In his new book, “Bailout Riches”, Bill Bartmann reveals the business model that made him a billionaire and the 25th richest person in America (before he lost his fortune again). The author is transparent in his willingness to reveal his many mistakes on the way to great success.
The book gives a basic overview for buying distressed loans for pennies on the dollar. These loan portfolio’s can be bought directly from;
- the Federal government through the TARP, or Troubled Asset Resolution Program.
- your own local banks
- loan brokers who buy these loans in bulk (wholesale) and then resell them in smaller chunks.
In his first attempt, Bill was able to purchase a “box of loans” as he calls them, for $13,000, a mere 2 cents on the dollar. Within 60 days he collected $63,000 on those loans for a profit of $50,000. This was the beginning of what has been called, “debt collection with a heart”. An empathy that can usually only come from someone who has been down and out.
Buying distressed loans is certain to become the next big thing and a newly revived cottage industry, at least for the next several years. When Mr. Bartmann made his fortune, during the RTC (Resolution Trust Corp) days the amount of bad loans was a whopping $50 billion dollars. Today the Federal bailout money needed is well over $700 billion and we’re just at the beginning.
The book gives enough information that the courageous could step out and take action right away. However, Bill has stepped into the mentoring role at this stage of his life and is offering 2 day and 5 day intensive training seminars that give greater details on exactly how to make millions buying bad loans from your kitchen table!
At this point it really doesn’t matter who is responsible for our current crisis, the American entrepreneur has always stepped up to the plate and from the lemons has made lemonade.
The quicker these loans are “off the books” from the financial institutions the quicker our economic recovery can begin. Do your part and buy “Bailout Riches []” for yourself. This is perfect for part-time additional income or as the job killer you’ve been looking for!
Bailout Riches - How Everyday Investors Can Make a Fortune Buying Bad Loans For Pennies on Dollar
No comments:
Post a Comment