How To Tell When Banks Are Lying To You

Hey, I’ve got an awesome resource (it’s free and you can access it online) that allows you to legally spy on banks… so that you know when they’re lying to you.

Maybe you’ve had this experience

You’re interested in doing package deals. So you call a bank and ask if they have any bulk REO.  But you’re pretty darn sure they’re not telling you the truth. How do you know?

I just shot that video and walk you step-by-step how to research a banks REO inventory online.

And if you’re thinking… “Sounds great Patrick but I don’t have funding to buy package deals.”

Guess what?

You don’t have to buy bulk REO packages yourself, you can also broker them. So… NO EXCUSES!

Watch the video below now

Here’s the link to the FDIC website.

Leave your comments and questions below. And if you enjoyed this video, make sure to “like” it before ya go. Thanks!

- Patrick

P.S.Want to learn more about Bulk REO?

PMBP Faculty Member, Susan Lassiter-Lyons, taught me about this killer resource… and she has an in-depth video called “6 Simple Steps To A $50,000 Payday Buying, Flipping, Or Brokering Bulk REO.”

It’s definitely worth checking out! Enjoy :-)

P.P.S. – Here’s a pic of Susan and I hanging out at The Boathouse on Isle of Palms. One of my favorite spots that’s right in my backyard…

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10 Hour Wholesaler

43 Comments

  1. Patrick – thanks for the heads up. I have been told banks are moving REO assets off the balance sheet so to say and are placing them in another organization so it deosn’t have a negative effect. Do you know how to get this info?

    • Hey Peter, you’re welcome man.

      I haven’t heard about that yet. Thanks for sharing.

      If I find out any details, I’ll post ‘em here.

      - Patrick

  2. link to video does not work

    • Hey Scott,

      I just tested the link on my end and it worked fine.

      Try this one..
      http://www.privatemoneyblueprint.com/bulkreo

      Let me know if you need further help.

      - Patrick

    • Also Scott, if you were referencing the link to the FDIC website, here you go…

      http://www.privatemoneyblueprint.com/fdic

      - Patrick

      • Hey Patrick,

        It’s the “allows you to legally spy on banks” video that’s not working. Thanks

        • Hey Garry,

          The video is an “mov” file. So I’m thinking the issue is prob that on your computer, there’s not a video player installed for that file type.

          Usually I just upload to our youtube channel… but couldn’t get it to upload yesterday… which is why it’s been an issue for some people to view.

          I’m going to try to upload to youtube again and change the video out. Then you should be able to view fine.

          Sorry for the inconvenience.

          - Patrick

  3. Hey bro awesome tip… What did you use to record that video?

    • Glad you enjoyed the tip Alex. I used ScreenFlow to record the video.

      - Patrick

  4. Thanks for the video, Great resource.
    I found one bank in Puerto Rico with over $30.9 Million in 1-4 family residential properties Real Estate Owned by this one bank! And this bank abuse the people when they want to refinance their homes, they tell people they will approve them and after people pay for the appraisal and other related payments,the bank tell people they wasn’t approved. That’s the way each lose over $400.I work in good faith with the banks, but only with those also working in good faith. Now I know how to get back at the bank and another that does the same.
    Thank you,thank you,thank you!

    • Hey Julio, you’re welcome man. Great to see you’re already putting this resource to use… nice!!

      - Patrick

  5. I couldn’t get the video to provide any audio either.The how to tell hen banks are lying video, he other works fine. Thanks

    • Hey Dave,

      Check out my comment above to Garry. I think that’s the issue that a few people are having.

      - Patrick

  6. Patrick: A million “Thank You” for this most valuable resource. It opens many doors & possibilities. Worth many times my membership cost.Keep the coming. God Bless. Anthony

    • Awesome Anthony. Glad to help man :-)

      - Pat

  7. Many of the banks have REOs listed on their websites. Addresses, asking price, etc.

  8. Well done Patrick. My thanks to you and Susan. Knowing what one is talking about certainly does give a person credibility. Thanks for sharing.

    • Hey Dan, you’re welcome man.

      - Patrick

  9. This is an awesome website and a great insight to our banking system. Thanks a million.

    • Glad you enjoyed the video Regina.

      - Patrick

  10. What does the tab “Mortgage Lending Specialization” in the Asset Concentration Hierarchy do? I only see 11 banks in my area if I click on that but when I leave it blank, hundreds pop up and they have REO assets as well. What is the reason for clicking on that? Thank you for the great info.

  11. You can get a lot more info there too. At the top click “Offices”. Then only put in your state. You will get a much larger list, not just the institutions. Each institution is diviThanksded and lists every branch office they have by county. Click which institution you want to view. Generate the report. Click on other real estate owned. Then after you look at other real estate owned, and I print it too, you then go to the drop down box above the list of other real estate owned. It will currently say other real estate owned, cause that’s what section you’re looking at. Click that drop down box and go to Past Due and Nonaccrual Assets. You’ll see other ones below that with time frames, but ignore those, as they will all be in the Past Due and Nonaccrual Assets report. Thanks for sharing this with everyone Patrick, as well as all the other great info, videos, and support.I was on a call last week that taught about asset managers and since then I’ve bselling bulk selling bulk REO’s

  12. message got chopped at end. I’ve been interested in buying and selling Bilk REC’d since that conference call I was on and have been researching out. Anyone who wants to learn about Asset Managers also known add Portfolio Managers can ask me. I don’t want to post my email, but Patrick, I give you permission to pass it to anyone who is interested in learning more about asset managers, what they do, and how they do it.

    • Hey Christopher,

      Thanks for helping Janette out with her question and sharing all that info.

      Janette replied back below and I just sent you an email with her info.

      - Patrick

  13. great info

  14. Thanks Christopher. That’s great info. Patrick you can pass on my email to Christopher. I’ve been looking at other avenues as well to pick up notes such as the foreclosing attorneys and asset companies. So far though, it seems that if you can get a good contact at a bank, that’s the best way to go. I’m curious to find out what everyone else out there is finding successful.

    • Hey Janette,

      I passed your info along to Christopher. :-)

      - Patrick

      • Hi Patrick,

        Great resource as always. Please pass my email info to Christopher and Janette. Thanks in advance!

  15. SPLENDID!!

  16. Patrick, this is something else! I can’t believe how simple it is to go onto the website, a few clicks here and there… and there you have it.
    Thanks!!!

    • Yep Desi, just a few clicks and there you have it.

      - Patrick

  17. I would love to get in with the Asset managers and would like to know how to contact them

  18. That was killer info Patrick. Please don’t stop sharing.

    • Hey Garland, glad you enjoyed it. Don’t worry… I’ll keep sharing!

      - Patrick

  19. I tried to locate a bank in my area that I was interested in checking on and it kept telling 0 searches pleast try bank find on the ID homepage or retry again which I did to no avail. I am from a rural area this should have no bearing, right. We still have banks in the small towns.

    • Hey Charlotte, here’s what I suggest… do a test search in a larger market to see if you can pull up the bank info … and after you do that successfully, try your market again. You may also try a larger market near your local area.

      - Patrick

  20. I like this info. I have a question, example if i see 700 dose that mean 700,00 & if i see 1700 that would mean 1.700 million

    Thanks Mitch from Louisiana

    • Hey Mitch, you basically just add 3 “0′s” to the whatever number that’s showing. So yes, you’re correct.

      “700″ is “$700,000″… “1,700″ is “$1,700,000.”

      - Patrick

  21. thank you for the infor. great videos patrick, i would like to here more from chistopher on asset managers, are you patrick if you hvae the infor. on video.

    Thank you again.
    charlie

  22. Hey Patrick,

    As usual, you under promise and over deliver.

    Thank you very much.

    JHall

    • Thanks Jeffrey! Over-delivering is one of our core values at PMBP… so that’s great to hear man :-)

      - Pat

  23. I got that, it will make my life eeeaaassyyy!!!

  24. WOW. Patrick the information that you provided is “DYN-O-MITE”. This video has opened my eyes to the endless possibilities.

    Thanks for the great and useful information. Kindly pass my email to Christopher Latham for I’m also interested in learning about Asset Managers.

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