Mini Course: Module 3


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Welcome to Module 3! I congratulate you for absorbing so much information in such a short time. The good news is that you’ve made it through half of the course (almost – there is a bonus session). And the other great news is of completion: This module is the last dealing with Non-Performing paper; in the next module, we are moving on to Performing Notes (Pretty Paper, Creating Paper, and Investing in Paper).

Ugly Paper can be VERY profitable, but you must remember:

  • Know the value of the underlying asset. Don’t take someone else’s word for it!
  • Avoid Joker Brokers and Daisy Chains like the plague.
  • Plan on the best, but prepare for the worst.
  • You will KEEP some of the one-offs, but will FLIP the pools and most Commercial notes.

And in the spirit of AVOIDING Deadly Broker Daisy Chains, CLICK HERE for a Bonus Video that I personally created on one of “those” days when I didn’t know whether to laugh or cry (I chose the former)!

Module 3 Training Video

(Click Expand Button in Player Controls to Expand to Full Screen)

To listen to audio only, press play

Other Mini Course Module 3 Resources:

Power Point Slides from the Module 3 Webinar


Assignment MPA
Use when Optioning a Note to Other Real Estate Investors

Assignment of Deed of Trust
Used to Transfer the Deed of Trust from the Lender to You

Assignment of Mortgage
Used to Transfer the Mortgage from the Lender to You

Promissory Note Endorsement
Used to Transfer the Note from the Lender to You

Attestation Letter
Is the Seller Direct or Just a Broker? Find Out w/ This Form

Possible Lender Questions
Be Prepared with a Good Answer In Case Your Seller Asks These Questions

Preferred Spreadsheet Format – NPN
Get as Much Information on This Sheet as You Can to Facilitate Pool Purchase

Script: Mortgage Banker Bulk
Script to work with mortgage lenders to see if they have any NPNs they would like to sell, whether in bulk or individually.

Script: Mortgage Banker One Off
Script to work with mortgage lenders to see if they sell one-off loans, or even loans in mini-bulk.