BiggerPockets

Wakefield,

Donna's course is the most expensive course I ever bought. It is a VERY COMPREHENSIVE course (about 800 pages if I recall correctly). I bought it at the Ohio REIA conference and literally within 3 days of the conference being over, I bought 2 notes that were in the foreclosure process from a local bank. I took over the bank's position and forclosed on both properties. Within 3 weeks, I made $26,000 on these 2 notes.

The information in the course allowed me to do these deals. WELL WORTH IT!

More importantly, did you do deals with the help of her course?

Do you work for Donna, Richard? Quoting her website isn't really a great way to review. What is your relation to Donna, her course, or her company?

I just saw a presentation on a web site that will sell mortgage notes nationwide. The notes will be from banks and hedge funds, performing, non-performing, etc. Are there any other sites doing this?

How 'bout this, William S?

COLLATERAL ASSIGNMENT OF PROMISSORY NOTE AND [LEASEHOLD] MORTGAGE

I wanted to buy a course on notes. I did extensive research and, as near as I could tell, the reigning expert on this topic is John D. Behle of Salt Lake City. You probably won't see his stuff on eBay.

I only just recently purchased the course, so I can't yet personally vouch for its contents. I paid $350.

This site doesn't allow affiliate links (?), so you'll have to Google for John Behle or Paper Game. He held a seminar in October 2008 (because his health is failing, his first in 8 years) and his course was updated/repackaged for that event. You can still buy it (I think it's $500) by inquiring at the discussion board he runs.

According to those familiar with both courses, the main distinction between Bauer and Behle is that Bauer teaches note brokering and Behle teaches note buying. Behle thinks learning how to broker notes is just learning a profession called note brokering. He thinks you should bypass the person buying the notes from you and buy them yourself. (Makes sense to me.)

Behle will tell you himself, "Try to buy my course on eBay," but it's rare there, which in itself tells you something. I spent several months trying to locate it and finally found someone right in my town who was willing to sell his original course at a discount because he had just attended the event for the second time and retained the original he got the first time he attended.

To say, "after you take a look..." would be to hold you up, because I won't have time to devote to his course for several weeks, maybe months. I would, however, be willing to give you the entire course on iPod. If you like it, you can buy the course somehow, which would include the very thick manual with all forms. Please contact me off-board.

I am interested in buying a defaulted note from a Bank in lieu of doing a short sale. However, most of the Loss Mit staff don't know what a note is, let alone how to sell one. Does anyone know what department would handle this and what paperwork should be submitted?
Thanks.

Your best approach is to ask, " Im looking for the person or dept which is in charge of selling your banks non-performing or defaulted mortgage loans. Who would i speak too??".

With each bank that dept varies. It could be a portfolio mananger, special assets, secondary marketing mananger or risk management,,,just to name a few.

In my experience its better to simply tell the receptionist/operator what it is that you do and follow up with whats written in the first paragraph.

Will

Originally posted by William S

Early Feb will start bidding on secured, non-performing 1st mortgages,,, straight from the bank. .

Thanks again.

William S, if you're still out there (I realize it's 6 months later now), how this is going for you by now and what course is/was most helpful in learning this business? Thanks!
Mike