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Note MBA

Updated 8 days ago

Business
Education
Investing
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The Note MBA Podcast aims to show you an inside story of two guys who have jumped head first into the defaulted note business. Follow us as we share our grassroots education in this expanding community of note and real estate investors. Learn all while one half travels the world in pursuit of every location independent entrepreneur’s dream and the other expands his love for business and family enough to fill the great state of Texas. We’re here to show you that you’re never alone in the note business. Join us every Wednesday to find out what we’re up to now.

Read more

The Note MBA Podcast aims to show you an inside story of two guys who have jumped head first into the defaulted note business. Follow us as we share our grassroots education in this expanding community of note and real estate investors. Learn all while one half travels the world in pursuit of every location independent entrepreneur’s dream and the other expands his love for business and family enough to fill the great state of Texas. We’re here to show you that you’re never alone in the note business. Join us every Wednesday to find out what we’re up to now.

iTunes Ratings

142 Ratings
Average Ratings
133
5
2
0
2

Great Podcast

By JackButala - May 11 2016
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Fantastic Podcast. Informative, interesting and entertaining. Five Stars.

Entertaining and Educational

By Bnhugs - Feb 20 2016
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Fun way to learn about a very technical way to invest in real estate.

iTunes Ratings

142 Ratings
Average Ratings
133
5
2
0
2

Great Podcast

By JackButala - May 11 2016
Read more
Fantastic Podcast. Informative, interesting and entertaining. Five Stars.

Entertaining and Educational

By Bnhugs - Feb 20 2016
Read more
Fun way to learn about a very technical way to invest in real estate.

Listen to:

Cover image of Note MBA

Note MBA

Updated 8 days ago

Read more

The Note MBA Podcast aims to show you an inside story of two guys who have jumped head first into the defaulted note business. Follow us as we share our grassroots education in this expanding community of note and real estate investors. Learn all while one half travels the world in pursuit of every location independent entrepreneur’s dream and the other expands his love for business and family enough to fill the great state of Texas. We’re here to show you that you’re never alone in the note business. Join us every Wednesday to find out what we’re up to now.

143: Your First Note Investing Deal

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Your first note investing deal can be daunting as hell. Have you gotten yourself set up with all the right vendors? Have you fully research things like foreclosure timelines in the market you're investing in? How long did they say the service transfer was going to take? Wait, what's a service transfer? All of these - and admittedly many more - are important questions to review as you start note investing. During today's show David breaks down some items currently going on with his first note investing deal.

Your First Note Investing Deal

So, David can now finally answer the question, "What was your first note deal?" It's a 3 bedroom, 2 bath in Ottawa, Kansas. Right off the bat this is an interesting deal to look at because certain parameters. Most notably is the small population of just under 13k. Most of the time I like to see over 35k, but it might've been due to familiarity with the area or it was just a steal of a deal. It'll be something I'll follow up with on a future call for sure.

Another interesting twist early in the game on this asset is that the borrower is deceased. So, the first order of business - aside from getting the service transfer done and getting docs in order - is to TLO an possible next of kin. TLO is a service you can use in your business to obtain important information about your borrowers.

They've also dealt with some assignment of mortgage issues on the file thus far.

Note Investing In Equity Deals

This past week we had another swing and a miss on potentially buying a pool of loans. This time around the reason we couldn't purchase was due to huge equity deals in the pool. Originally we thought we'd be the ones nixing the deal due to being uncomfortable with the level of equity in the pool. However, it turned out that the seller just wanted too much for the deals.

One of the major reasons people recommend that avoid deals with equity, or at least substantial equity, is because the pricing on that loan is going to be higher. Also, you tend to encounter whole exit strategies being taken out of the equation.

So, the general rule of thumb is to avoid them in the beginning to avoid higher pricing and getting yourself hamstrung into an exit strategy you didn't want to take, or it being the only one you an take.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • A Major Bank Once Again Offering Zero Down Mortgages
  • Brief Note Expo Recap, More To Come
  • Note Investing In Equity Deals
  • Deficiency Judgements in Kentucky
  • Robby Has A Loan Mod Mediation, Can't Wait To Hear About It
  • And much more!
Featured on the Show: Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Nov 15 2017

49mins

Play

121: Paper Source & Due Diligence Pro

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Show notes coming soon!

Apr 29 2017

58mins

Play

139: Wholetailing Might Be Something Your Note Investing Business Needs

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Wholetailing might be a phrase you're unfamiliar with - heck, you might think I spelled wholesaling wrong. And though wholetailing and wholesaling might sound similar they are very different strategies. Deciding to wholetail a deal might end up saving you some serious time and money. Let's get into it.

Wholetailing & Note Investing

The best definition for a note deal worth wholetailing is an asset that isn't busted up enough to wholesale, but isn't nice enough - or rehabbed enough - for a retail sale. When it comes to NPNs it's likely that many of the homes, even owner occupied homes, will have a decent amount of deferred maintenance issues, or outright problems.

Some of these issues are worth getting fixed, some might even be worth doing a full rehab on - there's no question about that. We've talked extensively on the show about deals we've done full rehabs on. Recently, we've also been discussing some of the major issues that can arise from rehabbing from afar.

A solution like wholetailing brings new light to a deal that might look like a time and money pit. These are the classic handyman specials you see advertised. And though wholetailing a deal will almost always bring in less money, it's worth evaluating exactly what you're missing out on. One area many people forget to appropriately allocate resources towards is holding cost - and for that matter speed. Often times just exiting a deal a few months earlier than you would've otherwise can turn the tide on what is quickly becoming a tough ROI situation.

Hardwiring Happiness

"By taking just a few extra seconds to stay with a positive experience—even the comfort in a single breath—you’ll help turn a passing mental state into lasting neural structure." This is a direct quote from the book Hardwiring Happiness. During the Distressed Mortgage Expo this past weekend I had the opportunity to meet a fantastic listener, Steve. 

When we had time to chat Steve didn't want to talk real estate. He didn't want to talk note investing. He wanted to talk about our show with Dr. Dan Wurzelmann. It was our episode on how to handle overwhelm in real estate. More specifically it was our episode on mindfulness, meditation and mental health. There aren't too many real estate groups, YouTube channels, or podcasts willing to broach a topic like that, but we did. And Steve wanted to commend us for it. 

However, more to the point, he wanted to talk to me personally. "You breathe from your mouth when you begin to struggle, don't you?" "Don't take even a second to accept gratitude in, do you?" The questions came fast, and they were as gentle as they were sharp. He cut right through me.

Listen to this week's episode to hear how the full conversation went.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Wholetailing In The Note Investing Space
  • Why And How Wholetailing Could Save One Of Your Deals
  • What Chase Thought Of The Distressed Mortgage Expo
  • One Of The Most Interesting Conversations We've Ever Had At A Conference
  • A Great New Book Recommendation
  • And much more!
Featured on the Show: Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Sep 20 2017

41mins

Play

095: Replacing a Six Figure Income with Real Estate Investing

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Many of our listeners dream of leaving their corporate job, and making the transition into full-time real estate investor. Today we talk with a guy about replacing a six figure income with real estate investing.

Wayne Snell used to work over 80 hours a week as the VP of Marketing for a large cloud based software company called Trintech. He has been investing for over 10 years with a focus on Non-performing notes for the last 5 years and was able to replace his 6 figure annual income in that timeframe through real estate investing.

He now runs and is the President for his own Note Business called Platinum Ventures. Platinum Ventures is a private real estate investment company focused on the purchase of single-family residences and real estate notes to produce above-average, safe and consistent returns for their partners.

Chase starts out the interview by asking Wayne to recollect his early years in real estate investing and how he was able to juggle his 80+ hour a week job and his growing business with Real Estate Investing. Part of this conversation is about how to stay motivated when you’re still working a full time job. A big part of this is sacrificing your personal time outside of work whether it be going out drinking while you’re on a work trip or skipping a night out with friends back at home so you can focus on building your dream (and leaving the 40 to 80 hour a week job you hate!).

Fast forward to the present and Wayne is now focused on adding a 100 notes to their portfolio this year! They go on to discuss:

  • What a contract for deed (a.k.a. a Land Contract) is and how Wayne attacks these
  • How to deal with higher risk borrowers
  • When to use your attorney in specific situations
  • How to drive up your yields on contract for deeds - Wayne targets a minimum of a 24% return total and they typically see a return above 30%
  • Creating win-win scenarios for your borrowers when convincing them to go the Land Contract route
  • How Wayne & his business partner turned a work road trip (11 states in about a week) into an incredible marketing opportunity for their business
  • How Wayne & his team have been so successful at raising capital
  • Where you should be networking to maximize exposure for your business and to acquire new investors

Be sure to listen in closely as Wayne offers a multitude of advice that can be applied throughout any real estate business. Also, make sure to congratulate Chase as him and his wife had a healthy baby boy this past week!

If you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Thanks for listening and we will see you all next week!

Listen & Watch this Week’s Show to Learn:

  • How to juggle your current full time job and still have time to focus on building a real estate business.
  • How to stay motivated on your end goals when you feel like your full time job is sucking your life dry.
  • How to do your due diligence so your projections are within a 2 to 3% margin of error within your projected ROI or end game.
  • Utilizing VA’s properly so you can focus on growing your business.
  • How Wayne attacks contract for deeds
  • What a Land Contract (contract for deed) is and how it works
  • And much more!

Featured on the Show:

  • Wayne Snell - wayne@platinumventures.net
  • Platinum Ventures - REI company focused on above average, safe & consistent returns for their partners.
  • Land Contracts and turning them into 30% + ROI deals!
  • Note Camp - Wayne will be presenting this year so don’t miss out.
Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Sep 28 2016

38mins

Play

140: Delinquent Tax Proof of Payment Strategy

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Delinquent tax proof of payment strategy was a hot topic over on our Facebook page. Robert wracked his brain for a strategy and system to improve the way we handle providing proof of payment on delinquent taxes. And it would appear as though we've made some headway. 

Deal Closings and Course Launching

It's been a ruckus past few weeks for the Note MBA team. We've had several closing, some of them from note deals - including a bit of wholetailing - a lot deal, and David closed on his flip. We take some time diving into the numbers and strategy of David's flip.

One of the key takeaways is that David did all the work himself. He even admits in the show that this probably wasn't the best strategy. After doing a little happy dance, he talks about how he picked it up as a HUD home. In the beginning he was living in the home while renovating, using a house hacking strategy. 

He bought the home for $180k, after $20-25k in repairs, he was able to sell it for $283,000. So, first off, solid freaking deal. This obviously doesn't include his time costs. However, it gave him an amazing education in what it takes to do a quality rehab job. Going forward he'll be able to take that knowledge into numerous future deals.

Today is also the launch of The Note Investing Academy. This is, without a doubt, going to be the premier course for note investing education. We've been planning it for months, working with the input of numerous other investors - including two additional "instructors" for the course.

The course itself currently includes over 60 video modules that cover everything we could think of, and have encountered in the business. And that word currently is important. We know that things changes, and that there is always something for to expound upon. So, one big aspect of the course is community feedback. We're committed to listening to feedback from everyone that takes the course.

We will continue to add to the course, and improve upon it as time goes on.  We're very excited about the the launch, and if you pick it up in the first 5 days you'll get $500 off.

Delinquent tax proof of payment strategy

It all started when Robby needed to get proof of payment over the FCI, so that he could add as a corporate advanced expense delinquent tax payments. It was like banging your head against a wall to get the proof over to FCI. Enter into the picture the delinquent tax proof of payment strategy.

With the payment slip, proof showing on the county website FCI still wouldn't move on it. So, Robby thought of a genius strategy to overcome this issue. He sent a handwritten note, a self addressed & stamped envelope, and a forever stamp to the county. And wouldn't you know it, it worked.

To see how we've moved to systematize this take a listen to this week's episode, right around the 21 minute mark.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Closing Deals All Over The State Of Florida
  • A New Note Investing Education Course Debuts
  • An Interesting Facebook Content Strategy
  • Delinquent Tax Proof of Payment Strategy
  • And much more!
Featured on the Show: Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Oct 04 2017

41mins

Play

107: Analytical Engineer to Real Estate Investor, Multiple Family to Notes

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On today’s episode, Robby and Chase interview a guy that went from analytical engineer to real estate investor. They are fortunate to have a guest on the show with a wealth of experience in multi-family and single family investing. His name is Adam Adams with AJA Investments.

They get started by letting Adam talk about how his ROI analysis software which evolved over time to allow for more efficient analysis of potential note deals. They go on to discuss how the overall effects of this on his business and the benefits to understanding and being confident in your numbers.

They then segue into discussing forced place insurance and a cheaper insurance option that Adam recently found at Note Expo in Fort Worth, Texas. One of the great things that Adam found is a program they have for pools of notes where he’s paying 1% premiums per year on his declared note value. This prompts Robby to ask a question and also issue a small challenge. Robby uses REI Guard through Infinity and he does the replacement cost / actual cash value. The question is whether Adam’s policies cover theft which they do and is extremely valuable. Adam then let’s Robby know that he insures for the note price and the work out cost. Adam let’s listeners know to ask for Beth with J.B. Lloyd & Associates.

Adam then goes into how he first got into the note space and what enabled him to get comfortable with investing outside of his backyard which Robby notes is a challenge for numerous new investors. One of the biggest assets has been finding a great Realtor in the area that he’s investing in. The one he’s been working with in one area actually ended up becoming a JV on a couple deals with him.

After the great intro, they dive into numerous topics such as:

  • The various deals Adam has worked and numbers on those
  • The importance & execution of due diligence
  • An interesting duplex deal Adam is currently working on that he initially paid 12k for
  • Adam’s main business model and how you can do the same
  • Turnkey rentals and the 1% rule
  • Various contract for deed scenarios
  • How Adam manages working through Brokers, timing with wires & why it behooves you to build direct relationships as opposed to going through middle men
  • Consistency & continuing improvements will lead to success in the long run
  • Adam’s great Lawyer referral - Franco Barile

That’s all for this week everyone!

Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:

  • The benefits of proper ROI analysis software
  • How Adam organizes his day to day activities and the levels of priorities he places on certain tasks
  • Who you should be using for forced place insurance
  • Why you should find a good (and hungry) realtor in the area you want to invest in
  • The best way to plan your day and the essential tools to use in order to stay on top of it
  • Why you shouldn’t necessarily hold on to your multi-family properties
  • The necessity of continuing to grow (even as a database developer)
  • Why you should setup a Holding LLC
  • How impactful having a supportive spouse is
  • And much more!

Featured on the Show:

Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jan 18 2017

50mins

Play

083: Ohio Fast Track Passes & Lessons From Recent Deals

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Fresh off the July 4th holiday weekend, Robby and Chase tackle a few topics Ohio Fast Track Passes, including updates on the multi-family deal in Chicago, lessons learned from recent deals, and some great interviews for upcoming episodes.

To start things off, Robby talks about how he finally got a solid property manager lined up for the apartment complex in Chicago. He’s starting to renovate units and evict tenants through cash for keys and other methods, when he ponders whether there is a document tenants can sign so you don’t have to go through eviction through the court system?

With an eviction, you get the judgment and possession order from the court and the sheriff enforces it. Robby would like to potentially sidestep this by getting the tenant to sign a possession order themselves that you could take to the sheriff to enforce without having to go through the court. Is this something that they could create or has been created? Sounds like a great opportunity to learn something new.

However, once again, Robby’s biggest challenge is separating the business and the personal aspect. He is frustrated because these tenants have no care in the world that he is trying to make this complex better and they think it’s ok to want to go on living in it for free. It goes hand in hand with last week’s topic where a borrower has come on hard times, but over the last 4 or 5 or 6 years, they have saved 0 dollars and 0 cents when they have been making 0 mortgage or rent payments. Unless you were truly unemployed during that time, this speaks to a bigger issue about the general population not having the financial education or financial IQ that they need to successfully get through their later years in life.

This leads Robby to explain the number 1 biggest takeaway he had from his personal Gary, Indiana deal is that as soon as you make contact with a borrower and they want to talk numbers - Don’t let your attorney handle it directly! It’s not their money and they can’t negotiate from a position of knowing the back end numbers so it makes more sense to get the borrower’s contact info and discuss it with them directly. The 2nd takeaway and first rule of negotiation is that you always let the other party make the first offer and Robby’s self-reflection reveals the fact that he should have gotten the borrower on the Gary, Indiana deal to give their offer first so he could see what they thought was a reasonable payment plan to maintain their home.

Chase then brings up something he heard on NPR about a study gauging a nationwide sentiment of Wall Street where the age group of 18 to 24 and 45 and 64 had very little trust in Wall Street compared to a little more trust from other demographics. One lady was quoted saying “the good stuff doesn’t really affect me, but the bad stuff could affect the entire nation." Basically saying, I don’t get to participate in the good, but when things go south, everyone has to participate in that.  It’s interesting to contemplate when talking about our Nation’s financial education & savings to hear quotes like this from the general public.

Finally, Chase brings up the Fast Track foreclosure bill in Ohio that they mentioned a couple episodes ago. As of last week, Ohio lawmakers have passed a law specifically targeting abandoned “zombie” properties to hasten up the foreclosure process. Quoting Robert Klein , “Ohio has now put itself ahead of the national curve in fighting community blight. Outdated foreclosure laws are one of the primary causes of blight in communities across the country and Ohio is one of the few states that is doing anything about it.” A new law will now supposedly go into effect in 90 days, but Chase & Robby are very bullish on it going into effect that quickly. Once complete, though, this should speed up the foreclosure process to as little as 6 months on vacant and abandoned properties. They are hopeful for the potential good this will do for their businesses & discuss potential future ramifications. Supposedly, a few people in Congress are going to keep their eyes on this as well to see how it pans out to determine whether it should be implemented across the country.

That’s it for this week and be sure to keep a watch out for the next few new episodes as there are some very interesting guests coming down the line! You’ll have to wait to find out who, though!

If you have any questions for us or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • A Potential Consent To Judgment For Renters
  • How The Nation Feels About Wall Street
  • Why Financial Education Matters For Our Borrowers
  • An Update On The Gary, Indiana Deal
  • Ohio Has Officially Past Legislation For Fast Track
  • The Two Big Takeaways From Dealing With Attorneys And Borrowers
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jul 06 2016

23mins

Play

094: Flipping Homes to Raising 11 Million Dollars in Note Investing

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If you've wondered about making the transition from flipping homes into note investing, today's episode is for you!

Since Robby is unable to find a decent internet connection while on vacation in Spain, Chase is joined this week by Bob Malecki.

Bob is a professional investor who has been active since 2006 and specializes in the repositioning of stressed mortgage debt for both equity and cashflow. He has currently raised over 11 million dollars through his company, Resolution Capital Management, to build up a substantial portfolio with assets in locations including, but not limited to, North Carolina, Tennessee, Oklahoma, Texas & the Seattle area to name a few.

Bob went the traditional route of investing through buying rentals & flipping homes before he discovered note investing through a combination of Eddie Speed and his real estate agent who was also an investor. Bob ended up buying his first note (out of his self-directed IRA) on a mobile home where he realized a 42% annualized return on his investment and hit the ground running from there.

He explains that when speaking with new investors or others about what he does, he words it to the lay persons that he “renovates” or repositions distressed loans to help the borrowers start repaying on their debt to create cashflow for their investors. He also enlightens & reminds listeners & investors in this business (and all real estate investing really) that you should “Live where you want to live, but invest where the numbers make sense.”

Some of the key topics they cover throughout the rest of the interview are:

  • Investing out of your self-directed IRA
  • Sourcing Investors & how to earn their trust
  • Where to get a better understanding of the Note industry
  • Creating & setting up a fund for your real estate business
  • Marketing Do’s & Don’ts
  • The pitfalls of the industry for new investors

Chase & Bob cover a wealth of knowledge throughout on these topics & many more so be sure to take notes (no pun intended) and as always…

If you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Thanks for listening and we will see you all next week!

Listen & Watch this Week’s Show to Learn:

  • Bob’s story on discovering & building a Non Performing Note Business
  • What functions, events & areas you can go to learn more about the Note Industry
  • How to attract investors to want to work with you
  • How to work with out of state Investors
  • The unbelievable power of networking
  • The difference between Reg D, B & C funds and which one Bob setup for his business
  • And much more!

Featured on the Show:

Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Sep 21 2016

42mins

Play

085: Rent Reduction, Standing Your Ground & Fanny Mae’s Sell-Off

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Robby shares his recent experience with handling a failed rent increase by his property manager and talks about the importance of standing your ground when someone makes mistakes that financially impact you.

He also talks about a recent joint venture deal with an interesting twist. The property had a buyer’s contingency on selling a primary residence which caused them to repeatedly push back closing date. Robby then shares his biggest takeaways from that experience and how he will handle similar situations in the future.

Get full show notes and more information here: https://bitly.com/

Jul 20 2016

36mins

Play

099: Love It Or List It, You Decide

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Love it or list it? To start off the show, Robby discusses a decision he has to make with his condo/loft in Las Vegas. He needs to decide whether to rent it out again or to sell it and use the capital for a multi-family deal he has his eyes on.

Chase lets listeners know that a survey will be emailed out to the Note MBA Insiders who will get to help Robby decide what to do!

Chase then brings up the idea, from a few shows ago, about bringing on a tax/accountant guy to interview on the show. He let’s everyone know that it is actually in the works and is trying to make it happen before the end of the year.

The guys then segue into the topic of Contract for Deeds. Recently, a well informed listener (on the topic of contract for deeds) reached out to Robby to give him a contact for an attorney in Columbus, OH and also, a link for a great resource as well which is:

It’s an extremely beneficial resource that links to each State’s laws on Contract for Deeds!

Robby then discusses another email about Contract for Deeds from a listener in Orlando named Earl Green and how he has purchased 5 of them in the last 5 months. He divulges some great info about how he has found some of the unspoken nuances with them. This turns out to be some excellent intel for Robby who is very grateful as it has saved him some much needed time and money during the due diligence phase. Listen in to hear 4 great tips from Earl that will be a huge assistance with these types of deals!

1.       Eviction clauses may work on the borrower, but my attorneys have warned against it.  I’ve checked with them in GA, LA, SC, NC, FL and AL.  All indicated the CFD gave the borrower equitable interest and a foreclosure or similar legal action would be required.  LA had a fast track of 45 days, but that’s because it’s similar to their Bond for Deed (Title 9-2945).  It wasn’t because of the Agreement for Deed language.

2.       One of the more prolific sellers of CFDs has been sending QuitClaim Deeds signed by their attorney, but the Power of Attorney documents haven’t been included.  Some municipalities are recording the QCDs, but the QCDs are being challenged when they are reviewed by a Closing Attorney.

3.       Foreclosure may actually take longer in GA.  My attorney warned the Agreement for Deed (CFD) didn’t include a Power of Sale clause.  Without it, foreclosure would become a judicial matter instead of the typical and faster non-judicial proceedings.

4.       Supposedly NC has recently added some statutes regarding CFDs, but the language was unclear.  The problems with the language could leave you without recourse if the borrower could not be located.

On another note, Chase reveals that a great upcoming interview will be with a company who does Special Servicing. For those that don’t know, Special Servicing is the borrower outreach side of servicing and this group has an amazing ability to reach out to the current borrowers to help create win-win situations for all parties involved.

This will most likely be a few episodes down the road so keep an ear out as there will be some great content to come out of it. Robby shares that sentiment as the company has served him extremely well on multiple deals as of recent and he goes on to explain one of his current deals.

Chase then brings to light that they are a third of the way through the 4th quarter and reminds everyone of the fact that their goal review is coming up! Robby agrees and shares that he wrote a note to himself last night that he has been “neglecting his health, both physical and mental, in exchange for more money and has continued to restrict himself from spending to enjoy the fruits of his labor in the pursuit of even more money.”

This statement has been helping Robby revise his goals while also prompting him to reread Tim Ferriss’ 4 Hour Work Week which provided some meaningful reflection points to help guide him in 2017.

On a final note, the guys let listeners know that Robby will be at Note School’s Rich Rewards Class this week in Orlando for any who want to register and attend. Also, Note Expo is coming up on the 4th and 5th in Fort Worth, Texas and there is still time to register for those that have been thinking of attending. A great interview with Daren Blomquist came out of last years Note Expo so there is definitely a ton of value there.

Chase is very much looking forward to next week’s episode so be sure to tune in and listen!

Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:

  • The importance of balancing your work and personal life
  • Orlando Investor Earl Green’s 4 great tips to save you time and money with Contract for Deeds
  • What Special Servicing is and why you may want to be using a company to do it for your business
  • About a few great interviews and podcast episodes coming up that you will not want to miss
  • And much more!

Featured on the Show:

Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Oct 26 2016

31mins

Play

053: Eddie Speed, Note School & How You're Leaving Money On The Table

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We talked about a sit down with Eddie Speed leading up to Note Expo a few weeks back. On today's show we deliver on that promise.

During the interview Eddie breaks down how he got into the business, where he's seen it, and where he thinks it might be headed. We also dive into a unique twist on how you might be leaving money on that table by not utilizing seller finance in your business.

The guy behind note school owes his time in this business to selling a horse to his now wife's father. Going over the horse transaction in detail over ice-cream, led to an 8 hour discussion about real estate. Which then in turn led to a few year long apprenticeship for Eddie in the real estate business.

He moved to the Lone Star state to work the local market of seller finance notes here. In the show he details why living in the market you invested in wasn't a luxury, it was a necessity.

We go on to discuss direct marketing mailers, buying straight from FDIC, and the most recent reports about subprime making a comeback.

About halfway through the show he drops some major knowledge that everyone needs to hear. In fact, he actually directs you to pull out a pen and paper to make sure you write it down.

We hope you enjoyed this interview with Eddie Speed. If you have questions you want to throw at him the next time we sit down with him, or want to chime in, have any questions for us, or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • We Interview The Man Behind Note School
  • How Some Of The Subprime Chatter Today Will Impact The Business
  • Where You Might Be Leaving Money On The Table In Your Deals
  • The Three Things That Will Make A Buy In Notes
  • Why Explaining The Business Accurately To Others Matters
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Dec 09 2015

43mins

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078: Working Full-Time While Investing In Real Estate

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How can you work full-time while investing in real estate? Today we interview an investor that works 60+ hours a week driving a truck, and is still an active note investor. We’re talking with Gene Chandler of Chandler Financial, LLC from Indiana. Like a few people we've had on the show before, and many of our listeners, Gene got started in real estate investing by house hacking.

He started investing in the 80's when interest rates hovered around 10%.  After house hacking his way into numerous rentals and getting to the point of managing 52+ rentals, he and his wife started doing real estate development in the early 2000's.

However, like many he took a huge hit from 2007-09. He didn't sit around licking his wounds, though. He sat down and took inventory of the situation. He owned his mistakes.

Even after the setbacks he knew real estate was still the best way to get ahead. Gene talks about the biggest mistake that he changed about his business was reserves. He now watches the reserves available at any given time for his business.

We touch base on the live Periscope videos Gene has been shooting to market his business. You can find him on Periscope at ChandlerFinancial. If you've been wanting to start doing video, you need to check out his 'Scopes.

Gene breaks down his first few notes deals, which spoiled him at bit in the business, they were complete home runs.

You can shoot Gene an email at chandlerfinancialllc@gmail.com.

If you have any questions for us or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • How To Invest While Working A 60+ Hour A Week Job
  • The Benefits Of Living In A Note Investing Market
  • Why Great Communication In Your Business Is Important
  • How The Oldest Investor On Periscope Is Crushing It
  • The Good And The Bad That Comes From Hitting Home Runs On Your First Deals
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jun 01 2016

41mins

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054: Dave Van Horn, Notes Are A Vehicle To Build Wealth

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When we were at Note Expo, one of the things a ton of listeners we met mentioned they'd love of of on the podcast was interviews. It might seems like we took that too close to heart this week.

Dave Van Horn was sat down to talk to us about the business, and his 30 year perspective of real estate. The chat was too good to keep to ourselves for too long, so you get back-to-back weeks of interviews.

Dave has spent 30 years in the real estate business! Now before you get any ideas about him walking into a turnkey business, wait until you hear his story.

He was raised by a single mom with six kids, and after school he got married and moved back in with his mother. At which point he couldn't get a job, and started doing construction work. He grew that into his own construction business.

Dave goes into talking about how he originally bought his rental homes on credit cards. He'd use those credit cards to buy homes, then his construction and painting business to fix them up. Right around the time he amassed 40 doors, he was injured on the job site.

He dives into the importance of what he learned about owning a business that revolves around just him. He wasn't business building a legacy of wealth.

A contrarian at heart, Dave brings some amazing perspective to insurance, taxes, wealth building, and so much more in this episode.

If you want to know more about Dave head over to PPR. You can also catch him regularly posting on the Bigger Pockets blog. Also, be sure to grab Dave's free ebook.

We hope you enjoyed this interview with Dave Van Horn. If you have questions you want to throw at him the next time we sit down with him, or want to chime in, have any questions for us, or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • How Note Investing Helps You Build Wealth
  • Where To Look Within The Economy For The Strongest Indicators For Where Real Estate Is Headed
  • What 30 Years Of Real Estate Has Taught Dave About Marketing
  • The Many Buckets You Need To Protect Your Family
  • How To Build A Fortress Around Your Business
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Dec 16 2015

42mins

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103: Thanksgiving 2k16 & Drug Dealer Cellphones

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It's Thanksgiving 2k16 people! In this week's show we take time to say thank you, talking about outsourcing, buying drug dealer cellphones, and so much more.

Right off the top, this week's episode is the annual Thanksgiving edition, and Chase dives right in with gratitude. As part of the weekly Note MBA Insider email, he already took some time to thank the listeners and Note MBA community. However, just in case you don't get the weekly email, he takes a moment to say thank you.

Moving right along with the Thanksgiving analogue, Chase prompts Robby to discuss how full their plates are currently. They've been incredibly busy these past few months. Robby notes that one of the biggest opportunities with all these projects is closing them out. He harps on the need to finish what they've started to keep from spinning too many plates at once.

We've talked before about the importance of having effective boots on the ground in areas you're investing. Well, what's the next best thing to your own boots? During the interview with Paul Birkett last week, Robby was up in Chicago taking care of business. While he was there Robby sent two of his guys to Atlanta, GA. Robby talks a bit about this process, and the importance of being comfortable with 80% from outsourcing.

Throughout this year the guys have done a massive expansion of their business. They talk about how as the year closes out its been a few months of contraction now. Robby talks about some of the concentration that is taking place within areas of the business that have expanded.

On a final note, the guys mention that this might be the last show of 2016. It's likely they'll be back for a goals episode to really close out the year, but that hasn't been scheduled yet.

Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:

  • Huge gratitude bomb to all entire Note MBA community
  • Robby sends his guys to Atlanta
  • The ebb and flow of expanding and contracting your business 
  • Building out SalesForce for some additional business automation
  • Robby does some cussing about Chicago, SOPs & business structures
  • It's about learning from your mistakes and the real life tuition you pay
  • What Robby thinks about regarding Paul Birkett's take on pricing in the market
  • What holds back the majority of investors from getting started and also scaling up
  • And much more!

Featured on the Show:

Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Nov 23 2016

36mins

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086: Settling Deals, and the Power of Delegating & Developing Systems

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This week, Robby and Chase discuss settling various deals and the biggest takeaways they walked away with. They also dive into the importance of developing systems for your business, as well as outsourcing, delegating, and what you can expect on the next episode about goal setting. 

Get full show notes and more information here: http://www.notemba.com/settling-deals-power-of-delegating-developing-systems

Jul 27 2016

37mins

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093: Loss Mitigation & Capital Raising On The Way To 198 Notes

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This week we dive deep into loss mitigation, capital raising, relationship building and more.

On this week’s episode, while Robby is off on vacation in Spain, Chase has a great interview with an experienced note investor named Jay Tenenbaum who is also the Managing Director at Prosperity Investment Fund. Jay will actually be presenting at the IMN conference coming up on September 22nd and 23rd as well. He will be featured in a panel entitled “Getting a non-performer to re-perform in this low rate environment; work out modification & rehabilitation strategies.”

Jay used to be a practicing debt collection attorney for 20 years in Southern California. After closing the law practice, he started investing in judgment liens with a focus on real property. He  then attended Scott Carson’s Note Buying for Dummies Workshop in August of 2013 which opened his eyes to this different debt instrument which ended up being an easy transition for him based on his past experience. His company has now bought 198 assets with an acquisition cost of over 3 million in just under 3 years.

Some of the topics that they discuss in the note space are:

  • Capital raising strategies
  • Loss Mitigation
  • Relationship building and partnerships when it comes to growing your team
  • Seller relationships & some great insight on building those
  • Seller Financing strategies

Jay details his experience as a debt collection attorney and how he came into the note business without any prior investors he could easily reach out to. He reflects back on how he was able to raise capital other than his own money.

When it comes to Loss Mitigation, Jay goes over his initial question that he asks the borrower - “How can I help you?” He goes over his strategies on how he is able to achieve a less than 10% default on his loan modifications and the key is to listen. He also discusses a 3rd party credit counselor called Polaris and an interesting story concerning one of his first deals that he worked out with a borrower.

Another great topic they cover are the partnerships and ways that Jay was able to grow his personal note business which include everything from family to close friends to outsourced agencies. Growing up around service based businesses, Jay was able to leverage that experience to build a solid foundation for this service based business and his vendor relationships.

One of the final concepts they cover is the ability to build lasting relationships with sellers. Jay has some great insight here as he has only worked with 12 sellers for the 198 notes they have purchased.

Listen in to the rest of the episode to learn about seller financing strategies with notes and how to build several revenue streams within the same asset!

That’s all for this week everyone and thanks for listening.

If you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:

  • How Jay Tenenbaum came into the Note Business & was able to purchase almost 200 notes with an acquisition cost of over 3 million in a little under 3 years
  • Capital Raising Strategies to employ at your note business
  • How an easy conversation can lead to unbelievable profits
  • The best way to build relationships with your sellers, vendors, & borrowers
  • Seller financing strategies for notes
  • And much more!

Featured on the Show:

Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Sep 14 2016

50mins

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104: Goals R' Us

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Show notes coming soon.

Dec 28 2016

1hr 18mins

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075: Learning Lessons While Note Investing

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Your hosts are back together for a show of their own this week discussing everything from learning lessons while note investing to a gender reveal to an upcoming working vacation for Mr. Woods.

Fresh off some travel to Las Vegas for Paper Source Seminars we have a brief recap of the experience, and want to send another big thank you out to Bill and Allison for inviting Robby out to attend the conference.

Though Robby didn’t spend much time in the room listening to the speakers, he was able to engage a new vendor in Financial Forensic Services, LLC.

If you network with Robby via social media you might know that he just finished reading a book by Sherman Arnowitz called: The Art of Investing in Distressed Second Mortgages.

In regards to learning lessons for this week, Robby discusses the need to have locked in your pricing and terms with a seller before you start spending cash on due diligence. Also, there’s a seller financed note out of Texas that had some very important escrow wording left out that needs to be revised to bring the loan in line with HAMP guidelines.

We've got some travel hacking tips on using your business credit cards to rack up sky miles (Robby’s business class ticket to Hong Kong is only going to cost him 70,000 skymiles and $5.60, not bad for a ticket marketed at $4,600 online).

Quick update on Property Masters, the company we use for property preservation. They were engaged to handle the remodel and get a property market ready in South Carolina. Not only was the work done at a very professional level, actually exceeding the expectations of our local agent.

Robby was able to pay for the repairs on his credit card, already getting him nearly 20% of the way towards his next round trip flight overseas in business class for pennies.

And, a final congratulations, to the Thompson clan as they add a baby boy to the family!!!

If you have any questions for us or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • We Take Time To Debrief This Year's Paper Source
  • A New Vendor To Do Financial Forensics
  • Mortgage Doc Woes In Marshall Texas
  • A Property Vendor Crushing The Job
  • How To Travel The World And Invest In Notes At The Same Time
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

May 11 2016

38mins

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080: Ohio Fast Tracks Foreclosures & The Netflix Manifesto

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In this week’s episode, Robby and Chase segue beautifully through a number of topics ranging from dealing with Ohio fast tracks foreclosures and Chicago foreclosure nightmares to contemplating what they can apply to their own businesses from billion dollar companies such as Netflix & Zappos, who have created & maintained amazing company cultures centered around freedom, excellence & paying your great employees what they’re worth.

Things get started discussing some assets up in Chicago and Ohio that have been going through the foreclosure process for a while now and have been tied up in a court nightmare in Cook County.

However, Chase brings to light that there is a Fast Tracks Foreclosure bill that is running through Ohio legislation right now that will potentially speed up the process to as little as 6 months so there is light at the end of the tunnel. The State Government seems to finally be concerned about these blighted properties and their effect on increasing crime rates and decreasing property values. Robby and Chase contemplate why they haven’t taken a more common sense approach sooner with these vacant & abandoned properties the bill is targeting. There’s a community crisis on a national proportion with these blighted properties and this bill is about the preservation of national real estate on a more macro level.

Also called into concern is the CFPB’s (Consumer Financial Protection Bureau) $15.3 million dollars spent on internet ads and general advertising, which is coincidentally managed predominantly by the same advertising firm that runs President Obama and Hillary Clinton’s Ad campaigns.

One of NoteMBA’s past guests, the great Dave Van Horn, recently published an article on BiggerPockets relating to some of the challenges presented by these last two topics. It’s titled, “7 Common Challenges to Real Estate Note Investors” and goes over compliance issues, collateral issues, allonges & employing legal counsel among other things. There’s some great insight to bolster your understanding of the industry which will give you firepower when talking to your potential JV investors.

After that, they dive into the Netflix Culture Manifesto and how this is a must read for anyone that is thinking of adding individuals to their business. Netflix’s & Zappos’ take on employee compensation, unlimited vacation time, and not tracking hours is a pretty great revelation for someone looking to grow and scale their business.

Finally, Robby and Chase discuss Ryan Holiday’s new book, Ego is the Enemy, their summer conference schedules, the pitfalls and benefits of AirBnB investing, and Chase’s recent 2 hour webinar on blogging for business that is accompanied by a 22 page eBook (Feel free to email Chase for more info on this at chase @ notemba.com).

Ultimately, Chase and Robby agree that you need to continue to learn how to sharpen the knife and make it simple in order to grow your business successfully!

If you have any questions for us or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • Wait, How Much Is The CFPB Spending On Advertising
  • The Manifesto Netflix Uses To Build Company Organization
  • Ohio Fast Tracks Foreclosures Process
  • Why AirBnB Might Be An Additional Exit Strategy
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jun 15 2016

39mins

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077: Back Where It All Started With Note Investing & Note MBA

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We're back where it all began for Note MBA, the top note investing show on iTunes. Robby is in one of his favorite places in Asia, Chiang Mai. While Chase records from his office in San Antonio, Texas.

For those that might be new to the show, here's the rundown. Robby and Chase met at Noteworthy in Las Vegas in late 2014. Over the next two months, Note MBA was born.

They start off today with Robby talking about the correlations between running your business while you travel, and working a 9-5 to job. The highlights would be setting appropriate expectations and putting systems in place.

After that, they dive right into note investing deal talk.

First up, having a hedge fund rewind a deal on you. This will happen from time to time. After you've already wired money in the bank or hedge fund, if something isn't right they might rewind a deal, and send your money back. This isn't a common occurrence when note investing, but something to be aware of.

There has also been a focus on higher value asset acquisition. We've had some money come to the table only wanting this asset class. We'll bring you some case studies with these higher value deals when they finish up.

Moving on we talk about how the Content Spider facilitated the raising of capital for a recent acquisition in Illinois. Last week Chase went over the real estate marketing strategy he's been using for some time.

They finish out talk about some foreclosures coming up, and how people are always looking for deals.

If you have any questions for us or comments send them our way at ask@notemba.com.

Listen to this week’s show and learn:
  • We're Back Where The Note MBA Podcast Began
  • When A Note Investing Deal Gets Rewound On You
  • Recent Note Acquisition In Bloomington Illinois
  • A Psychology Trigger Word You Should Be Using
  • The Marketing Strategy The Raised Capital Recently
 Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

May 25 2016

27mins

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148: The 5 Best Ways To Lose Money In Note Investing

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The 5 Best Ways to Lose Money in the Note Business

Intro

#5 - Investing Your Last Dollar

Twofold -- you have to keep money on hand for holding costs and workout expenses. If you have $50k to invest, you better not buy a $50k deal or you are going to stuck holding that deal forever. Your servicer’s kids need to eat too, you know.

You also do not want to invest the last of someone’s savings. These will be the investors that constantly want to check in and see how things are going. They need to know their last pennies are OK so they need to hear — repeatedly — that all is well. You want the guy with enough invested overall that by the time he gets around to checking in with you, you’ve already emailed him an update. Then once he’s sure you’ve got it together, he brings you more $$.

#4 - Sloppy Due Diligence

We all know where to start -- beds, baths, square footage, sale comps… But there are things you could be overlooking that might not be a big deal if you budget for them or might make your deal a total loss:

Do you CALL on the taxes? County websites are not great, even if some are better than others. You cannot be sure that looming tax certificate or tax deed sales are posted. You also cannot be sure that the county website details what city taxes, school taxes or even local sewer charges might be delinquent. You have to call and you have to ask the right questions.

Do you call code enforcement to see if fines are accumulating? I’m not sure everyone understands how quickly these charges can get out of control. We are currently foreclosing on a FL condo that has had a torn screen on the patio for years. Her outstanding town lien is over $600k. (We’ve been assured that since the town has not had to actually spend money on the issue, it will be wiped out with the foreclosure. I’m choosing to believe that until proven otherwise.) Other issues — like forcing the town to come mow the lawn — are easy fixed even though you don’t yet own the house. I’d much rather pay $100 a month during foreclosure to have the lawn mowed than get a $5000, earning more interest every day, bill from the city.

When you check condition on Google, do you zoom out to see if there is something unsavory near the house that will negatively affect its value? Do you know how hard it is to sell an REO close to a sewage treatment plant? Do you want to worry about what the heck is in that weird green pool of something down the street? It's no news that foreclosure happens and you want to take back an asset you can actually sell.

Have you checked to make sure the borrower name matches the current owner’s name? If it doesn’t, it might have gone to tax sale. Or the HOA might have already foreclosed. If the new owner is a beneficiary of the original owner, there could still be some probate issues. No one needs a distant cousin 700 times removed to put a cloud on title.

If it’s a condo, have you checked to see if there is a rental or age restriction? This will make it harder to sell the asset if you take it back.

Do you check Pacer no matter what the tape says about their bankruptcy status? Even if they actually aren’t in BK now, if they filed previously, the case information will be available and you can get great insight into their life at that time vs. now. It’s a great window into why they aren’t paying.

Do you check county records to see if the borrower owns any other properties? This is where a deficiency judgement might be a great play. There are different opinions in our space about filing for deficiency judgements so this may not apply to you. If the borrower works with me, there is no way I would even consider a judgement. But hostility, lying, forcing me to evict you? I’ll do it if I can collect.  If they own other properties — their own home or other rentals — there’s my money, assuming that state allows me to file a judgement.

Do you have your attorney review the collateral file BEFORE you purchase the loan? Collateral custodians do not understand the legal nuances that each state enjoys. Even if they find a gap in your assignment chain, they can’t recommend a fix for it other than using their expensive, pay even if we are unsuccessful document management process. Not only can your attorney find issues, find cures for those issues, and tell you how big a problem any unresolved issue might be, they are going to recognize issues that are unique in their particular state. Without question, you will pay more money for an attorney’s file review. But if an extra $100 keeps you from throwing your money away on an uncollectable deal, it’ll be the best $100 you ever spend.

A quick example. I was reviewing a deal in Ohio -- a first on a typical 3/2, 1500 sq ft single family home. A husband and wife were on the deed but only the husband was on the mortgage. For the newbies in the room, that’s not a deal breaker as long as the non-borrower spouse grants permission for their ownership interest in the home to be used as collateral. The wife had signed to give her permission so I checked that off the list and moved on. Everything else was fine -- the assignment chain, the note and allonges, servicing history, even the entire loan app with all it’s disclosures and documentation. I was ready to close and had my funding set up. All that was left was sending the wire.

And then I got the call. The language that was used when the wife approved the mortgage was incomplete. Apparently, in Ohio, spouses (both men and women) have something called a dower interest -- beginning forever ago when a wife came into a marriage with a dowery. And apparently, the approval has to specifically address the dower interest and this one did not. Worst case scenario, I wouldn’t have been able to take full ownership of the house. I’m not sure exactly what you do with 95% of a house. My attorney saved me from a huge headache that a collateral custodian would have never found.

#3 -- Accounting

Accounting in the note space can be such a torture. We’ve all dealt with that deer in the headlights look when explaining note investing to a potential funding partner. We shouldn’t have to deal with it from a professional.

Grasping the concept doesn’t seem to be a matter of intelligence or education but rather being able to put aside what you currently know about real estate investing long enough to see a new path. And accountants, either by birth or by training, aren’t great at putting anything aside. As a client, you really have to walk them through a few deals before they get it. And take it from me — unless you personally know a note investor that has used this accountant, don’t believe them when they tell you they have experience with note investing. They certainly don’t all lie but putting a one off seller finance note that has never missed a payment into the system is a lot different than trying to book 100s of semi performing, went BK, paid every third month for a year, finally foreclosed but now have to evict kind of deals. Exaggeration affects all professions.

If you need an accountant, there is a guy who presents at different note conferences you might consider. He’s not particularly good at answering questions from the audience but he could be a fantastic accountant. His firm is large and there is nothing necessarily wrong with with staff accountants but the head guy’s understanding of the notes space does not necessarily transfer to his staff. You have no idea if the junior accountant you’ll be assigned to is any good let alone trained or trainable. If you are interested in talking to them, I’ll be happy to give you their information off stage. But you have to promise me that you are going to press them to make sure the staff member assigned to you either knows note investing or is willing to be trained on it.

Another headache is the fact that when someone has a great accountant, they really have to keep that on the down low. I’m currently still testing the one I’m using but let’s say I was comfortable enough to recommend him. What if every investor at DME suddenly calls him during tax time? Would my returns ever get done? And done efficiently and in a timely fashion? Until there are more hours in a day, passing this particular resource along to everyone does make your life more difficult.  

That’s why I think your best option for finding a good accountant lies in your network. With almost everything notes related, you need a group of people you can count on for advice and good recommendations. If my guy turns out to be good, I’m certain he can handle

#2 Tunnel Vision/Inflexibility

This issue can affect your business in many ways.

When you decide you will only invest in one market or only invest in one type of deal, you always limit your deal flow. Currently, there is a remarkable number of tapes flying around but prices are pretty high and quality is kinda low, making it tougher than usual to find a good, solid deal you know will make your investors happy. If you have a really narrow focus, you might find yourself out of deals. You need to explore different note deals (1sts, 2nds, contract for deeds — performing, non-performing), different markets (judicial really isn’t so bad if you have patient investors and holding costs built into your model), different real estate deals (you end up with an REO from time to time so how about starting with one? You usually note yourself into a deal — how about noting yourself OUT this time?) or different asset classes (have you checked out commercial?). You can also try finding new deal sources (if you’ve always bought from hedge funds, have you tried calling banks? Current investors? Looked online?). When deal flow changes, you have to change with it or it won’t be pretty.

Another inflexibility we see amongst note investors is a hard focus on purchase price. Don’t get me wrong — you’ve gotta know your numbers. But you have to make sure you are hard and fast on the RIGHT numbers and flexible on the others. I confess — this was a big one for us. First, the prices some sellers are looking for — and unfortunately, some of the newer investors are willing to pay — have gotten crazy. There’s not enough room in a note deal to pay almost 80% of value because you really have no idea what the inside of that house is going to look like. You need that buffer. But how do you find your absolute highest % of value you’ll pay? Well, it’s not like I did at one point and pull it out of the air. “I absolutely, positively will not pay over X% of value!” Is a statement that can get you stuck. Because ultimately its not about price. It's about your ROI. Let’s say your seller counters at 60% of value. If you have decided that 60% is just nuts — with a few rounds of “that seller is out of his freaking mind!” — you may be walking away from a good deal. Did you run your counter through your ROI calculator? Is your return still at or above your target return? Then why would you walk away? No one wants to overpay obviously but prices are what they are. Deal flow is what it is. You pay what you have to pay to get the results you need. What’s your alternative? Sit around waiting for lower prices while your investors put their money in other deals? Do that for too long and you’ll be out of a job.

Taking that a step further, what if that new price lowers your expected ROI to just under your usual target. I’m talking 2% off, maybe 5% off — not cutting it in half. Do you immediately say no? Or do you take a beat before you decide?

This has been an issue Chase and I have dealt with frequently. If I’m going 50/50 with my funding partner, an ROI of 20% is hard to sell, especially as a one off and especially to investors in this room. But if keep turning down all of my counters, I lose credibility with both note sellers and my investors. I need both to keep coming to me, not looking around this room for other investors who might be able to close. That means I have to consider changing the deal split. If I take less so that my investor gets a great return and then brings me more money, have I really lost anything? In this 20% example, say I go 14/6. My seller is happy. My investor is happy. And it’s not like I’m out on the street. I’ve just made an investment in both relationships and still got paid a return on funds I didn’t even have in the deal. Note investing is a numbers game so if my return on 1 or 2 deals out of 20 dips a bit but my business overall is stronger, it’s a definite win.

Honorable mentions -- vetting, education

Vetting

Not vetting your investment partners. This holds true for both the active and the passive side of the transaction. I know you want the money for your next deal but do you really know the person you are taking it from? I’m not talking about the investor questionnaire and the 5 touches you need to do to keep the SEC happy, although those are obviously important. I’m talking about what it’s going to be like to have this particular personality in a deal with you. Are they going to call every day to see what’s up? Will they respect your knowledge and experience when it’s decision time or will there be a lot of second guessing and repetitive questions? Likewise, are they going to be so hands off that you can’t get a hold of them to make sure you are both on the same page? If this person seems annoying before funding, they aren’t going to get much better after funding. Obviously, you won’t become BFFs with every investor but the reality is, a bad investor can make even the most profitable deal torture. Hard as it is to imagine, you could actually turn someones money down.

On the flip side, for our more passive investors and the newbies who want to learn by partnering on their first deal, what kind of vetting are you doing on the guy you are giving your money to? Charisma won’t keep your money safe. Excitement and energy are not synonyms for effectiveness or focus or even character. A wonderfully detailed story about how a great a deal went could be just that — a fantastic story. Could have been someone else’s deal or it might be total fiction. Your due diligence cannot stop at the deal itself. The best ways to vet your asset manager finding someone who has actually done a deal with this person and see how it went. Go online and look for reviews. They are harder to find than reviews for an Instapot but they are there. Start by searching Google with the term “I invested with” and his or her name and see what pops up. You can do the same on Bigger Pockets. You can also pick the largest counties in the state the investor lives in and see if any liens or judgements have been filed. In general, we do more research before purchasing a television set than we do before handing over our savings. Don’t let that be you!

Education — While note investing is a lot harder than some people make it sound, you probably could learn it all by yourself. Lots of us write books and articles, maintain a blog, record a few videos — put out a lot of content that could help someone start from scratch. But that takes an incredible amount of time and energy. And it’s isolating — you don’t meet anyone who is learning alongside you compare notes and bounce ideas off of. Wouldn’t it be much easier to dive into a formal note education and speed up your learning curve? Yes, it will cost you but so will taking a bath on deals you bought before you knew better. And your network? With many programs, your access to other investors explodes and you can watch, listen and learn from so many more people faster than you ever imagined. And there are many options out there — choose the one that fits your learning style and pocketbook best. Time really is money so if you shorten the learning curve, you’re investing sooner and better than the rest.

#1 Not acting like you are running a real business

While some people are operations and systems focused and others find that painful, you really do need to have a system in place to manage your note investments. There is a lot of detail and paperwork in every deal and if you can’t keep on top of it, you’re going to lose money. In the beginning, your workouts will simply take longer because you won’t have the information you need on hand to make decisions quickly. As you progress, you’re going to miss nuances in the data that you can use to make sure you don’t leave money on the table.

Of course, your systems are going to evolve over time. The spreadsheet you use for your first 2 notes is going to look a lot different than the software you are using by your 100th deal. But you have to keep the business part of your note business in mind as you grow to avoid chaos. Because as you add another deal here, 2 more there, maybe another 5 a little while later, you feel the need to keep it all organized looming. Are you going to manage that need thoughtfully as you go along or are you going to keep putting it out of your mind until it blows up and all your deals are in limbo for a bit while you try to dig yourself out of the chaos?

This also applies to processes. Some elements of the note business are pretty repetitive. Reviewing a collateral file. Boarding a loan. Vetting an investor. Adding force placed insurance. All important tasks but things you eventually could do in your sleep. And what happens with repetitive tasks after a while? We get sloppy. We get busy and don’t focus like we should. And then we miss things.

What if you documented the process and then followed a checklist every time? If you’ve got 10 things to check off while reviewing a file, are you just going to ignore step 6?

And what about when you finally hire an assistant? Training — and trust — are tough. How much easier will it be on you if you can look over their completed checklist to see that they covered it all? A thoughtful management system — with appropriate checks and balances — will help you function as a real business and not just a hobby.

Aol email addresses

Not putting your face on LinkedIn

Using FB for business but having your cat as your profile picture

Not managing your relationships

Mar 07 2018

38mins

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147: Note Investing to REO & Finding Yields In Different Markets

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Feb 21 2018

1hr 25mins

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146: Endure The Monotony Of Success

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Endure the monotony of success, according to Gary Keller that is something that sets winner apart from everyone else. "The number one reason most people will fail, it's because they are unwilling to endure the monotony of success." Robby talks about it at the top of the show, but there is no question that 2017 was one crazy year. We experienced some tremendous opportunities for growth and education through some hard knocks. And though we are definitely grateful for that. We're also grateful for the other opportunities that came our way as well. So, let's dive into the first episode of 2018.

Setting 2018 Up For Success

If you've been apart of the Note MBA community you know transparency is important to us. We love that we get an opportunity to speak to you, where you're at in your life and business. And we take it very seriously, which is why integrity and transparency are so important to us.

In this week's show, we bring some real heartfelt content to you about where we are right now. Around 2 AM on Tuesday before the show goes live this week, Robby recorded a brief, high energy message about where we've been these past few months. 2017 kicked us in the knees a bit - to phrase it lightly. But, we're here, and we're grateful. 

Goal setting shows have always been special for us around here, and they've been a fun look in for y'all as well. I'm sure with Robby and David out this week, there will be more goal chatter in the episodes to come. But, for now, let's dive in on what I've got lined up for the year.art a capital fund, who else is there to call but Bob Repass. So, they've been running that operation since about 2012.

Endure The Monotony Of Success

For this year, I'm doubling down on my reading goal for last year. For those that don't remember, I decided that in 2016 I had read too many books. Which I know might sound crazy. However, that is how I felt about the consistent striving for more people have been driven to regarding reading books. I felt that I wasn't really giving myself to time digest and implement in a way that was really impacting my life.

Fast forward to this year and I couldn't have been more right. The experiment to read less but implement more worked extremely well in 2017. So, I thought why not take it one step further. Instead of 3 books, I'll only do one book. And since our Note Investing Academy Book Club book of the quarter is The One Thing, I'll make it that book.

In making that decision, I might've changed the path of my life forever. And I mean that in the best way possible. Take a listen to this week's show to find out what I mean.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Are You Committed To Endure The Monotony Of Success
  • How To Properly Write Your Goals
  • Why Setting Activity Based Goals Will Change Your Life
  • What One Book I'm Reading This Year
  • Upcoming Events & Real Estate Travel Plans
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jan 10 2018

45mins

Play

145: Buying $300 Million A Year In Notes & Note Expo 2017 Recap with Bob Repass

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Bob Repass is a 25-year veteran of the seller finance and note investing space.  Over his career, he has purchased over 40,000 performing and non-performing mortgage loans totaling over $2 billion in volume. He brings a tremendous amount of expertise to show, and we really enjoyed talking with him during the expo - and on today's show.

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Bob Repass

Bob Repass has had an impressive career. Even more impressive is how quickly he rattles off many of the highlights during the interview. Some of the highlights he mentions are starting with Associates Financial Services in 1997.

From there he mentions moving on the Bayview Financial, and that is where the fun starts. Bob casually mentions buying over $300 million a year in seller finance notes. I couldn't let me just walk past that - which I've been told says more about me often times. As an aside, I find it incredibly interesting when you're in a conversation with someone, especially when others are present, and someone drops some knowledge like that. Then everyone just smiles and nods like they know full well what that feels like.

It's ok to be in awe of something you haven't experienced. It doesn't make you seem like less of a business person to ask questions about things like this. That is my opinion at least. Rant over.

So, he moves on to buying a tremendous volume of deals over the course of 8 to 10 years. Then when Eddie Speed wants to start a capital fund, who else is there to call but Bob Repass. So, they've been running that operation since about 2012.

Past, Present, & Future

Framing up Note Expo 2017 was entirely focused on the past, present, and future of our industry and the market. The biggest takeaway was the shift many of the bigger players see market headed.

During the event, there were numerous panels and presentations about what different people were doing cradle to grave with their deals. Which lends itself to many different talking points. Obviously, if we start with the cradle piece of that analogy, we can get an idea of what kind of deal these people are primarily focused on, and where are they getting them. From there we can go through potential workout strategies on deals, all the way through to full disposition.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • What It Feels Like To Go Through Over $300 Million In Loan Acquisition
  • If You Don't Have A Seat At The Table, You're On The Menu
  • Interviewing A 25 Year Veteran In Note Investing
  • If You Have A Big Checkbook You Can Go Buy The Market
  • Upcoming Events & Real Estate Travel Plans
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Dec 13 2017

48mins

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144: Evolving As An Investor

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Evolving as an investor is the best way to keep yourself ahead of the competition. And though we've discussed on the show before that in the note investing space people can have a spirit of coop-etition, there is certainly still an element of competition in there. Which makes evolving as an investor an important endeavor.

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Evolving As An Investor

As we get closer to 2018 you know there is a goals episode on the horizon. However, there seems to be some more pressing issues at hand. During some recent conversation both online and off, it seems too few are paying attention to all the macro and micro issues within the note investing space.

Just to name a few, the recent rumblings at the CFPB and early numbers coming out about foreclosures/defaults headed into 2018, are two macro issues you need to keep an eye on. And that's just two! There are many more where that came from. There is a double edge sword thing happening here in the note space. Everyone wants to talk about how great it is to be the bank - which it is. Though, they fail to see how important all the data points from a macro economy perspective can affect their business... you know, just like a bank.

And on the micro side, we've been blowing the horn about proper business management, organization, and systems for the better part of 2017. We've gotten our fair share of emails about how we sound like a broken record from time to time. And that's fine, we'll continue to talk about because it matters. Running a tight ship, paying attention matters. Doing the right thing is always the right thing.

And lastly, like we mentioned many moons ago, it's ok to pivot from time to time. If you have a great wholesale opportunity come across your desk, do the deal. Got a good lookin' development deal? You might want to do more than just "consider" it. That's what evolving as an investor is all about. Remember Amazon started as just an online book seller. It's unlikely a bit of evolution will kill you, but not doing it, just might.

Note Investing Contracts

That header could've also read real estate contract, or just contracts. The number of times I've read through a contract and seen errors is bananas. One that we went through this week though was something else. This was a seller many listeners might know. This is a seller with a good reputation - or at least a decent one. It didn't matter though.

His contract was junk.

If you haven't been burned from not reading a through an entire contract, line by line, congratulations. It's one of those lessons that seems to catch everyone at least once. And I've seen too many bad ones in the space that I'm surprised we haven't covered it on the show before.

With all the sellers and potential buyers you plan to do business with, please... please read the contracts you're given thoroughly. The one we cover on this week's show had some unreal errors and was so totally lopsided in favor of the seller I'm surprised he's made it this far with it. And I know some people that have touted buying from this person. Which can only mean one of two things: he thought he could pull one over on us or he's been pulling one over on others. Either that, or he accidentally sent us a very old contract from 3 years ago... that he just had laying around... I guess.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • The Importance of Properly Reviewing Contracts
  • Why You Need To Be Evolving As An Investor
  • What We Did For Thanksgiving
  • A New House-Hacking Project
  • Upcoming Events & Real Estate Travel Plans
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Nov 29 2017

30mins

Play

143: Your First Note Investing Deal

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Your first note investing deal can be daunting as hell. Have you gotten yourself set up with all the right vendors? Have you fully research things like foreclosure timelines in the market you're investing in? How long did they say the service transfer was going to take? Wait, what's a service transfer? All of these - and admittedly many more - are important questions to review as you start note investing. During today's show David breaks down some items currently going on with his first note investing deal.

Your First Note Investing Deal

So, David can now finally answer the question, "What was your first note deal?" It's a 3 bedroom, 2 bath in Ottawa, Kansas. Right off the bat this is an interesting deal to look at because certain parameters. Most notably is the small population of just under 13k. Most of the time I like to see over 35k, but it might've been due to familiarity with the area or it was just a steal of a deal. It'll be something I'll follow up with on a future call for sure.

Another interesting twist early in the game on this asset is that the borrower is deceased. So, the first order of business - aside from getting the service transfer done and getting docs in order - is to TLO an possible next of kin. TLO is a service you can use in your business to obtain important information about your borrowers.

They've also dealt with some assignment of mortgage issues on the file thus far.

Note Investing In Equity Deals

This past week we had another swing and a miss on potentially buying a pool of loans. This time around the reason we couldn't purchase was due to huge equity deals in the pool. Originally we thought we'd be the ones nixing the deal due to being uncomfortable with the level of equity in the pool. However, it turned out that the seller just wanted too much for the deals.

One of the major reasons people recommend that avoid deals with equity, or at least substantial equity, is because the pricing on that loan is going to be higher. Also, you tend to encounter whole exit strategies being taken out of the equation.

So, the general rule of thumb is to avoid them in the beginning to avoid higher pricing and getting yourself hamstrung into an exit strategy you didn't want to take, or it being the only one you an take.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • A Major Bank Once Again Offering Zero Down Mortgages
  • Brief Note Expo Recap, More To Come
  • Note Investing In Equity Deals
  • Deficiency Judgements in Kentucky
  • Robby Has A Loan Mod Mediation, Can't Wait To Hear About It
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Nov 15 2017

49mins

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142: Boots On The Ground And Note Expo

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Boots on the ground is a phrase you're likely to hear quite a bit in the military and in real estate. And sometimes it hard to tell which group takes it more seriously. Boots on the ground is what we say in the real estate space when we're referring to having a solid group of referral partners in place in a particular area. 

Boots On The Ground

On a recent trip to Ohio I got the opportunity to establish some more boots on the ground contacts. Well, I tried at least. Before heading out we gathered some names of some local contacts to meet with during the time in Dayton. Some stood me up, others never got back with me. David mentioned on the show that they've had issues with flaky people in the area as well.

The reason for the trip was to handle some recording issues we had with the county. Apparently the phrase, "the right hand not talking to the left" was invented in Dayton - or more specifically, Montgomery County. The issues we've had trying to get a deed recorded remotely for the past several months has been absolutely comical. All of which came to a head when I had the pleasure of dealing with it in person.

During the trip I also drove assets from some bank and hedge fund contacts, and I took a look at some assets for a few fellow note investors. Once all that work was done, I took some time to drive multiple top zip codes in the Dayton area to get a better understanding on where we should be looking for deals. And so we can better communicate with those boots on the ground contacts we'll be working with - whenever they decide to call me back.

Note Expo, Selling Around You & Big Live Success

We've gotten a few emails about whether we're heading out to Note Expo, and the answer is yes. If you were on the fence, we'd love to see you come out to the event and say "Hi!"

Don't forget about Robby's life and business coach Michelle Humphrey. She has another Big Live Success event happening in November. This event is something you can attend to really get your mental game on point. We've heard feedback from a few different members of the community that have either gone to this event, or hired Michelle to coach them, that have blown past roadblocks and driven some serious success.

Lastly, on the week's show we talk about a seller, selling around us on a few deals. Many it was an opportunity to hear how other people handle this situation, and whether or not they've encountered it before, or regularly. 

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • The Importance of Boots On The Ground
  • We Are Headed Out To Note Expo
  • The New Book Robby And I Are Giving Away
  • Why You Should Eat At Red Lobster On Your Next Note Road Trip
  • Being Sold Around
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Nov 01 2017

58mins

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141: Buying an Entire Hedge Fund Tape

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Buying an entire hedge fund tape sounds really exciting - and maybe a little scary. Recently, with many of the pricing issue we're all seeing in the market, we've decided that buying an entire hedge fund tape seems to be the only way to get the deals and pricing we want. On today's show we talk about our recent at bat trying to do just that.

Buying an Entire Hedge Fund Tape

We've heard a decent bit of grumbling in the market about pricing - we've even talked about it on the show before. And if we're being honest, we've done some belly aching ourselves. However, belly aching isn't going to solve the problem. So we've been game planning and strategizing on what we can do about it.

Recently, the thought of buying an entire hedge fund tape is one of those ideas we landed on. Now buying an entire tape isn't something new. People have been buying entire hedge fund tapes since the 1980's. We even have some close contacts that have picked up entire tapes - or pools the size of an entire tape.

If you've been in the busy long enough its likely you've even bid on an asset or two and lost on those deals due to someone buying the entire thing.

We recognized a tape that might fit the bill. We did some initial high level due diligence, and things looked good. We knew bids would be due soon, and coming in with an offer on the entire tape was a stick we hadn't swung before. So, we decide we'd do a bit of formal due diligence on the tape to make sure we knew what we were getting into. After some time spent on that the tape was moving from good to great - there looked to be some real cherry deals.

The day before bids were due, we got some follow-up form some boots on the grounds, and took one more look at each asset, line by line, and things fell apart. And it was not for us trying, that's for sure. It was heartbreaking to find ourselves in another situation where we'd done a ton of due diligence only to not have a bid accepted - in this case because we weren't submitting one.

However, we carried forward some valuable lessons. We became increasingly more comfortable with the idea of buying an entire hedge fund tape. We locked down some "must have factors" for an entire tape purchase to make sense. And a few other items. It's a numbers game, and we'll keep stepping up to bat.

Note Expo, Big Live Success & Ohio

We've gotten a few emails about whether we're heading out to Note Expo, and the answer is yes. If you were on the fence, we'd love to see you come out to the event and say "Hi!"

Speaking of event, Robby's life and business coach Michelle Humphrey, has another Big Live Success event happening in November. This event is something you can attend to really get your mental game on point. We've heard feedback from a few different members of the community that have either gone to this event, or hired Michelle to coach them, that have blown past roadblocks and driven some serious success.

I'll be out in Ohio this weekend. So, if you live around those parts and want to meet, or if you have an asset or two you want me to take a look at, send me an email, and I'll see what I can do.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • The Event Coming Up With Robby's Coach Michelle
  • We Are Headed Out To Note Expo
  • Buying an Entire Hedge Fund Tape
  • And much more!
Featured on the Show: Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Oct 18 2017

37mins

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140: Delinquent Tax Proof of Payment Strategy

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Delinquent tax proof of payment strategy was a hot topic over on our Facebook page. Robert wracked his brain for a strategy and system to improve the way we handle providing proof of payment on delinquent taxes. And it would appear as though we've made some headway. 

Deal Closings and Course Launching

It's been a ruckus past few weeks for the Note MBA team. We've had several closing, some of them from note deals - including a bit of wholetailing - a lot deal, and David closed on his flip. We take some time diving into the numbers and strategy of David's flip.

One of the key takeaways is that David did all the work himself. He even admits in the show that this probably wasn't the best strategy. After doing a little happy dance, he talks about how he picked it up as a HUD home. In the beginning he was living in the home while renovating, using a house hacking strategy. 

He bought the home for $180k, after $20-25k in repairs, he was able to sell it for $283,000. So, first off, solid freaking deal. This obviously doesn't include his time costs. However, it gave him an amazing education in what it takes to do a quality rehab job. Going forward he'll be able to take that knowledge into numerous future deals.

Today is also the launch of The Note Investing Academy. This is, without a doubt, going to be the premier course for note investing education. We've been planning it for months, working with the input of numerous other investors - including two additional "instructors" for the course.

The course itself currently includes over 60 video modules that cover everything we could think of, and have encountered in the business. And that word currently is important. We know that things changes, and that there is always something for to expound upon. So, one big aspect of the course is community feedback. We're committed to listening to feedback from everyone that takes the course.

We will continue to add to the course, and improve upon it as time goes on.  We're very excited about the the launch, and if you pick it up in the first 5 days you'll get $500 off.

Delinquent tax proof of payment strategy

It all started when Robby needed to get proof of payment over the FCI, so that he could add as a corporate advanced expense delinquent tax payments. It was like banging your head against a wall to get the proof over to FCI. Enter into the picture the delinquent tax proof of payment strategy.

With the payment slip, proof showing on the county website FCI still wouldn't move on it. So, Robby thought of a genius strategy to overcome this issue. He sent a handwritten note, a self addressed & stamped envelope, and a forever stamp to the county. And wouldn't you know it, it worked.

To see how we've moved to systematize this take a listen to this week's episode, right around the 21 minute mark.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Closing Deals All Over The State Of Florida
  • A New Note Investing Education Course Debuts
  • An Interesting Facebook Content Strategy
  • Delinquent Tax Proof of Payment Strategy
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Oct 04 2017

41mins

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139: Wholetailing Might Be Something Your Note Investing Business Needs

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Wholetailing might be a phrase you're unfamiliar with - heck, you might think I spelled wholesaling wrong. And though wholetailing and wholesaling might sound similar they are very different strategies. Deciding to wholetail a deal might end up saving you some serious time and money. Let's get into it.

Wholetailing & Note Investing

The best definition for a note deal worth wholetailing is an asset that isn't busted up enough to wholesale, but isn't nice enough - or rehabbed enough - for a retail sale. When it comes to NPNs it's likely that many of the homes, even owner occupied homes, will have a decent amount of deferred maintenance issues, or outright problems.

Some of these issues are worth getting fixed, some might even be worth doing a full rehab on - there's no question about that. We've talked extensively on the show about deals we've done full rehabs on. Recently, we've also been discussing some of the major issues that can arise from rehabbing from afar.

A solution like wholetailing brings new light to a deal that might look like a time and money pit. These are the classic handyman specials you see advertised. And though wholetailing a deal will almost always bring in less money, it's worth evaluating exactly what you're missing out on. One area many people forget to appropriately allocate resources towards is holding cost - and for that matter speed. Often times just exiting a deal a few months earlier than you would've otherwise can turn the tide on what is quickly becoming a tough ROI situation.

Hardwiring Happiness

"By taking just a few extra seconds to stay with a positive experience—even the comfort in a single breath—you’ll help turn a passing mental state into lasting neural structure." This is a direct quote from the book Hardwiring Happiness. During the Distressed Mortgage Expo this past weekend I had the opportunity to meet a fantastic listener, Steve. 

When we had time to chat Steve didn't want to talk real estate. He didn't want to talk note investing. He wanted to talk about our show with Dr. Dan Wurzelmann. It was our episode on how to handle overwhelm in real estate. More specifically it was our episode on mindfulness, meditation and mental health. There aren't too many real estate groups, YouTube channels, or podcasts willing to broach a topic like that, but we did. And Steve wanted to commend us for it. 

However, more to the point, he wanted to talk to me personally. "You breathe from your mouth when you begin to struggle, don't you?" "Don't take even a second to accept gratitude in, do you?" The questions came fast, and they were as gentle as they were sharp. He cut right through me.

Listen to this week's episode to hear how the full conversation went.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Wholetailing In The Note Investing Space
  • Why And How Wholetailing Could Save One Of Your Deals
  • What Chase Thought Of The Distressed Mortgage Expo
  • One Of The Most Interesting Conversations We've Ever Had At A Conference
  • A Great New Book Recommendation
  • And much more!
Featured on the Show: Listening Options:

Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Sep 20 2017

41mins

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138: Note Investing Insurance

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Note investing insurance can present some murky waters for a new - and experienced - investor to wade through. That's why we're talking with one of our favorite insurance service providers on this week's show. We've also had a ton of requests for this topic with all the hurricanes, storms and natural disaster happening in many states that we all invest in.

Note Investing Insurance

Mel Babtkis from Ross Diversified, joins us on today's show to talk all about the note investing insurance you need for your business. One of the major reasons I like the guys over at RDIS, is because they are note investors too. They understand the issue we encounter in the business, and helps us get the right coverage for numerous different scenarios. 

Some of the items Mel touches base on are force placed insurance, CFPB compliance, how to make sure you're protected on an asset by playing FBI agent, and so much more. On the topic of force placed insurance, he covers all the CFPB lets for staying in compliance. This has led to an interesting conversation in our office. We've been talking about the systems we have in place to make sure those letters go out, not only in a timely fashion, but at all.

We've, since the recording, had a conversation with the guys over at RDIS - specifically Mel's brother Ed - and they said they'd be willing to give us the boiler plate letters to send out to the borrowers; as well as, giving us the exact timelines for when those letters need to go out. We'll be including those letters in the doc section of our upcoming training.

How Much Insurance Do I Need

Another main competent to understand regarding your insurance coverage is, how much do I need? This was a question it took me a few deals to get right, and Mel gives a solid breakdown during the show.

Insurance is always tied to the value of the structure. When it comes to insurance a 1,000 square foot home, at $10 a square foot. So, you've got an asset with a value of $100,000. Let's say the note is going to cost you $50,000 to acquire. So, how much can you insure? The $100,000 value of the home or your $50,000 stake in the home?

Well, the answer is both! You can invest up to $100,000 because that is what the home is worth. However, you might be in a position where you don't want the increased premiums, and you're only interested in insuring your interest in the property at $50,000. Both are options you have when choosing how to insure the asset.

Mel goes on into more detail around minute 16 of the show! Definitely spend some time understanding this aspect of the business.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • How Much Insurance Do I Need On This Asset
  • How To Stay CFPB Compliant With Regards To Insuring Your Assets
  • What To Do And What You Can Do If You Have Assets In Places Like Florida With 'Named' Storms
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Sep 06 2017

46mins

Play

137: On The Horizon

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Aug 25 2017

11mins

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136: Building An ROI Calculator

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Building an ROI calculator is something every note investor should do. Last week Robby gave David some tough love for not having one done yet - among many other things. So, this week we discuss the process David is going through to build one, and some of the challenges he's encountering.

HUD Home Flip

David recently finished his flip. He put it up on the market just a few days ago in fact. This was one of the items on his list that Robby was asking him about during last week's tough love session. Here are some shots of the flip, in case you wanted to check it out.

I completely forgot to commend David during the show, so I'll take some time and do it here. He didn't know Robby was going to bring up all the items he did last week. I'm sure he was as surprised as I was. However, this didn't lead David to shy away and lick his wounds. He dug in, and went to work. Not only did he get everything done for the flip, he was also up until 3 am working on his ROI calculator.

As David continues to grow his real estate business, specifically into notes, I'm stoked that he's coachable and willing to take action!

Building An ROI Calculator

Robby asked David last week, "You've mentioned needing an ROI calculator before, and that you were working on one. Are you building an ROI calculator?" David said no, he hadn't built one yet. For his part, he didn't give many excuses about it, and said he would get on it. So, over the past few days he's been building an ROI calculator.

David sent his new minted ROI calculator over to me. And, if I'm being honest, it's rough. However, I expected that. Mine was rough for a super long time. The design David has put together is rather interesting. It makes his calculator resemble a tape, which I find interesting.

We cover some of the items you'll want include when building an ROI calculator. The first item you'll need is the UPB, the unpaid principle balance. If you're investing in non performing notes, this should be a given. From there, you'll want to include some valuation metric. Whether this is exclusively valuations from places like Trulia and Zillow, or straight from a realtor, you'll need to have a field for value.

After that, you'll need a field for your bid price. Now, that might now be what you actually get the note for, but you'll want to have that so you can get as accurate a picture you can of the ROI expectations. We discuss more of the items you'll need when building an ROI calculator in the show.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • David Has Finally Starting Building An ROI Calculator
  • We've Got A HUD Home Flip On The Market
  • What You Should Include In Your ROI Calculator
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Aug 16 2017

31mins

Play

135: Do You Have An Accountability Partner

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Do you have an accountability partner? I'll be asking you this question again. This is one of the areas I think too few people focus on. After much real estate talk, Robby as a tough love session with David about some of the things happening in his business. We've had these back and forth sessions before, but this is David's first one. We want to see him win with his business. So, we breakdown some accountability for him.

The Road Show Never Stops

Thanks to the wonders of the internet the note investing road show never has to stop. We'll be uploading some great videos Robby shot while he was traversing the country. We'll be releasing those videos later this week and early next week.

They are fantastic examples of the simple marketing style videos you can make for your real estate investing business. He's not hard selling in any of them for people to send him capital. He's not holding some check, while he's headed to the bank. He's in front of real assets, we actually own, talking about the portfolio.

And it doesn't matter how great your Photoshop or Canva skills are. When it comes to creating marketing pieces for your business, nothing is better than a case study. However, there is one exception, actually standing out in front of the damn house. It's why we're talked so much about the importance of visiting your assets whenever possible.

Do You Have An Accountability Partner

Sometimes the universe just places situations in front of you. If you're a Note MBA Insider, if you get our Monday emails. this past Monday you received a message of self awareness and accountability. One of the primary reasons for my recent move was to address this issue in my own business. Without any prompting Robby took an opportunity to get after David on where he's been slacking.

Depending on how comfortable you are with confrontation the segment could be tough. However, you've known us long enough, and you've seen Robby and I go after each other enough, to know we do it with the right attitude. We want to see David succeed. We want to see him build the business he claims to want to build.

And doing things like that can require outside help. So, do you have an accountability partner? It might be that missing link to achieving what you're after in your life and business.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • An Update on The Atlanta Fire Property
  • Follow-up From Last Week's Mid-Year Goals & Routine Episode
  • We Almost Had Another Borrower Call In
  • Robby Gives David Some Tough Love Accountability Feedback
  • We've Got Road Trip Videos Headed Your Way
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Aug 09 2017

44mins

Play

134: Mid-Year Goals and Routines

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Mid-year goals and routines have been top of mind for us these past few weeks. Mid-year goals for obvious reasons, we've done a mid-year goal review show every year since 2015. However, the topic of routines, though something we've definitely covered before, isn't something we've talked about like this before.

Mid-Year Goals and Routines

Today's show format is a bit different. We wanted to have all three of us on to talk about this topic, but it just couldn't happen. So, we've got Robby kicking us off with his thoughts on where he's at for his mid-year goals and routines. And, if I'm being honest, when he sent over the audio, it wasn't what I was expecting.

This year has seemed like a runaway train for me. Though I've accomplished a many of my goals, some of the important ones have been incredibly elusive. It wasn't until I listened to Robby's take on his year that it hit me as to why everything has seemed so haphazard.

Because it has been haphazard!

He brought me some wonderful insight into where he's been with his lack of routine. And our unwittingly mirrored situation was refreshing to hear. Not in an entirely misery love company kind of way, but it's helpful to know that other people have similar struggles as you. And it can be empowering to hear about their situation, and how they are getting on with improvement. 

Your Life in Weeks

An article written a few years ago has stuck with me in a way many books haven't even managed. It's called Your Life in Weeks, and I talked about the chart presented in this article in the show.

Basically, if you made a grid of 52 circles by 90 circles you'd have a 90 year life represented as simplistically as possible. It's an interested graph to look at, however, it becomes very unnerving - very quickly.

You look up and down at the axes and find where you sit on the chart - and you marvel. You're all at once taken with all the time that has passed, and all the time that's left. Depending how old you are all in the context of that last sentence is going to be very different.

Here's an example of that chart, but I'd recemmond you still take time to go check out the article:

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

 

Listen & Watch this Week’s Show to Learn:
  • Where We're At With Mid-Year Goals
  • How Things Can Easily Go Off The Rails Without Routine
  • Your Life In Weeks
  • One of Chase's Favorite Blogs To Read On Line
  • Is There A Survivorship Bias With Written Goals
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Aug 04 2017

47mins

Play

133: Supreme Court Adopts New Bankruptcy Rules

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Supreme court adopts new bankruptcy rules that could affect our entire industry.. or not. No, they probably will. Though it can be hard sometimes to parse out all the doom and gloom messaging from many different news outlets. Bankruptcy itself isn't going away, so that isn't the major change. What we've been served with, however, is a new set of rules to play by. We talk about some of them in this week's show.

Supreme Court Adopts New Bankruptcy Rules

Finally, after several years of debate, major changes have been approved that will have a profound impact on consumer bankruptcy cases.  On April 27, 2017, the Supreme Court of the United States, through Chief Justice John Roberts, submitted to Congress amendments to the Federal Rules of Bankruptcy Procedure which set forth extensive changes dealing with forms and filing of claims.  The proposed changes will take effect December 1, 2017 and will significantly change how creditors should approach consumer bankruptcy cases (Chapter's 7, 12 and 13) and will require crucial adjustments to conform to the shortened timelines for creditors to take action, particularly in Chapter 13 cases.  

The most noteworthy changes are as follows:

Rule 2002: Notice to Creditors

The amendments to this Rule now require that creditors are to be provided at least 21 days' notice of the time fixed for filing an objection to confirmation of a Chapter 13 plan and be provided at least 28 days' notice of the confirmation hearing in a Chapter 13 case.  Neither of these notice provisions existed prior to the proposed rule change and each provides creditors with advance notice for the date of the scheduled confirmation hearing and the deadline for filing an objection.

Rule 3002: Filing of Proof of Claim

The amendments to this Rule may have the biggest impact on creditors largely due to the shortened deadlines for filing claims and the requirement that all creditors—including secured creditors—must file proofs of claim within 70 days of the filing date of a Chapter 7, 12 or 13 case or within 70 days of the date of conversion to a Chapter 12 or 13 for the claim to be deemed allowed.  The new Rule does add a provision that allows a creditor the opportunity for an extension of time of up to 60 days to file a proof of claim upon motion and order if the creditor can establish that it did not have a reasonable time to file a proof of claim because the debtor failed to timely file the list of creditors and addresses or because the notice was mailed to the creditor at a foreign address. The Rule does clarify that a lien that secured a claim is not void should the creditor fail to file a proof of claim.

There are a lot more notable changes, you can see a few more here.

Shrinking, Aging Skilled Labor Force

This is easily one of the best articles I've read on Bigger Pockets in the past year - if not ever. It's a well researched piece about the aging skilled labor force in America. Those blue collar jobs many young people no longer care to do.

The author begins the article with a great story about start from the bottom - insert Drake joke here. And weaves that into a statistic laden romp through our future. A future rife with higher prices on everything from homes to consumer goods. All because no one wants to do the hard blue collar work anymore.

And truthfully, I'm not entirely sure no one wants to do it. Personally, I think we just haven't communicated all the benefits of these jobs to would-be job holders. I'd love to hear your feedback on this topic, and the entire show in general.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Note Investing Due Diligence
  • Where To Go To Check On Foreclosure Status, Other Than The Attorney
  • Trust, But Verify
  • Techniques To Manage Shitty Days or Weeks
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jul 26 2017

46mins

Play

132: Note Investing Due Diligence And Crappy Weeks

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Note investing due diligence has been a huge focus for us recently. With the addition of David to the team, it's been important for us to get him on top of his due diligence game. This is where you have the chance to make or break the profitability of your business. It ins't a cliched saying for no reason, "you make your money on the buy, no the sell."

Due Diligence Pro Updates

For those fantastic listeners that use Due Diligence Pro there has been some updates to the app. If you use the software on Chrome, it'll update automatically. If you're a Safari user, you'll need to log back into the website and get the updated app.

We received an email from a user of the app, and he mentioned wanting to see Wikipedia added to the list of sites used in the app. I've never thought to use Wikipedia for due diligence. So, I went a few days using it as I reviewed some assets this past week. The best I could figure was two different uses for Wikipedia.

One would be for demographic data, and the second would be for isolating potential up and coming markets. For demographic data I use http://usa.com.

Either way, this needs to be one of the next additions to Due Diligence Pro.

Note Investing Due Diligence

We continue this discussion of due diligence by reviewing some specific note investing due diligence items. We've been analyzing our portfolio to see if there is any deals we can move.

One of those deals is currently going through foreclosure, and we needed an update on the taxes. So, I tasked David with going about getting an update on the foreclosure situation. To do this he needed to go through the clerk of courts to get the records of what has happened with the proceedings.

After getting that information, we need to verify the details on the taxes. Using DD Pro we pulled the tax data that the county was reporting online. However, one of the ethos of the show is trust but verify. With that in mind, we called the the county to verify the taxes.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Note Investing Due Diligence
  • Where To Go To Check On Foreclosure Status, Other Than The Attorney
  • Trust, But Verify
  • Techniques To Manage Shitty Days or Weeks
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jul 19 2017

42mins

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131: Note Investing Road Trips

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Note investing road trips can be a vital component to a thriving investing business. Or at least that's what the travel loving Robert Woods and David Glinkski keep telling me. While we took off the week last week for the July 4th holiday. Woods and Glinski were traversing the Midwest in search of real estate deals.

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Note Investing Road Trips

Over the July 4th holiday Robby and David did a 6 state note investing road trip. They drove through Florida, Georgia, Kentucky, Tennessee, Indiana and Ohio. This road trip took them by numerous assets that we own, or have acquired with JV investors. And assets that are on active tapes.

Only one home on this particular trip was rough, and according to David many of the assets they saw were worth taking a look at as investments.

As far as David is concerned every investor needs to make road tripping part of their business. Getting out and really putting your eyes on some assets can help you recognize some home run areas around the country. And if you're picking just a few markets or pockets to invest in, it makes total sense to familiarize yourself with many of these areas.

In fact, they made right party contact with one of the home owners on a deal Robby invested in. And she's ready to start making payments, and is glad to have someone to talk to on the other side.

Orlando Note Meetup

We've got a Note MBA Meetup group in Orlando. If you're in the Orlando area and want to connect with other note investors, check it out.

David had a meet up with this group a few days ago, and aside from the general success of the event, many people posed some great questions. The first topic David mentioned that was covered was pricing. This is something we've covered on the show before, but it bares repeating.

We have the ability to control market forces with our dollar, no question. However, if every seller from here to Seattle wants to move their NPN assets for 58 cents on the dollar, your 50 cent on the dollar model isn't going to work. It might eventually get back down to that level, but until then you're going to either need to adjust your model, or figure something else out. Just because you think the asset prices are too doesn't matter. What matters is your ability to adapt to the changing market environment.

We also cover questions about being licensed in Georgia, and how to talk to real estate agents regarding potentially rougher parts of town.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • The Orlando Note MBA Meetup
  • Is A License Required in GA
  • Are Assets Currently Priced Too High
  • Why You Need To Consider Note Investing Road Trips
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jul 12 2017

47mins

Play

130: Reviewing Your First Note Investing Deals

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Reviewing your first note investing deals can be a daunting task. You finally get a tape in, you load up Due Diligence Pro, and you get down to business. Before you know it, you've isolated a few potential deals, then what?

If you're like some of the folks that send us emails, or our very own David Glinkski, you might have to overcome that moment of fear. Is my team in this market set up? Do I believe the BPO? Can I trust my ROI calculator? Let talk about it in this week's show.

Road Trip Robby

After spending some extensive time out of the country, traveling, working on a movie out in California and many other things. Robby is finally ready to get back to doing his thing in the real estate space.

First off, similar to Fannie Mae selling off a large tranche of deals, we are looking to do the same. These are NPLs that no longer fit into the portfolio we're trying to maintain. If Ohio is a market you've been looking at investing in, or if you're already investing there drop us a line at ask@notemba.com. We'll be looking to offload these deals soon.

As part of this offloading Robby is planning another road trip. We'll be working to bring you some videos and content from Robby out on the road. One of the things that's bringing all this on is a transition towards some higher value notes and development deals.

Fear not is you're still in that lower brand price bracket! Between Chase and David, there will plenty of deal talk in that price range.

Reviewing Your First Note Investing Deals

David spent some time these past few weeks to review a tape. This was his first attempt at doing this on his own. We wanted to be as hands off as possible, however, when he had a question we took the time to answer it.

One of the issues he had to get straight first was his own strike price. The strike price on an asset usually refers to the lowest price a seller is willing to take as a bid. Well, I advised David to come up with his own strike price. What is the lowest ROI he's willing to take a swing at?

From there he was concerned about whether he'd be able to manage an asset outside his comfort zone. Robby mentions a crucial beginner technique of selecting your top 5 markets you want to invest in. This will help you narrow down where to invest, build your team, etc.

David didn't make any bids this go around, but I'm confident he'll pull the trigger soon.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • Robby Is Headed Out For A Road Trip Through Ohio
  • Why David Didn't Pull The Trigger On His First Note Deal
  • How We're Planning to Improve Due Diligence Pro
  • What Are Your Top 5 Markets
  • The Numbers On Our First CFD Deal
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jun 28 2017

40mins

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129: When to Start Looking for JV Investors

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When to start looking for JV investors? It's a question that has come up regularly in the Note MBA inbox. So, we decide to tackle this topic on today's show. We also cover Nevada as a super lien state, using your reserves to invest in deals, we take our first call-in question, and more. It's a freaking jam packed episode!

If you dug the call-in segment let us know. We can potentially work out a better system for taking the calls, and bring more of that kind of content to the show. We absolutely loved it. And an future call-in would need to work on matching Iris' energy - which is gonna be no small feat.

When To Start Looking For JV Investors

There are numerous angles that need to be addressed when you ask this question. One of the first hurdle for many people is fear. When to start looking for JV investors, often time comes down to a person's fear about losing money. And don't kind yourself, as we discussed in last week's show, fear can be an important response to stimuli.

However, fear can also be unnecessarily debilitating. Once you've run the numbers, and you're as sure as you can possibly be expected to be that they are accurate, then it's time to move forward.

If you have no desire to expand your business past your personal wealth, or family money, then this might not be something that will ever come up for you. However, it's worth noting that for people like Warren Buffett almost their entire wealth has been derived from using outside capital.

Only you'll know when it's time, but I'd say error on the side of sooner rather than later. And make sure that the first deal is one that has a ton of room. And be ready to make mistakes.

Super Lien & Deficiency Judgements

One of the best parts about doing this show is getting to talk with a wide variety of investors from all over the country. Mostly those conversations happen over email or on Facebook - until we make it out to an event and meet everyone face to face. Today we decided to change that up a bit, and we took our first call-in question from an investor.

Now, if you want to get technical this was a call-out, but let's not argue over semantics. Either way, it was an awesome opportunity to talk with an investor that wanted some guidance on an issue out in Nevada. She wanted some clarification on our exepeirnce with deficiency judgments and super lien states.

One interesting part about this deal we discussed was the fact that not long ago we discussed some talk of Nevada no longer being a super lien state. So, we'll need to have an attorney from NV on the show to fully clarify, however, it might no matter on this particular deal because there might be some grandfather. That's a big maybe though.

All of this is because, as the investor notes, all the super lien, HOA foreclosure hoopla has become more and more convoluted as time has passed.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.

Listen & Watch this Week’s Show to Learn:
  • When to start looking for JV investors
  • Why It's Important Not To Use ALL Your Money For Investments
  • What's Your Number
  • What's A Super Lien State And Why It Matters
  • Can An HOA Foreclose On Your Deal
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby

Jun 21 2017

52mins

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