Want a “scholarship” to spend the day with me?

I’m hosting a Power Notes Workshop in San Francisco next month (on July 25th) that’s designed to “turbo-charge” your note buying business and give you access to a small, elite group of other deal-makers and entrepreneurs.

The cost of the program is $897, but I’m offering two full scholarships to attend the event. Here’s how it works…

Since the difference between success and failure is often the willingness to take action, I want to reward those who learned something from me and implemented it in some way–big or small. So, if you send in one of the best implementation stories, you’ll get a $897 ticket to this event.

>>>Here’s What To Do…

Tell me the story about a concept or technique you learned in one of my videos, articles, or other resources, how you implemented it, and the results that you achieved. This isn’t necessarily about who made the most money (although that’s not the worst thing that can happen).

It’s about who took what they learned, put it into action, and got results.

I will be judging the entries personally, and choosing the two winners myself… and announcing them in a few days .

As I said, I’m going to give away two tickets to the full-day Power Notes Workshop held in SF on July 25th, plus a special “surprise” bonus, a value of $897+ EACH.

The winners will be announced next Wednesday, July 8th… and hopefully you’ll be one of them!

So tell me your “Speed Of Implementation Success Story” – and good luck winning one of the two tickets to the Power Notes Workshop!

NOTE: Put your story in the “comments” box below, and only submit your story ONCE (it will be individually reviewed before being posted, and won’t show up immediately). If you need to leave out certain details for business or personal reasons, that’s okay.

So take action now–and get those implementation stories in!

Looking forward to reading these…

Dean

For those of you out there that are trying to sell your defaulted mortgages and looking for…

***Prospective Note Buyers***

Always think of ways to use publicly available information that will help you in selling notes. (conference attendees and foreclosure auction buyers are ones I’ve mentioned in the past).

One other source for potential defaulted mortgage buyers is:

* * * The list of Commenters on the FDIC’s Legacy Loans Program includes a number of Self-Identified Note Investors * * *

Go to the public comments section and collect the following data about these note buyers:

* Name

* Title

* Affiliations

* Email address

Voila … a PROSPECTIVE BUYER LIST that might just be all that you need for your note buying business!

Here’s the link to the comments list on the

========> FDIC’s Website

(Probably won’t stay up forever, so be quick!)

Talk to you soon,

Dean

P.S. Did you enjoy this information? If so, my note buying course is full of no-fluff info like it. 16 hours to be exact. And you can try it for a buck!

Learn how to buy Notes:

My 16-hour course for A BUCK? (YES!)

I would like to share something with you that may appear slightly crazy.

And my business partner Falk sure thought the same thing when I suggested this to him…

Here’s ‘a little experiment’ I am conducting:

I am so convinced that you will be completely blown away by the quality of my course that I decided to let you try the whole thing for a full 30 days for a whopping $1 with no obligation to purchase!

Yes, you heard that right. Try it for 30 days at no risk.

Think about this for a moment:

Do you believe I could make such a ridiculous offer if I couldn’t back up my claims here with 100% high- quality, no-fluff information?

I didn’t think so either.

As a matter of fact, I think this unsolicited comment from Will Seminario from Miami in our Forum says it best (he was answering somebody’s question about the course):

“The bottom line… Everything in the course is the way Dean says it is… Period. It’s VERY rare that you see the actual delivery of a course directly mirror what it says it offers. There are absolutely no fillers in this course, just meat and potatoes.”

So, If you don’t think the course is everything it promised to be, and then some, you can just send it back within the first 30 days and won’t be charged. Period.

If you like the course, you’ll keep it, and you will pay after 30 days in three EASY monthly payments.

Plus, on top of that, as if that would not be enough, I am happily offering you a 90-day No-Questions-Asked 100% Money-Back Guarantee!

It’s as easy as that…

You don’t like it?

Send it back within 90 days and I simply refund you all your money. No questions asked.

I think you will agree that it doesn’t get much more straightforward than that.

This market is Yours!

We have 2-3 really good years ahead of us. Right NOW! Don’t miss it.

‘Mhhhh, should I RISK that dollar? Should I not risk that dollar…? Should I risk that dollar? Should I not risk that dollar?’

You be the judge.

Tomorrow never comes.

To your success t.o.d.a.y.,

Dean PS: I have never done this before and I hope it’s not gonna turn out as a big ‘let’s take advantage of Dean’ extravaganza. But I feel it’s the right thing to do, and it will help a lot of people ON THE FENCE (you?) to TAKE ACTION – and in a safe, risk-free way.

Any questions or comments? Just call us at 718-783-7605 or simply leave a comment below and type away.

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

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

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

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

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

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

…

Here’s an aha on the C4K debate.

Assume no jr lienholders.

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

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

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

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

So, let me go through some numbers:

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

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

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

The answer would be ~45%.

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

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

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

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

Be your success & go out there and TAKE ACTION!

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

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

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

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

Tomorrow never comes…

And I have taken all the Risk away from you:

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

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

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

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

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

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

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

Or this one:

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

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

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

See you on the other side?

To your success,

Dean

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

Well, I thought of a solution for you:

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

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

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

You do now.

Talk soon,

Dean

PS:

Want some ’social proof’?

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

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

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

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

You are a Real Estate God Send!

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

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

In case you missed our f.ree note buying webinar last Wednesday on
‘How to Determine the Price on ANY  Property in the US – without leaving your desk‘:

You can watch this How to Buy Notes Video buy clicking HERE.

It is part of an 8-part series as part of the Private Access Club.

It is all about how to implement the Note Buying Roadmap Document that came with the A-Z Note Buying course.

I am taking you by the hand and we spend 90 minutes on each week of the 8 weeks in the Roadmap.

Here’s your chance to have me ‘handhold’ you through it – and you being able to watch me go through all the assignments of it.
And, of course, to ask me any ‘how to buy notes’ questions on it you’d like. LIVE.

Enjoy the replay (it applies to any part of Real Estate Investing, not just buying notes…), and join me for the rest as a PAC member…

Remember, there’s a 30-day f.ree Trial. So, not much risk there.

Dean

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

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

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

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

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

OK, so I just officially received the “where do I find the list of banks that sell?” question now for the 58th time (I’m not kidding here).

So it’s obviously on a lot of your minds.

And it was on my mind when I finished my very first course on How to Buy Notes almost 4 years ago now.

In fact, that was the MOST important question I wanted to ask Mark – my instructor. And it was the MOST pressing on our minds.

And so … at the end of a 3-day workshop I spent with him … I was so tense and ready to just GET THE LIST OF BANKS THAT SELL NOTES.

Goddamit, I thought. Why didn’t he just give me the list at the beginning of the course to just get the tension out of the air so that we could all focus on now what to DO with that list?

So it was with great anticipation that Mark handed me – handed us – the Magic Binder of banks that sell.

I wolfed it down. I skimmed every page for nuggets, details, of every bank that “the Master” knew sold notes.

And here’s what happened. Here’s what I did with that information.

Exactly … nothing.

Why?

Well, let me walk you through what happened after the course was over.

Here’s what happened after Mark handed me a binder full of the names of banks that sold notes:

a)    A number of the banks didn’t exist anymore (if I had included Indymac on the list of banks that sell notes a few months ago, you’d be disappointed in me now since you’d probably end up having to negotiate through the FDIC rather than Indymac)

b)    The phone numbers were just the main numbers for the banks themselves – which I had access to using Lane Guide or even Google

c)    Some banks on the list that had sold notes, I was told when I called them, didn’t any longer (so they told me – however whether they would mention something differently to him I didn’t know)

d)    Some banks that were not on the list, did sell notes

e)    Once I had the name of the bank itself, I still had to make my presentation to the right person – and that had more to do with what I needed to talk to the banker about than about whether the bank sold notes or not

And finally, here’s what happened to the list of banks, and that binder. It’s sitting on my bookshelf now. I’ve thought about copying it and distributing it – since it would probably be no less useful now than it was 4 years ago when I was leafing through it.

So what’s my point here?

The list of banks that sells notes and defaulted mortgages is huge.

And it’s based, in almost all situations, on who you know.

I know less than a huge amount of banks that sell notes. In fact, the people that know the list inside and out more than anyone are … hmm, well let’s think about this for a minute.

a)    I know – personally here – less than 3 dozen banks and lenders that sell defaulted mortgages in today’s market

b)    The people I know well in this industry who run $1-50 million fund buy from less than 20 lenders in any given year. Most have less than 10 people that they buy from (or through – good brokers are a good find in this industry – treat them well)

c)    One of my colleagues spent 7 years buying from The Associates – that was his EXCLUSIVE seller – it still boggles my mind, but he became very wealthy from that one relationship

d)    Everyone who’s a “professional” note buyer has one thing in common

… and here’s *** THE SECRET *** – so listen carefully …

That secret is … they know how to talk the talk. They know what the talk is, what to ask for, how to ask for it, and what to do with the information once they’ve found it.

(May I say, you will be pretty dang good at that as well, even WITHOUT having bought your first note yet, if you thoroughly digest the 16 hours of training I am giving you in the ‘A-Z Profiting from Discounted Mortgages Business-in-a-Box‘.)

There.

Did you just hear that?

Did you get what I just said?

Let me put it another way as a friend of mine once told me: “It’s not about what you know it’s about what you do with what you know.”

So picture for a moment that the most knowledgeable of all Note Buyers (think of this person as the Zen Master of Note Buying) and you are on the 20th floor of a New York City apartment building looking out over the Lower East Side. The view is magnificent, but we don’t really hear the city at all, so she asks you out onto the fire escape.

You crawl out through the open window, and there, with the noisy backdrop of honking cabs and the rumbling of air conditioning fans, she grabs your arm and points out to the high buildings all across the horizon.

And then she says, in a hushed voice: “There they are.”

You glance at her, quizzically.

“Who is there?” you ask.

“They are,” she answers. “The ones you are looking for.”

You look out to where her arm is pointing, but her arm is moving in a gentle arc all the way from your far left to your far right.

Now, you’re really clueless. You’re about ready to ask her to explain what she means, but she cuts you off.

“I sense your doubts,” she says, and then continues.

“Let me tell you a story.”

And she begins to tell you a story about the time she learned from her master, and what he did to teach her where to look for the Fountains of Perpetual Notes, as he called it.

And she recounts the four words that he told her, in a similarly hushed tone: “Look for the suffering,”

“So now,” she whispers to you, her arm still pointing over the buildings lighting up New York’s night sky, “I tell you. Look for the suffering and there you will find the Fountains of Perpetual Notes.”

And she takes you back into the apartment there on the 20th floor in the Lower East Side.

Look for the suffering. Fountain of perpetual notes.

What the ?@#! All I’m looking for is a list of banks that sell notes!

The suffering right now is EVERYWHERE. There are very few lenders that do not have non-performing assets on their books.

There are many, many, many lenders that are selling notes right now, to investors they know and to investors they do not know.

===> There are even more lenders that are being forced to sell notes right now, to investors they do not know.

There are many investors that are calling up those lenders asking to be put on the “list” of approved investors.  If I were to give you the list of banks that I know sell, it would be like telling you to go pick a number and to stand in line at Katz’s deli at lunch rush-hour on a weekday.

Instead, go “Look for the suffering”.

And approach this with the belief that every lender sells. It’s not a question of “if” – but “to whom”.

I hope you you enjoyed this info on how to buy defaulted mortgages.

Well…, we figured out a GREAT way to accomplish just that!

Enter: ===> PRIVATE ACCESS CLUB <===

Here is what you’ll get with PAC:

* Live Conference Calls/Webinars (Stay Current & Interact LIVE)

* Q&A Sessions (Get YOUR Questions Answered – listen to/download a Q&A Audio MP3 Sample HERE (= Good iPod ‘Food’!).

* Real-Life & CURRENT Case Studies (see a current deal of mine I shared with PAC members recently about to net me over $70K – and no reason, why you can’t do the same!)

* Role-Playing (How to talk to the bank & borrowers – get practice & coaching!)

* Special-Topic Sessions (Finding Notes, Raising Money, Calculating Returns, etc.)

* Interviews with Industry Insiders (Bank Reps, Top Brokers, Attorneys, etc.)

* Members-Only Forum (Exchange info with your peers, ask more questions, sell your notes, find partners, etc.)

* ‘HOT SEATS’ (Get 1-on-1 coaching on your deal/business challenge, as well as benefit from listening in on others’ deals/challenges & them getting coaching)

* and more to come…

And, no worries, if you can’t make it on the live call/webinar – everything will be recorded and promptly uploaded to the members area, so you can watch/listen to it whenever you please!
We are building a HUGE Note Buying archive/knowledgebase for you here!!

Multiple formats available where applicable: Online Videos, iPod Video downloads, MP3 Audio downloads, PDF transcript downloads, etc.)

30-Day Trial for $1 – click here

Here is what it will do for you:

You don’t have to do this on your own!

Wherever you are in your note investments, whether you are looking for your first deal, or raising a $20 Million Fund, there will be resources for you to build & grow!

* Get ongoing support! Get your questions answered.

* Learn from industry experts, learn from real-life case studies, learn from others being coached on their deals, learn from being coached on YOUR deal!

* Keep your hand on the pulse! Stay current with important industry news and market changes

* Exchange info with your peers in the members-only forum & grow TOGETHER

This market is Yours! We have 2-3 really good years ahead of us. Right NOW! Don’t miss it.

Here is what to do next:

Try it out for the first 30 days for $1! (No, this is not a typo!)

Charter Membership: $97 per month (after the 30-day trial for $1)
(Yes, the price will increase. NO, your price will never increase as a charter member!)

=> Purchasers of our ‘A-Z Profiting from Discounted Mortgages Business-in-a-Box’ Course are getting the first month for free!
(Please also note that this 16 hour+ Course will give you an invaluable foundation and solid base, which will make your PAC membership countless times more effective and valuable for yourself. You will be seriously prepared to have PAC support you in putting your note buying knowledge into high-gear ACTION!)

I get asked all the time ‘But, Dean, how do I find non-performing notes?? Do banks really sell notes to individuals?”

One person just told me “hey, I walked into my local bank branch and asked if they had non-performing notes for sale and they told me “no, we don’t sell notes.”

Well, if you want to get serious about figuring this out – AND shortcut your learning curve dramatically: it’s all in my ‘How to Find Non-performing Notes Course (4 hours+ jam-packed information on exactly the subject of ‘how to find non-performing notes’).
You can watch the first 2 HOURS for absolutely FREE. Take a peek:

If the bank doesn’t have either of the first two departments, then make sure that you aim straight for the top of their loss mitigation department – you don’t want to get stuck in mid-level manager hell.

And then once you get that person on the phone – tell them that you buy non-performing notes, anything 90 days or more delinquent, tell them where you typically buy notes, and if they ask you for what your typical pricing is, tell them you can price up to, say, 85% of UPB (unpaid principal balance). (You don’t want to kick yourself out of contention for buying notes when you haven’t even gotten a foot in the door, and if the bank’s asking about price, make sure that you convey that you don’t skimp!)

As to the secret of how to get through to the right person – and what it REALLY takes to break through to that bank representative: it’s covered in detail starting at minute 11 of Part 3 (the third hour) of my ‘How to Find Non-performing Notes‘ Course.

I bid a pool of non-performing notes held by a trustee for a bankrupt mortgage company. Two loans were missing collateral files. One is a loan on a Florida property. Ouch – Florida judges are increasingly strict on lost note affidavits and missing notes in general. In some cases, they’ll throw out the foreclosure proceeding if you don’t have the original note, or appropriate documentation. 

Scurrying as fast as I could, I was able to track down a copy of the note that was in storage at the title company office that insured the note (this was a 2006 loan).  (One of the things that you’ll learn more and more about me is that I like to get my hands dirty on as many note buying deals as I can – it allows me to learn more and more about everything that can happen in our world of non-performing notes – I’m not a “hands-off” trainer in any way).

Fingers crossed … we’ll be able to sail through a foreclosure with a lost note affidavit, but without the original note.

How did I price? I took an extra 15% off my bid due to the missing note issue. Why 15% and not more? I needed to play it safe on the bid. But the home’s value supports a higher bid. I feel we have a better than even chance of being able to foreclose, and then use the foreclosure to help us negotiate a refi or a deed-in-lieu with the borrower.

If you want to learn more about the science part of pricing notes, take a look at our ‘Determining Price’ Note Buying Course. 4 hours+ just on this topic alone. And you get to watch the first hour for free…