The Risk With Purchasing Bad Loans
When it comes to buying bad loans, you tend to be somewhat skeptical. If you're not careful and conservative when making the offers for these bad loans, you stand the risk of the loans being noncollectable. The recently launched Buying Bad Loans Seminar however may cure that scepticism. This is a seminar that has been set up by Bill Bartmann, a self-made billionaire who made his money from running a billion dollar debt collection business when the last bad economy hit, pioneering the debt buying industry in America.
Only For Big Investors
Most of us consider that we truly need to have a great deal of money in order to begin investing in this way. For some of us, we discount this as a means to make money. The reality is quite different. Boxes of loans, containing about 20 bad loans each, can be as little as 0.00. You are generally buying the loan for 5 cents on the dollar.
Quick Return On Investment
The reality is that Bill Bartmann's seminar offers all answers on how to set up and run a debt collection business successfully. It's a business model that gives you a means to make money from an investment that is generally a tenth of what you are able get back. With this kind of business you can expect profit back in 30-45 days. You won't collect on all the loans in the boxes that you buy, but the ones you do are sure to make up for the rest.
From Credit Cards To Car Loans
The Buying Bad Loans Seminar teaches you to sit down and identify the kinds of bad loans that you would most effectively be able to work with. Multiple kinds of bad loans will crop up, including credit cards, mortgages, and even car loans. You will also learn a lot about how to evaluate the loans, the bidding process and where to go to bid on the loans.
Get A Collection Agency Business To Do The Hard Work
Along the way, you will want to find good agencies to help you collect your purchased loans. It is a given that this is not something that you want to tackle on your own. It is also a given that you want to offer some measure of dignity to your customers and still recoup some of the money that they owe. Getting a collection agency business to do it for you is part of this process.
A Rinse And Repeat Process
Finding the best collection agency business isn't an easy task and you're going to need to do your homework to accomplish it but once it's been done the first time it's pretty much a rinse and repeat process. Generally collection agencies take about a third of the proceeds so getting one that is reputable but also successful is imperative.
Conclusion
For anyone who is seeking a way to make a reasonable return on their investment, Bill Bartmann's Buying Bad Loans Seminar is an outstanding investment. For just a small slice of your time and a nominal fee, you get some valuable insight into a whole new business for your consideration. While the seminar-- and the lessons it teaches--certainly aren't for everyone, the reality is that a debt collection business is a business that most people could be good at. It is also a business that could begin to help you financially in just a month or two.
