Private Money411 Magazine - The Source for Real Estate Finance PRIVATE MONEY411 - BAMF | Page 36

Session #3 – Summary of
Options
The next trainer went through the 
major options a distressed owner has 
to save their home or equity.  Each
option is linked to the foreclosure 
time­line, so the distressed owner 
knows when and how to act. This
leads to a great number of
transactions for the investor and or
Realtor®. 
Breakout Session – 
“Face­to­Face Marketing”
Pre­Foreclosures
The next trainer/investor also
defined the foreclosure process,
discussed the foreclosure timeline
(in California), and explained the 
90­day notice of default and 21­day
trustee sale leading to foreclosure 
and auction. Rounding out the 
discussion, he explained how to
search county records, which 
websites treat foreclosures, and how 
to find comparable sales.
Guest Speaker – Kathy Fettke
Kathy is Founder and CEO of
Real Wealth Network, a national
investment organization, and a 
frequent speaker. She discussed our 
nation’s debt situation in cautionary
terms, as excesses seem to be
building in personal, corporate,
financial and government sectors.
She then went on to explain the 
difference between cities that are 
good for cash flow, and those that
are good for equity growth. (They’re
not always the same!) She gave
examples to make her point.
Session #2 – Researching
Here, the trainer/investor
explained how to find owners and 
phone numbers using “skip­tracing”
websites, how to find unpaid loan
balances and past­due payments, and 
how to search public records using 
the property tax parcel number. They
also presented a “contact list” Excel 
spreadsheet that can be downloaded
by the students.
Guest Speaker – Jasmine Willois
Jasmine is Founder and CEO of
Note Assistance Program. She spoke 
on the topic of investing in “Non­
Performing Notes”, which are 
delinquent and therefore non­
performing. Interestingly, two of her 
students gave testimonials of their 
success under Ms. Willois’ coaching.
9
The workshop broke up into four
groups of 15 or so, and we met in
separate rooms, led by a coach. The 
process centered on the use of scripts 
when meeting with homeowners. 
While role­playing, the students
improved their performance each
time their turn came around. 
Learning was taking place!
Session #4 – Making the 
Offer
Lots of content here! First, the 
trainer described how to calculate 
the offer amount. Then, he went over
the scripts to be used “at the kitchen 
table”. He spent some time
discussing the important clauses 
before presenting the: 1) Purchase
and Sale Agreement and 2)
Assignment Agreement. The 
agreements are included in the 
playbook, and students are able to
download an Excel spreadsheet used
to calculate offer alternatives. The 
leader also went over many sources 
of money, which were described 
further in the playbook.