estate Experience in Short Sales, Whole Sales, Lease Options, as well as other strategies. However, you’ve opened my mind to a completely different strategy that doesn’t limit me in ways the others do. Thank you very much for everything.

You are a Real Estate God Send!

PS: Your how-to-buy-notes product is wayyy underpriced. Just thought you should know. It’s like I got a steal of a deal and I didn’t even have to negotiate it. If only all Real Estate were like this!

(’What did you like BEST about this webinar?’)
EVERYTHING!!! And please don’t ask me which part I would want to have covered on these calls/webinars when you provide that kind of quality material. It’s like giving a poor man a choice of picking between five $100 bills.”

It’s even more important in my opinion NOW than it was several weeks ago, because Treasury’s been sidetracked onto a cul-de-sac by both Congress and by European leaders, in my opinion.

Paulson’s original TARP plan was intended to infuse capital into banks by buying assets, not by merely taking senior equity positions.

That plan was sound because it addressed the core problem: banks are holding mortgages whose value is either:

a) very low now (what I will call Impairment Risk)

OR

b) at a value that will continue to drop over time (what I will call Asset Deterioration Risk).

Let’s look at each of these two risks one at a time:

(a) Impairment Risk (assets on a bank’s balance sheet are “very low” now). Very simply, the inherent “risk” of holding impaired or low-value assets (e.g. non-performing loans) on your balance sheet – is that you may not know exactly what the value of that impaired asset because you haven’t tried to sell it on the secondary market to firms like mine.
So now, what does a cash infusion do to your ability to price those assets and what’s called “mark them to market”? Absolutely nothing is the answer.

(b) Asset Deterioration Risk (assets on a bank’s balance sheet will/may continue to drop in value). This risk is the biggest of all in my opinion, and is at the core of the current financial crisis. Understand this - and address this – and we’ll pull a u-turn on our little cul-de-sac and get back onto the superhighway of financial soundness.

Let me give you an example of (b) above. You’re the Chief Financial Officer of Bank I-Hold-Mortgage-Debt. Let’s take a perfectly performing $100,000 mortgage on our books at $100,000.

Borrower has been current for 24 months, they have just hit their cap of 115% (this is one of those lovely but toxic Option ARM’s originated by, say, World Savings, in 2006 – if you’re not familiar with Option ARM’s and how they work, click here for a simple explanation, then come back here to get the rest of this little story).

Question: how much do you value this mortgage at on your books?

Well, the value of the mortgage is actually pretty easy: it’s $100,000. So you book it as an asset with a value of $100,000. But now it’s this pesky little category on your balance sheet called “Loan Loss Reserve” that you’re confused about.

If you don’t know whether someone’s going to be able to make their mortgage payments in 3 months or 12 months or 24 months, then the value of that mortgage today could either be: (i) 100% of principal balance because the loan is perfectly performing and you’re planning on just holding onto it as a performing loan, (ii) 70% of principal balance because you’d want to sell that loan as a performing loan, (iii) 45% of principal balance because you actually think this Option ARM is already non-performing even though the borrower has made every single “teaser” payment.

Let me explain the third option I just mentioned, about treating this as a non-performing loan.

This is crucial to understanding what’s going on with financial institutions today: we are seeing entire portfolios of Option ARM loans ($20M and larger pools) being marketed by the Seller as “performing” loans, EVEN THOUGH the initial Minimum Payment period has expired or the Loan Recast limit on the loan’s principal balance has been reached.

What does this mean?

It means that financial institutions are holding these Option ARMs on their books as performing loans at probably a value of $100,000 in my example above.

But the Borrower is still paying some ridiculously small introductory rate of maybe 1.5% – so that’s $125/month on that $100,000 loan, rather than the loan’s regularly amortizing rate of, say, 7%, which translates to a monthly payment of $583/month.

So let’s get back to Treasury and to TARP, and both Impairment and Asset Deterioration risk.

If Banks get an infusion of capital, they may be more willing to mark down some of their assets to what they anticipate current value to be. That’s a very good thing: it addresses the Impairment risk.

But the fundamental problem in the markets today is that we are still seeing Asset Deterioration happening as loans fall into non-performing status.

What did TARP initially propose?

Paulson wanted to go to the markets and buy a whole chunk of these mortgages, and then try to “fix” them in some way once they were being managed by the government.

I’m confident that will stll happen.

It’s just that we got sidetracked with a nice little gimme of several hundred billion dollars that some banks close to Paulson were able to nab before TARP ever got going.

So with all that said, some of the original points that I’d raised back when Congress was debating what TARP should look like, are still valid today, and I wanted to share them with you here.

Let me know your thoughts as a comment below- I welcome debate and your opinion on this.

Understanding, and drilling down into this question of what to do to get out of this mess is something we owe it to ourselves as investors in this space to both understand and to educate others about.

Be your success.

Dean

PS: We are gearing up for a series of 8 how-to-buy-notes webinars where I will take you by the hand and walk you through how to get YOUR note buying business kick-started. No kidding.

Let your RE competitors keep wondering how to make the ‘house buying business’ work in this market – while you are setting up shop over here, building an infinitely more SCALABLE BUSINESS (can you say ‘lead after lead after lead from ONE single souce – over and over and over again’?!), that your fellow RE investors barely know even exists.

Each webinar will be dealing with 1 week of the 8-Week Roadmap I laid out for you – a step-by-step Blueprint of my own business.
More on that later, but for now: it will start on Wed., 11/5, as part of the Private Access Club – and you can test-drive it for 30-Days for F.ree. Not much risk there…

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

* Check out our NEW FORUM: www.NoteBuyingProfits.com/forum

* Ready to REALLY get down & dirty?
‘A-Z Profiting from Discounted Mortgages Business-in-a-Box‘.
-> 16 hours+ of Video Training, 23 pages of checklists, a complete 8-Week Roadmap, an extensive Table of Contents for quick reference, plus TONS of Bonuses.
[===> You can check out Hours of F.REE Training Videos of the actual Course Content HERE.]

* ‘PRIVATE ACCESS CLUB’ (PAC) – Test-Drive it for F.REE for 30 Days!
Get Your Questions Answered LIVE & get Ongoing Support & Training!
Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.), Real-Life Case Studies, Role-Playing, Members-Only Forum, and ‘HOT SEATS’ to get coaching on Your Deals/Business Challenges, and more

Be your success.

Dean

Wow – what a wild week last week, and it’s continuing this week.

Will it be $700 Billion, or $150 Billion as some lawmakers are suggesting?

Will Treasury get its way?

And then, if it passes, will that suddenly dry up the ENTIRE supply of non-performing bank notes out there?

ABSOLUTELY NOT.

The bad news is that a lot of banks are actually going to be in trouble and have to recapitalize themselves if they have to sell their assets, even at Treasury’s anticipated prices.

In fact, you should be “sharpening your pencil” as they say in the note buying industry, in order to get ready to start bidding on paper.

Whether it comes from Treasury, or whether banks themselves engage in “price discovery” in order to see what their assets are really worth, I anticipate there will be a lot more paper in the market over the next year.

I put together a short VIDEO with my take on the subject for you, where I am also pointing out the webinar we are doing tonight in the Private Access Club on ‘How to get Your Note Buying Business UP-AND-RUNNING within 8 Weeks!’ (No worries, if you are reading this later… the REPLAY will be up in the members area! And, hint, hint, there is a 30-day FREE trial for you…)

I will take you by the hand through an 8-Week Roadmap I put together for you, where I am laying out a CLEAR PATH for you, from A-Z. Step by Step. Done for you.