Non-Performing Notes Teleseminar TONIGHT!
Published: Mon, 07/22/13
July 30, 2013
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IN THIS ISSUE: The Non-Performing 2nd Lien, by Gordon Moss
TELESEMINAR TONIGHT
Don't Miss Tomorrow's Deadline To Save $200 On The Non-
Performing Notes Seminar! www.PaperSourceSeminars.com
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Hi ,
TONIGHT -- Tues., July 30 -- Jack Krupey will reveal more of his
secrets about non-performing 1st lien notes and answer your
questions on a free teleseminar.
It starts TODAY at:
5:00 p.m. Pacific
6:00 p.m. Mountain
7:00 p.m. Central
8:00 p.m. Eastern
(all times DST)
Call 712-451-6000 when it starts in your time zone. When prompted,
enter the access code 903809 followed by the # button.
(Sorry, you cannot use Magic Jack.)
E-mail your questions to me: wjm@PaperSourceOnline.com either
before or during the teleseminar.
Cheers,
Bill
W. J. Mencarow
The Paper Source, Inc.
www.PaperSourceOnline.com
www.PaperSourceUniversity.com
P.S. You only have until midnight tomorrow to save $200 on
"Profits In Non-Performing Notes: Turning NPNs Into Cash Cows"
Jack Krupey and Gordon Moss will teach this intensive seminar Sept.
27 & 28. Jack and Gordon make their living doing what they teach.
THERE WILL BE NO SALES PITCHES. See the video at
www.PaperSourceSeminars.com or call 1-800-542-2270.
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THE NON-PERFORMING 2nd LIEN
Part I
by Gordon Moss
(Gordon Moss is president of Quixote Ventures, Inc., San Diego, CA.
He is THE most experienced buyer of non-performing 2nd
liens. His website is www.realestateandnoteinvesting.com)
Why would an investor in his right mind consider the purchase of a
non-performing 2nd (junior) lien?
Maybe they haven't dedicated the time, energy, and resources to
fully understand this unique niche, evaluated the risk/reward ratio
and come to the conclusion that it might be the LEAST risky
and most profitable strategy available in today's marketplace.
How can that possibly be?
Let me give you a bird's eye view of this niche, exactly why we
came to that conclusion years ago and why we have dedicated
ourselves to understanding the current non-performing 2nd lien
marketplace and the many strategies and tactics we have
learned and developed.
The current market (in California, at least) is paying 50, 60, or
70 cents-plus for a quality non-performing 1st lien, and that is
just too much money in my opinion; margins are too slim,
add foreclosure costs with a large potential for bankruptcy and
other related delays, and you can have your investment dollars tied
up for many more years than originally planned.
"Wait a minute here," you might say, "I can buy non-performing
first liens at 30, 20, or even less than 10 cents on the dollar
from my local hedge fund!" At this point I strongly urge
you to read my blog on "THE BULK REO GAME"
http://realestateandnoteinvesting.com/2011/10/the-bulk-reo-game/
Cheap non-performing first liens could lead you on a very short
path to disaster. These will be notes on the wrong properties, in
the wrong areas, in the wrong parts of the country. Some local pros
might be successful at this niche, but I don't know any of them.
Consider the possibilities when paying 15 to 20 cents on the dollar
for a non-performing 2nd lien on a better quality borrower and
stronger quality collateral: What if you could buy a $100,000
non-performing 2nd lien for $15,000 and re-perform it at
$700 a month for 30 years (tax-deferred or tax-free in your own
self-directed retirement account) and/or season and resell it
for $60,000?
You might have most of your investment back in a short time frame
and an excellent rate of return. Even a fraction of those numbers
might be a profit margin worth chasing.
Evaluating First Position Non-Performing Liens
The old cliché is that real estate valuation comes down to three
factors: "location, location, location." When evaluating a
non-performing first lien the three most important factors
might be "collateral, collateral, collateral"...The chances of
owning the property are very strong, and your risk needs to be
evaluated this way.
Evaluating a non-performing 2nd lien is a bit unique - it might
be the "borrower, borrower, borrower." The most important factors
in evaluating a junior lien come down to your ability to analyze a
borrower's "emotional equity" and his ability and willingness to
work with you to keep his home and create a "win/win" solution that
benefits all parties.
At the Paper Source Las Vegas seminar on non-performing
notes Jack Krupey and I are going to show some actual deals
we've done. We'll put the numbers in, what you pay, how much your
monthly cash flow is and what you'd get out of the deal.
Jack and I will also be available for private consultations
for those in attendance. So bring your questions! If you have
documents and spreadsheets, etc., bring them also.
We expect a strong turnout of real estate and note
investors and brokers, hard money lenders and others who want to
learn how to buy discounted loans from banks and hedge funds. This
will be a tremendous learning and networking opportunity!
Among the topics we will cover in this intensive class are:
- The Big Picture Strategy
- Why Notes? Why Now? Why Firsts? Why Seconds?
- The Terminology Defined
- Where To Find NPNs
- How to Quickly Analyze A Deal
- Due Diligence Checklist
- Invest or Broker?
- The Buying or Brokering Process
- The Paperwork
- Waking Up The Borrower
- Biggest Challenges & How To Overcome Them
- The Workout Process
- The "Art of the Deal"
- Exit Strategies
- More Profit Possibilities
- Re-performing Notes
- Cash Flow or Cash Out?
- Loan Servicing
- Advanced Strategies & Tactics
What you will NOT get:
- Sales pitches
- Speakers with no hands-on experience or track record
Plus, you will learn cutting-edge techniques of dealing
with defaulted debtors and turning the notes into re-performers.
This is the only seminar of its kind and will only be offered
once in 2013. For additional details, a video and to register,
see www.PaperSourceSeminars.com. Or you can call 1-800-542-2270.
The Super Early-Bird Discount expires midnight
TOMORROW, WEDNESDAY, July 31 -- don't miss out!