Contractor · Philadelphia, PA · Member since 2009 · 85 posts · 65 votes
17y
Oh yes, Bill Bartman!
Did Bill mention in his marketing piece that his 5 billion dollars was just on paper? Did he mention his company of 9000 folks is out of business and his 5 billion is gone?
Probably not, but if you give him $10,000 he will get some of it back. Now let me ask you a question, why would a
5 billionaire care to take $10k off of you to teach you something he has 9000 employees doing for him for minimum wage?
Real Estate Investor · Los Angeles, CA · Member since 2008 · 148 posts · 22 votes
17y
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.
Contractor · Philadelphia, PA · Member since 2009 · 85 posts · 65 votes
17y
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:
Real Estate Investor · Phila., PA · Member since 2008 · 41 posts · 1 vote
17y
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.
Contractor · Philadelphia, PA · Member since 2009 · 85 posts · 65 votes
17y
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.
Banker · LAKE TAHOE, CA · Member since 2009 · 1 post · 0 votes
17y
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.
Commercial Real Estate Agent · Boston, MA · Member since 2008 · 114 posts · 15 votes
17y
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?
Real Estate Investor · Longmont, CO · Member since 2009 · 208 posts · 109 votes
17y
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
Real Estate Investor · Longmont, CO · Member since 2009 · 208 posts · 109 votes
17y
Oh, and to answer the original question, it was a mildly interesting read but has nothing to do with real estate investing at all. The only assets purchased in his system are notes so far gone that nobody else wants to touch them....
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
17y
I've seen him speak. There's one more step after you buy the debt, which is to outsource collecting the debt to some debt collection company. I had the same impression as workerdrone, that these companies would use pretty low tactics to try to collect something. Not my cup of tea.
I also read a Business Week article about debt collection. According to the article, written off debt, which supposedly wouldn't be collected, in fact resulted in the debtor being hounded. I had seen Bill's talk about the same time, and it made me wonder if the big credit card companies agreed to a write off, then sold the written off debt for a few cents. Then the buyer ended up hounding the debtor who thought they had already resolved the situation.
I am trying to figure out about this opportunity also. I have been doing some research.
His strategy has nothing to do with Real estate but is mostly to do with deliquent consumer loans that can be bought and sold. I am looking into attending one of his seminars if I feel comfortable with my due diligence.
I want to find out if it is a legitimate business or if the company makes more money doing seminars. It would help if any of the seminar attendees would share their feedback. If I find anything else I will keep this thread posted.
Real Estate Investor · Phoenix, AZ · Member since 2010 · 155 posts · 16 votes
16y
Be real careful of this guy he is a scam artist. I have seen him speak and became friends with his staff. They asked me to marketing for a seminar where I would get paid if people show up at the event. I had it in writing. I had about 400 confirms he cancelled his appearance it took me two months to do this and I never got paid he is scam artist be wary of him. After I spent hundreds marketing his programed appearance, all I got was a stinking autographed book and a thank you, this lost me over 100k. Just be wary.
Contractor · Philadelphia, PA · Member since 2009 · 85 posts · 65 votes
16y
Guru = information sales, and that is all.
I recently attended a DIG meeting, the guru speaker promised the easy road to millions, 7 people forked over $7k each.
The guru walked out with $49k for a one hour talk, he parted with 5 cds and a booklet about $5.
Now that is the way to riches!
I am sure he sleeps soundly at night, dreaming of P.T Barnum "There is a sucker born every minute."
No truer statement has ever been spoken.
Has anybody been through Bill Bartmann's system and failed or been successful? To be specific, can he collect on the notes you purchase in a way that actually helps the debtor? Bill is an open book to anybody who knows how to use Google but I have yet to find someone who has been though his program. I have a friend in Dallas who is making a killing (close to 7 figures) collecting on 2nd mortgages. My only problem with the collections business is that it is a little like being a millionaire in the garbage business. Buying notes is easy. The question is can you collect enough to earn more than just a living in a way that does not make you a pariah. If anybody has been through Bill Bartmann's system and used his collections service I would appreciate your feedback.
I looked into the opportunity and it seems like a good prospect. If I can find a partner who is interested in checking this opportunity I am considering attending his 2 day seminar. Usually it is $2995. But if someone is interested then we can split it to $1500 each. The next one is Nov 15th.
I am not affiliated to Bill Bartmann's company in any way. But the overall due diligence that I on this opportunity seems ok.
If any of you are interested please let me know and I am willing to enroll in this 2 day training. Thanks
Altus, OK · Member since 2008 · 2k+ posts · 690 votes
15y
Originally posted by Ann S:
I looked into the opportunity and it seems like a good prospect. If I can find a partner who is interested in checking this opportunity I am considering attending his 2 day seminar. Usually it is $2995. But if someone is interested then we can split it to $1500 each. The next one is Nov 15th.
I am not affiliated to Bill Bartmann's company in any way. But the overall due diligence that I on this opportunity seems ok.
If any of you are interested please let me know and I am willing to enroll in this 2 day training. Thanks
Man you have people already in this thread that have warned you that this guy is a scam artist and you still want to fork over $3000 for his seminar on top of that ask someone here to fork over $1500.
Thanks for your input James.I really appreciate the comments or fellow RE Entrepreneurs. I wrote my post after I did some due diligence on the debt buying business itself. Again, I am calling it a prospect. You would understand all the nuances of a business when you do that business yourself. So far we haven't heard from anyone who has attended bill's seminars who is calling it a scam.
Just like the wholesale REO packages debt buying is an industry itself. I just heard about this deal of splitting the fee with another attendee and wanted to ask if anyone has done some due diligence and was interested. I wouldn't just jump into something without doing any due diligence and I honestly do not expect anyone to do so without doing theirs. Just wanted to post the deal that I heard. Again, I don't have any links to Bill's company and don't receive anything from this.