Distressed Pro?

Question

I was wanting to know if anyone had used Distressed pro and how their experience is with it? Are they the best service for acquiring notes? Are there more preferred services?

Brecht Palombo · Answer

Well I'm biased but I'd say its pretty darn good...

Chris Seveney · Answer

@Dani Davenport  -Reason I ask is the bank data is easy to get and download. You can get it but not in the nice organized and pretty format that is provided with DP. If interested send me a PM and I can let you know where you can get the data for free, you just need to understand and organize it.

Forrest Surprenant · Answer

I just purchased his training package. It includes access to his Bank Prospector software. It looks very promising. I'll let bp know how things go.

Alicia Prokos · Answer

Chiming in late here, but I have the exact same questions.  I did hear Brecht Palombo say in one of the trainings on DP that he has never been asked for a proof of funds by bankers.  However, I'm guessing these bank relationships don't last too long if you can't fund the deals you say you can.

Cameron York · Answer

Thats awesome to hear and very insightful as it is very helpful that such a program exists. I watched a live webinar of Brecht explaining the service and I definitely see how helpful it can be regarding who has notes/assets to sell. And if I remember correctly, the service also helped identify if they were performing or non performing. But going off of that, I have been curious and have been asking around as to what best way to acquire these notes because even though it may be apparent that their are notes that I would like to acquire, I still have to develop a relationship with whoever is in charge of the notes whether it is a bank or credit union.

Brecht gave wonderful advice and mentioned to go for the smaller/local banks when getting started like local credit unions. But I am getting told and/or getting comments that are basically saying that I would need to be worth/have a large sum of money to even be taken seriously even get my offer in (and while I do have Investors and money to invest,how true to a degree is that?)  I made an account for Distressed Pro and am currently looking into its training program and how to go about that but was also wondering if DistressedPro is a highly advised route for buying your first notes or is better down line when you have the money and portfolio to talk to banks?

Scott Carson · Answer

DP isn't going to be the best service to help you acquire notes but it will help you identify banks who might have (or are set up with default rates and enough reserves) assets to sell.  DP will also help identify someone on Linked In from those banks that you might be able to reach to as your direct contact.

Brecht does a great job showing you how to read the quarterly reports from the FDIC and coaching you on what to do.  Well worth the cost.

Danielle Davenport · Answer

Trying to source notes and REOs

Chris Seveney · Answer

@Dani Davenport

What are you trying to accomplish ?

Danielle Davenport · Answer

Any new comments on Distressed Pro?

My biggest concern is if it really worked for Brecht - why would he branch out and create a training program....

Eddie Quispe · Answer

Hi Forrest, how did it go with the training, will you recommend it?

Distressed Pro?

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