This is meant to be the most basic of introductions to how things work. If you’ve been in real estate for some time or you’ve ever bought or sold a loan or REO none of this will be news to you.
If, however you are just getting started and you are at square one then please move this to get yourself acquainted with the basic terminology and structures.
Bank Basics
Meet the institutional and regulatory players in the distressed assets space.
Mortgage Backed Securities
What’s the difference between a securitized loan and a ‘whole loan’? who’s in control of these non-performing assets and how does this affect your deal.
Whole Loans
What is a ‘whole loan’ vs a CMBS loan (for example) and why you should be pursuing whole loans at regional and community banks first.
Loan Types
A list of all the types of loans that are reported by banks. These loans are reported as current, 30 days late, 90+ days late and still accruing, and non-accrual.
- Past Due and Non Accrual Loans
A further breakdown of how banks report their loans to regulators
- Past Due and Non Accrual Loans
Distressed Real Estate Funnel
How loans move through a bank’s distressed assets or workout funnel, where the opportunities are and what happens along the way.
Non-Performing Assets
What is a non-performing asset?
Credit Unions | National List
There are thousands of credit unions with late and non-performing loans and REO. Download the complete list including names and phone numbers.
Special Servicers List
Special servicers control a huge portion of the distressed assets pool. BankProspector comes with an included database of special servicers.
I am new to this whole REI business. I have little cash in the amount of $2000 to learn tuyw business. I have tried to access the Bank Book you are advertising. I blew miney to this suppose to be guru Terry Bontemps, who is full if him self, but is not showing how to penetrate the banks, or showing how to structure deals let alone meeting or better yet showing to meet with Hedge Fund and Private Lenders.
When I asked him about splitting deals he said I did nothing to deserve his money. Why should he structure deals with me, when he could make 100% of the deal. I realize then, he was about just making money off of unsuspecting people such as my self. I have not received anything of substance that would allow me to got out and buy notes at this moment.
I have learned more from your YouTube video’s then I have from him, and I paid for it. So, hopefully you are better then that clown.
hi Christopher, Sorry you had a bad experience with someone else’s training. We teach a lot about the note business but its not a soup to nuts note training, most of the training is focused on the actual sourcing of the deals with some assumption that you will know what you will do when you “get a live one”.
People come to this site and training and software from a variety of backgrounds (REO brokers, auctioneers, note brokers, note investors, commercial real estate investors) and with a variety of needs sot the real focus of this site, training, and the software is on sourcing deals.
Hope that helps.
okay good to know
I am brand new to this entire commercial real estate idea. I’m in my late 60’s. Have read 10+ books, bought property analysis software, property management software, etc for anticipation of entering the business. I’m getting the process down, but am missing two key major elements: experience in dealing with people on a “real estate level” (very good with people, otherwise…doctor)…and how to find contacts/avenues to find distressed properties. Are there classes or seminars to learn these two major elements?
Hi Jim, I think the “real estate level” talk is something you develop with experience and I’m not sure how else to get it. The finding of properties is exactly what we do here https://www.distressedpro.com/training/