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	<title>NoteBuyingProfits.com/blog &#187; Mortgages</title>
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		<title>How to Broker Notes and Get Started in the Note Buying Business &#8211; The Right Way</title>
		<link>http://www.notebuyingprofits.com/blog/206/how-to-broker-notes-and-get-started-in-the-note-buying-business-the-right-way/</link>
		<comments>http://www.notebuyingprofits.com/blog/206/how-to-broker-notes-and-get-started-in-the-note-buying-business-the-right-way/#comments</comments>
		<pubDate>Fri, 07 Nov 2008 11:50:19 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Brokers]]></category>
		<category><![CDATA[Newbie Topic]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[Array]]></category>
		<category><![CDATA[broker notes]]></category>
		<category><![CDATA[Brokering]]></category>
		<category><![CDATA[brokering notes]]></category>
		<category><![CDATA[Business Questions]]></category>
		<category><![CDATA[Dean]]></category>
		<category><![CDATA[Game Plan]]></category>
		<category><![CDATA[how to broker notes]]></category>
		<category><![CDATA[How To Get Started As A Note Broker]]></category>
		<category><![CDATA[Investment Money]]></category>
		<category><![CDATA[Money Broker]]></category>
		<category><![CDATA[Money To Invest]]></category>
		<category><![CDATA[Mortgages]]></category>
		<category><![CDATA[Need Money]]></category>
		<category><![CDATA[Newbie]]></category>
		<category><![CDATA[note broker]]></category>
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		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=206</guid>
		<description><![CDATA[On brokering Notes/How to Broker Notes:
Here is a question I just came across on our new forum at: www.notebuyingprofits.com/forum recently:
Hi Dean,
I&#8217;m a newbie. I have read all the free information on your site. I plan to purchase your system next week. I have no money to invest in notes at this time. I plan to broker [...]]]></description>
			<content:encoded><![CDATA[<p><strong>On brokering Notes/How to Broker Notes:</strong></p>
<p>Here is a question I just came across on our new forum at: <a href="http://www.notebuyingprofits.com/forum">www.notebuyingprofits.com/forum</a> recently:</p>
<p>Hi Dean,</p>
<p>I&#8217;m a newbie. I have read all the free information on your site. I plan to purchase your system next week. I have no money to invest in notes at this time. I plan to broker a few until I get comfortable with the process and get some investment money saved. Since this is my game plan, is this the right course for me just starting out. Does your A-Z <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">note buying course</a> give you the tools needed to only broker at first?</p>
<p>Thanks,<br />
Sheryl</p>
<p>======================</p>
<p><strong>And here is my reply. This may address some of the &#8216;how to get started in the note buying/defaulted mortgages business?&#8217; questions going through your head as well:</strong></p>
<p>Sheryl,</p>
<p>Brokering Notes is both an art and a science, and no &#8211; you don&#8217;t need money to broker notes. What you need, though, is a solid understanding of what you&#8217;re brokering if you want to make any money brokering notes.</p>
<p><strong><em> </em></strong></p>
<p>Actually, brokering is a very useful way to start &#8211; you can learn about the entire closing process, and see a transaction in action, before you ever need to put any of your own money at risk.</p>
<p>Nothing compares to buying your own note in terms of gaining experience, but this can be a great way to start (making good money) before you build up enough cash to be able to buy your own note (where you can make <em>great</em> money).</p>
<p>There are a few really good brokers out there, however, that make excellent money doing what they&#8217;re doing.</p>
<p><span style="text-decoration: underline;">Learn this right, and you can have none of your cash in the game, excellent relationships that you continue to build over time, and do incredibly well for yourself!</span></p>
<p><strong>Let me give you an example of what sometimes happens with brokers</strong>:</p>
<p>If you were to call me up today (our office usually gets 3-5 of these calls each week) and say &#8220;Hi, I&#8217;m Sheryl and I&#8217;d like to broker notes to you &#8211; can you tell me what you&#8217;re looking for and I&#8217;ll go out and look for some?&#8221;, you wouldn&#8217;t make it through the door and we&#8217;d probably put your name down on the &#8220;do not answer&#8221; list. <img src='http://www.notebuyingprofits.com/blog/wp-includes/images/smilies/icon_sad.gif' alt=':(' class='wp-smiley' /> </p>
<p>Here&#8217;s why: <strong>if you, as a broker of notes, can&#8217;t demonstrate to me &#8211; a buyer of notes &#8211; why I should listen to you in 30 seconds or less, then you&#8217;re a time waster.</strong></p>
<p><strong>Here&#8217;s what the Good brokers do: </strong></p>
<p>They call when they have product that they&#8217;d like to show us and have us bid on. And the only way to get product is to &#8230; talk to banks or other sellers of notes, and convince them that you know what you&#8217;re talking about and that you can help them out by finding buyers for their paper.<br />
(Take a look at this recent blog post for more tips on why it&#8217;s important to understand what you&#8217;re brokering:  <a href="../../../../../160/note-brokering-of-defaulted-mortgages-an-art-and-on-turnkey-investment-programs/">http://notebuyingprofits.com/blog/160/note-brokering-of-defaulted-mortgages-an-art-and-on-turnkey-investment-programs/</a>)</p>
<p>So now &#8211; guess what &#8211; as <strong>a broker you need to actually demonstrate a similar understanding of notes that a regular buyer does like me. </strong></p>
<p><strong> </strong></p>
<p>Why?</p>
<p>Because banks want to deal with people who know what they&#8217;re doing.</p>
<p>And what a Bank will usually be looking for is someone who knows what happens in a bid and how bids are presented (stips and purchase contracts, fades, e.g. Step 3 of the A-Z Course and the note buying document toolkit that comes with it), what type of due diligence a typical buyer will be doing (title and BPO&#8217;s, Step 2 of the A-Z How to buy Defaulted Mortgages Course), and what individual buyers actually DO with the notes they buy (the 5 different note buying exit strategies, Step 4 of the A-Z note buying course).</p>
<p><strong>My advice:</strong></p>
<p>Give yourself a solid education in the note buying, the note closing, the note negotiation and the note workouts, so that you can (<strong>WITHOUT DOING A SINGLE DEAL</strong>), demonstrate a solid understanding of the note buying space.</p>
<p>No one likes dealing with newbies who don&#8217;t know anything &#8211; everybody likes to deal with professionals, or people who come across as professional, who won&#8217;t waste their time and who can get them product.</p>
<p>You can spend a lot of time getting to the point where you&#8217;re taken seriously by buyers and banks (you need both in order to broker successfully, which not many people realize in this market).</p>
<p>And the A-Z <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">Profiting from Defaulted Mortgages</a> Business-in-a-Box course will jumpstart you - I have absolutely no doubt about it.</p>
<p>Also, on brokering - you should really listen in to the Q&amp;A session I had with a TOP Broker, Steve Cohen over at Nautilus &#8211; as part of our Private Access Club webinars/calls.</p>
<p>It&#8217;s a 93-minute review session on what defines a good broker, what they do for their clients, what indicative pricing is for certain pools, and other very valuable tips to give you some insight into how to succeed as a note broker.</p>
<p>It is  available for you to review for 30-Day FREE Trial that comes with the Private Access Club which you can find here: <a href="http://www.notebuyingprofits.com/privateaccessclub.html">http://www.notebuyingprofits.com/privateaccessclub.html</a><br />
Just click on the link at the top left of the page &#8211; the free 30-day trial; you can then find the recording of this interview (and a LOT of other great recordings) in the members area.)</p>
<p>I look forward to seeing you out there very soon brokering notes!</p>
<p>There are 3 people, members in PAC and buyers of the A-Z <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">note buying course</a>, who I have personally had broker some very good quality note pools to me in the past 60 days.</p>
<p>Be your success,</p>
<p>Dean</p>
<p>=================================</p>
<p>* Check out our NEW FORUM: <a href="www.NoteBuyingProfits.com/forum">www.NoteBuyingProfits.com/forum</a></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>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[Amp]]></category>
		<category><![CDATA[Bala]]></category>
		<category><![CDATA[Balance Sheet]]></category>
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		<category><![CDATA[Competence]]></category>
		<category><![CDATA[Current Opportunity]]></category>
		<category><![CDATA[Debt Fund]]></category>
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		<category><![CDATA[Distressed Debt]]></category>
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		<category><![CDATA[Example Deals]]></category>
		<category><![CDATA[how to buy defaulted mortgages]]></category>
		<category><![CDATA[How To Raise Money]]></category>
		<category><![CDATA[How To Raise Money For Defaulted Mortgages]]></category>
		<category><![CDATA[how to raise money to buy notes]]></category>
		<category><![CDATA[investing in defaulted mortgages]]></category>
		<category><![CDATA[Kudos]]></category>
		<category><![CDATA[Money Insights]]></category>
		<category><![CDATA[Mortgages]]></category>
		<category><![CDATA[Newbie]]></category>
		<category><![CDATA[nonperforming notes]]></category>
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		<category><![CDATA[Venture Funds]]></category>

		<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>
		<category><![CDATA[buying notes]]></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>
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		<title>Note Brokering of Defaulted Mortgages and on &#8220;Turnkey Investment Programs&#8221; (NOT?)</title>
		<link>http://www.notebuyingprofits.com/blog/160/note-brokering-of-defaulted-mortgages-an-art-and-on-turnkey-investment-programs/</link>
		<comments>http://www.notebuyingprofits.com/blog/160/note-brokering-of-defaulted-mortgages-an-art-and-on-turnkey-investment-programs/#comments</comments>
		<pubDate>Wed, 22 Oct 2008 21:35:54 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
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		<description><![CDATA[Warning &#8211; this is a memo on the Art of Note Brokering. It was prompted by a note broker friend of mine who recently sent me a one-line update on what he had available for me: 

Turnkey investment – Newly rehabbed (former REOs) middleclass homes with large equity positions, leased, and positive cash flow in [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Warning &#8211; this is a memo on the Art of <strong>Note Brokering</strong>. It was prompted by a note broker friend of mine who recently sent me a one-line update on what he had available for me: </span></p>
<blockquote>
<p class="MsoNormal"><span style="font-size: 11pt; color: #000000; font-family: 'Calibri','sans-serif';">Turnkey investment – Newly rehabbed (former REOs) middleclass homes with large equity positions, leased, and positive cash flow in a market beginning to rebound.</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">I think you achieve Jadedness levels of &#8220;10&#8243; when those kinds of deals make me go &#8220;hmmm, wonder what&#8217;s under the covers on this one.&#8221;</span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">What was coincidental was that earlier the same day that I received this email, I&#8217;d just read a notice from someone else advertising an &#8220;amazing turnkey investment program&#8221;. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">So, being the perennial s***t tester, I decided to run some numbers to try to figure out what kinds of &#8220;deals&#8221; these could be. I cobbled together some logical assumptions in order to see if I could understand it. </span></p>
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<p class="MsoNormal"><span style="color: #000000;"><strong><span style="font-size: 10pt; font-family: 'Arial','sans-serif';">Back-of-the-Envelope Calcs</span></strong></span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">$100,000 purchase</span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">20% Down Payment</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">2% Closing Costs</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">22% or $22,000 &#8211; Down Payment plus Closing Costs</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">10% or $10,000 of Down Payment rebated at close (one common way to rebate this would be to have the purchase price &#8220;inflated&#8221; by $10,000, so now you have a $100,000 transaction, in which the seller accepts $90,000 and the remaining $10,000 is funneled to the buyer outside of escrow &#8211; often doesn&#8217;t show up on the HUD, which is questionable practice &#8211; there are other ways but this is a common one) </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">$12,000 Cash out-of-pocket</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Reason for the FICO requirement is that obviously the &#8220;investor&#8221; is qualifying for a loan, most likely brokered by the &#8220;seller&#8221; or a company related to the seller (wonder how many points they charge out of curiosity).</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Assume a 6.50% rate on an 80% 1st mortgage &#8211; it&#8217;s an $80,000 loan. Now, here&#8217;s the tricky part &#8211; what KIND of loan are these guys putting the buyer into &#8211; hopefully it&#8217;s full doc fixed rate financing (cautious and reasonable &#8211; look at default rates on fixed v variable rate financing and there&#8217;s more than a slight skew towards ARMs). Chances are it&#8217;s an ARM with an IO payment to minimize the financing cash flows. But let&#8217;s give everyone the benefit of the doubt and say that it&#8217;s fixed at 6.50%. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">So now, what you&#8217;re looking at is a monthly of $514 (assuming 30-yr amortization &#8211; though these guys probably push for 40), not including taxes and insurance (do they include T&amp;I payments, and do they escrow for those when they&#8217;re setting you up as the buyer?). Taxes, let&#8217;s assume for simplicity, would be 1% of acquisition, so that&#8217;s $83/month, and insurance could be another $20 or so, so that&#8217;s about $617/month. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">But wait. Since I&#8217;m not really managing my rent, there must be someone who&#8217;s being paid a property management fee, right? Well those fees can typically be 10% of the collected rents. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Now then, let&#8217;s define &#8220;positive cash flow&#8221;. The fact that this investment strategy is marketing &#8220;positive cash flow&#8221; rather than yield, the way an enlightened investor would think (I&#8217;m showing my bias here, and why <a href="http://www.notebuyingprofits.com/how-to-calculate-note-buying-returns.html" target="_blank">understanding returns</a> is crucial to your success as an investor in my opinion), means that this investment is most likely throwing off a few dollars, rather than a juicy spread. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">So to be positively cash-flowing on this property, you need to be bringing in something north of $650 or so/month. So net of a property management fee of 10%, that would mean rents of $722. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">But wait! Just to play it safe, since that&#8217;s the type of investment strategy being proposed here (a &#8220;safe&#8221; alternative to your market chaos), then we should probably build in a vacancy rate of maybe 1 month every 2 years. So that&#8217;s a 4.2% vacancy rate. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">OK, so I discount my rent down by 4.2% &#8211; call it 4%, so that means I have to get rents of $752 / month. In certain markets I&#8217;m sure 1-bedrooms or 2-bedrooms can fetch that kind of money, easily. And in some others, I&#8217;m sure that that&#8217;s pretty tough to do. But this should be, by my very simplified calculations, what the rent <strong><span style="font-family: 'Arial','sans-serif';">should </span></strong>be in order to support a &#8220;positive cash flow&#8221; claim. </span></p>
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<p class="MsoNormal"><span style="color: #000000;"><strong><span style="font-size: 10pt; font-family: 'Arial','sans-serif';">A Note on Rental Predictions</span></strong></span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">The challenges with these REO plays is that you&#8217;re not quite sure what the rental market is doing where Foreclosure volume&#8217;s pretty high. We&#8217;re seeing tenancy rates drop, leading to rental drops, in certain markets (completely counter-intuitive here), because some people move in with family, and because continued Foreclosure volumes lead to an increase in REO inventory whose only buyers are investors seeking what &#8230; rentals. Therefore, rents are staying soft in certain markets. </span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">So the &#8220;guarantees&#8221; of cash flow in these investment strategies are iffy &#8211; the only way to make them &#8220;solid&#8221; is to actually have lease agreements already signed. Could well be, I&#8217;m just pointing out one risk to the cash-flow model. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">And then, what really intrigued me in the email I received from this company selling the &#8220;Turnkey Investment Strategy&#8221; was something they termed a &#8220;guaranteed buy out&#8221; where you can get 1/2 the appreciation. Interesting. So the seller&#8217;s really selling a put option on the property. So it would be really interesting to read the language of that &#8220;guarantee&#8221; and what you&#8217;re being &#8221;guaranteed&#8221;. If I were to hazard a guess I&#8217;d say that there&#8217;s no strike price being locked in with that put, but rather a time frame (e.g. we&#8217;ll but it back in 24 months), and a notional cost to the option (and we&#8217;ll give you 1/2 the appreciation). So if there&#8217;s no appreciation (the forecast for price growth over the next three years according to Zandi over at Economy.com is flat over the next 3 years), then are they saying they&#8217;ll buy it back at cost? And if there is appreciation, then you&#8217;re essentially signing something now that costs the Seller nothing, and gives them 1/2 of some future &#8220;upside&#8221;. Wow. What a deal. For them <img src='http://www.notebuyingprofits.com/blog/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' />  It&#8217;s only a deal for you if the future buyback price is actually defined now. More than likely, it&#8217;s some funky equation to the Seller&#8217;s benefit.</span></p>
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<p class="MsoNormal"><strong><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Me, skeptical? </span></strong></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">What it sounds like to me is a deal to take market value of an REO ($90,000), inflate it by 10% and get a lender to finance that incremental price to facilitate a cash-back (potentially illegal) to buyer situation, with a claim that &#8220;rent will cover the mortgage payments&#8221; but perhaps on a loan that&#8217;s an Interest Only loan, and on a loan that doesn&#8217;t escrow for taxes and insurance. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">That alone worries me. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">The further claim of guaranteed buyback strikes me a great little scheme altogether. Noone in their right minds guarantees anything &#8211; not in this market, not in any market. So what&#8217;s happening there is that you&#8217;re being invited to &#8220;part&#8221; with 1/2 of your future gain in some fashion, and potentially still be on the loan (or there&#8217;d be some other Credit Buyer Sucker lined up to take you out). </span></p>
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<p class="MsoNormal"><strong><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">So my question to all Brokers out there: do you know exactly what you&#8217;re pitching? Have you seen the numbers? </span></strong></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Because if you don&#8217;t know the structure or the numbers inside and out, then you&#8217;re part of the problem rather than the solution. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';"><strong>THE BEST BROKERS HAVE ALL WALKED THEIR TALK.</strong> If it&#8217;s such a good deal, why wouldn&#8217;t you do up to 4 of these yourself? </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">You may know all of this, and I&#8217;m just preaching to my keyboard. And that&#8217;s fine. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">But if you don&#8217;t, do yourself a favor and learn the intimate details of what you&#8217;re brokering so that you can inform and educate your buyers. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';"><strong>For a lesson on excellent brokering</strong> &#8211; I want you to listen to Steve Cohen at Nautilus revealing his skills and his trade:  Here is a <a href="http://notebuyingprofits.com.s3.amazonaws.com/pac/videos/091008PACwebinarSteveBrokermin0719to0900swfsef800/091008PACwebinarSteveBrokermin0719to0900swfsef800.htm" target="_blank">quick note broker extract</a> of a 93-minute Question and Answer session I had with him last month as part of our <a href="http://www.notebuyingprofits.com/privateaccessclub.html">Private Access Club</a> (which you can try for 30 days for FREE). </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Really listen to Steve&#8217;s words there, right at the beginning (I am paraphrasing here): </span></p>
<p class="MsoNormal"><strong><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">A GOOD BROKER SEES THINGS THAT ARE UNREALISTIC IN A TRADE. </span></strong></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">A good broker is like a good waiter or waitress. Imagine walking into a fine restaurant (you&#8217;re an investor looking for deals), and you are seated and given the menu. Your waiter comes up (&#8221;brokering&#8221; food to you &#8211; helping you to choose if you need help) and you ask him &#8220;What can you tell me about the duck?&#8221;</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">And your waiter looks at you dumbly and says: &#8220;Ummm, well I don&#8217;t know, sir, I&#8217;ve never tried it.&#8221; </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Dumbwaiters are a relic from the past.</span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">Help ensure that dumb brokers become a thing of the past too. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">So let me leave you with a parting note: even if you broker only a <strong><span style="text-decoration: underline;"><span style="font-family: 'Arial','sans-serif';">single</span></span></strong> note, you owe it to yourself to know what to look for in what you&#8217;re brokering.<strong> </strong></span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';"><strong>If you haven&#8217;t invested in yourself and your own knowledge, how will you ever come across to your buyers as a trusted and knowledgeable source? </strong></span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">To make the most of Steve&#8217;s knowledge and his advice (and to hear a Pro talk about &#8220;his&#8221; business &#8211; remember, if you broker &#8220;Turnkey Investments&#8221; then Turnkey Investments are now <strong><span style="text-decoration: underline;"><span style="font-family: 'Arial','sans-serif';">your</span></span></strong> business) &#8211; get the full session with him (and TONS of other Killer recordings, plus lots of upcoming live webinars and calls) as a member of our <a href="http://www.notebuyingprofits.com/privateaccessclub.html">Private Access Club</a>, where we continuously &#8217;sharpen the saw&#8217; together. </span></p>
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<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">If people don&#8217;t take the time to educate themselves about notes, they&#8217;re bound to fail as a note broker. </span></p>
<p class="MsoNormal"><strong><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">I&#8217;ve seen many brokers fail. </span></strong></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';"><strong>The only ones that survive are those that really </strong><strong><span style="text-decoration: underline;"><span style="font-family: 'Arial','sans-serif';">understand</span></span> the business. </strong></span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">There are very few products out there teaching anyone what bank paper, let alone non-performing bank paper, actually is, and what to do with it. </span></p>
<p class="MsoNormal"><span style="font-size: 10pt; color: #000000; font-family: 'Arial','sans-serif';">And if you don&#8217;t take advantage of drawing on <strong><span style="text-decoration: underline;"><span style="font-family: 'Arial','sans-serif';">my</span></span></strong><strong><span style="font-family: 'Arial','sans-serif';"> </span></strong>knowledge of the business, organized into an easy-to-digest and comprehensive 16-hour <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">Note Buying training course</a> where I take you from Start to Finish on note deal after note deal, using &#8220;live&#8221; deals from my own portfolio, then you&#8217;re missing the point about the brokerage business altogether, and you&#8217;ll be one of the &#8220;Ugly&#8221; brokers out there. </span></p>
<p class="MsoNormal">You don&#8217;t want to be chasing buyers and sellers your whole life.</p>
<p class="MsoNormal">If you are a Broker, you want to close a trade. For that, you want &#8217;sticky&#8217; relationships, where sticky isn&#8217;t just defined as how many deals you do with someone, but rather, how much VALUE you bring to your Buyers and your Sellers.</p>
<p class="MsoNormal">The more you bring, the more you get paid.</p>
<p class="MsoNormal">It&#8217;s as simple as that.</p>



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			<wfw:commentRss>http://www.notebuyingprofits.com/blog/160/note-brokering-of-defaulted-mortgages-an-art-and-on-turnkey-investment-programs/feed/</wfw:commentRss>
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		</item>
		<item>
		<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[Buy Video]]></category>
		<category><![CDATA[buying defaulted loans]]></category>
		<category><![CDATA[buying defaulted mortgages]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[Dean]]></category>
		<category><![CDATA[Defaulted Loans]]></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>Buying Defaulted Loans in Today&#8217;s Market &#8211; Some &#8216;Buying Notes aka Defaulted Mortgages&#8217; Tips</title>
		<link>http://www.notebuyingprofits.com/blog/136/buying-defaulted-loans-in-todays-market-some-buying-notes-aka-defaulted-mortgages-tips/</link>
		<comments>http://www.notebuyingprofits.com/blog/136/buying-defaulted-loans-in-todays-market-some-buying-notes-aka-defaulted-mortgages-tips/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 12:24:42 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
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		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=136</guid>
		<description><![CDATA[Make sure to watch the Buying Defaulted Loans VIDEO below!
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;
The markets are going crazy and the Dow&#8217;s down to 1998 levels (yikes &#8211; hopefully you got out before the fall &#8211; I told all my family friends to go cash back in February of this year, so we&#8217;re doing OK as long as the mattress [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Make sure to watch the Buying Defaulted Loans VIDEO below!</strong><br />
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;</p>
<p>The markets are going crazy and the Dow&#8217;s down to 1998 levels (yikes &#8211; hopefully you got out before the fall &#8211; I told all my family friends to go cash back in February of this year, so we&#8217;re doing OK as long as the mattress holds up).</p>
<p><strong>So what does this mean for you in terms of buying defaulted mortgages? </strong></p>
<p>Will Treasury snatch everything up?</p>
<p><strong>No. There will be plenty of non-performing notes to buy.</strong> There is just too much bad paper circulating right now.</p>
<p>And regional banks and other smaller institutions, unlike Wall St broker/dealers, have a &#8220;normal&#8221; selling cycle that keeps putting paper out to bid every month.</p>
<p>Those are a great starting point for you.</p>
<p>For more info on the market, where to buy notes, who to target, and what the implications are, click on the note buying video below! (This is a snippet from this week&#8217;s <a href="http://www.notebuyingprofits.com/privateaccessclub.html">Private Access Club</a> webinar/conference call &#8211; where you can get ongoing training &amp; support for your note buying business. <a href="http://www.notebuyingprofits.com/privateaccessclub.html">Check out the 30-Day FREE Trial</a>! It&#8217;s a great community! You can watch the full 90-MINUTE replay of this webinar in the members area, as well as TONS of other recorded note buying training sessions, interviews &amp; role playing sessions with bankers &amp; lots more).</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>
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		<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 Mortgage Investing &#8211; The OPPORTUNITY is here&#8230;</title>
		<link>http://www.notebuyingprofits.com/blog/102/defaulted-mortgage-investing-the-opportunity-is-here/</link>
		<comments>http://www.notebuyingprofits.com/blog/102/defaulted-mortgage-investing-the-opportunity-is-here/#comments</comments>
		<pubDate>Fri, 03 Oct 2008 17:57:14 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Videos]]></category>
		<category><![CDATA[Array]]></category>
		<category><![CDATA[buying defaulted mortgages]]></category>
		<category><![CDATA[Current Opportunity]]></category>
		<category><![CDATA[Dean]]></category>
		<category><![CDATA[defaulted mortgage]]></category>
		<category><![CDATA[Defaulted Mortgage Investing]]></category>
		<category><![CDATA[defaulted mortgages]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[Employment Numbers]]></category>
		<category><![CDATA[House Price]]></category>
		<category><![CDATA[investing in defaulted mortgages]]></category>
		<category><![CDATA[investing in notes]]></category>
		<category><![CDATA[Meltdown]]></category>
		<category><![CDATA[Mortgage]]></category>
		<category><![CDATA[Mortgages]]></category>
		<category><![CDATA[nonperforming notes]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[Opportunity]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=102</guid>
		<description><![CDATA[Here&#8217;s a simplified view of the market right now. The fundamentals are weak right now, primarily the employment numbers and resulting house price depreciation.
No matter what, the Opportunity to PROFIT from Buying Defaulted Mortgages aka Nonperforming Notes is there &#8211; Guaranteed.






Share and Enjoy:


	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	


]]></description>
			<content:encoded><![CDATA[<div id="media">Here&#8217;s a simplified view of the market right now. The fundamentals are weak right now, primarily the employment numbers and resulting house price depreciation.</div>
<div>No matter what, the Opportunity to PROFIT from Buying Defaulted Mortgages aka Nonperforming Notes is there &#8211; Guaranteed.</div>
<p><center></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.







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]]></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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