In this bank prospecting Email Mini-Course I’ll show you everything you need to know to go bank direct for distressed assets using (mostly) free, public, data sources.
I am going to show you exactly what I used to do to find REO, foreclosure, and note sales opportunities before I built BankProspector.
I’ll show you what I’ve learned after hundreds of hours of research as well as things I’ve been taught by top banking and real estate execs about where to find the bank data, what it all means to your business and how you can use it.
I’ll show you just where to go to get everything you need to be able to find banks with distressed assets, determine if they’re able to sell, see what types of assets they might be preparing to sell, and see which banks are regular sellers of non performing assets.
Drop your email in on the form on the right and you’ll learn:
- About 3 free, public, websites where you can get every report you need to see exactly what’s happening with any bank’s distressed assets .
- The primary indicator in the report that tells you which assets a bank is likely preparing to sell
- 2 ratios every bank reports that you have to know to determine whether or not a bank is healthy enough that it can sell
- 1 line item that shows you which banks are definitely selling non performing assets
- I’ll show you 2 resources you can use today to find bank contacts and executives
- I’ll share with you one tactic I’ve used that reliably get’s top bank executives on the phone.
Don’t take my word for it. Here’s what a former FDIC commercial real estate liquidator said
Hello all,
Whether you are a workout officer, distressed debt trader, distressed property investor, fund manager, property or financing broker, or other pro involved with non-institutional-grade CRE, I want to recommend Brecht Palumbo’s DistressedPro e-mail course.(free, too!) I’ve answered hundreds of calls from around the country in the last 3 years due to my 2 FDIC tours, and virtually any question I was asked is answered in Brecht’s e-mail course. If it had been running a few years back, I could have just sent callers to DistressedPro, and done more cycling. The small-bank CRE portfolios are problematic, but there will be opportunities for transaction pros. Brecht’s been incredibly thorough in his work.
Best regards to all,
Frank D. Tardif
IRERIS, LLC
If you’re in the distressed real estate or non performing loan business business you have 3 choices as far as I can tell.
You can use the ‘hope method’ where you sign up with a bunch special servicers get yourself on some lists and wait.
You pursue the endless cycles of online forum, bulk REO and note sale daisy-chains.
OR you can develop your own pipeline of real deals with actual bank contacts and drive your business forward
What’s it going to be?
Distressed Pro has been an intuitive and invaluable analysis tool that allows us to quickly access and produce detailed reports on all of the FDIC bank related data and contacts at those institutions. The technology of DistressedPro allows our acquisition team to group by specific property types in a specific region of the country and drill down to a very detailed level of information to identify potential acquisition opportunities in our sweet spot, New England. We have been using DistressedPro for over a year now and find that the time savings more than pays for the already low subscription fees.