BiggerPockets

Is anyone familiar with Bartmann and his "Bailout Riches" book? If you read it, was it of any value to you and your real estate investing strategies?

Iman,

I have not read his book but I became aware of him over two years ago when I stumbled upon a wonderful website ran by michael senoff.

Bartmann was interviewed by Senoff and told of how he was over a million in hock to creditors and started a debt collection agency that allowed him to get back to zero and prosper.

His story inspired me to start a business and pay off the debt that I have because working a 9-5 was not going to cut it.

He's an interesting man. Let us know what you think of his book.

Regards,
Anthony

Originally posted by Anthony E Russell

Dennis,

I had no idea. I'll check the link you posted. Thanks.

Anthony

All of these guys have a great story, it just changes as is needed.
The other day I my brother said I could be a guru, if I marketed myself right. I in jest gave him this story as my hook. Poor suburban contractor living paycheck to paycheck struggling to pay those oppressive bills for the private school his children attend and now burdened with his high honor role daughters private university tuition, finally stumbled upon the secret, no one has ever discovered technique to real estate millions. I will only be allowing a select few, for a very limited moment to buy into this dream strategy. Just for the next 10 minutes I will let you buy my system worth an astounding $49,977 for only the low price of $997. Don't let this last hope for real estate millions get away, my other students were instantly with absolutely no credit, talent, brains, credit, or money turned into millionaires! :mrgreen:

Originally posted by Iman Yusef-Yahya

Thanks guys - Keep getting emails in my inbox about this guy, actually from a much trusted newsletter I subscribe to - wanted to know if what was worth the $20, or so.

What is $20? He charges $10k when you want to "partner" with him.

Put him on your delete list.

I ordered the Book (great book) and signed up for his Partner 100 program. The Partner 100 program is where Bill Bartmann actually Partners with you to purchase non-performing assets. I have completed the both phases of the training which consist of the 2day & 5day training with Bill. I have just purchased my first portfolio of non-performing assets for book value of $123,000 for $5200!! Bill's strategies work in this business and that's why he is asked to appear on Fox Business, CNBC, and Bloomberg as an expert in the financial community.

Haha! I was thinking the same thing.

Nice ad, Tom! As others have said, you've got no credibility here on the site, and given that your review includes a plug for this guy, it is even harder to believe that you are just some random success story. We get shills all the time here, and it isn't hard to see who they are.

Perhaps if you had some information on your profile, a pic, and more then one post on the site people would take you seriously (although it looks like you've got one taker. :roll: ^^^ )

Maybe if you partook in the site people would take the post above with more than a grain of salt?

I've actually been reading the book, and I get the concept. I just won't be pursuing it because it's not a direction I want to go in.

Purchase packages of bad debt from lenders at pennies on the dollar. Borrow money to purchase them in the first place. Collect more than your debt service and the original purchase price, and you're in business.

Anyone seen the documentary, "Maxed Out"? Some of these guys are featured and their business and tactics totally turned me off - I don't want to be associated with anything like that.

Harassing, browbeating, threatening, outright lying to debtors to try to get them to pay something, anything on the debt and bring it current again so it hounds them on their credit reports.

Maybe his company had more ethics or different methods, but he doesn't reveal any of those in the book.

In my investing, I want to provide a service to people that they are happy to pay for, or at least aren't left with a bad taste after doing so. I don't want to be the guy hounding people suffering from bad past decisions and seeking to profit as much as possible from it.

Not saying all debts should be forgiven by any means.....but their credit is already ruined and the banks have written off the losses as a cost of doing business.

If I personally have an agreement or contract with someone and they blow me off, different story IMO

Workerdrone, I really appreciate you sharing your insights about the book.

Wow, that is a whole different story than we heard.....
I guess that was just to sell us his book, & try to lure us in.....