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

ISBN-13: 978-0470478257 ISBN-10: 047047825X Edition: 1st

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Bailout Riches!: How Everyday Investors Can Make a Fortune Buying Bad Loans for Pennies on the Dollar + Billionaire: Secrets to Success
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Product Details

  • Hardcover: 240 pages
  • Publisher: Wiley; 1 edition (May 26, 2009)
  • Language: English
  • ISBN-10: 047047825X
  • ISBN-13: 978-0470478257
  • Product Dimensions: 9.3 x 6.3 x 0.9 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 3.8 out of 5 stars  See all reviews (40 customer reviews)
  • Amazon Best Sellers Rank: #350,741 in Books (See Top 100 in Books)

Editorial Reviews

From the Inside Flap

In the current bailout, billions of taxpayer dollars are being used to buy bad debts from banks in order to keep those banks solvent as borrowers default on loans. These bad debts are being sold for pennies on the dollar to anyone willing to buy them. But just because these are bad debts doesn't mean they're worthless investments. Imagine this: you buy a $5,000 bad loan for just $250. You approach the borrower in default and offer them a chance to settle that $5,000 debt for just $500. If they agree, you've made a one hundred percent profit on your investment, the bank has the loan off their books, and the borrower is out of debt. It's a win-win-win situation!

If that sounds like fantasy, it's not; it's how Bartmann made his fortune and how you can make yours, too. But if his ideas worked so well, why would Bartmann share them? Simple—there's plenty to go around.

In fact, over the next year or two, somewhere around $1 trillion of debt will be written down and sold to buyers at ridiculously cheap prices. Now is the time to get your share.

Bailout Riches! lays out a step-by-step plan for finding the best deals on loan packages, building a valuable debt portfolio, and collecting from debtors with little hassle. It's simple, it's practical, and it's cheap to get started. If you're looking for a new way to make real money, Bailout Riches! will show you how to jump on the biggest gravy train in recent history.

From the Back Cover

Praise for Bailout Riches

"Who better to teach you how to prosper from this economic chaos than a man who actually took himself from 'bankruptcy to billionaire' during the last crisis."
—Ken Blanchard, coauthor, The One Minute Entrepreneur

"Bill Bartmann is more than a great financial success story; he is a phenomenal teacher who has helped thousands of my students achieve success. Bailout Riches will show you how you can prosper during these tumultuous times."
—T. Harv Eker, author, New York Times #1 bestseller, Secrets of the Millionaire Mind

"When the economy is in crisis, Bill Bartmann finds the diamond in the rough. The information in this book made him a billionaire fourteen years ago during the S&L crisis. Now the economy is cratering again and his methods are working better than ever. Read this book and discover a hidden source of wealth all around you."
—David Lindahl, author of Emerging Real Estate Markets and Multi-Family Millions

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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Customer Reviews

Let me be clear that in his book he never says he lost all that money.
A. Nesbitt
Pick up this book today, follow Bill's step by step instructions and your life will change.
Keith Leon
I read Bill's Bailout Riches and found it to be one of the best books I have ever read!
R. Bryce

Most Helpful Customer Reviews

89 of 90 people found the following review helpful By Sucker for PUNishment on June 29, 2009
Format: Hardcover Verified Purchase
As with any person or organization (church or business) that has achieved any measure of success you will be able to find plenty of negative if you google or yahoo it enough. As a person, I don't care if Bill Bartmann wears a halo or if he rips babies from the womb and eats them whole. I bought the book (through a Brian Tracy joint promotion) in order to use it as a blueprint to wealth and that blueprint hasn't worked.

I like Bartmann's straight forward writing style and his occasional use of humor. I was nearly in the floor laughing at times.

As for the substance, I would call this book a "how did" rather than a "how to". The world has out grown the method.

Bartmann is correct when discouraging the reader from approaching branches of large banks. I actually manage a branch of one of the nation's top 10 banks and Bill is right - you would spend horrid amounts of time getting to someone "in charge" and when you did finally break through you probably wouldn't get anything out of it.

Otherwise, I have discovered through actually utilizing the information in the book that the system Bartmann used 15-20 years ago is now an anachronism. For example, one of the local banks in my town garnishes the wages of charge off DDA and delinquent consumer loan customers. They don't send the delinquent accounts to collection agencies, they keep hammering away until they find a payroll check to garnish. No room for me in that scenario. Another local bank sells the accounts to a collection agency and afterwards the accounts are never seen again - the accounts never return to the bank once the primary collector get hold of them.

At present, I have approached 5 banks - 3 in northeast Oklahoma (Bartmann's homeland) and 2 in northwest Arkansas - using Bartmann's system.
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21 of 23 people found the following review helpful By A. Nesbitt on August 30, 2009
Format: Hardcover
Bill talks about how he became a billionaire in 1998, but leaves out something very important. What happened after 1998? I'll tell you. His company went bankrupt due to fraud. I do not know the full details about it, but I know he had something like 120 multi-million dollar creditors which stinks of some kind of half business half ponzi scheme, but again...i do not know the details of the fraud and I am not claiming that is was ponzi, only that is what it looks like to me.

If I could ask Bartmann a question, it would be "If you had made a billion dollars from this business, why dont you do it again? Why waste time writing books and giving seminars(which is not as profitable)? Why not get back into something you know about instead of doing books and seminars about how you USED to be a billionaire?"

Let me be clear that in his book he never says he lost all that money. He says in his book he made a billion dollars (although I'm not sure that he did, only that GS said his company was worth a billion, not sure he ever had a billion in cash or that his net profit ever totalled 1 billion from his business) I had to do a little searching on my own to find out he lost it all.

If you want to be inspired though, its a decent read. But dont think that this "blueprint" for making money will make you money.
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82 of 102 people found the following review helpful By Arjun on June 2, 2009
Format: Hardcover
Does anyone find it odd that every review (save one) was written on the same day (June 2nd 2009)? This usually suggests a collaborative effort from a specific group of people working to hype the book up.

His story and marketing is manipulative as he was only a BILLIONAIRE ON PAPER. HE NEVER ACTUALLY HAD THE MONEY, IT WAS JUST IN THE VALUE OF HIS COMPANY.

Yes, he went to the Fortune 400 list, only to lose all of his money and go bankrupt shortly after. If this guy was such a savvy businessman, HOW DID HE LOSE A BILLION DOLLARS?

Its not like he has a story of Trump who went from 900+million in the hole back to Billionaire. He is now having to use his story and motivational speaking skills just to get his wealth back.

If you google Bill and his history, you will find the story of an egomaniac who appears to feel empowered by his wealth and nothing else. That is how he defines himself.
[...]
The book may be useful if you plan on calling people to collect on bad debts, but following this person as a motivational speaker? A quick review of his past and character would likely change your mind.
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23 of 29 people found the following review helpful By Disappointed Reader on June 3, 2009
Format: Hardcover
I found the information contained in Bill Bartmann's book is big on hype and small on substance! Very disappointing, comming from a man who considers himself a billionare expert on the subject. Bartmann's book publisher asks on the inside book jacket of his book that if his ideas work so well, why would he share them? Sadly, he doesn't! I found the information contained in his book to be very general and incomplete, especially on sources of purchasing debt. I have a feeling though that if anyone reading Bartmann's book feels like I do, he'll be glad to sell you one of his seminars on the business, in a city near you! The bonus materials he claims to offer to "only readers of his book", on a website, which I hoped would provide better information on the business, has yet to be provided. Really got the feeling that he's only interested in making another billion dollars selling books and seminars, instead of providing more than general information on the debt investment business.
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