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	<title>NoteBuyingProfits.com/blog &#187; notebuyingprofits.com</title>
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	<description>Real-Life, Up-to-Date Training to Profit from Defaulted Mortgages</description>
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		<title>Selling Notes &#8211; All the Note Buyers You Need in One Place!</title>
		<link>http://www.notebuyingprofits.com/blog/601/selling-notes-all-the-note-buyers-you-need-in-one-place/</link>
		<comments>http://www.notebuyingprofits.com/blog/601/selling-notes-all-the-note-buyers-you-need-in-one-place/#comments</comments>
		<pubDate>Thu, 14 May 2009 20:34:26 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[buying and selling note]]></category>
		<category><![CDATA[cashflow notes]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[note buying course]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>
		<category><![CDATA[selling notes]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=601</guid>
		<description><![CDATA[On Selling Notes:
For those of you out there that are trying to sell your defaulted mortgages and looking for&#8230;
***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&#8217;ve mentioned in the [...]]]></description>
			<content:encoded><![CDATA[<h2><strong>On Selling Notes:</strong></h2>
<p>For those of you out there that are trying to sell your defaulted mortgages and looking for&#8230;</p>
<h3><strong>***Prospective Note Buyers*** </strong></h3>
<p>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&#8217;ve mentioned in the past).</p>
<p>One other source for potential defaulted mortgage buyers is:</p>
<h3><strong>* * * The list of Commenters on the FDIC&#8217;s Legacy   Loans Program includes a number of Self-Identified   Note Investors * * *</strong></h3>
<p>Go to the public comments section and collect the   following data about these note buyers:</p>
<p>* Name</p>
<p>* Title</p>
<p>* Affiliations</p>
<p>* Email address</p>
<p>Voila &#8230; a PROSPECTIVE BUYER LIST that   might just be all that you need for your note buying business!</p>
<p>Here&#8217;s the link to the comments list on the</p>
<p>========&gt; <a href="http://www.fdic.gov/llp/LLPcomments.html" target="_blank">FDIC&#8217;s Website</a></p>
<p>(Probably won&#8217;t stay up forever, so be   quick!)</p>
<p>Talk to you soon,</p>
<p>Dean</p>
<p>P.S. Did you enjoy this information? If so, my <a href="http://www.notebuyingprofits.com/note-buying-defaulted-mortgages-course-preorder.html">note   buying course</a> is full of no-fluff info like it.   16 hours to be exact. And you can try it for a buck!</p>
<br/><br/>]]></content:encoded>
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		<item>
		<title>Learn how to buy Notes: My 16-hour Note Buying Course for a Buck?</title>
		<link>http://www.notebuyingprofits.com/blog/594/learn-how-to-buy-notes-my-16-hour-note-buying-course-for-a-buck/</link>
		<comments>http://www.notebuyingprofits.com/blog/594/learn-how-to-buy-notes-my-16-hour-note-buying-course-for-a-buck/#comments</comments>
		<pubDate>Tue, 28 Apr 2009 20:51:55 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Newbie Topic]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[buying defaulted mortgages]]></category>
		<category><![CDATA[buying notes from banks]]></category>
		<category><![CDATA[learn how to buy notes]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[note buying course]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=594</guid>
		<description><![CDATA[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&#8230;
Here&#8217;s &#8216;a little experiment&#8217; I am conducting:
I am so convinced that you will be completely blown away by [...]]]></description>
			<content:encoded><![CDATA[<blockquote><p><strong>Learn how to buy Notes:</strong></p>
<p>My 16-hour course for A BUCK? (<a href="../../../../../../preorder" target="_blank">YES!</a>)</p>
</blockquote>
<p><br class="spacer_" /></p>
<p>I would like to share something with you that may appear slightly crazy.</p>
<p>And my business partner Falk sure thought the same thing when I suggested this to him&#8230;</p>
<p>Here&#8217;s &#8216;a little experiment&#8217; I am conducting:</p>
<p>I am so convinced that you will be completely blown away by the quality of my course that I decided to let you<a href="../../../../../../preorder" target="_blank"> try the whole thing for a full 30 days for a whopping $1</a> with no obligation to purchase!</p>
<p>Yes, you heard that right. <img src='http://www.notebuyingprofits.com/blog/wp-includes/images/smilies/icon_wink.gif' alt=';)' class='wp-smiley' />  Try it for 30 days at no risk.</p>
<p>Think about this for a moment:</p>
<p>Do you believe I could make such a ridiculous offer if I couldn&#8217;t back up my claims here with <a href="../../../../../../preorder" target="_blank">100% high- quality, no-fluff information</a>?</p>
<p>I didn&#8217;t think so either.</p>
<p>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&#8217;s question about the course): <em> </em></p>
<p><em>&#8220;The bottom line&#8230; Everything in the course is the way Dean says it is&#8230; Period. It&#8217;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, <a href="../../../../../../preorder" target="_blank">just meat and potatoes</a>.&#8221; </em></p>
<p>So, If you don&#8217;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&#8217;t be charged. Period.</p>
<p>If you like the course, you&#8217;ll keep it, and you will pay after 30 days in three EASY monthly payments.</p>
<p>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!</p>
<p>It&#8217;s as easy as that&#8230;</p>
<p>You don&#8217;t like it?</p>
<p>Send it back within 90 days and I simply refund you all your money. No questions asked.</p>
<p>I think you will agree that it doesn&#8217;t get much more straightforward than that.</p>
<p>This market is Yours!</p>
<p>We have 2-3 really good years ahead of us. Right NOW! Don&#8217;t miss it.</p>
<p>&#8216;Mhhhh, <a href="../../../../../../preorder" target="_blank">should I RISK that dollar?</a> Should I not risk that dollar&#8230;? <a href="../../../../../../preorder" target="_blank">Should I risk that dollar?</a> Should I not risk that dollar?&#8217;</p>
<p>You be the judge.</p>
<p>Tomorrow never comes.</p>
<p>To your success t.o.d.a.y.,</p>
<p>Dean PS: I have never done this before and I hope it&#8217;s not gonna turn out as a big &#8216;let&#8217;s take advantage of Dean&#8217; extravaganza. But I feel it&#8217;s the right thing to do, and it will help a lot of people ON THE FENCE (you?) to <a href="../../../../../../preorder" target="_blank">TAKE ACTION</a> &#8211; and in a safe, risk-free way.</p>
<p>Any questions or comments? Just call us at 718-783-7605 or simply leave a comment below and type away.</p>
<br/><br/>]]></content:encoded>
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		<title>Buy Notes &#8211; Hitting a Put Shot with a 9-Iron&#8230;</title>
		<link>http://www.notebuyingprofits.com/blog/586/buy-notes-hitting-a-put-shot-with-a-9-iron/</link>
		<comments>http://www.notebuyingprofits.com/blog/586/buy-notes-hitting-a-put-shot-with-a-9-iron/#comments</comments>
		<pubDate>Wed, 22 Apr 2009 20:25:08 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[buy notes]]></category>
		<category><![CDATA[buy nots from banks]]></category>
		<category><![CDATA[buying defaulted notes from banks]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[buying notes from banks]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=586</guid>
		<description><![CDATA[Buy notes:
I just got off the phone with the Sr. Vice President
of a California bank in charge of note sales, and a note broker friend of mine who
set up the call.
The SVP has 3 non-performing loans &#8211; they&#8217;re
commercial loans in the LA area &#8211; but ignore the fact
that they&#8217;re commercial right now.
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-
* * * A [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Buy notes:</strong></p>
<p>I just got off the phone with the Sr. Vice President<br />
of a California bank in charge of note sales, and a note broker friend of mine who<br />
set up the call.</p>
<p>The SVP has 3 non-performing loans &#8211; they&#8217;re<br />
commercial loans in the LA area &#8211; but ignore the fact<br />
that they&#8217;re commercial right now.</p>
<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<br />
<strong>* * * A Buy Notes Lesson about Golf Clubs and why to<br />
Communicate with Your Borrower * * *</strong><br />
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-</p>
<p>Stay with me here <img src='http://www.notebuyingprofits.com/blog/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </p>
<p>So the SVP told me that one of the loans has a<br />
foreclosure sale scheduled 2 weeks from now.</p>
<p>And that she hasn&#8217;t spoken to the borrower (a<br />
builder/developer) in several months.</p>
<p>I asked her if she was concerned about the loans or<br />
not, and if she was worried about whether she would<br />
have any problems taking over the properties through<br />
the foreclosure.</p>
<p>She answered: &#8220;No, because we feel the value of the<br />
properties is sufficient to pay off our loan.&#8221;</p>
<p>====&gt; I was concerned about this buy notes situation.</p>
<p>Why?</p>
<p>Because if there&#8217;s one thing I&#8217;ve learned in this buying notes<br />
business:</p>
<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<br />
<strong>* * * Buying Notes: Managing the Relationship with Your Borrower is<br />
KEY in 60% of all Cases * * *</strong><br />
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-</p>
<p>And if you don&#8217;t work with your borrower, then you&#8217;re<br />
really hurting your chances of getting out of a note deal.</p>
<p>Let me explain the 60% of all cases claim.</p>
<p><strong>There are essentially 5 Buying Notes Exit Strategies for all Loans:</strong></p>
<p>* Reperformance</p>
<p>* Refinance</p>
<p>* Short sale or deed-in-lieu</p>
<p>* Note sale</p>
<p>* Foreclosure</p>
<p>=&gt; Only 2 of those plays, foreclosure and note sale,<br />
can succeed without any communication at all with the<br />
borrower.</p>
<p>But the risk that the foreclosure runs &#8211; and<br />
foreclosure is the path that the banker is taking in<br />
this example &#8211; is that the borrower may file for<br />
bankruptcy and postpone the time when you recover the<br />
property.</p>
<p>Take this buying notes advice from me:</p>
<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<br />
<strong>Make Fantastic Returns when Buying Notes<br />
without having to foreclose or<br />
to sell the note on to someone else</strong><br />
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;</p>
<p>If that&#8217;s true, then losing contact with your<br />
borrower essentially kills 60% of your note buying exits (3 of the<br />
5).</p>
<p>Would a professional golfer get onto a course with<br />
only 5 of 12 clubs?</p>
<p>Would that be somewhat limiting to their game?</p>
<p>Probably.</p>
<p>But boy would it look funny hitting a putt with a 9-<br />
iron.</p>
<p>So my note buying advice to you is:</p>
<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<br />
<strong>* * * Note Buying Exit Strategies: Don&#8217;t ever limit yourself if<br />
you can avoid it * * *</strong><br />
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-</p>
<p>Much as it can be painful or unappealing to some of<br />
you &#8211; working WITH your borrower is essential when you buy notes.</p>
<p>That was the advice I gave to the SVP at the LA bank<br />
today.</p>
<p>We&#8217;ll see if she takes my advice &#8211; we&#8217;ll be tracking<br />
her nonperforming notes to see if any of them end up in bankruptcy.</p>
<p>And if those notes do &#8211; there&#8217;s a good chance that she&#8217;ll<br />
regret not having kept in touch with her borrower.</p>
<p>Dean</p>
<p>PS: Did you enjoy this information? If so, my <a href="../../../../../../preorder" target="_blank">note<br />
buying course</a> is full of no-fluff info like it.<br />
16 hours to be exact.</p>
<p>And 4 hours just on the 5 Exit Strategies alone.</p>
<p>(Already own the course? Did you really extract all<br />
the info you could out of it yet?<br />
I am confident that, if you didn&#8217;t go through it at least<br />
TWICE, you are not getting all your value out of it&#8230;</p>
<p>Hope you enjoyed this post on how to buy notes.</p>
<br/><br/>]]></content:encoded>
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		<title>Note Buying: FREE Report reveals Insane Note Buying and Defaulted Mortgages Buying Opportunity</title>
		<link>http://www.notebuyingprofits.com/blog/568/note-buying-free-report-reveals-insane-note-buying-and-defaulted-mortgages-buying-opportunity/</link>
		<comments>http://www.notebuyingprofits.com/blog/568/note-buying-free-report-reveals-insane-note-buying-and-defaulted-mortgages-buying-opportunity/#comments</comments>
		<pubDate>Tue, 14 Apr 2009 16:18:43 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Doc download]]></category>
		<category><![CDATA[Newbie Topic]]></category>
		<category><![CDATA[Real-Life Case Studies]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[note buying forum]]></category>
		<category><![CDATA[note bying]]></category>
		<category><![CDATA[notebuying]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=568</guid>
		<description><![CDATA[On Note Buying:
I just put together a short new, free Note Buying Video
on our homepage at www.NoteBuyingProfits.com for you.
Plus, I put together a FREE 20-page Note Buying Report, called
&#8216;The Great Recession Buster Report&#8217; for you as well.
You can get it right on the homepage at www.NoteBuyingProfits.com
In it I share some of my path from Frustrated [...]]]></description>
			<content:encoded><![CDATA[<p>On <strong>Note Buying</strong>:</p>
<p>I just put together a short new, <a href="http://www.notebuyingprofits.com"><strong>free Note Buying Video</strong></a><br />
on our homepage at <a href="http://www.notebuyingprofits.com">www.NoteBuyingProfits.com</a> for you.</p>
<p>Plus, I put together a <strong>FREE 20-page Note Buying Report</strong>, called<br />
<strong>&#8216;The Great Recession Buster Report&#8217;</strong> for you as well.<br />
You can get it right on the homepage at <a href="http://www.notebuyingprofits.com">www.NoteBuyingProfits.com</a></p>
<p>In it I share some of my path from Frustrated Cubicle Dweller<br />
to Short Sale &#8216;Slave&#8217; to&#8230; drum roll&#8230; &#8216;robbing&#8217; banks (legally,<br />
of course) &#8211; and how YOU can, too.</p>
<p>It&#8217;s 100% F.REE and I bet you will learn a thing or two, and<br />
you can probably identify with parts of my note buying journey<br />
yourself.</p>
<p>If only ONE person reads this &amp; gets inspired to TAKE ACTION<br />
and take advantage of the insane note buying o.pportunity out<br />
there (yes, it takes something to NOT listen to the nay-sayers and<br />
dream stealers!), I will be happy that I took the time<br />
to write it.</p>
<p>Feel free to pass this on to your Real Estate buddies as well,<br />
they may be quite &#8217;shocked&#8217; to learn about this. ;P</p>
<p>Let&#8217;s face it: 95%+ of them have absolutely<br />
NO CLUE about note buying and this o.pportunity&#8230;</p>
<p>Check it out at <a href="http://www.notebuyingprofits.com">www.NoteBuyingProfits.com</a> now!<br />
(Did I mention it was F.REE? <img src='http://www.notebuyingprofits.com/blog/wp-includes/images/smilies/icon_wink.gif' alt=';)' class='wp-smiley' /> )</p>
<p>Talk soon,</p>
<p>Dean</p>
<p>PS: Let me know what you thought of it by leaving a COMMENT BELOW.<br />
Would love to hear your thoughts on the Video &amp; the Report.<br />
What did you like best? Worst?</p>
<p>What is your biggest concern to get into the note buying game?</p>
<p>=================================</p>
<p>* Check out our NEW FORUM: <a href="http://www.NoteBuyingProfits.com/forum">www.NoteBuyingProfits.com/forum</a></p>
<p>* Ready to REALLY get down &amp; dirty?<br />
&#8216;<a href="http://www.notebuyingprofits.com/preorder.html">A-Z Profiting from Discounted Mortgages Business-in-a-Box</a>&#8216;.<br />
-&gt; 16 hours+ of Video Training, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Appendix-Sample.pdf">23 pages of checklists</a>, <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/NBP-Roadmap-Sample.pdf">a complete 8-Week Roadmap</a>,<br />
an <a href="http://notebuyingprofits.com.s3.amazonaws.com/docs/AZtableofcontents.pdf">extensive Table of Contents</a> for quick reference, plus TONS of Bonuses.<br />
[===&gt; You can check out <a href="http://www.notebuyingprofits.com/freenotebuyingresources.html">Hours of F.REE Training Videos of the actual Course Content HERE</a>.]</p>
<p>* <a href="http://www.notebuyingprofits.com/privateaccessclub.html">&#8216;PRIVATE ACCESS CLUB&#8217; (PAC) &#8211; Test-Drive it for F.REE for 30 Days!</a><br />
Get Your Questions Answered LIVE &amp; get Ongoing Support &amp; Training!<br />
Conference Calls/Webinars, Interviews with Industry Insiders (Bank Reps, Top Note Brokers, etc.),<br />
Real-Life Case Studies, Role-Playing, and &#8216;HOT SEATS&#8217; to get coaching on<br />
Your Deals/Business Challenges, and more</p>
<p>* Questions? Chances are I already answered them at www.NoteBuyingProfits.com/blog.<br />
(Use the &#8216;Search&#8217; feature or click on the &#8216;FAQ&#8217; category on the right to see them all!)</p>
<p>* Want to make Easy M.oney telling Your RE Buddies about our Kick-A** Products? <a href="http://www.notebuyingprofits.com/affiliates">Click here</a>.</p>
<br/><br/>]]></content:encoded>
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		<title>How to Buy Notes &#8211; Know Your Note Buying &#8216;Enemies&#8217;</title>
		<link>http://www.notebuyingprofits.com/blog/560/how-to-buy-notes-know-your-note-buying-enemies/</link>
		<comments>http://www.notebuyingprofits.com/blog/560/how-to-buy-notes-know-your-note-buying-enemies/#comments</comments>
		<pubDate>Sat, 11 Apr 2009 14:35:16 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Finding]]></category>
		<category><![CDATA[Real-Life Case Studies]]></category>
		<category><![CDATA[buying nonperforming notes]]></category>
		<category><![CDATA[defaulted mortgages]]></category>
		<category><![CDATA[discounted mortgages]]></category>
		<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[how to buy bank loans]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[how to buy notes from banks]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>
		<category><![CDATA[real estate investing]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=560</guid>
		<description><![CDATA[On How to Buy Notes:
You&#8217;ve probably heard of Sun Tzu&#8217;s (the famed Chinese
warrior) instruction to his soldiers to &#8220;know your
enemy&#8221; before going into battle.
Well the same is true with note buying.
&#8220;Know your seller&#8221; should be the mantra for every
note buyer (and broker for that matter!).
Why?
Because if you don&#8217;t &#8220;know&#8221; your note seller then you
might be [...]]]></description>
			<content:encoded><![CDATA[<p>On <strong>How to Buy Notes:</strong></p>
<p>You&#8217;ve probably heard of Sun Tzu&#8217;s (the famed Chinese<br />
warrior) instruction to his soldiers to &#8220;know your<br />
enemy&#8221; before going into battle.</p>
<p>Well the same is true with note buying.</p>
<p>&#8220;Know your seller&#8221; should be the mantra for every<br />
note buyer (and broker for that matter!).</p>
<p>Why?</p>
<p>Because if you don&#8217;t &#8220;know&#8221; your note seller then you<br />
might be entering a negotiation with them without<br />
having any idea of their key negotiating points.</p>
<p><strong>Let me give you an how-to-buy-notes example</strong>,<br />
based on a note we recently bid on:</p>
<p>A bank has a 1st mortgage on a single family home in<br />
Salt Lake City that they want to sell.</p>
<p>The borrower hasn&#8217;t paid on the note in over 120<br />
days, and the note matured over 2 months ago, so the<br />
whole loan could be called due.</p>
<p>The bank hasn&#8217;t served the borrower with a<br />
foreclosure notice.</p>
<p>And they&#8217;ve called you in order to find out if you<br />
want to buy their non-performing note and mortgage.</p>
<p>I looked at this loan first from the standpoint of<br />
price &#8211; how much could I offer for it. We pulled a<br />
title report and a BPO and looked at comps that a<br />
local realtor provided to us.</p>
<p>And we put in our bid.</p>
<p>My rep at the bank hinted that she would need<br />
approval from a committee of senior staff at the bank.</p>
<p>But she was very cagey about answering any of my<br />
questions about where she needed pricing to be in<br />
order to sell, and what the status of the borrower was.</p>
<p>I became a little suspicious and tried probing for<br />
more information, but she immediately clammed up and<br />
said: &#8220;I&#8217;m not at liberty to say more about our<br />
borrower.&#8221;</p>
<p>Something was up in this note buying deal.</p>
<p>It was odd that the bank rep would react that way -<br />
in fact it was the first time I&#8217;d seen that kind of a<br />
response to an individual loan before.</p>
<p><strong>How-to-Buy-Notes Tips when talking to the Banker</strong></p>
<p>So I called her back again, and tried a little<br />
&#8220;exploratory&#8221; language with her.</p>
<p>&#8220;Would it be safe to say that the bank has a unique<br />
relationship with this borrower?&#8221; I asked her?</p>
<p>&#8220;Absolutely,&#8221; she immediately replied.</p>
<p>I was curious &#8211; what was going on here<br />
in this defaulted mortgage deal?!</p>
<p>So I kept fishing, understanding full well that she<br />
couldn&#8217;t reveal any information to me, but that she<br />
wasn&#8217;t opposed to my pressing for more information as<br />
long as she could answer in yes or no terms.</p>
<p>&#8220;And there&#8217;s a reason why the bank isn&#8217;t foreclosing<br />
in this case, correct?&#8221; I asked.</p>
<p>&#8220;Yes,&#8221; she answered simply.</p>
<p>&#8220;And you&#8217;re probably not at liberty to tell me, but<br />
this sounds like it&#8217;s a difficult relationship for the<br />
bank to foreclose on, is that correct?&#8221;</p>
<p>&#8220;Absolutely,&#8221; she answered again. &#8220;I can&#8217;t tell you<br />
any more than that.&#8221;</p>
<p>&#8220;One last question,&#8221; I asked. &#8220;Is it safe to assume<br />
that the bank may be more open to a bid on this loan<br />
that clarifies what exit strategy we&#8217;ll be pursuing<br />
with the borrower rather than an actual purchase price<br />
for the nonperforming note?&#8221;</p>
<p>&#8220;Yes,&#8221; she answered briefly again. &#8220;That would be<br />
correct.&#8221;</p>
<p>So what was going on in this note deal?</p>
<p>Well, what I learned in two more phone calls with the<br />
woman I was negotiating with at the Bank was that the<br />
borrower was extremely well connected in Salt Lake<br />
City political circles, and her ex-husband was a close<br />
friend of the bank&#8217;s President.</p>
<p>Foreclosing on her could create a political ruckus<br />
for the bank, it turned out. So the bank was exploring<br />
discreet options to rid itself of its non-performing<br />
loan &#8211; namely via a note sale to a 3rd party investor.</p>
<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<br />
<strong>* The lesson you should take from this How to Buy Notes example * </strong><br />
&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;</p>
<p>If you don&#8217;t take the time to probe WHY the seller is<br />
looking to sell a loan, and the circumstances around<br />
the sale, you may completely miss the seller&#8217;s key<br />
negotiating points on a transaction.</p>
<p>In this case, it wasn&#8217;t price. It was what we were planning<br />
on doing to work out the note with the borrower.<br />
Price was much less of an issue.<br />
<strong></strong></p>
<p><strong>Your how to buy Notes Action Items from this:</strong></p>
<p>1)    Always try to understand WHY a bank wants to sell<br />
you a note or a pool of notes.</p>
<p>2)    Try to find out what the key negotiating points<br />
are for the bank for selling you this defaulted mortgage</p>
<p>Usually it&#8217;s one or more of the<br />
following:</p>
<p>a.    Price</p>
<p>b.    Speed with which you can close</p>
<p>c.    Your ability to close (in other words, the Bank<br />
cares more about WHETHER you can close rather than<br />
what price they Buyer is offering for the discounted note)</p>
<p>d.    Your note buying exit strategies (in other words, the<br />
bank may determine whether to accept a bid or not based<br />
on what kind of Buyer you are &#8211; are you a foreclosure<br />
operation with no attempt at loan modifications, for<br />
example?)</p>
<p>So keep all this in mind when you&#8217;re next talking to<br />
a Bank to buy notes.</p>
<p>It&#8217;ll make you that much better a note buying warrior!</p>
<p>Talk soon,</p>
<p>Dean<br />
PS: If you enjoy this kind of no-fluff info, you will be delighted<br />
with our <a href="../../../../../../preorder" target="_blank">A-Z NoteBuying Course</a>. It&#8217;s full of it!<br />
(And our insane 33%-off Special will not go on forever. Hint, hint.)</p>
<p>And to say it in the words of  Josh Gray<br />
from UpgradedProperties.com in Chandler, AZ, who put the<br />
following (unsolicitedly, I might add) on our forum:</p>
<p>&#8220;Dean, I truly appreciate all the information you have provided in<br />
the A-Z Course. I have read ALL the competition&#8217;s materials and<br />
it comes nowhere near yours.&#8221;</p>
<br/><br/>]]></content:encoded>
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		<title>How to Buy Notes &#8211; Are We distressed yet?</title>
		<link>http://www.notebuyingprofits.com/blog/515/how-to-buy-notes-are-we-distressed-yet/</link>
		<comments>http://www.notebuyingprofits.com/blog/515/how-to-buy-notes-are-we-distressed-yet/#comments</comments>
		<pubDate>Fri, 03 Apr 2009 21:37:24 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Finding]]></category>
		<category><![CDATA[Market Updates]]></category>
		<category><![CDATA[Videos]]></category>
		<category><![CDATA[finding notes]]></category>
		<category><![CDATA[how to buy notes]]></category>
		<category><![CDATA[how to find notes]]></category>
		<category><![CDATA[note buyiing]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=515</guid>
		<description><![CDATA[On how to buy Notes (Make sure you check our the VIDEO below!):
First things first: I got a ton of emails from folks who got our news on the 40%-off special with Special Code &#8216;nofool&#8217; too late.
So, we are leaving that up until Sunday Night.
CLICK HERE if you are ready to take action on that, [...]]]></description>
			<content:encoded><![CDATA[<p>On <strong>how to buy Notes</strong> (Make sure you check our the <strong>VIDEO below</strong>!):</p>
<p>First things first: I got a ton of emails from folks who got our news on the 40%-off special with Special Code &#8216;nofool&#8217; too late.</p>
<p>So, we are leaving that up until Sunday Night.<br />
<a href="http://www.notebuyingprofits.com/preorder">CLICK HERE</a> if you are ready to take action on that, and<br />
use &#8216;nofool&#8217; as Special Code. (Need further outside &#8217;social<br />
proof&#8217; that my note buying course really works? <a href="http://notebuyingprofits.com/forum/viewtopic.php?f=18&amp;t=109">READ THIS</a>,)<br />
****************************************</p>
<p>But back to why I am writing you:</p>
<p>I just got back from a distressed debt conference in<br />
Los Angeles and some of the numbers we&#8217;re looking at<br />
are enormous.</p>
<p>Check out this short Video I did for you to share some<br />
of my <strong>note buying findings</strong> with you:<br />
<script src="http://www.notebuyingprofits.com/embed/swfobject.js" type="text/javascript"></script></p>
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<p>Here&#8217;s one estimate for the amount of distressed<br />
whole loans (e.g. mortgages and notes that you and I<br />
could buy as individual loans) in the note buying marketplace<br />
today:</p>
<p>$3-4 Trillion.</p>
<p>This puts a lot of things into<br />
perspective in terms of the number of transactions<br />
that translates into for you and me and the entire Non-<br />
-Performing buyer marketplace in the United States<br />
today.</p>
<p><strong>Buying Notes</strong> is something to take advantage of NOW &#8211; and with<br />
potential FDIC financing, this could be very<br />
interesting.</p>
<p>For those of you who are looking for some additional<br />
insight (see the note at the end of this piece re:<br />
another person&#8217;s assessment of the size of the whole<br />
loan market &#8211; and note how wide ranging estimates<br />
are!):<br />
http://www.cumber.com/commentary.aspx?file=032909.asp&amp;n=l_mc</p>
<p>Regards,</p>
<p>Dean</p>
<p>PS: Again, we are leaving the <a href="http://www.notebuyingprofits.com/preorder">40%-off SPECIAL</a> up until Sunday night,<br />
if it&#8217;s time for YOU to benefit from this market and leave the whiners and<br />
nay-sayers in the dust.</p>
<br/><br/>]]></content:encoded>
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		<item>
		<title>How to buy Mortgages from Banks &#8211; The 4 Buckets in the Note Buying Industry</title>
		<link>http://www.notebuyingprofits.com/blog/511/how-to-buy-mortgages-from-banks-the-4-buckets-in-the-note-buying-industry/</link>
		<comments>http://www.notebuyingprofits.com/blog/511/how-to-buy-mortgages-from-banks-the-4-buckets-in-the-note-buying-industry/#comments</comments>
		<pubDate>Tue, 24 Mar 2009 20:42:34 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Finding]]></category>
		<category><![CDATA[Market Updates]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[buying notes from banks]]></category>
		<category><![CDATA[how to buy a mortgage from a bank]]></category>
		<category><![CDATA[how to buy mortgages from banks]]></category>
		<category><![CDATA[how to buy notes from banks]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[note buying industry]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>

		<guid isPermaLink="false">http://www.notebuyingprofits.com/blog/?p=511</guid>
		<description><![CDATA[On How to buy Mortgages from Banks
Here is a question I got asked recently:
&#8220;My understanding is the federal  government is going
to be offering financing to private equity and  hedge
funds to buy up the bad debt.
If anything it would seem this  would at the very
least invite a whole heck of a lot of [...]]]></description>
			<content:encoded><![CDATA[<p><strong>On How to buy Mortgages from Banks</strong></p>
<p>Here is a question I got asked recently:</p>
<p>&#8220;My understanding is<strong> the federal  government is going<br />
to be offering financing to private equity and  hedge<br />
funds to buy up the bad debt.</strong></p>
<p>If anything it would seem this  would at the very<br />
least invite a whole heck of a lot of competition.</p>
<p><strong>What  are your thoughts on this?</strong>&#8221;</p>
<p>Well, here are my thoughts:</p>
<p>I&#8217;ll address your concern in detail on 3/25 in<br />
our <a href="../../../../../../privateaccessclub.html" target="_blank">Private Access Club live webinar</a>.<strong> </strong></p>
<p><strong>* * * The &#8220;Competition&#8221; merely adds to the<br />
Deal Source for buying mortgages from banks * * *</strong></p>
<p><strong>====&gt; There  are 4 &#8220;buckets&#8221; in the note industry: </strong></p>
<p>a) Big boys &#8211; buying $100M and  above</p>
<p>b) Mid boys &#8211; buying $20-100M</p>
<p>c) Small boys &#8211; buying $1-20M</p>
<p>d) Mom and pops &#8211; buying &lt;$1M</p>
<p>The majority of the shuffling  is happening, in my<br />
opinion, at the big and mid-boy stage, in terms of  raw<br />
dollars.</p>
<p>Now, think about their financials for a sec:  these<br />
are investors, not originators.</p>
<p>=&gt; They&#8217;re hungry for yield.<br />
<strong><br />
If you&#8217;re a Mom and Pop or a Small boy, the Mid and<br />
Big boys are now Deal Sources to buy Notes for You!</strong></p>
<p>They&#8217;re looking for a big IRR (e.g. quick flip)  and<br />
they&#8217;re buying more competitively than the Small boys<br />
and the mom and  pops.</p>
<p>VIEW THEM AS NOTE BUYING DEAL SOURCES, partner up with<br />
them, come up with  some transparent &#8220;Cost plus 5&#8243; type of<br />
approach where you give them 5 points  in exchange for<br />
cherry-picking their portfolio and piggy-backing off<br />
their  due diligence, and why wouldn&#8217;t they be<br />
interested in selling notes to you?</p>
<p>Trickle-down. (I will talk much more in detail on that on<br />
tomorrow&#8217;s  <a href="../../../../../../privateaccessclub.html" target="_blank">Private Access Club webinar</a>.)</p>
<p>So if you&#8217;re worried  about the drip from the water<br />
fountain (or the firehose!) being intercepted  in some<br />
way, just shift yourself a little so that you catch<br />
the drips from  the guy who just got in front of you.</p>
<p>And you can always go look for  another water fountain<br />
to buy mortgages aka nonperforming notes.</p>
<p><strong>I assure you that the Mid and Big boys are NOT  out<br />
there building relationships with the 8,000+ FDIC<br />
insured banks. </strong></p>
<p>And last time I checked, those 8,000 have a few non-<br />
performing notes  in their portfolios!</p>
<p>Hope this was useful (and inspirational)  information for you.</p>
<p><a href="../../../../../../privateaccessclub.html" target="_blank">Talk to you on the Private Access Club webinar?</a></p>
<p>It&#8217;s time to TAKE MASSIVE  ACTION.</p>
<p>It&#8217;s all out there, for those that choose to see the buying notes<br />
opportunity (and ignore the naysayers &amp;&#8217;recession  whiners&#8217;).</p>
<p>Dean</p>
<p>PS: BTW, this was originally a post in our  forum.<br />
To see some responses by some of your peers,<br />
<a href="../../../../../../forum/viewtopic.php?f=4&amp;t=147&amp;p=352#p352" target="_blank">check out the original thread here.</a></p>
<p>Or, you know  what&#8230;</p>
<p>Some of the other comments were so valuable, I want to<br />
make  sure you read them.</p>
<p><strong>See what Will had to add to this:</strong></p>
<p>&#8220;Yes, there  is pretty healthy window, an &#8220;area&#8221; where<br />
the mom and pop and small  operations can work with the<br />
mid boys and Big boys.</p>
<p>Where you can  either profit by<br />
purchasing directly from these big boy investors,  or<br />
develop the right relationships by getting the word<br />
out there that you  are a direct source for obtaining<br />
defaulted assets.</p>
<p>If one of these  mid size to big boys<br />
know you can bring them pools of 10-50M  (residential<br />
or commercial) and they don&#8217;t have to go take the time<br />
to  find and form those relationships with the right<br />
people themselves &#8230;then  you become VERY valuable.</p>
<p>At that level, the big boys are looking for  convenience<br />
and efficiency in order to simply &#8220;stay on course&#8221;  of<br />
investing and exiting.</p>
<p>I believe the more well rounded<br />
you  become, the more you master this industry, whether<br />
that is by brokering or  being a principal bidder, the<br />
more opportunities will be presented to you.</p>
<p>All I have seen in the few months since I&#8217;ve been involved<br />
has been  an enormous need and really, a desire for<br />
people to connect with others&#8230;to  work with each<br />
other.</p>
<p>There are so many more bridges to be  formed.</p>
<p>&#8220;I assure you that the Mid and Big boys are NOT out<br />
there  building relationships with the 8,000+ FDIC<br />
insured banks.&#8221;</p>
<p>In that  one statement, if truly recognized, lies HUGE<br />
opportunity.</p>
<br/><br/>]]></content:encoded>
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		<title>Buy and Sell Real Estate Notes &#8211; on Cash for Keys&#8230;</title>
		<link>http://www.notebuyingprofits.com/blog/502/buy-and-sell-real-estate-notes-on-cash-for-keys/</link>
		<comments>http://www.notebuyingprofits.com/blog/502/buy-and-sell-real-estate-notes-on-cash-for-keys/#comments</comments>
		<pubDate>Wed, 04 Mar 2009 20:08:07 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[FAQ]]></category>
		<category><![CDATA[buy and sell real estate notes]]></category>
		<category><![CDATA[buy real estate notes]]></category>
		<category><![CDATA[note buyiing course]]></category>
		<category><![CDATA[note buying]]></category>
		<category><![CDATA[note buying course]]></category>
		<category><![CDATA[note bying]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>
		<category><![CDATA[sell real estate notes]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=502</guid>
		<description><![CDATA[Buy and Sell Real Estate Notes and on Cash for Keys:
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 &#38; are
contributing on how to buy and sell real estate notes.
So, use the POWER OF COMMUNITY and sort [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Buy and Sell Real Estate Notes and on Cash for Keys:</strong></p>
<p>Not sure if you noticed, but our<br />
<a href="http://www.notebuyingprofits.com/forum">Note Buying Forum</a> is gaining some<br />
momentum and there is some lively discussion on there<br />
now.</p>
<p>Plus some really smart folks are hanging out &amp; are<br />
contributing on how to buy and sell real estate notes.</p>
<p>So, use the POWER OF COMMUNITY and sort through it,<br />
ask questions, and share your knowledge with others.</p>
<p>We all know something about Note Buying that others don&#8217;t. <img src='http://www.notebuyingprofits.com/blog/wp-includes/images/smilies/icon_wink.gif' alt=';)' class='wp-smiley' /> </p>
<p>I just posted a response to a thread on<strong> C.ash for<br />
Keys when buying and selling Real Estate Notes</strong><br />
on there, that I think will be of value to you, so I<br />
am posting it here as well:<br />
(You can check the whole thread, incl. the other<br />
posts in it as well, <a href="http://www.notebuyingprofits.com/forum/viewtopic.php?f=13&amp;t=26&amp;p=279#p279" target="_blank">right here</a>.)</p>
<p>========================</p>
<p>&#8230;</p>
<p>Here&#8217;s an aha on the C4K debate.</p>
<p>Assume no jr lienholders.</p>
<p>In CA, I could find buyers willing to pay 75% of<br />
market value for an REO.</p>
<p>In CA, I could roughly buy non-performing notes aka<br />
Real Estate Notes for 50% of market value.</p>
<p>So the act of taking a property to sale, and<br />
eliminating primarily the Bk risk, is worth a full 25%<br />
of the home&#8217;s value.</p>
<p>Always keep this in mind buying and selling Real Estate Notes!</p>
<p>So, let me go through some numbers:</p>
<p>$100,000 home&#8217;s market value<br />
$150,000 1st mortgage<br />
$50,000 purchase price</p>
<p>How much $ should I offer the Homeowner in a C4K<br />
offer?</p>
<p>Well, let&#8217;s say we offered $15,000. What would the<br />
yield be on that investment, assuming the homeowner<br />
accepted, and we took 4 months from purchase of note<br />
to sale of REO?</p>
<p>The answer would be ~45%.</p>
<p>You spent $50,000 to buy the note, and another<br />
$15,000 to get the deed, and you sold the house for<br />
$75,000 in 1/3 of a year, so take the yield and<br />
multiply it roughly by 3 to get the annualized return.</p>
<p>The aha is then that I should be justified paying up<br />
to 15% of the home&#8217;s value, in order to transform my<br />
Deed of Trust into a Deed. The time savings is<br />
substantial, and the net impact on yield is<br />
significant.</p>
<p>So before you skimp on the C4K offer and think &#8220;damn<br />
borrower, you don&#8217;t deserve a penny!&#8221;, run some<br />
numbers on the impact having Deed could afford you<br />
today!</p>
<p>===============</p>
<p>Be your success &amp; go out there and TAKE ACTION!</p>
<p>Sorry that I haven&#8217;t been in touch more, but I am</p>
<p>about to close on a pretty large pool of real estate notes<br />
(more on that another time), plus we are in the middle of<br />
preparing the new module on &#8216;<a href="http://www.notebrokerprofits.com">brokering notes</a>&#8216;.</p>
<p>If you are already a member of the <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">Private Access Club (PAC)</a>:<br />
get ready for the return of Saprina, the veteran bank rep,<br />
for some serious LIVE training next week on how to talk<br />
to the bank when you buy real estate notes.</p>
<p>If you are not a PAC member yet: WHAT ARE YOU WAITING FOR?</p>
<p>Tomorrow never comes&#8230;</p>
<p>And I have taken all the Risk away from you:</p>
<p>There is a <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">30-day f.ree trial</a> and a crazy amount of hours of<br />
Killer recordings in the members area, plus ongoing live<br />
webinars/calls.</p>
<p>If you are only remotely interested in getting<br />
into buying notes:</p>
<p><strong>How much could role-playing with an actual Veteran<br />
Bank Rep &amp; her CANDID feedback/coaching be worth to you??</strong></p>
<p>Hint, hint: it could mean your jump-start into the real estate note<br />
buying business -<br />
transitioning from theory into PRACTICE &#8211; and not being<br />
scared by &#8216;Ohhhh, I don&#8217;t know what to say when calling those<br />
banks to buy notes&#8230;&#8217; &#8211; but rather knowing EXACTLY what to say!</p>
<p>The information is all here, for those that choose to see it.</p>
<p>Here is what some of the guys that TOOK ACTION recently E-mailed<br />
me (and I didn&#8217;t ask them to &#8216;write me s/th nice&#8217;, btw):</p>
<p>&#8220;I truly appreciate all the information you have provided and taught<br />
in the <a href="http://www.notebuyingprofits.com/preorder">A-Z Note Buying Course</a>. I have read ALL of the competition&#8217;s material and<br />
it comes nowhere near yours.&#8221;<br />
Josh Gray, Chandler, AZ</p>
<p>Or this one:</p>
<p>&#8220;By the way, Dean, it&#8217;s almost embarrassing what I know now compared<br />
to just 2 1/2 months ago, when I ordered your <a href="http://www.notebuyingprofits.com/preorder">note buying course</a>.<br />
It&#8217;s downright silly!&#8221;<br />
Will Seminario from FL</p>
<p>Will YOU be next in taking this info &amp; going to town with it and buy and<br />
sell Real Estate Notes as your business?</p>
<p>I can only give you the info. The Action-Taking Part you will have to do on your own.</p>
<p><a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">See you on the other side</a>?</p>
<p>To your success,</p>
<p>Dean</p>
<br/><br/>]]></content:encoded>
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		<title>Buying Defaulted Loans: Banker needs some handholding&#8230;</title>
		<link>http://www.notebuyingprofits.com/blog/482/buying-defaulted-loans-banker-needs-some-handholding/</link>
		<comments>http://www.notebuyingprofits.com/blog/482/buying-defaulted-loans-banker-needs-some-handholding/#comments</comments>
		<pubDate>Thu, 05 Feb 2009 17:16:41 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Finding]]></category>
		<category><![CDATA[Student Success Stories]]></category>
		<category><![CDATA[buying defauled loans]]></category>
		<category><![CDATA[buying defaulted loans]]></category>
		<category><![CDATA[how do I buy a defaulted loan]]></category>
		<category><![CDATA[how to buy defaulted loans]]></category>
		<category><![CDATA[investing in defaulted loans]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=482</guid>
		<description><![CDATA[On buying Defaulted Loans:
&#8220;I need some handholding &#8230;&#8221;
Those are the words that someone just shared with
Will S. this week.
Who&#8217;s Will S?
He&#8217;s an investor learning how to buy notes &#8211; who just
completed my Buying Defaulted Loans Course and has been
hitting the phones like a wild man.
He started two weeks ago, and has made 110 contacts.
How&#8217;s he [...]]]></description>
			<content:encoded><![CDATA[<p>On <strong><a href="http://notebuyingprofits.com/blog/482/buying-defaulted-loans-banker-needs-some-handholding/">buying Defaulted Loans</a>:</strong></p>
<p>&#8220;I need some handholding &#8230;&#8221;</p>
<p>Those are the words that someone just shared with<br />
Will S. this week.</p>
<p>Who&#8217;s Will S?</p>
<p>He&#8217;s an investor learning how to buy notes &#8211; who just<br />
completed my <a href="http://www.notebuyingprofits.com/preorder" target="_blank">Buying Defaulted Loans Course</a> and has been<br />
hitting the phones like a wild man.</p>
<p>He started two weeks ago, and has made 110 contacts.</p>
<p>How&#8217;s he doing in his endeavor to buy defaulted loans?</p>
<p>He just got 15 requests from banks for his company<br />
information and they&#8217;ve asked him what his buying<br />
criteria are.</p>
<p>(Ohhh, you mean this stuff really works?)</p>
<p>AND NOW GET THIS:</p>
<p>And then there&#8217;s that one special banker he just<br />
talked to yesterday. That&#8217;s the someone that just<br />
shared the words in the subject header of this email<br />
with Will.</p>
<p>* * * Pause * * *</p>
<p>Are you getting this?</p>
<p>A banker &#8230; told Will S &#8230; on the phone yesterday<br />
&#8230; &#8220;I need some handholding.&#8221;</p>
<p>&#8230;.</p>
<p>No way!<br />
&#8230;</p>
<p>Yes.</p>
<p>A banker.</p>
<p>A banker &#8211; a real employee at a small regional bank<br />
that Will called as part of his calling campaign to<br />
find banks that sell defaulted loans.</p>
<p>====&gt; The conversation went something like this:</p>
<p>Will: &#8220;Could you pass this along to the right person<br />
for me? I am interested in buying defaulted loans.&#8221;</p>
<p>Banker: &#8220;I&#8217;ve never done this. My bank&#8217;s been looking<br />
into doing this, and I think we have to have some kind<br />
of confidentiality agreement. Is that right?&#8221;</p>
<p>Will: &#8220;Yes, that&#8217;s right. I can cross out all the<br />
pertinent information on a confidentiality agreement<br />
we could use, and I can walk you through the process<br />
of how your bank could sell its defaulted loans and<br />
walk you through if I need to.&#8221;</p>
<p>Banker: &#8220;That would be great because I have a few<br />
loans that I would definitely want you to look at &#8230;<br />
I just need a little handholding.&#8221;</p>
<p>I&#8217;m not making this up!</p>
<p>Will S. &#8211; who bought the <a href="http://www.notebuyingprofits.com/preorder" target="_blank">A-Z How-to-Buy-Defaulted-Loans Course</a> on<br />
October 20, 2008, is &#8220;handholding&#8221; a banker through<br />
the process of selling his defaulted loans.</p>
<p>If Will pulls this off properly, he could be the 1st<br />
(and only) investor the bank turns to in order to sell<br />
its portfolio of non-performing notes aka defaulted loans.</p>
<p>Do you see how upside down this picture is?</p>
<p><strong>* Do you see how unsophisticated BANKS can be<br />
in selling their defaulted loans? *</strong></p>
<p><strong>Do you realize the enormity of the opportunity?</strong></p>
<p>Will could be the only investor the bank turns to in<br />
order to sell its defaulted loans.</p>
<p>That person could be YOU.</p>
<p>Will REALLY took all the golden nuggets I put<br />
into the <a href="http://www.notebuyingprofits.com/preorder" target="_blank">A-Z Buying Defaulted Loans Course</a>, and then &#8216;went to town<br />
with it&#8230;&#8217;</p>
<p>That&#8217;s all it took.</p>
<p>We&#8217;ll be following Will&#8217;s (and a lot of other<br />
students&#8217;) progress in 2009 &#8211; it&#8217;s going to be<br />
impressive.</p>
<p>So get out there and DO some handholding, and stop<br />
feeling like you need YOUR hand held.</p>
<p>YOU can be Will.</p>
<p>You can be teaching a bank how to sell its<br />
<a href="http://www.notebuyingprofits.com">defaulted loans</a>.</p>
<br/><br/>]]></content:encoded>
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		<title>How to Buy Real Estate Notes &#8211; What if the Banker says: &#8220;We don&#8217;t sell Notes?&#8221;</title>
		<link>http://www.notebuyingprofits.com/blog/454/how-to-buy-real-estate-notes-what-if-banker-says-we-dont-sell-note/</link>
		<comments>http://www.notebuyingprofits.com/blog/454/how-to-buy-real-estate-notes-what-if-banker-says-we-dont-sell-note/#comments</comments>
		<pubDate>Fri, 16 Jan 2009 19:30:53 +0000</pubDate>
		<dc:creator>notebuyingprofits.com</dc:creator>
				<category><![CDATA[Finding]]></category>
		<category><![CDATA[Newbie Topic]]></category>
		<category><![CDATA[Note Buying 101]]></category>
		<category><![CDATA[buying notes]]></category>
		<category><![CDATA[finding real estate notes]]></category>
		<category><![CDATA[how to buy a note]]></category>
		<category><![CDATA[how to find real estate notes]]></category>
		<category><![CDATA[note buying forum]]></category>
		<category><![CDATA[notebuyingprofits.com]]></category>
		<category><![CDATA[sell notes]]></category>

		<guid isPermaLink="false">http://notebuyingprofits.com/blog/?p=454</guid>
		<description><![CDATA[On how to buy Real Estate Notes:
Here&#8217;s an email I received recently:
Hi Dean&#8230;.the PAC webinar was excellent last night.
I listened in via cell phone. Thanks much. Can&#8217;t wait
to review via archive.
I&#8217;ve been busy cold calling banks and looking for
real estate notes.
Several bank contacts have told me that either the
&#8220;bank does not sell notes&#8221; or &#8221; [...]]]></description>
			<content:encoded><![CDATA[<p>On <strong><a href="http://notebuyingprofits.com/blog/454/how-to-buy-real-estate-notes-what-if-banker-says-we-dont-sell-note/">how to buy Real Estate Notes</a>:</strong></p>
<p>Here&#8217;s an email I received recently:</p>
<p>Hi Dean&#8230;.the <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">PAC webinar</a> was excellent last night.<br />
I listened in via cell phone. Thanks much. Can&#8217;t wait<br />
to review via archive.</p>
<p>I&#8217;ve been busy cold calling banks and looking for<br />
real estate notes.</p>
<p>Several bank contacts have told me that either the<br />
&#8220;bank does not sell notes&#8221; or &#8221; the bank does not<br />
have any non-performing notes&#8221;.</p>
<p>When one hears these objections, should we accept<br />
them as the truth or just blow by them and try other<br />
contacts?</p>
<p>Thanks</p>
<p>John M.</p>
<p>[From Dean again:]</p>
<p>So, I&#8217;ve received a number of emails recently from<br />
investors telling me that they&#8217;re getting the<br />
following response from banks:</p>
<p><strong>&#8220;Sorry, we don&#8217;t <a href="http://www.notebuyingprofits.com/note-buying-exit-strategies.html">sell real estate notes</a>.&#8221; </strong></p>
<p>Or even better:</p>
<p>&#8220;<strong>We don&#8217;t have any non-performing notes</strong>.&#8221;</p>
<p>The former, I can believe.</p>
<p>The latter, I can&#8217;t.</p>
<p>If you get someone telling you: &#8220;sorry, we don&#8217;t sell<br />
notes&#8221; there&#8217;s probably a 25% chance that what they&#8217;re<br />
saying is right.</p>
<p>The best follow-up is &#8230;<br />
<strong><br />
Find someone else to call at the same bank!</strong></p>
<p>If you got in via Loss Mitigation, try getting in<br />
through the corporate HQ number and asking for the<br />
head of secondary marketing.</p>
<p>Or try asking for the CFO of the bank directly.</p>
<p><strong>If you get someone telling you: &#8220;we don&#8217;t have any<br />
non-performing notes&#8221; you know there&#8217;s a 99.99%<br />
likelihood that they&#8217;re either misleading you, or<br />
clueless. </strong></p>
<p>Most likely the former.</p>
<p>In this case, definitely reach out to someone else at<br />
the same bank.</p>
<p>Try Will&#8217;s useful tip for <a href="../../../../../456/how-to-find-notes-finding-bank-contacts-at-any-bank-nationwide/" target="_blank">finding bank contacts to buy notes</a>.</p>
<p>And in terms of <strong>*WHAT* to say to the banker:</strong></p>
<p>We have HOURS of amazing calls with various veteran<br />
bank reps in <a href="http://www.notebuyingprofits.com/privateaccessclub.html" target="_blank">the PAC membership area</a> (30-day F.ree trial&#8230;)<br />
and more live ones to come.</p>
<p>(May I say: it&#8217;s PR.ICELESS being able to listen to veteran<br />
bank reps (in charge of note sales) giving *detailed* coaching<br />
and feedback on EXACTLY what to say &#8211; what NOT to say.)</p>
<p>Plus there&#8217;s lots of detailed information<br />
on that in the A-Z <a href="http://www.notebuyingprofits.com/preorder" target="_blank">Note Buying Course</a>.</p>
<p>Hope that clarified this a bit.</p>
<p>Nothing ventured, nothing gained.</p>
<p>Dean</p>
<p>PS: I am very happy to see that it is<br />
getting busier &amp; busier in the NBP <a href="http://www.notebuyingprofits.com/forum"><strong>Note Buying Forum</strong></a></p>
<p>There are lots of smart folks chiming in already with great<br />
info. Make sure you participate!</p>
<p>Let&#8217;s leverage the power of this group!</p>
<p>Hope you enjoyed this post on <a href="http://www.notebuyingprofits.com"><strong>how to buy real estate notes</strong></a>!</p>
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