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Here’s an example of a deal that was sent to me by a cashflowdepot.com mmember
I placed an ad that I would buys notes, land contract, etc. The note was 12%, balance of $8751 and payments of $250 per month for 44 months. Using the Miller Method I asked what are you going to do with the money. They said they needed to pay off a credit card debt of $8500 and were behind.
I offered to pay off the debt and then they would be happy. They said OK but we need something saying that you really paid the debt. I said OK. Using the following website and my company letterhead I wrote to Bank of America asking if we could settle this debt, (I had the people give me a power of attorney to negotiate the deal). They said they would settle for $4900 cash.
http://www.debtconsolidationcare.com/letters/
I then completed my due diligence and made the deal by paying off the credit card for $4900 and getting a release for the sellers. The note is 1st position and it now looks like this
n=44 i= PV =4900 PMT=250 FV =0 I – 50%
I thought this was a pretty good deal so I did it.
With credit card debt so high this tool could be used in the acquisition of anything, cars, houses, notes etc.
I hope you realize that this info alone is worth your membership in cashflowdepot.com!!
Jackie
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