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Bill Bartmann says Make Good Money Buying Bad Debts
Bill Bartmann is the author of Bailout Riches, a book to provide investors with the right roadmap to spectacular profits. The book lays out a step by step plan on finding deals from the federal government, local financial institutions and loan brokers. The defaulted loan types include credit card debt, consumer loans, business loans, commercial loans and real estate loans and mortgages.
Billions of taxpayer dollars are being used to buy bad debts from banks to keep them solvent as borrowers default on their loans. These debts are being sold for pennies on the dollar to anyone willing to buy them; however, they are not necessarily worthless investments.
For example, you by a $5,000 bad loan for $250.00. Next, you approach the borrower in default and offer them a chance to settle the debt for $500. If they agree, you just made a one hundred percent profit on your investment. This is a win-win-win situation; the bad loan is off the bank’s books, the borrower is out of debt and you made a profit.
Bill Bartmann made his fortune buying bad debts. In his book, he shows how you can make yours too. You may wonder why Bartmann would share something like this with the world. The reason is simple; there’s plenty to go around. In the next year or two around $1 trillion of debt will be written down and sold cheap.
Bill Bartmann is the author of Bailout Riches! and the creator of America’s largest debt-buying and debt-collection company. Bill Bartmann has been listed among Forbes Magazine’s 400 wealthiest Americans and has twice been named National Entrepreneur of the Year by USA Today, NASDAQ, Inc Magazine, Ernst & Young and the Kauffman Foundation. Visit http://www.roadtomajorwealth.com
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New guy here!
Long time lurker, thought I would say hello! I really dont post much but thanks for the good times I have here. Love this place..
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