Bailout Riches!: How Everyday Investors Can Make a Fortune Buying Bad Loans for Pennies on the Dollar [NOOK Book]

Overview

You've heard about the massive government bailout of the financial sector and its cost to taxpayers. Couple that with skyrocketing unemployment and a shrinking stock market and you might think this a terrible time to invest in anything. But you'd be wrong.

In Bailout Riches!, Bill Bartmann shows you how to invest in the bailout itself and take your own cut of the trillion-dollar pie. What does Bartmann know about bailouts? Only that the last big-time government bailout-involving...

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Bailout Riches!: How Everyday Investors Can Make a Fortune Buying Bad Loans for Pennies on the Dollar

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Overview

You've heard about the massive government bailout of the financial sector and its cost to taxpayers. Couple that with skyrocketing unemployment and a shrinking stock market and you might think this a terrible time to invest in anything. But you'd be wrong.

In Bailout Riches!, Bill Bartmann shows you how to invest in the bailout itself and take your own cut of the trillion-dollar pie. What does Bartmann know about bailouts? Only that the last big-time government bailout-involving the savings and loan crisis and the government's Resolution Trust Corporation-made him a billionaire. This time around, the bailout is much bigger and opportunities for profit are much greater.

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Product Details

  • ISBN-13: 9780470498422
  • Publisher: Wiley
  • Publication date: 6/5/2009
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 256
  • File size: 401 KB

Meet the Author

Bill Bartmann created America's largest debt-buying and debt-collection company. Formerly a homeless high-school dropout, he 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.

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Table of Contents

Chapter 1 I've Seen This Movie Before, and Know How It Ends: I Make a Billion Dollars 1

What Am I Talking About? 4

How This Book Is Organized 5

Chapter 2 Realize the Opportunity 11

How Loans Become Bad Debts, from the Lender's Point of View 14

The FDIC and the RTC 21

Two Important Outcomes of Bank Rescues 23

When I Realized I'd Seen This Movie Before 24

A Perfect Storm of Financial Factors 25

Chapter 3 Understand That You Can Take Advantage of It, Regardless of Your Circumstances 33

A Secret about Dealing with Borrowers 36

Billionaire Principle: You Can't Fail at Trying 53

Chapter 4 How to Find Good Deals, Part One 55

Various Types of Loans 55

Where to Start 59

Sources of Loan Portfolios 60

Source #1: The FDIC 60

Source #2: New Bailout/Stimulus Entities 66

Source #3: Brokers 71

National Loan Exchange 72

Chapter 5 How to Find Good Deals, Part Two 75

Source #4: Your Local Bank 75

Do These Things and You're Sure to Fail 79

How to Approach Your Local Bank 80

Your Five-Minute Pitch 96

Now You're on Your Way 101

Chapter 6 How to Review a Loan Portfolio 105

Factors That Affect Loan Collectability 106

How to Put It All Together 112

Chapter 7 How to Make a Portfolio Offer and Finance It 115

How to Calculate the Bid 116

How to Prepare the Bid Document 118

How You Conduct the Meeting 120

The Conclusion of the Meeting 127

Get the Deal in Writing 127

Financing Your Portfolio 128

How to Find the Bank That Will Finance You 132

Essential Ingredients for Securing Your Loan 133

Loan Proposal Principles 135

Non-Bank Financing Sources 143

Chapter 8 How to Manage Your Portfolio 145

The Mindset of a BillCollector 145

The Two Main Approaches That Set You Apart 154

To Sue or Not to Sue 165

How Many Calls Does It Take? 166

Leaving Voice Mail Messages 168

Sending Letters 169

Always Keep ROI in Mind 170

Hiring a Collection Agency 170

Chapter 9 How to Dispose of Your Portfolio 181

Don't Throw Away-Recycle 181

Consider Other Auction Outlets 183

Three Kinds of Loans 183

Preparing Your Loans for Sale 184

The Sales Process 185

Chapter 10 Mental Checkup and Reward Time 187

Attitude Boosters 188

Make One Dollar 197

Chapter 11 Get Better to Grow Larger 199

The Stages of This Business 199

Chapter 12 Where to Go from Here 209

Bonus Materials 209

Billionaire Business Systems 210

Live Events 210

Glossary 213

Index 217

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Sort by: Showing 1 – 9 of 7 Customer Reviews
  • Posted June 2, 2009

    The people who read this book will end up with your money!

    They all laughed when he said he was going to dig himself out of bankruptcy and become rich by buying up other peoples bad debt. But their laughter turned to envy when Bill Bartmann's face appeared on the cover of Inc. Magazine as one of America's wealthiest men. It was the craziest scheme I had ever heard of, and that's exactly what got my attention.

    I first met Bill Bartmann when I interviewed him for a book I was writing. I didn't know what to expect as I sat in his waiting room, high atop his 55 story office building. Maybe I pictured a kinda sleazy, high-finance Wall Street type. After all, he was in the debt collection business, and the people I talked to said he was making money "hand over fist." Or maybe I thought he would be one of those stuffy, pinstriped, look-down-their-nose-at-you banker types. I honestly can remember what I was thinking, but I can tell you this: whatever I pictured? Well, it sure wasn't what I got.

    Have you ever met a stranger and felt as if you've known him all of your life? There's just something so "real" about Bill. Maybe it's his sincerity, which reveals itself in his quiet smile, or his strength of character and integrity which has stood strongly against hurricane force envy and jealousy, or perhaps it's just Bill's intractable, bull-headed determinism. (I once knew a stubborn ol' mule that would have bowed with respect in his presence.) Whatever that special quality is, all I can say is that it makes Bill the kind of person that you feel you should trust.

    The story of how Bill Bartmann went from street punk to self-made billionaire made its way into my book. And as that book made it's way around the world to become a million-copy bestseller, Bill Bartmann made his way around the world on a crusade to empower what he lovingly calls, the "little guy."

    Bill is what I call a CounterThinker--a person who looks at the same thing everyone else does, yet sees something entirely different. Where everyone else saw crisis--a collapsing banking system and mountains of bad debt, Bill saw opportunity. That kind of vision is what made him rich and famous during the first credit meltdown, and its also why, if you're even the slightest bit smarter than a rotten sweet potato, you should be listening to him now. No one could have foreseen economic lightening striking twice in the same place, but now that it has, you have the opportunity of your life--to cash in on the billions of dollars of government money that will only go to those who are, as granny used to say, "in the know." Bailout Riches puts you "in the know."

    Bottom line: The people who read this book will end up with your money.

    Alexander J. Berardi- author, Never offer Your Comb to a Bald Man, and host CounterThink.TV

    2 out of 2 people found this review helpful.

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  • Anonymous

    Posted June 3, 2009

    What a great book, I just recieved it and cant put it down

    I sat down with this book and cant put it down, this book is wonderful and no better time than now.

    1 out of 1 people found this review helpful.

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  • Posted August 22, 2010

    Great reading Bill Bartmann is genuine and comes through in his writing.

    I highly recommend this book to anyone for today's economy. All I can say is an incredible read and I was unable to put it down until I finished.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted October 4, 2009

    Waste of money

    Insipid, self promoting book written by a former king of the worlds collection scum. As his business failed eventually, his advise is suspect at best, onerous at worst. Clearly the only one who will benefit from this is Bartmann himself, as he collects royalties, patting himself on the back all the way, for explaining how to take the "high road" in chasing debtors. If this sounds like a good business plan I would humbly suggest considering euthanasia as an alternative strategy, the world will thank you.

    0 out of 1 people found this review helpful.

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    Posted January 17, 2010

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    Posted January 23, 2010

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    Posted June 17, 2009

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    Posted June 3, 2009

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    Posted October 20, 2010

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