Todd's major points to the brokers in attendance on the subject of distressed properties included:

1. Anticipating Defaults. Todd discussed how a loan "default" creates a "distress" and thus how the default could impact a broker in their business either to present buying opportunities, motivate a seller or related to a personal asset.

2. Identifying Default. Todd also discussed the importance of identifying the specific source of the default and whether there is a fundamental problem with the property; was it simply overleveraged or mismanaged or is there another identifiable problem?

3. Formulating a Plan. Todd suggested that when dealing with distressed assets it is always important to formulate a plan that provides for a reasonable and businesslike approach to resolving a particular impairment to the property concomitant with your overall goal.

4. Implementing a Plan. Todd also shared with the participants that the current market is dynamic and ever changing and there are no "cookie cutter" solutions. In implementing a plan, you always have to be flexible and willing to think creatively and adapt to any changes in market conditions or other external factors – a plan is just a plan and it can be revised as needed.

Designed as part of a day-long training seminar, the panel members discussed the value, process and challenges of hard money. Marketing distressed assets was also explored.

Additional panel participants included Jay Kessler and Kenny Seitz of LIB Properties and Joel Miller of Access International. Over 60 commercial real estate brokers and agents attended the event.