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	<title>NoteBuyingProfits.com/blog &#187; how to buy defaulted mortgages</title>
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	<description>Real-Life, Up-to-Date Training to Profit from Defaulted Mortgages</description>
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		<title>Cracking Kondaur</title>
		<link>http://www.notebuyingprofits.com/blog/1116/cracking-kondaur/</link>
		<comments>http://www.notebuyingprofits.com/blog/1116/cracking-kondaur/#comments</comments>
		<pubDate>Fri, 31 Jul 2009 18:20:16 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Buying from Banks]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[Kondaur]]></category>
		<category><![CDATA[Non Performing Assets]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=1116</guid>
		<description><![CDATA[Kondaur is hot
Wherever you can buy a single note from, you should be &#8220;in there&#8221;.
And one of the best places to be &#8220;in&#8221; right now is Kondaur Capital (www.kondaur.com).
Surprised that I would recommend a single seller in such a way?
You shouldn&#8217;t be.
Help Dean Get the Skinny on Kondaur
For those of you that I&#8217;ve trained personally, [...]]]></description>
			<content:encoded><![CDATA[<h1>Kondaur is hot</h1>
<p>Wherever you can buy a single note from, you should be &#8220;in there&#8221;.</p>
<p>And one of the best places to be &#8220;in&#8221; right now is Kondaur Capital (www.kondaur.com).</p>
<p>Surprised that I would recommend a single seller in such a way?</p>
<p>You shouldn&#8217;t be.</p>
<h1>Help Dean Get the Skinny on Kondaur</h1>
<p>For those of you that I&#8217;ve trained personally, you know that I&#8217;m fond of saying that the note buying business is merely an information business in which what we buy and sell happens to be secured by a house.</p>
<p>So in this information business, the person with the best information &#8220;wins&#8221;.</p>
<p>Let me give you an example that someone shared with me recently. Let&#8217;s say that you are evaluating a note to buy and it&#8217;s in bankruptcy. And that the seller doesn&#8217;t know that the debtor is making bankruptcy payments through the trustee. That extra cash flow that the seller wasn&#8217;t aware that they could be receiving could be the difference between a 15% and a 20% rate of return on your investment.</p>
<p>Is Kondaur potentially a good source for notes? Absolutely. They&#8217;re hungry. They buy cheap and look to resell for a profit, and they&#8217;re aggressively shopping for more investors. Anyone buying notes right now could do extremely well buying from Kondaur &#8230; IF they know what to look out for.</p>
<p>So in order to educate you all as best I can, I&#8217;m asking you to help me.</p>
<h1>Winning in the Information Business</h1>
<p>I&#8217;d like to hear what your experience has been with Kondaur thus far. This will be ANONYMOUS. <strong>There are two ways to give us &#8220;the scoop&#8221;:</p>
<p>1. Call 888-772-7771, a special tollfree number we set up to record your experiences, and leave a message<br />
<br />2. Leave a comment below and put &#8220;ANON&#8221; as your name and info@nbp.com as your email address.</strong></p>
<p>I&#8217;ll share the initial results of our findings with PAC members next Wednesday, August 5th at 5 PT/8 ET, in a session titled &#8220;How to Soar with Kondaur&#8221;.</p>
<p><strong>You don&#8217;t need to have closed on a deal with Kondaur in order to help us.</strong> Please feel free to share whatever experience you&#8217;ve had if you feel that what you&#8217;ve learned can help others.</p>
<p><strong>Questions to guide you in your feedback:</strong></p>
<p>1. Have you closed a deal with Kondaur?<br />
 2. If so, what are the specifics of that deal &#8211; how much did you spend, what did you buy, how much did you make?<br />
 3. What was difficult about dealing with Kondaur?<br />
 4. What went well in dealing with Kondaur?<br />
 5. The more specific you are, the better (but please DO NOT share specific addresses, borrowers&#8217; names, or loan account numbers)</p>
<p>Regards,</p>
<p>Dean</p>
<p><strong>P.S.</strong> I&#8217;ll share the initial results of our findings with PAC members next Wednesday, August 5th at 5 PT/8 ET, in a session titled &#8220;How to Soar with Kondaur&#8221;. If you&#8217;re not a member of PAC, you should definitely join in order to learn about this excellent source for notes in the current marketplace, and how you can best take advantage of the opportunity it presents. <a href="http://notebuyingprofits.com/privateaccessclub.html">Click here</a> to join today.</p>



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<br/><br/>]]></content:encoded>
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		<slash:comments>12</slash:comments>
		</item>
		<item>
		<title>Power Notes Workshop Survey</title>
		<link>http://www.notebuyingprofits.com/blog/782/power-notes-workshop-survey/</link>
		<comments>http://www.notebuyingprofits.com/blog/782/power-notes-workshop-survey/#comments</comments>
		<pubDate>Tue, 30 Jun 2009 20:12:02 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Live Events]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[how to find notes]]></category>
		<category><![CDATA[note broker]]></category>
		<category><![CDATA[Power Notes Workshop]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=782</guid>
		<description><![CDATA[Power Note Workshop tailored to YOUR needs&#8230;
Quick question from Dean about speakers for the July 25th &#8220;Power Notes&#8221; workshop:
Most of you have challenges finding product, some of you have challenges finding buyers for your product, and many of you would like to raise more money for your business.
In order to best serve your needs, help [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Power Note Workshop tailored to YOUR needs&#8230;</strong></p>
<p>Quick question from Dean about speakers for the July 25th &#8220;Power Notes&#8221; workshop:</p>
<p>Most of you have challenges finding product, some of you have challenges finding buyers for your product, and many of you would like to raise more money for your business.</p>
<p>In order to best serve your needs, help me  HELP YOU succeed.</p>
<p><strong>We can have up to two expert guests on July 25th. </strong></p>
<p><strong> Which ones would be most helpful to you?</strong></p>
<ol>
<li> <strong>Note Finding Experts</strong> &#8211; Would you want to able to meet industry experts like Charly Phelan or Saprina Allen in person?  Have 	the chance to ask them all forms of bank/seller related questions?</li>
<li><strong>Finding Buyers</strong> &#8211; Would you want to meet Steve Cohen of Nautilus Capital or Sherry Nickels of Pinnacle Acquisitions to help 	you find buyers for your product?</li>
<li><strong>Support Related Questions</strong> &#8211; Would you want to meet Kevin Kanuf, the founder of Statebridge, our servicer? To get the inside 	scoop on servicing, licensing, and asset management?  Would you like to meet Ryan Tomazin the Entrepeneur/CFO of Integrated 	Asset Services, one of our BPO companies?</li>
<li><strong>Raising Money</strong> &#8211; Would you want to meet a hard money lender for your note business?  Or a prospective equity investor?</li>
</ol>
<p>The point I&#8217;m making here is…whomever I end up having, you will be able to make a number of very valuable contacts that may very well propel you to the next level (or two) in your business.</p>
<p>These small group hobnobbing sessions amongst industry experts and fellow investors are what form the foundation of the most discreet and powerful business networks.</p>
<p><strong>What will help you most? </strong></p>
<p><strong> Give me feedback and comment below.  Please respond by July 2nd, end of business day. </strong></p>
<p>Thanks,</p>
<p>Dean</p>
<br/><br/>]]></content:encoded>
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		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>How to buy Notes &#8211; The case of the &#8216;hairy title&#8217;</title>
		<link>http://www.notebuyingprofits.com/blog/304/how-to-buy-notes-the-case-of-the-hairy-title/</link>
		<comments>http://www.notebuyingprofits.com/blog/304/how-to-buy-notes-the-case-of-the-hairy-title/#comments</comments>
		<pubDate>Sat, 29 Nov 2008 13:41:13 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Research]]></category>
		<category><![CDATA[buying bad paper]]></category>
		<category><![CDATA[buying defaulted paper]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[defaulted mortgages]]></category>
		<category><![CDATA[Free Excerpt]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[Non Performing Loans]]></category>
		<category><![CDATA[nonperforming notes]]></category>
		<category><![CDATA[note buying]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=304</guid>
		<description><![CDATA[On how to buy notes &#38; researching title:
I hope you enjoyed your turkey on Thursday!
If you are following along in our 8-part Webinar Series on
how to get you jumpstarted to buying your first note
as part of the Private Access Club (PAC) (f.ree 30-day Trial,
hint, hint), here&#8217;s an
* * * How-to-Buy-Notes EXERCISE FOR YOU TO REVIEW [...]]]></description>
			<content:encoded><![CDATA[<p>On <a href="http://notebuyingprofits.com/blog/304/how-to-buy-notes-the-case-of-the-hairy-title/"><strong>how to buy notes</strong></a> &amp; researching title:</p>
<p>I hope you enjoyed your turkey on Thursday!</p>
<p>If you are following along in our 8-part Webinar Series on<br />
how to get you jumpstarted to buying your first note<br />
as part of the <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">Private Access Club</a> (PAC) (f.ree 30-day Trial,<br />
hint, hint), here&#8217;s an</p>
<p>* * * <strong>How-to-Buy-Notes EXERCISE FOR YOU TO REVIEW</strong> * * *</p>
<p>Find out as much as you can about what (and who)<br />
is on title for:</p>
<p>43 Poplar St, in Old Town, Maine</p>
<p>Follow the instructions in Appendix B: the Title<br />
Checklist from the Roadmap that you receive as part of<br />
the <strong>A-Z <a href="http://www.notebuyingprofits.com/preorder" target="_blank">Note Buying Course</a></strong> (in case you<br />
haven&#8217;t ordered it already &#8211; you are getting 25% off<br />
until including this Sunday with SPECIAL CODE &#8216;tg&#8217;).</p>
<p>Actually, I just realized that the title check list is part<br />
of the free excerpt of those 23 pages worth of<br />
check lists in the course.</p>
<p>So, check our <strong><a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf" target="_blank">Note Buying Checklists</a></strong>.</p>
<p>And in the <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">coming week&#8217;s Private Access Club Session</a><br />
we&#8217;ll review this together and compare results.</p>
<p><strong>===&gt; This is your opportunity to learn how to review<br />
title on a property, and to compare notes with me as<br />
you go.</strong></p>
<p>Learning <a href="http://www.notebuyingprofits.com"><strong>how to buy notes</strong></a> BY DOING.</p>
<p>Remember, this is the 2nd step of 8 in launching<br />
yourself into Note Buying. Step by step.<br />
(And all previous webinars are neatly stored in the<br />
PAC members area for later review for you&#8230;)</p>
<p>And in case you don&#8217;t have the A-Z Course and want to<br />
follow along without it, not a problem<br />
(though you won&#8217;t get as much out of it).</p>
<p>Going through these steps is a VERY useful exercise.<br />
Guaranteed.</p>
<p>So, <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">join me next Wednesday at 5pm</a>.</p>
<p>(<strong>Want to get a taste what those <a href="http://www.youtube.com/watch?v=-yE_cDY20xs">how-to-buy-notes</a> webinars are like?</strong><br />
Check out the week 1 webinar on <strong>&#8216;<a href="http://notebuyingprofits.com.s3.amazonaws.com/pac/videos/110508PACwebinar91minRoadmapW1swfsef800toclspreorder/110508PACwebinar91minRoadmapW1swfsef800toclspreorder.html" target="_blank">How to Determine the Value of any Property&#8217;</a>.<br />
Accurately &#8211; without leaving your couch&#8230;&#8217;</strong><br />
93 minutes of no-fluff info for you. Absolutely f.ree.)</p>
<p>Somebody will buy those <a href="http://www.notebuyingprofits.com">non-performing loans</a> and profit<br />
from them. May as well be you and me.</p>
<p>And there are more nonperforming notes around than any one<br />
person or entity can handle these days&#8230;</p>
<p>Talk soon,</p>
<p>Dean</p>
<p>=================================</p>
<p>* Check out our NEW <strong><a href="www.NoteBuyingProfits.com/forum">Note Buying Forum</a></strong></p>
<p>* Ready to REALLY get down &amp; dirty?</p>
<p>&#8216;A-Z <a href="http://www.notebuyingprofits.com/preorder.html" target="_blank">Profiting from Defaulted Mortgages</a> Business-in-a-Box<br />
-&gt; 16 hours+ of Video Training, 23 pages of <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf" target="_blank">Note Buying checklists</a>, a complete 8-Week <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Sample.pdf" target="_blank">How-to-Buy-Notes Roadmap</a>, an <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/AZtableofcontents.pdf" target="_blank">extensive Table of Contents</a> for quick reference, plus TONS of Bonuses.<br />
[===&gt; You can check out <a href="http://www.notebuyingprofits.com/freenotebuyingresources.html" target="_blank">Hours of F.REE Training Videos of the actual Course Content HERE</a>.]</p>
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Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.), Real-Life Case Studies, Role-Playing, Members-Only Forum, and &#8216;HOT SEATS&#8217; to get coaching on Your Deals/Business Challenges, and more</p>
<p>* Questions? Chances are I already answered them at www.NoteBuyingProfits.com/blog. (Use the &#8216;Search&#8217; feature or click on the &#8216;FAQ&#8217; category on the right to see them all!)</p>
<p>=================================</p>
<br/><br/>]]></content:encoded>
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		<title>Raising Money to buy Defaulted Mortgages. Some Raising Money Insights&#8230;</title>
		<link>http://www.notebuyingprofits.com/blog/178/raising-money-to-buy-defaulted-mortgages-some-raising-money-insights/</link>
		<comments>http://www.notebuyingprofits.com/blog/178/raising-money-to-buy-defaulted-mortgages-some-raising-money-insights/#comments</comments>
		<pubDate>Wed, 29 Oct 2008 18:14:16 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Financing]]></category>
		<category><![CDATA[Note Buying 101]]></category>
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		<category><![CDATA[how to raise money to buy notes]]></category>
		<category><![CDATA[investing in defaulted mortgages]]></category>
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		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=178</guid>
		<description><![CDATA[Raising money to buy notes aka defaulted mortgages aka nonperforming notes is obviously an important part of the note buyer&#8217;s business (not necessary for brokers, however).
Here is an email I recently got from someone who&#8217;s landed a few meetings with some venture capital funds (kudos to him &#8211; there is a TON of interest in [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Raising money to buy notes aka defaulted mortgages aka nonperforming notes</strong> is obviously an important part of the note buyer&#8217;s business (not necessary for brokers, however).</p>
<p>Here is an email I recently got from someone who&#8217;s landed a few meetings with some venture capital funds (kudos to him &#8211; there is a TON of interest in distressed debt funds right now!) on &#8216;how to raise money to buy notes/defaulted mortgages&#8217;:</p>
<p>&#8220;Dean, I watched the 84 minute video on <a href="http://www.notebuyingprofits.com/how-to-raise-money-toolkits.html" target="_blank">raising money to buy notes</a> and it was impressive. To me it seemed like you were modeling your current portfolio to prospective investors for funding.</p>
<p><strong>My question now is:</strong> how can someone who has not bough his first not yet make use of the <a href="http://www.notebuyingprofits.com/how-to-raise-money-toolkit-platinum.html" target="_blank">platinum raising money</a> toolkit in order to present himself to prospective funding investors?<br />
It&#8217;s a little confusing because a newbie will not have a done deal to show the investors.&#8221;</p>
<p><strong>Here is my reply:</strong></p>
<p>Owen,</p>
<p>Here&#8217;s my recommendation: the best way that I&#8217;ve found to demonstrate competence and understanding to venture funds is as follows:</p>
<p>a) walk them through the <a href="http://www.notebuyingprofits.com/how-to-raise-money-toolkit-basic.html">Basic How to Raise Money</a> single page excel file with the 2 example deals &#8211; it&#8217;s easy to understand, easy to walk through, speaks to their need to understand yields in terms of return percentages and profits. (BTW, it&#8217;s included as a BONUS in the &#8216;A-Z <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">Profiting from Defaulted Mortgages</a> Business-in-a-Box&#8217; Course!)</p>
<p>Keep in mind the following: I&#8217;ve had 2 investors in Oklahoma tell me that they used the Platinum Toolkit IN COMBINATION with the Basic Toolkit exactly as I&#8217;ve suggested here. <strong>They had NEVER bought a note or defaulted mortgage before</strong> and they used the Basic as an example of what they could do. &#8220;It opened doors to at least 6 different investors for us,&#8221; they told me.</p>
<p>b) After you&#8217;ve done that, then walk them through an OVERVIEW of the entire business &#8211; e.g. the Powerpoint presentation from the <a href="http://www.notebuyingprofits.com/how-to-raise-money-toolkit-advanced.html">Advanced How-to-Raise-Money</a> Toolkit &#8211; that you customize in order to define who your team is, what you see the current opportunity to be, and what your summary financials are.</p>
<p>c) then, when you get to the summary financials page, you turn to the <a href="http://www.notebuyingprofits.com/how-to-raise-money-toolkit-platinum.html">Platinum How-to-Raise-Money</a> Toolkit to give them a drilldown on the P&amp;L, Balance Sheet and the Roll Rate Model for how YOU will be running your distressed debt fund with THEIR money &#8211; e.g. the Platinum Toolkit. It&#8217;s customizable, so what&#8217;s nice about it is that you can model it to YOUR needs (e.g. you want to present a $5million investment from the investor, rather than a $27million one, or you want to add or subtract employees based on how big or small you expect you&#8217;ll need to be, or your assumptions about what you&#8217;re buying don&#8217;t really include foreclosed on notes, but mostly delinquent notes, etc.)</p>
<p>Let me clarify something here &#8211; the Platinum Toolkit is a sophisticated model, yes. But what&#8217;s sophisticated is that it&#8217;s all been built already. Now you just need to customize it to the size you want it to be. It&#8217;s NOT that hard to do, and the beauty is that it&#8217;s all interlinked and it runs itself.</p>
<p>In terms of getting ready for this presentation (congratulations, by the way, no one will give you the time of day unless they believe in what YOU can bring them, so just getting a meeting scheduled is a very big step &#8211; GO FOR IT!), you&#8217;ll want someone on your team (you or someone else), who understands Excel well, in order to run through the financials with you and customize the Platinum Toolkit to your needs.</p>
<p>The reason for our hesitation in terms of doing customization of any models for you is that it&#8217;s in doing that YOURSELF that you REALLY understand how it works, and how your BUSINESS is &#8211; or needs to be &#8211; structured. It&#8217;s not that we don&#8217;t want to help you to get the Financial Model exactly to the way you need it (and that we wouldn&#8217;t want to charge you the hourly <a href="http://www.notebuyingprofits.com/how-to-buy-defaulted-mortgages-coaching.html">$495/hour consulting fees</a> that I charge now!) but in order to demonstrate competency and understanding to your venture funders, YOU really need to get inside this model. If they feel that you&#8217;re not comfortable &#8211; REALLY COMFORTABLE &#8211; with your own numbers and your own financials, you will not inspire their confidence and trust.</p>
<p>That being said -<strong> the Financial Model in the Platinum toolkit has been used for $6million and $30million presentations to GREAT effect.</strong> It is simple, it is complete and it is TOTALLY geared towards a note-buying business.</p>
<p>You should take a look at the new 35-min FREE Video on <a href="http://notebuyingprofits.com.s3.amazonaws.com/toolkits/raisingmoney/investor-toolkit-platinum35minIntroswfsef800lspl2/investor-toolkit-platinum35minIntroswfsef800lspl2.htm" target="_blank">how-to-raise-money</a> that I did to walk you through each of the different component parts of the Platinum toolkit &#8211; it&#8217;s a 35-minute overview of the model itself that I think you&#8217;ll find really helpful.</p>
<p>If you get into it, learn it, study it, and customize it over the next two weeks, you will have a MUCH better shot at securing financing than if you don&#8217;t.</p>
<p>Be your success.</p>
<p>Dean</p>
<p>=================================</p>
<p>* Check out our NEW FORUM: www.NoteBuyingProfits.com/forum</p>
<p>* Ready to REALLY get down &amp; dirty?<br />
‘<a href="http://www.notebuyingprofits.com/preorder.html">A-Z Profiting from Discounted Mortgages Business-in-a-Box</a>‘.<br />
-&gt; 16 hours+ of Video Training, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf">23 pages of checklists</a>, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Sample.pdf">a complete 8-Week Roadmap</a>, an <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/AZtableofcontents.pdf">extensive Table of Contents</a> for quick reference, plus TONS of Bonuses.<br />
[===&gt; You can check out <a href="http://www.notebuyingprofits.com/freenotebuyingresources.html">Hours of F.REE Training Videos of the actual Course Content HERE</a>.]</p>
<p>* <a href="http://www.notebuyingprofits.com/privateaccessclub.html">‘PRIVATE ACCESS CLUB’ (PAC) &#8211; Test-Drive it for F.REE for 30 Days!</a><br />
Get Your Questions Answered LIVE &amp; get Ongoing Support &amp; Training!<br />
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</p>
<br/><br/>]]></content:encoded>
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		<title>How to buy Defaulted Mortgages: (Don&#8217;t cut Corners when Buying Notes)</title>
		<link>http://www.notebuyingprofits.com/blog/180/how-to-buy-defaulted-mortgages-moochfest-dont-cut-corners-when-buying-notes/</link>
		<comments>http://www.notebuyingprofits.com/blog/180/how-to-buy-defaulted-mortgages-moochfest-dont-cut-corners-when-buying-notes/#comments</comments>
		<pubDate>Fri, 24 Oct 2008 22:26:44 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Doc download]]></category>
		<category><![CDATA[Newbie Topic]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[Bank Relationships]]></category>
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		<category><![CDATA[defaulted mortgages]]></category>
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		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=180</guid>
		<description><![CDATA[How to buy Defaulted Mortgages: Here&#8217;s a little how-to-buy-defaulted-mortgages story for you:
There&#8217;s an old Romanian saying: &#8220;Only the foolish learn from experience &#8211; the wise learn from the experience of others.&#8221; 
It&#8217;s appropriate because it shows how one of my brightest aspiring note buying investors in our Private Access Club right now, let&#8217;s call him &#8220;John&#8221;, could use a [...]]]></description>
			<content:encoded><![CDATA[<p><strong>How to buy Defaulted Mortgages</strong>: Here&#8217;s a little how-to-buy-defaulted-mortgages story for you:</p>
<p>There&#8217;s an old Romanian saying: &#8220;<strong>Only the foolish learn from experience &#8211; the wise learn from the experience of others</strong>.&#8221; </p>
<p>It&#8217;s appropriate because it shows how one of my brightest aspiring note buying investors in our <a href="http://www.notebuyingprofits.com/privateaccessclub.html">Private Access Club</a> right now, let&#8217;s call him &#8220;John&#8221;, could use a little of that Romanian wisdom.</p>
<p>The reason I&#8217;m sharing this with you is so that you don&#8217;t make the same mistakes when learning to buy defaulted mortgages that he&#8217;s making.</p>
<p>[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.]</p>
<p>John (not his real name) is one of the most dedicated to all of our content &#8211; he&#8217;s in the <a href="http://www.notebuyingprofits.com/privateaccessclub.html">Private Access Club </a>every week, he asks questions, and he&#8217;s just received his first data tape, and he&#8217;ll probably be buying his first note soon.</p>
<p>But he&#8217;s completely missing the point that the old Romanians would chide him for: <strong>he&#8217;s not using &#8220;the experience of others.&#8221;</strong></p>
<p>What do I mean?</p>
<p>Yesterday, John sent me a pool of defaulted mortgages that he&#8217;s brokering to me (you always have that option, by the way &#8211; the agreement that we&#8217;ll sign between us and that will protect your relationships that you bring me, is right <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/Sample-Broker-Contract-PTI.doc">HERE</a> &#8211; beware of other note buyers out there promising you commissions and essentially wanting to &#8220;steal&#8221; your bank relationships).</p>
<p>And he writes to me: &#8220;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.&#8221;</p>
<p>Here&#8217;s what I wrote back to him:<br />
___________________________</p>
<p>John,</p>
<p>We&#8217;ll move forward with this pool &#8211; but here&#8217;s something I want you to think about.</p>
<p>I&#8217;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 &#8211; he said he&#8217;s gone through Steps 2-4 of the A-Z Profiting from Defaulted Mortgages Business-in-a-Box <a href="http://www.notebuyingprofits.com/preorder.html">Note Buying Course</a> exactly THREE TIMES now in order to prep himself to talk to banks, and to demonstrate that he knows what he&#8217;s talking about so that he can talk about the exit strategies, negotiate a close with the bank, and price his nonperforming notes right.</p>
<p>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&#8217;ll be sharing with him, and what some of the basics of a bid are.</p>
<p>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.</p>
<p>This isn&#8217;t a sales pitch &#8211; it&#8217;s an invitation to <strong>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.</strong></p>
<p>And, here&#8217;s the most important part &#8211; to make the best use of the time that you and I have together on this bid (and others).</p>
<p>What do I mean?</p>
<p>If you get the basics out of the way and study the A-Z 16-hour <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">How-to-Buy-Defaulted Mortgages Course</a>, you&#8217;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&#8217;t seen the entire note buying process in action.</p>
<p>Vic&#8217;s no dummy &#8211; there&#8217;s no way that he would spend that much time (36 hours!) reviewing and reviewing content that I&#8217;ve created if he didn&#8217;t think that it could help him. And look where he is &#8211; on his own, negotiating with banks directly and getting defaulted mortgages pools.</p>
<p>I would never, ever, in a million years, have spent sooooo much time putting this 16-hour Note Buying course together if I didn&#8217;t believe 200% that it would really inform and help the people who took it, to launch their business, like Vic&#8217;s doing. </p>
<p>So now, when you come to me with a note pool that you&#8217;ve worked I&#8217;m sure very hard to be able to receive, I&#8217;m more than willing to spend some time going through this to bid on it ourselves.</p>
<p>But here you are asking me how you can learn from me and you haven&#8217;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&#8217;ve created) putting together something that is EXACTLY intended to be able to teach someone like you what this defaulted mortgages business is like!</p>
<p>And you don&#8217;t even do me the courtesy of accepting that I&#8217;ve created this specifically for what you&#8217;re asking me.</p>
<p>It&#8217;s as if you&#8217;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 &#8211; &#8220;well, this is what I&#8217;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&#8221; &#8211; you say &#8220;yeah, yeah, what else?&#8221;</p>
<p>Don&#8217;t shortcut your own launch speed to arrive at buying defaulted mortgages.</p>
<p>You&#8217;ll end up firing on 2 cylinders instead of 4.</p>
<p>I can tell you&#8217;re hungry and want to learn, but I&#8217;m totally lost as to why the A-Z <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">How-to-Buy-Defaulted Mortgages</a> Course doesn&#8217;t make any sense for you. It&#8217;s the most systematic, content-rich, case-study loaded defaulted mortgages and note buying training that anyone will ever give you in this field.</p>
<p>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&#8217;t have to take the time to explain any of that, and you can really jump start your new note buying/brokering business.</p>
<p>Dean<br />
__________________</p>
<p>Back to my post to you here:</p>
<p><strong>Here&#8217;s my point: if you can learn from someone else&#8217;s experience, DO IT.</strong></p>
<p>It&#8217;ll save you time, money, and energy.</p>
<p>In this case, I&#8217;m inviting you to learn from my own experience in order to launch your how-to-buy-defaulted mortgages business. That&#8217;s what the 16 hour+ <a href="http://www.notebuyingprofits.com/preorder.html">Note Buying course</a> is, really, it&#8217;s an opportunity to leapfrog a number of tedious steps as you get started.</p>
<p>You&#8217;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.</p>
<p>Be your success.</p>
<p>Dean</p>
<p>=================================</p>
<p>* Check out our NEW FORUM: www.NoteBuyingProfits.com/forum</p>
<p>* Ready to REALLY get down &amp; dirty?<br />
&#8216;<a href="http://www.notebuyingprofits.com/preorder.html">A-Z Profiting from Discounted Mortgages Business-in-a-Box</a>&#8216;.<br />
-&gt; 16 hours+ of Video Training, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf">23 pages of checklists</a>, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Sample.pdf">a complete 8-Week Roadmap</a>, an <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/AZtableofcontents.pdf">extensive Table of Contents</a> for quick reference, plus TONS of Bonuses.<br />
[===&gt; You can check out <a href="http://www.notebuyingprofits.com/freenotebuyingresources.html">Hours of F.REE Training Videos of the actual Course Content HERE</a>.]</p>
<p>* <a href="http://www.notebuyingprofits.com/privateaccessclub.html">&#8216;PRIVATE ACCESS CLUB&#8217; (PAC) &#8211; Test-Drive it for F.REE for 30 Days!</a><br />
Get Your Questions Answered LIVE &amp; get Ongoing Support &amp; Training!<br />
Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.), Real-Life Case Studies, Role-Playing, Members-Only Forum, and &#8216;HOT SEATS&#8217; to get coaching on Your Deals/Business Challenges, and more</p>
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		<title>How to buy Defaulted Mortgages: A great Note Buying Tool (MS Live)</title>
		<link>http://www.notebuyingprofits.com/blog/152/how-to-buy-defaulted-mortgages-a-great-note-buying-tool-ms-live/</link>
		<comments>http://www.notebuyingprofits.com/blog/152/how-to-buy-defaulted-mortgages-a-great-note-buying-tool-ms-live/#comments</comments>
		<pubDate>Mon, 20 Oct 2008 02:45:24 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Pricing]]></category>
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		<category><![CDATA[buying defaulted mortgages]]></category>
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		<category><![CDATA[Dean]]></category>
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		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=152</guid>
		<description><![CDATA[Make sure you watch the 7-min How-to-Buy-Defaulted-Mortgages Video below!
It&#8217;s a bird, it&#8217;s a plane, it&#8217;s &#8230; Live.
Huh?
It&#8217;s Microsoft Live, which, for those of you who have not used it in your how-to-buy-defaulted-mortgages research of &#8216;looking&#8217; at the properties you are buying notes on, you should.
It is fantastic.
What am I talking about? I&#8217;m talking about doing [...]]]></description>
			<content:encoded><![CDATA[<p>Make sure you watch the <strong>7-min How-to-Buy-Defaulted-Mortgages Video</strong> <strong>below</strong>!</p>
<p>It&#8217;s a bird, it&#8217;s a plane, it&#8217;s &#8230; Live.</p>
<p>Huh?</p>
<p>It&#8217;s Microsoft Live, which, for those of you who have not used it in your how-to-buy-defaulted-mortgages research of &#8216;looking&#8217; at the properties you are buying notes on, you should.</p>
<p>It is fantastic.</p>
<p>What am I talking about? I&#8217;m talking about doing due diligence on your non-performing notes, and using the best tools out there when buying defaulted loans.</p>
<p>Microsoft Live is one of those.</p>
<p>If you want to jumpstart your due diligence on how to buy defaulted mortgages, and to give you an edge on anyone else out there (and for some comparison testing with Google Earth for you die-hard Google fans out there), you will definitely want to take a look at this <strong>7-minute note buying video clip</strong> I&#8217;ve put together for you below.</p>
<p>For more where that came from, make sure you soak up the entire hour I spend on &#8216;What&#8217;s Your LTV&#8217;.</p>
<p>Yes, you can watch that <a href="http://www.notebuyingprofits.com/how-to-price-defaulted-mortgages.html">Note Buying Video</a> on how to determine your LTV (Loan-to-Value) when buying defaulted mortgages aka nonperforming notes for ZIPPO as well.</p>
<p>Talk soon,</p>
<p>Dean</p>
<p>PS: Here is the How-to-Buy-Defaulted-Mortgages Video I promised you:<br />
<br />
<center></p>
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		<title>Note Buying &#8211; This Beats Wall Street and Main Street &#8211; Hands down</title>
		<link>http://www.notebuyingprofits.com/blog/145/note-buying-this-beats-wall-street-and-main-street-hands-down/</link>
		<comments>http://www.notebuyingprofits.com/blog/145/note-buying-this-beats-wall-street-and-main-street-hands-down/#comments</comments>
		<pubDate>Sun, 12 Oct 2008 22:53:13 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[FAQ]]></category>
		<category><![CDATA[Blank Check]]></category>
		<category><![CDATA[buying nonperforming notes]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[Clue]]></category>
		<category><![CDATA[Collateral Value]]></category>
		<category><![CDATA[Decline]]></category>
		<category><![CDATA[Defaulted Mortgags]]></category>
		<category><![CDATA[Distressed Debt Investors]]></category>
		<category><![CDATA[Doomsday]]></category>
		<category><![CDATA[Fed Tax]]></category>
		<category><![CDATA[Futures]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[how to buy nonperforming notes]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[Hypothesis]]></category>
		<category><![CDATA[Interesting Times]]></category>
		<category><![CDATA[investing in defaulted mortgages]]></category>
		<category><![CDATA[investing in notes]]></category>
		<category><![CDATA[Loan Portfolios]]></category>
		<category><![CDATA[National Debt]]></category>
		<category><![CDATA[non-performing notes]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[Oaktree]]></category>
		<category><![CDATA[Peek]]></category>
		<category><![CDATA[Premise]]></category>
		<category><![CDATA[Safe Harbor]]></category>
		<category><![CDATA[Wachovia]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Wamu]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=145</guid>
		<description><![CDATA[Note Buying aka Buying Defaulted Mortgages: This Beats Wall Street and Main Street &#8211; Hands down&#8230;
This is a long post about &#8220;safety&#8221; in a tumultuous market,  and about the unique opportunity we face as buyers of &#8220;distressed debt&#8221;.
And the premise I&#8217;m going to tackle is counter-intuitive, but very  powerful. Do not underestimate the [...]]]></description>
			<content:encoded><![CDATA[<div class="postbody"><strong>Note Buying aka Buying Defaulted Mortgages: This Beats Wall Street and Main Street &#8211; Hands down&#8230;</strong></div>
<div class="postbody">This is a long post about &#8220;safety&#8221; in a tumultuous market,  and about the unique opportunity we face as buyers of &#8220;distressed debt&#8221;.</p>
<p>And the premise I&#8217;m going to tackle is counter-intuitive, but very  powerful. Do not underestimate the point I&#8217;m about to make. Acknowledge this,  preach this, and you are bound to succeed. The evidence supporting the argument  I make is all around you. You just have to see it for what it is: a blank check  to back your non-performing note venture, big or small.<br />
<strong><br />
Hypothesis: a  &#8220;Safe Harbor Fund&#8221; that invested purely in non-performing notes, is &#8220;safer&#8221; than  any investment you can find on Wall Street or Main Street.</strong></p>
<p>Interesting  times. The common expression we share in the industry is to &#8220;keep your powder  dry&#8221;, meaning make sure you have capital to play with because there are good  days a&#8217;comin&#8217;. Even better than there are today.</p>
<p>A couple of  observations, to put this into perspective (I&#8217;m going to show my true bearish  colors here, and give you a peek into why my friends nickname me &#8220;Doomsday  Dean&#8221;.)</p>
<p>A historic day &#8211; Treasury bumps our  national debt over the $10T mark, the dollar will continue to weaken as fed tax  rolls continue to soften.</p>
<p>Home prices dropped at a fast clip from June  to July &#8211; dropping 1.1% across 10 key cities, according to S&amp;P data (little  clue on futures pricing here &#8211; min. of 1% decline in your collateral value each  month, so if you&#8217;re estimating to hold for half a year, price in a 6% or greater  value drop). Remember this number &#8211; it&#8217;ll come in handy again way down below.</p>
<p>WaMu and Wachovia will soon bring some large whole loan portfolios to  the market, despite WaMu assuring us that they will begin to act as distressed  debt investors and actively work their book. That will filter down to all levels  of the 2ary market.</p>
<p>Large funds are being raised (Blackrock-$3B,  Oaktree-$10B!, the list is long and growing) to buy whole loans as well as any  three-lettered mortgage derivative that investment bankers swamped the markets  with over the last 5 years.</p>
<p><strong>The opportunity? It&#8217;s going to be a buyer&#8217;s  market. </strong></p>
<p>Listen to Paul over at HousingWire the other day: &#8220;Some sources,  as a result, expected that the Treasury proposal could end up being a boon for  distressed mortgages. &#8216;They’ll find out they need to churn and burn whatever  they buy,&#8217; one source suggested. &#8216;That could mean the market for whole loans  will really start moving, with the pricing hurdles removed.&#8217;&#8221;</p>
<p>The key to  remember is that there are 3 ways to win in this game: a) have cheaper capital  than anyone else; b) have better operations than anyone else; c) flip the toxic  assets quicker and better than anyone else.</p>
<p>These funds don&#8217;t  necessarily have (a), and they certainly don&#8217;t have (b). That leaves (c).</p>
<p>So the chesspieces shift from the banks to the funds. So what? They&#8217;ll  still sell. And chances are they won&#8217;t know what their assets are worth any  better than the banks or their servicers did, they&#8217;ll just have a much lower  basis.</p>
<p><strong>See, the equation looked like: </strong></p>
<p>Bank&#8217;s  non-performing notes: bank would like to get 55% of face value.<br />
Investor&#8217;s  price offered for said notes: 40% of face value.<br />
Selling price of notes:  55%.<br />
Stuck. No trade.</p>
<p><strong>And the equation now: </strong></p>
<p>Bank&#8217;s non-performing notes: bank would  like to get 55% of face value.<br />
Investor&#8217;s price offered for said notes: 40%  of face value.<br />
Government&#8217;s bailout premium: 10%<br />
Government&#8217;s bailout  cost:  tough-to-quantify-but-these-warrants-don&#8217;t-make-sense-and-Treasury-isn&#8217;t-moving-fast-enough-and-these-private-funds-don&#8217;t-ask-half-as-many-questions<br />
Bank&#8217;s  decision: 50% chance of selling to Investor, 50% chance of selling to  Government</p>
<p>If Bank sells to Investor at 40%<br />
Investor can resell for  50% and make a 25% rate of return (ROI, not IRR)<br />
Selling price of notes to  you and me: 50%.<br />
Trades galore.</p>
<p>Investor can resell for 45% and make  a 12.5% rate of return (ROI, not IRR)<br />
Selling price of notes to you and me:  45%.<br />
Trades all over the place.</p>
<p>So you and I should be backing both  the Republicans AND the Democrats on the Hill right now. The Republican  monkey-wrenchers are actually trying to lob in insurance premiums that would  guarantee to push sellers into the private markets. And the Democrats are all  about convertible warrants, executive pay and the like, also pushing sellers  into the private markets.</p>
<p><strong>Either way, there will be tons of notes going  around. Today&#8217;s volumes will be dwarfed by comparison.</strong></p>
<p>Take your savings  out of your risky bank institutions and stick them under the mattress. Don&#8217;t be  tempted by FDIC bumping up insurance to $250K. You&#8217;re still going to get sub 4%  yields on your money (my favorite is ING Direct &#8211; offering 4.50% on 24-month  CD&#8217;s right now. Get it while it lasts).</p>
<p>So, given comparable savings  rates, why not pay par for a non-performing 1st mortgage if you can get it at a  50% LTV? As long as it&#8217;s accruing at a better than 4% rate, what do you care? As  long as you feel the house value&#8217;s not going to drop in half (doubtful anywhere  in the country, even by Doomsday Dean standards), you&#8217;re still ahead of the game  in terms of your bond/index/equity or CD returns.</p>
<p>Oh, and instead of  relying on some government institution like the FDIC (only $45B left in the  kitty, and that&#8217;s with &#8220;only&#8221; 13 institutions that have failed &#8211; there will be  plenty more &#8211; and Sheila Bair, FDIC Chairman admitted last month that she might  have to tap into Treasury for short-term borrowing needs) to insure your funds,  you can have a fully insured (force fire insurance on the property you&#8217;re  lending on and charge it to the borrower) and safely interest-bearing loan.</p>
<p>One of the logical plays in this market would be to raise a &#8220;Safe Harbor  Fund&#8221;. Acquisition parameters: any non-performing notes at a max 45% LTV on  current value, minimum note rate of 8.5%. Almost doesn&#8217;t matter what the  discount is on UPB. I&#8217;d just focus on being a contrarian &#8211; paying up to 90% on  ANY note that is at a 50% LTV on value. Everyone would hit your bid.</p>
<p>Raise capital at 7% (the key, of course) from everyone who&#8217;s terrified  of the next bank failure. Marketing this puppy is the genius that I leave to  those of you with the brains, chutzpah and creative flair.</p>
<p>But the  concept is &#8211; compare risks from investing in almost every &#8220;safe&#8221; instrument out  there &#8230;<br />
-Treasuries (listen to the gnawing and growing fear of a US default  on its debt &#8211; never hit $10T before, and last time I checked, fed revenues were  down across the board &#8211; at every level of national, state and municipal  government in this country, budgets are tight, losing their balance and losing  steam as unemployment continues to drive lowering sales tax and income tax  revenues, and boosts unemployment and other social spending expenses)<br />
-Money  markets (bust-the-buck Reserve Money Market fund, anyone?)<br />
-Auction rate  securities (Goldman and UBS) &#8211; &#8220;safe as cash!&#8221;<br />
-Bank savings accounts (hello  Indymac)<br />
-your mattress (nah, your neighbor will eventually find  out)</p>
<p>&#8230; and compare those &#8220;potential&#8221; risks (noone really knows what the  &#8220;actual&#8221; risk is) to holding a non-performing note.</p>
<p>What do you care if  the borrower pays or not? Eventually you can reclaim the house. And as long as  the value doesn&#8217;t drop far enough to threaten your investment (at a 45% LTV,  even Doomsday-boy is fine with that), your investment accrues, and isn&#8217;t going  anywhere. Assuming that rate of a 1% drop per month that I mentioned at the  beginning of this post &#8211; that would mean that you&#8217;d start &#8220;risking&#8221; your  investment in about 55 months, or just under 6 years. Obviously that&#8217;s where the  magic and fortune-telling come into this business. Not even the bear of the  bears Nouriel Roubini himself is predicting a further 50% drop in values,  however. You have to get somewhat &#8220;real&#8221; here.</p>
<p><strong>A little story. </strong></p>
<p>One of my investors emailed me a few days ago and said: &#8220;Dean, give me  some counsel &#8230;. I&#8217;m maxed out against the FDIC insurance limit of $100,000  across a number of accounts. What should I do?&#8221; Well, he opened up EIGHT new  accounts just to get the $100K insurance coverage as many different ways as he  could, and he still had several few million that he wanted &#8220;protected&#8221;.</p>
<p>I told him about the Safe Harbor Fund, and his words were: &#8220;It&#8217;s a hell  of a lot better than whatever unknown risk I run at Fremont Bank.&#8221;</p>
<p>Risk  is &#8220;uncertainty&#8221;.</p>
<p>Almost across the board, most financial institutions  face an &#8220;uncertain&#8221; future because of the &#8220;risk&#8221; of their mortgage and lending  portfolios getting worse than they already are.</p>
<p><strong>Buying &#8220;uncertain&#8221;  assets &#8211; e.g. non-performing mortgages &#8211; takes out almost all that risk. </strong></p>
<p>What the heck am I talking about?!</p>
<p>Well, look at it this way.  The real reason banks aren&#8217;t lending to one another, and why inter-bank lending  rates are so high right now, is that noone really knows whether their  counterparty (the guys asking to borrow money from them) will be around tomorrow  to pay them back on the loan.</p>
<p>Well when I&#8217;m buying non-performing notes,  guess what? I have ABSOLUTELY NO UNCERTAINTY about whether my borrower&#8217;s going  to pay me back on my &#8220;loan&#8221; to them. It&#8217;s a 100% default risk. Therefore there&#8217;s  no uncertainty about that.</p>
<p>The only &#8220;uncertainty&#8221; when you&#8217;re buying  non-performing notes is whether the house (collateral) will continue to support  the value of your investment (e.g. will it be worth more than what you paid for  the note, therefore making a worst-case scenario of my having to take over the  property to pay back my loan, still allow me to come out ahead of the game).</p>
<p><strong>Conclusion: a Safe Harbor Fund investing purely in non-performing notes,  is &#8220;safer&#8221; than any investment you can find on Wall Street or Main  Street.</strong></p>
<p>You choose.</p>
<p>Whether you agree or not doesn&#8217;t really  matter. What matters is that you look at what the &#8220;risk&#8221; and the &#8220;uncertainty&#8221;  is in investing in non-performing notes, and compare that to the risks and  uncertainties of practically every other instrument out there.</p>
<p>The less  you think about this as a real estate investment play, and more as a  survive-and-thrive-in-this-market-chaos play, and tell all your friends and  relatives and colleagues and neighbors about it, the more you will succeed in  raising capital to be a player in what is &#8211; and will continue &#8211; to be an  historic and momentous time to be investing in distressed debt.</p></div>
<div class="postbody">If you are ready to get serious about Buying Notes, check out my <a href="http://www.notebuyingprofits.com/preorder.html"><strong>16-hour+ &#8216;A-Z Profiting from Discounted Mortgages Business-in-a-Box&#8217; Course</strong></a>.</div>
<p><span class="postbody">Be your success.<br />
</span></p>
<p><span class="postbody">Dean</span></p>



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		<title>Buying Defaulted Mortgages aka Notes: Polite Persistence/Follow-up is Key&#8230;</title>
		<link>http://www.notebuyingprofits.com/blog/124/buying-defaulted-mortgages-aka-notes-polite-persistencefollow-up-is-key/</link>
		<comments>http://www.notebuyingprofits.com/blog/124/buying-defaulted-mortgages-aka-notes-polite-persistencefollow-up-is-key/#comments</comments>
		<pubDate>Mon, 06 Oct 2008 15:27:08 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Finding]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[Amp]]></category>
		<category><![CDATA[Array]]></category>
		<category><![CDATA[Bank Relationship]]></category>
		<category><![CDATA[buying defaulted mortgages]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[Critique]]></category>
		<category><![CDATA[defaulted mortgages]]></category>
		<category><![CDATA[Excuse]]></category>
		<category><![CDATA[Floor Windows]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[Imagine]]></category>
		<category><![CDATA[Managing Staff]]></category>
		<category><![CDATA[Mantra]]></category>
		<category><![CDATA[Mortgages]]></category>
		<category><![CDATA[nonperforming notes]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[Pac Members]]></category>
		<category><![CDATA[Persistence]]></category>
		<category><![CDATA[Pools]]></category>
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		<category><![CDATA[real estate notes]]></category>
		<category><![CDATA[Sessions]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=124</guid>
		<description><![CDATA[Make sure to watch the brief 3-minute Video on Finding Notes aka Defaulted Mortgages BELOW!
OK, so I&#8217;m a victim of my own critique.
I admit it. I failed.
These past three weeks, I&#8217;ve put in bids on note pools and never even followed up. &#8220;I&#8217;m so busy that I&#8217;m just working too much,&#8221; is always my excuse.
Managing [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Make sure to watch the brief 3-minute Video on Finding Notes aka Defaulted Mortgages BELOW!</strong></p>
<p>OK, so I&#8217;m a victim of my own critique.</p>
<p>I admit it. I failed.</p>
<p>These past three weeks, I&#8217;ve put in bids on note pools and never even followed up. &#8220;I&#8217;m so busy that I&#8217;m just working too much,&#8221; is always my excuse.</p>
<p>Managing staff, reviewing new offers, handling tricky borrower calls where needed, reviewing financials for the fund, lining up Q&amp;A sessions with the best people I can find in the note world, answering the never-ending questions from PAC members etc. etc.</p>
<p>So what happened?</p>
<p>Well, the basic rule of &#8220;polite persistence&#8221; &#8211; the process of following up and following up and following up with a new bank relationship in order to build it to the point where it takes off &#8230; just went out the window.</p>
<p>My mantra (to me AND to you) for today is &#8230; <strong>KEEP AT IT.</strong> (By the way,<strong> I prepared a short 3-minute VIDEO for you on this topic </strong>- SEE BELOW &#8211; which comes straight out of my <a href="http://notebuyingprofits.com/preorder.html"><strong>16-hour &#8216;A-Z Profiting from Defaulted Mortgages Business-in-a-Box&#8217; Course</strong></a>!)<strong> </strong></p>
<p><strong>If you want to open a door to a bank, you have to learn how to knock.<br />
If you want to open a door to a bank, you have to learn how to knock.<br />
If you want to open a door to a bank, you have to learn how to knock.<br />
</strong></p>
<p>Imagine you&#8217;ve just arrived at a huge castle. And you see some lights on in an upper floor window.</p>
<p>You knock once.</p>
<p>No answer.</p>
<p>You knock again.</p>
<p>No answer.</p>
<p>You knock louder this time.</p>
<p>Still no answer.</p>
<p>&#8220;Do I just leave?&#8221; you wonder out loud.</p>
<p>No &#8230; you see the light on and you hear sounds of pots and pans coming from another window.</p>
<p>So you bang on the door.</p>
<p>And you bang some more.</p>
<p>And you throw a pebble at one of the upper floor windows to catch someone&#8217;s attention.</p>
<p>You KNOW there are people inside and you&#8217;re just DYING to get in.</p>
<p>WAIT.</p>
<p>You hear noises. A door opening and closing.</p>
<p>Someone finally heard you!</p>
<p>But now what?</p>
<p>What do you say when the butler shows up at the door? &#8220;What took you so long?!&#8221;</p>
<p>Of course not.</p>
<p>Instead, you answer politely: &#8220;Good evening, I was wondering if I could &#8230;&#8221;.</p>
<p>OK &#8211; so enough with the story and back to <strong>polite persistence</strong> here..</p>
<p>Think of the castle as the bank.</p>
<p>You KNOW there is someone inside who can help you.</p>
<p>But you don&#8217;t get through just on one knock.</p>
<p>So keep knocking.</p>
<p>And then think of different ways to knock.</p>
<p>As long as you THINK there is someone in there, keep at it.</p>
<p>What have you got to lose?</p>
<p>Nothing less than a potential <strong>relationship that could bring you lead after LEAD AFTER LEAD.</strong></p>
<p>Dean<br />
<br />
<center></p>
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		<title>Buying Defaulted Mortgages aka Notes &#8211; Where will YOU be 8 Weeks from today?</title>
		<link>http://www.notebuyingprofits.com/blog/114/buying-defaulted-mortgages-aka-notes-where-will-youl-be-8-weeks-from-today/</link>
		<comments>http://www.notebuyingprofits.com/blog/114/buying-defaulted-mortgages-aka-notes-where-will-youl-be-8-weeks-from-today/#comments</comments>
		<pubDate>Sun, 05 Oct 2008 13:47:29 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Newbie Topic]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[Bailout]]></category>
		<category><![CDATA[Banks]]></category>
		<category><![CDATA[Buying Business]]></category>
		<category><![CDATA[buying defaulted mortgages]]></category>
		<category><![CDATA[buying nonperforming notes]]></category>
		<category><![CDATA[Checklists]]></category>
		<category><![CDATA[Christmas]]></category>
		<category><![CDATA[defaulted mortgages]]></category>
		<category><![CDATA[Doors]]></category>
		<category><![CDATA[Estate Dreams]]></category>
		<category><![CDATA[Fears]]></category>
		<category><![CDATA[Holiday Shopping]]></category>
		<category><![CDATA[Holidays]]></category>
		<category><![CDATA[Horizon]]></category>
		<category><![CDATA[How Much Money]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[investing in defaulted mortgages]]></category>
		<category><![CDATA[investing in nonperforming notes]]></category>
		<category><![CDATA[investing in notes]]></category>
		<category><![CDATA[Mortgages]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Roadmap]]></category>
		<category><![CDATA[Toolkits]]></category>
		<category><![CDATA[Treasury]]></category>
		<category><![CDATA[Turmoil]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=114</guid>
		<description><![CDATA[Check out this FREE VIDEO to see what can happen to Your Note Buying aka Buying Defaulted Mortgages Business in 8 short weeks&#8230;
Imagine yourself 8 weeks from today.
The holiday shopping season begins. The financial world will still be reeling &#8211; and in the early days of digesting some of the bailout funds that Treasury will [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://notebuyingprofits.com.s3.amazonaws.com/pac/videos/092408PACwebinarBailoutplusRoadmap90minswfsef800toc/092408PACwebinarBailoutplusRoadmap90minswfsef800toc.htm" target="_blank"><strong>Check out this FREE VIDEO to see what can happen to Your Note Buying aka Buying Defaulted Mortgages Business in 8 short weeks&#8230;</strong></a></p>
<p>Imagine yourself 8 weeks from today.</p>
<p>The holiday shopping season begins. The financial world will still be reeling &#8211; and in the early days of digesting some of the bailout funds that Treasury will be throwing at banks before the holidays.</p>
<p>That&#8217;s 8 weeks from now.</p>
<p><strong>And where will your note buying business be then? How many defaulted mortgages will you have bid on and won? </strong></p>
<p><strong>How much money will you have raised? How many banks will have opened their doors to you and sent you tape after tape of product that they would love to sell? </strong></p>
<p>Will you be even more concerned than you are today about your lack of &#8216;deals&#8217;? Will you be asking yourself if you will ever be able to close a purchase before Christmas?</p>
<p>8 Weeks from now is the last day of my <strong><a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Sample.pdf" target="_blank">custom-built 8-Week Note Buying Roadmap</a></strong> &#8211; IF you start today.</p>
<p>By then, most of my students will have figured out how much to pay for a nonperforming note, where to find one, what to do with one, and how to close on one. You see, they will have just completed the 8-week roadmap (with its <strong><a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf" target="_blank">9 Note Buying checklists</a></strong> and 4 toolkits), that guides them through my <strong><a href="http://www.notebuyingprofits.com/preorder.html" target="_blank">A-Z of Note Buying course</a></strong>. And many will have just finished perfecting their offers to banks.</p>
<p>The most persistent students will have already bought their first note, and the best one will have cashed in on hers already, and be looking to buy 2 to 3 more before Christmas.</p>
<p>For those who just got into their very first note, they will have a sense of achievement &#8211; of finally having overcome their own fears about &#8216;being the bank&#8217;.</p>
<p>Many other people will have let 8 more weeks pass by with no change on their horizon. They will be as frustrated then as they are now. They will have no more money to spend on the holiday shopping season than they do today. And they will be as gloomy as ever about the prospect of ever getting control over their real estate dreams.</p>
<p>Which group will you be a member of? The one working to close its first note deal and to start profiting from the turmoil in the mortgage market, or the one watching November pass frustratingly by?</p>
<p>The 8 weeks will pass by, regardless.</p>
<p>New Years is around the corner. Instead of making another laundry list of resolutions on January 1st, wouldn&#8217;t it be nice to instead feel like you&#8217;ve already completed a few that you haven&#8217;t even made to yourself yet?</p>
<p>Like committing to an investment strategy that can bring you wealth without requiring your endless time, and taking your first step in developing a relationship with a bank that can bring you deal after deal after deal.</p>
<p>The 8 week are going to pass by. But the question is: where will you be when they have passed?</p>
<p>You are the decision-maker.</p>
<p>My <a href="http://www.notebuyingprofits.com/preorder.html" target="_blank">&#8216;<strong>A-Z Profiting from Discounted Mortgages Business-in-a-Box</strong>&#8216;</a> course positively has all the knowledge and tools you need to get started. But the implementation part I can&#8217;t do for you.</p>
<p>Take a step to advance your real estate investing. Don&#8217;t just dabble again like you have before. Make this one count. You can do it. Now.</p>
<p>I will help you get started and lay out each step you need to take to be a success in buying notes.</p>
<p>We will shortly stop offering it at the introductory price and it will go up 50%, which will be a lot more in line with the true value of it (just compare its massive content &amp; the current price to other courses out there&#8230;).</p>
<p>But I wanted to give you the opportunity at the old price. Plus, I will honor the special discount code I put at the end of the <strong><a href="http://notebuyingprofits.com.s3.amazonaws.com/pac/videos/092408PACwebinarBailoutplusRoadmap90minswfsef800toc/092408PACwebinarBailoutplusRoadmap90minswfsef800toc.htm" target="_blank">FREE &#8216;See what can happen to YOUR Note Buying Business in 8 Short Weeks&#8217; Video</a></strong> for another 48 hours, to make it a complete no-brainer for you.</p>
<p><a href="http://www.notebuyingprofits.com/preorder.html" target="_blank"><strong>You can get the 16 hour+ Note Buying course here</strong>.</a></p>
<p>Hope to see you on the other side. It&#8217;s an exciting ride and the perfect time of the market to do this.</p>
<p>Dean</p>
<p>PS: Here is my gift to you again: <strong><a href="http://notebuyingprofits.com.s3.amazonaws.com/pac/videos/092408PACwebinarBailoutplusRoadmap90minswfsef800toc/092408PACwebinarBailoutplusRoadmap90minswfsef800toc.htm" target="_blank">a FREE Video tour of what can happen to Your Buying-Defaulted-Mortgages Business within 8 weeks time&#8230;</a></strong><br />
(Plus a little bit of market analysis for you.)<br />
=================================</p>
<p>* Join our NEW FORUM at www.NoteBuyingProfits.com/forum</p>
<p>* Ready to REALLY get down &amp; dirty?<br />
&#8216;<a href="http://www.notebuyingprofits.com/" target="_blank">A-Z Profiting from Discounted Mortgages Business-in-a-Box</a>&#8216;.<br />
-&gt; 16 hours+ of Video Training, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf" target="_blank">23 pages of checklists</a>, a complete <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Sample.pdf" target="_blank">8-Week Roadmap</a>, an extensive <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/AZtableofcontents.pdf" target="_blank">Table of Contents</a> for quick reference, plus TONS of Bonuses.<br />
[===&gt; You can check out <a href="http://www.notebuyingprofits.com/freenotebuyingresources.html" target="_blank">Hours of F.REE Training Videos of the actual Course Content HERE</a>.]</p>
<p>* <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">&#8216;PRIVATE ACCESS CLUB&#8217; (PAC) &#8211; Test-Drive it for F.REE for 30 Days!</a><br />
Get Your Questions Answered LIVE &amp; get Ongoing Support &amp; Training!<br />
Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.), Real-Life Case Studies, Role-Playing, Members-Only Forum, and &#8216;HOT SEATS&#8217; to get coaching on Your Deals/Business Challenges, and more</p>
<p>* Questions? Chances are I already answered them at www.NoteBuyingProfits.com/blog (use the &#8216;Search&#8217; feature or click on the &#8216;FAQ&#8217; category on the right to see them all!)</p>
<p>==================================</p>



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		<title>Defaulted Mortgages aka NonPerforming Notes &#8211; Market Analysis &#8211; Note Buying is a Good Thing..</title>
		<link>http://www.notebuyingprofits.com/blog/100/defaulted-mortgagess-aka-nonperforming-notes-market-analysis-note-buying-is-a-good-thing/</link>
		<comments>http://www.notebuyingprofits.com/blog/100/defaulted-mortgagess-aka-nonperforming-notes-market-analysis-note-buying-is-a-good-thing/#comments</comments>
		<pubDate>Thu, 02 Oct 2008 22:05:50 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Research]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[Array]]></category>
		<category><![CDATA[buying defaulted mortgages]]></category>
		<category><![CDATA[buying defaulted notes]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[Current Market]]></category>
		<category><![CDATA[Dean]]></category>
		<category><![CDATA[defaulted mortgages]]></category>
		<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[Good Thing]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[Mortgages]]></category>
		<category><![CDATA[nonperforming notes]]></category>
		<category><![CDATA[real estate investing]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=100</guid>
		<description><![CDATA[In short &#8211; regardless of the plan that Congress ends up passing, and that Paulson gets to execute, expect significant growth in the volume of non-performing paper that gets traded. Here&#8217;s short take on the markets, FYI.

Short Sales are out. Note Buying aka Buying Defaulted Mortgages aka Buying Nonperforming Notes is IN.







Share and Enjoy:


	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	


]]></description>
			<content:encoded><![CDATA[<div id="media">In short &#8211; regardless of the plan that Congress ends up passing, and that Paulson gets to execute, expect significant growth in the volume of non-performing paper that gets traded. Here&#8217;s short take on the markets, FYI.</div>
<div></div>
<div>Short Sales are out. Note Buying aka Buying Defaulted Mortgages aka Buying Nonperforming Notes is IN.</div>
<div></div>
<p><center></p>
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<p></center></p>



Share and Enjoy:


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