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Finding Your First Deals

Be The Bank. Buy Notes. Finding Your First Deals. PERSPECTIVE. What Institutions Should I Approach?. Hedge Funds, Private Equity Funds. Hedge Funds, Private Equity Funds. Not regulated as closely as banks. (Until 2012) Watch news articles for activity and names. Example Article.

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Finding Your First Deals

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  1. Be The Bank. Buy Notes. Finding Your First Deals

  2. PERSPECTIVE

  3. What Institutions Should I Approach?

  4. Hedge Funds, Private Equity Funds

  5. Hedge Funds, Private Equity Funds Not regulated as closely as banks. (Until 2012) Watch news articles for activity and names.

  6. Example Article Source: http://southfloridarealestate.citybizlist.com

  7. Example Article Source: http://www.dailymarkets.com

  8. Banks and Credit Unions • FIRP Financial Institution Research Platform • Example: First Interstate Bancorp of MT • Office of Thrift Supervision • Enforcement Actions and Letters • Exam Results

  9. Mortgage Servicers Remember Who They Work For…

  10. Start With Properties • Foreclosure/Notice of Default Listings • Vacant Properties • FSBOs • Expired/Cancelled Short Sale Listings

  11. Foreclosure Filings and NOD • Sources for Data • Paid Services • County Sheriff – Online Data? • Legal Newspapers • What to look for • Smaller banks • Investment companies that are foreclosing

  12. Vacant Properties • Drive Neighborhoods You Like • Look for the signs of a vacant property • City Vacant Building List

  13. I Found Some Properties – Now What? STEP 1 Title search to see who started the Foreclosure or who holds the mortgage

  14. I Found Some Properties – Now What? STEP 2 Title Search using that lender’s company name; find signed docs

  15. I Found Some Properties – Now What? STEP 3 Contact Research on those names

  16. I Found Some Properties – Now What? STEP 4 Contact the lender and try to get a referral to that person Email, Fax, Letter or Call!

  17. I Found Some Properties – Now What? STEP 1 Title search to see who started the foreclosure or holds the mortgage STEP 2 Title Search using that lender’s company name ; find signed docs STEP 3 Contact Research on those names STEP 4 Call lender try to get referral to that person

  18. Property Example • Beebe Rd., St Paul, MN • 4-Plex • Bought 2nd Mortgage to facilitate short sale • 1st Mortgage $275,000 (shorted) • 2nd Mortgage $75,000 • Value 350,000 • Had an end buyer

  19. 1711 Beebe Road

  20. 1711 Beebe Road

  21. 1711 Beebe Road

  22. 1711 Beebe Road

  23. 1711 Beebe Road

  24. 1711 Beebe Road

  25. 1711 Beebe Road • Identified a property with equity potential through short sale • Bought $75,000 2nd mortgage for $7,500 • From initial contact (Feb 7) to closing (March 31)

  26. Institution Example Start with FIRP (Financial Institutions Research Platform) Choose an Institution

  27. InstitutionExample Start With FIRP Data

  28. PrivateBank and Trust Company Use the Company’s Website

  29. PrivateBank and Trust Company

  30. PrivateBank and Trust Company Leadership BIO Page

  31. PrivateBank and Trust Company We have names, now what? • Go to About us page on Website • Go to Newsroom Page – search for interesting or relevant news • News article search for those names (try using Bank president’s name too) • News Article search for that Bank name • Go back to FIRP and review what assets they have

  32. Be The Bank. Buy Notes. Finding Your First Deals

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