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Week 7: The 4 Sources for Bank Notes
The 8 – Week Roadmap to Launching into Notes




                                    ...
Agenda

Following the Roadmap Step by Step:
                      Step-by-Step:

•   Note Buyer Info Form – STRATEGIZE
•  ...
First – Licensing – a Revisit
• 2 Primary Sources for Advice / Legal
• “Smallest Client” for one of them?
     • $500M

• ...
Note Buyer Info Form

• Take a step back and think about your capabilities

                  Secured       Un-Secured
   ...
Note Buyer Info Form

• Take a step back and think about your capabilities
                             Secured
          ...
4 Sources: Unsolicited Offers



• Pro’s:
   • Take a minute – write down 3
• Con’s:
   • Take a minute – write down 3



...
Other Investors



• Pro’s:
   • More loans available in smaller bundles (e g
                                            ...
Brokers

• A Helpful Guide                     Bad               Good




                     Knowledge   Exclusivity   T...
Brokers – the “Ugly”
               Ugly

• A typical week with the “Ugly” Brokers
                           Ugly

      ...
Brokers – the “Ugly”
               Ugly

• A typical week with the “Ugly” Brokers
                           Ugly

      ...
Brokers – the “Ugly”
               Ugly

• A typical week with the “Ugly” Brokers
                           Ugly

DAY 4 ...
Banks



•   The 4 keys to success …
            y
    •   Go direct
    •   Be persistent (weekly)
    •   It doesn’t mat...
Finding Notes – the Checklist



•   Use the one in the Roadmap!
                             p
    •   The John example
 ...
What We Covered



•   Note Buyer Info Form
           y
•   4 Exits
•   Finding Notes – the Checklist




               ...
Next – Tips from a Broker

February 11: 5pm PT 8pm ET
                 PT,
“Brokering: 4 Tips to Get it Right” – from a “G...
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How to start buying & finding Defaulted Mortgages Nonperforming Notes Real Estate Notes

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Transcript of "How to start buying & finding Defaulted Mortgages Nonperforming Notes Real Estate Notes"

  1. 1. Week 7: The 4 Sources for Bank Notes The 8 – Week Roadmap to Launching into Notes 1
  2. 2. Agenda Following the Roadmap Step by Step: Step-by-Step: • Note Buyer Info Form – STRATEGIZE • The 4 Sources • Unsolicited • Other Investors • Brokers Bk • Banks • Finding Notes – the Checklist 2
  3. 3. First – Licensing – a Revisit • 2 Primary Sources for Advice / Legal • “Smallest Client” for one of them? • $500M • Large Specialty Servicer – 30+ clients – any of them licensed? • No • A number of states have regulatory guidelines for “acquiring” or “buying” security instruments • Future PAC session – “what’s the issue w/ licensing?” – w/one of the 2 key sources 3
  4. 4. Note Buyer Info Form • Take a step back and think about your capabilities Secured Un-Secured Un Secured $$$ 1sts Low-Touch Low Touch 2nds $$ $$ High Touch High-Touch Baseball Bat 4
  5. 5. Note Buyer Info Form • Take a step back and think about your capabilities Secured Performing Non-Performing Non Performing $$$ $$$$ 1sts Refi? Yield Yield? $$ $ 2nds Returns Multiples Refi? Returns 5
  6. 6. 4 Sources: Unsolicited Offers • Pro’s: • Take a minute – write down 3 • Con’s: • Take a minute – write down 3 6
  7. 7. Other Investors • Pro’s: • More loans available in smaller bundles (e g (e.g. trickle-down effect) • More forgiving (sometimes less forgiving Newport forgiving, Beach example) • Co-bid / simultaneous bid • Con’s: • See Newport Beach example • Less time to “get out of deals” always focused on “getting into” deals • Price-gouging 7
  8. 8. Brokers • A Helpful Guide Bad Good Knowledge Exclusivity Timing Type Good YES or NO The Bad NO The Ugly Usually YES 8
  9. 9. Brokers – the “Ugly” Ugly • A typical week with the “Ugly” Brokers Ugly DAY 1 - Tuesday ERIC “Represents” Seller “R t ” S ll FRANK “Represents” Seller p Seller? 9
  10. 10. Brokers – the “Ugly” Ugly • A typical week with the “Ugly” Brokers Ugly DAY 3 - Thursday ERIC “Represents” Seller FRANK “Represents” Seller CRAIG For “proofing up” and The “Attorney” y as “paymaster” py Seller? 10
  11. 11. Brokers – the “Ugly” Ugly • A typical week with the “Ugly” Brokers Ugly DAY 4 – Friday PETER ERIC “Seller’s Mandate” “Represents” Seller JOHN S FRANK “Seller’s Rep” “Represents” Seller 18 Hours of “Work” CRAIG MUHAMMAD with No The “Attorney” y “Seller” Seller In Sight 11
  12. 12. Banks • The 4 keys to success … y • Go direct • Be persistent (weekly) • It doesn’t matter how you get through the door … • Just know where you’re going once you get in! 12
  13. 13. Finding Notes – the Checklist • Use the one in the Roadmap! p • The John example • “I made it through!” I through! • So what do they sell? • “Gee, I don’t know …” 13
  14. 14. What We Covered • Note Buyer Info Form y • 4 Exits • Finding Notes – the Checklist 14
  15. 15. Next – Tips from a Broker February 11: 5pm PT 8pm ET PT, “Brokering: 4 Tips to Get it Right” – from a “Good” Broker February 18:Week 8 of the Roadmap – Buying Putting it Buying. all together! 15
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