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Note MBA

Updated 11 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
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.

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.
Cover image of Note MBA

Note MBA

Latest release on Mar 07, 2018

The Best Episodes Ranked Using User Listens

Updated by OwlTail 11 days ago

Rank #1: 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

Rank #2: 003: Note Inception and Post Foreclosure Eviction

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Follow along as we briefly touch on three simultaneous timelines occurring on a Florida note Robby is working: 1) Evicting a former tenant via an unlawful detainer due to adverse possession 2) Purchasing title from an HOA post foreclosure 3) Dealing with a 2nd lien filed 1st in time. When you’re having trouble making contact with an occupant, try using a vacancy sticker to get the occupant to reach out to you.  This is a technique Robby implemented by having another member of his Tribe post on the property for him.  Realize that when you’re new to the note business all these “issues” are part of the 10,000 hours you need to put in to become an expert at something, and that when these “issues” cost you money you need to chalk it up as “Life Tuition.”  Changing how you evaluate note purchases as you see more scenarios and realizing there is an abundance of inventory in the marketplace and to be as conservative as you need to be.

We slightly digress around 18:45 regarding Fiverr.com, but keep listening; there is a hidden message about valuing your time, not to mention that Fiverr.com is a great resource for your business.  Check out www.NoteHustle.com if you need help with your website, email marketing, blogging, etc.  Chase is a master at online marketing and is offering up his specialized talent to note investors that take action in their business.  Lastly, Robby has a potential new JV investor, but he needs to set realistic expectations as this investor has been doing his own research and knows just enough about note investing to get in trouble.  More on how this potential JV investor turns into an actual investor in episode 5. If you have any questions, comments, or a rich uncle, be sure to send us a message at: ask@notemba.com

-Post Foreclosure Eviction, It is going to happen sooner or later

            -A case study for you to check out

-Don’t do what the shady attorney suggested

-Using a Vacancy Sticker to make contact

-Using a case study to align expectations and provide a proof of concept

-Changing how you evaluate a note purchase upfront, the algorithm isn’t static

-Putting in your 10,000 hours and the investment in “Life Tuition”

-Using www.Fiverr.com as a resource for your business

-Placing a value on your time, and the time of others

-Introduction to the Note Hustle webinar, marketing within the note business

Dec 24 2014

34mins

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Rank #3: 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!
Featured on the Show: Listening Options:

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

Cheers,

Chase & Robby

Jun 28 2017

40mins

Play

Rank #4: 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

Play

Rank #5: 004: Marc Gold of American Home Recovery Fund, NoteWerx, and The Shadow Inventory

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Chase interviews Marc Gold of AHRF (American Home Recovery Fund), NoteWerx and The Shadow Inventory Roadshow during Noteworthy 2014 in Las Vegas, NV.

The reason why the note industry needs as much transparency as you can get: “99.9% of the population has no idea that this trillion dollar business exists” Marc Gold.  Ahead for 2015 it is estimated that between 5-8 million loans are still on bank ledgers that will be unloaded, the prices are ticking up making discounts lower for investors across the board.  Marc recommends when you enter into the note business, come with an open mind, and get an education, don’t try to do this on your own, get some help as you enter the business.  Find Marc at: www.note.guruIf you have any questions, comments, or a rich uncle, be sure to send us a message at: ask@notemba.com

-AHRF: American Home Recovery Fund, www.ahrfund.com

-NoteWerx, www.notewerx.com

-Shadow Inventory Roadshow, www.shadowinventoryroadshow.com

Dec 31 2014

42mins

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Rank #6: 118: Your Note Investing Strategy

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Your note investing strategy is going to take many different forms. Some of the key factors that will inform your strategy are current and past relationships, individual skills, prior real estate experience, etc. Let's dive in on how David is planning to start growing his note investing business.

One of the biggest things we'll be interested to see how David attacks note investing is DistressedPro. We recently had Brecht on the show, and we've been wanting to work the software into our business. We're really going to start digging into what is available for new avenues for inventory. We also cover a quitclaim deed issue in Ohio, requesting a tax payoff in Cook county, and more.

Your Note Investing Strategy

Right off the top David mentions needing to get an LLC lined up. Though he already has one for a separate real estate venture, so he knows that isn't completely necessary yet. Also, he'll be working through Robby's LLC, and working through some deals that we already have under management.

This isn't an option for everyone, obviously. However, it doesn't change that everyone is going to bring different strengths and opportunities to the business that is unique to them. It's important when you're getting started to take a step back, and take stock of your those possible strengths.

From there, David knows that the next step to operating a successful note business is understanding the due diligence process. That will be the next major portion of the business David will shift his focus. Then it's using DistressedPro and other resources for finding deal sources. And finally, working to refine his systems to get his business rolling in the direction to achieve the lifestyle he's after.

Quitclaim Deeds In Ohio

Last week, while traveling to look at assets in Baltimore, Robby got a call from his attorney regarding a foreclosure case that was supposed to happen on Friday. This call came days before a pending auction, which we all know isn't good news - it's almost always a bankruptcy. This was a unique case though.

In this case the borrower, that was an LLC, decided to quitclaim the property to a third-party. This third-party then proceeded to go filed a Chapter 7 bankruptcy. The most interesting part of all of this, aside from the obvious, is that this is all above board. Its completely legal.

We'll be keeping you in the loop on this deal. It's certainly one of the more unique deals we've worked on, and of course it came up in Ohio, a state that offers a ton of opportunity for note investors.

Next up is a tax payoff opportunity in Chicago, how we're planning on growing the show, and more.

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 Tax Payoff And Redemption In Cook County
  • Ohio Foreclosure Case With A Unique Angle
  • How A Borrower Can Extend A Foreclosure With A Quitclaim Deed... Legally
  • Your Note Investing Strategy, And More Specifically David's Strategy
  • Our Plans For Improving And Growing The Show
  • 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

Apr 05 2017

44mins

Play

Rank #7: 125: Buying Multiple 2nd Lien Notes, Instead of One 1st Lien Note

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Buying multiple 2nd lien notes, instead of one 1st lien note - for the same amount of money - was one of the primary topics on this week's show. As we continue our march towards June, May the month of 2nds rolls on. This week we have a delightful conversation with Cathie Jeffs.

Cathie has been a full time investor in the second lien space since 2011. Like myself, and many others, she got her start in the space after being downsized.   She made a brief pitstop with the fix and flip crowd, but it didn't take her long to find the note people.

Buying Multiple 2nd Lien Notes

Buying multiple 2nd lien notes is something most people in the seconds space hang their hat on. Fuquan Bilal has mentioned it before on the show, and so has Dave Van Horn and Gabe Kass. There are a few different reasons why this is an important part to the second lien strategy. When buying multiple 2nd lien notes you get to mitigate some of the inherent risk in 2nd liens.

The typical example someone will shoot off is: when you buy 10 second lien non-performing notes, you know 3 will be trash right from the jump. 3 to 4 will be the bulk of your profit, then you'll have a few stragglers that'll do ok.

This isn't a strategy that's particularly easy to implement with 1st liens. The biggest issue is that it's usually cost prohibitive. Many have noted on the show that times have changed a bit, but typically you can buy 2 to 5 times more 2nds for the same money you'd buy one first. This risk mitigation and lower price point for deals are the two biggest selling points for are investors getting into the space.

Are 2nds Drying Up & WIN

One of the topics that has come up repeatedly during this month long odyssey, into the belly of the beast that 2nds, has been inventory. For the most part everyone on the show has rebuffed that claim. However, I will say that the sheer fact that everyone talks about it is interesting. A kind of, if there is smoke scenario.

Cathie gave an answer most would expect. Inventory is fine. And she backed it up. However, many 2nds investors will bring up how expensive 1sts have gotten. And many 1st lien investors will combat that with their own take on the industry and market. Though, it brings up images of smoke and fire again. Either 2nds do have a slight inventory issue and 1sts are getting priced too high. Or everyone is just talking out of turn.

I say again, where there is smoke.

Lastly, Cathie brought up her meet-up and note investing community WIN, Women In Notes. If you want details on making it out to a live event or one of their webinar broadcasts, you'll have to listen to 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:

  • The Type Of Note Investing David Is Finding Most Interesting
  • Do You Have To Give Your Loans Up To A Servicer
  • How To Properly Shelve A Loan
  • The Specific Target Some Of The Most Successful 2nd Lien Investors Focus On
  • Is The Seconds Market Drying 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

May 24 2017

54mins

Play

Rank #8: 036: How Much Money Do You Need To Start Note Investing

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This week Chase and Robby get after a few listener questions and read some e-mails that came in over the past week.

Topics Highlights include:

-FCI’s Note Exchange

-How much $$$ do I need to get started?

-What if I haven’t done any deals?

-Robby talks a bit about note wholesaling

-A new FL Statute protecting tenants following a foreclosure

So, let's get to a few questions we answer in today's show.

Love the show!  Haven’t listened to all of the podcasts so if you have answered this before, I apologize.  What do you guys think about FCI Exchange for purchasing notes?  I’m new, have gone through Scott Carson’s Notes For Dummies class in Dallas, but haven’t pulled the trigger on a note yet.

I keep running into investors that say “once you have a couple notes under your belt, give me a call.”  If I get a response at all.  It’s pretty frustrating but I’m not giving up. - Eric

I really enjoy the show. Thanks for taking the time to put it together and help everyone out. In my opinion there are not enough resources out there for learning about this investment class.

Anyway, I liked the episode on self-directed IRAs. And it got me thinking about finally taking the plunge into note investing. With that said what minimum amount of cash would you recommend to have available to start investing? Basically, how much should I transfer into the SDIRA including necessary reserves? - Matt

If you have any questions you’d like us to address on our next Mailbag Episode.

You can always send you questions to ask@notemba.com.

Listen to this week’s show and learn:
  • What If I Haven't Done A Deal
  • Note Wholesaling
  • How Much Money Do You Need To Start
  • Is FCI Note Exchange A Good Place To Buy Notes
  • A New Florida Statute
 Listening Options:

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

Cheers,

Chase & Robby

Aug 12 2015

22mins

Play

Rank #9: 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!
Featured on the Show: Listening Options:

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

Cheers,

Chase & Robby

Jul 19 2017

42mins

Play

Rank #10: 100: The First Principles of Note Investing & Life

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This week we break down the first principles of note investing, life, and business. All viewed through the scope of our first 100 episode of the Note MBA podcast. We realized there have been some interesting trends and motifs that have emerged throughout the first 100 episodes.

So, today we discuss those principles, as well as a few of our favorite moments.

We kick off this week's Best of Note MBA-esque show with Episode 7: We're Not Gurus. This was a seminal episode for us, where we put a line in the sand about what the show would and wouldn't be. During this show we also talked about how we breakdown a note tape.

Episode 8: Joel Markovitz, VP of Business Development, is the next show up for discussion. An interview with a servicer can usually be a daunting task. However, time with Joel Markovitz is always pleasant. This was also the episode we announced we were on the home page of iTunes. This is something that we could not have accomplished without our growing community.

After this, Robby took some time to talk about NoteLinQ. We launched the service on the show during Episode 18: NoteLinQIt's no longer available, however, it pointed out some of the systemic issues within the industry. The fact that it is no longer available highlights a few key things, a lack of operational execution and lack of capital. Robby parlayed the experience into a further understand of choosing the right things to go after in business and life.

We continue review some of our favorite shows and guests that have graciously appeared on the show. After musing for a bit, we land on our collective opinions on what the first 100 episodes of the show have been. It wouldn't be prudent to view any one episode in isolation. The experience and knowledge we look to impart to ourselves every time we hit record is something we think will bring value to others.

At the foundation, the core, of progress you have first principles. Fundamental truths that when observed and practiced almost guarantee a harvest. For us, for these first 100 episodes, those first principles have been consistency, omnipresence, and goals.

Whether you've been here since episode 1 or 100, thank you for being apart of the Note MBA community. Here's to the next 100.

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 to this Week’s Show to Learn:

  • About that time Robby was covered in bandages
  • What each guy feels is the overarching message of the first 100 shows
  • Which show title has Robby most concerned
  • How did the voting go on the survey to sell or keep the condo in Vegas
  • And much more!
Listening Options:

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

Cheers,

Chase & Robby

Nov 02 2016

39mins

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Rank #11: 102: 0 to 1500 deals in 3 years with Paul Birkett

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Since Robby had to take a last minute trip up to Chicago to take a look at some of their assets, Chase took the time to interview, Paul Birkett, who has a 20 year corporate career background with the likes of Proctor & Gamble and Pepsi Co and has been able to acquire 1,500 assets in his first 3 years!

To start out the conversation, Chase asks Paul to describe how he got started and some of the pitfalls he experienced in the beginning stages of his note business. He begins by repeating one of our favorite phrases on the show, “well, you don’t know what you don’t know.”

He started out in the Note business while doing a short sale with PNC Bank when the lady who was managing the short sale called him and told him we can’t sell you the note because we sold the note. Paul then met the guy who bought the note and discovered the wonderful world of notes. He quickly sold the roughly 15 rentals had so he could putting capital in to the note space.

He also describes how they grew a little too quickly for their own good after buying a large pool of notes in the Chicago area. Due to the circumstances though, they quickly learned necessary systems and people they needed to put in place so that everything that came in the door had a clear plan & process.

The gentlemen then segue into what Paul believes are the most important aspects of the business to focus on and how to run your day to day operations. He breaks it down by into two things:

  1. Your to do list which is comprised of his 1, his 3 and his 5
  • 1 thing he’s definitely going to do today
  • 3 things he really wants to get done, but may not get fully complete
  • 5 things that he wants to get done and if he can, he will. (i.e. never go to sleep at night with un-actioned email)
  1. Having systems for the day to day so you can easily scale and don’t get caught in a rat’s nest once you have 15, 20 to 25+ loans going on at once.

They go on to discuss numerous topics such as building a solid foundation to prep for scaling, how to embrace being “in the weeds,” & much more so be sure to listen to the rest of the episode!

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:

  • Issues with growing too fast
  • What type of growing pains you can expect if you’re just starting out in the Note business
  • Why Paul sold all of his rental properties to focus fully on Notes.
  • How to speak with investors to raise capital
  • Why you don’t want to put investors work immediately rather than let it sit briefly
  • What Paul believes are the most important things to be focusing on
  • 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 16 2016

53mins

Play

Rank #12: 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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Rank #13: 084: Marketing Strategies for Generating Leads, Appointments, and Sales with Chris Smith

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This week, we’re featuring a great interview with Chris Smith, a USA Today best-selling author and co-founder of Curaytor, a social media, digital marketing and sales coaching company. Chris is an incredible wealth of knowledge when it comes to marketing real estate businesses, and he joins the show to share his insights on the topic.

Get full show notes and more information here: http://bit.ly/29xtotE

Jul 13 2016

44mins

Play

Rank #14: 124: Investing in 2nd Liens, Case Studies and Turtle Pools

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Investing in 2nd liens has been the topic all month around here. And you know what? We're not about to stop now! On today's show we've got two phenomenal investor talking all about investing in 2nd liens. They drop some deal examples and case studies. We also cover some of the difference between the due diligence process on 1sts and 2nds.

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We kick off today's show talking about some wall art in Gabe Kass' office. It's a wonderful piece with four Chinese characters paint laterally. Roughly translated that characters mean, "If you work hard you will reap great rewards." Not sure there has ever been a more fitting quote to start a show off with.

Investing in 2nd Liens

Kicking us off Kimberly Bank Fawcett talks about a 2nd she recently acquired in Miami. This particular deal has a performing first, which is her preferred style of investing when it comes to 2nds.

We previously discussed with Fuquan Bilal the 4 buckets of investing when it comes to 2nds. The three main buckets we talk about in this show are: performing first with equity, the non-performing 1st with equity, and the non-peforming with no equity.

She gives us a breakdown on the numbers, and why she wasn't too worried about a possible bankruptcy. The fear of bankruptcy, by the way, is one of the potential major downsides to investing in 2nd liens. Gabe gives a brief rundown all about it later in the show.

The Difference In Due Diligence

Later on in the show we spend a decent amount of time going over many of the due diligence nuances on 2nds. In a nutshell, the biggest difference in due diligence between 1sts and 2nds is what you're researching.

We covered it in many different forms on the show already, but for investing in 1st liens, your major due diligence piece is the property. That isn't the case with 2nds. When you're investing in 2nd liens you want to start by researching the borrower. One of the main tools both Kimberly and Gage talk about using is TLO.

According to Kimberly, using just someone's name and where they live you can do some gnarly research. With that information, which admittedly isn't much, you can pull their social security number, date of birth, every email address they've ever used, the age of all of their cousins, the last time they ate a gyro from that weird Greek place at the mall.

You get the picture.

From there we move to the next really important piece of due diligence, pulling credit. The interesting thing about this is that you really have to rely on your sources/seller of the deal to get this vital piece of data.

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 Major Due Diligence Differences Between 1sts and 2nds
  • Why Many Investors Are Sticking With 2nds
  • Why Two Different 2nds Investors Recommend You Start Your Business Differently
  • Some Amazing Resources And Vendors To Use When Investing In 2nd Liens
  • What To Do When Your Investment Gets Picked Up And Destroyed In A Tornado
  • 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

May 17 2017

1hr 2mins

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Rank #15: 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

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Rank #16: 068: Becoming A Full-Time Real Estate Investor

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This week we are doing an Investor Spotlight with Gabe Kass, an investor out of Huntington Beach, California.

Just within the last 6 months, Gabe has left his full-time job working as an analyst on some very large bond portfolios to focus on his note investing/real estate business. He’s currently managing a portfolio of over 25 notes and has recently picked up a handful of REO properties.

He owns a mix of 1st lien and 2nd lien position loans. Gabe also has a background in managing a portfolio of hard money loans for his family members.

One of Robby’s biggest takeaways from the call was Gabe’s digging into social media background of delinquent borrowers when evaluating potential note purchases.

Beyond that Gabe shares a great resource for getting drive-bys on properties. For $35 you will get a report on the condition and neighborhood. You need to get a few minutes into the show to find out about this great nugget of information. (www.nvms.com)

We span the note business, from evaluating notes to how conversations with investors go on the front and back end of a deal. We also talk about investing only money for friends and family, and Gabe covers the progression to also managing assets for friends of friends through a close network of peers.

Gabe’s whiteboard notes on his business routine:

  • You need to acquire new loans
  • You need to market your loan results
  • You need to network to gain new investors

Sign up for Gabe’s newsletter on his website at www.surfcityinvestors.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:
  • Our First Investor Spotlight
  • The Difference Between Investing In 1st and 2nd Liens
  • How To Use Social Media Due Diligence As An Investor
  • How To Distinguish The Goals Of A Potential JV Partner
  • Which Deal Got The Note Of The Year Award
 Listening Options:

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

Cheers,

Chase & Robby

Mar 23 2016

47mins

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Rank #17: 096: Mindset & Earl NightingaleThe Strangest Secret

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Today we talk about Earl Nightingale, The Strangest Secret, to be precise. Don't let the age of this message fool you. It packs a punch.

Back from a month long and much needed vacation to Barcelona, Spain, Robby is finally back to join Chase on an exciting episode where the two catch up on everything that has transpired over the last month in each others lives. They delve deep into perspectives, the benefits of vacation, mind sets & videos they enjoy repeat watching.

One of these videos / audio files they enjoy going back to watch every now and then is the Strangest Secret by Earl Nightingale. The message and recording is now 60 years old and is still as relevant today as it ever was. Robby and Chase discuss one of the great quotes that came from this recording that defines Success as “the progressive realization of a worthy ideal,” before they replay the recording for all to hear.

To finish out the show, they briefly discuss the recording and the need to focus on staying positive and growing yourself, your business, your relationships, your friendships, your spirituality, your health and/or whatever else it may be that you are working towards. The definition of success for yourself is going to encompass those things that are unique to you and have meaning to you. Your goals / worthy ideals are what should matter most to you and will ultimately give you the most happiness in life when you realize them.

Be sure to listen in closely to Earl Nightingale’s message even if you have heard it before as it is one of the most powerful & impactful messages out there.

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:

  • How impactful perspectives & your mindset can be on your life and goal fulfillment
  • Insight into why vacation and “recharging your batteries” can be so beneficial
  • How Earl Nightingale defines success and why it is so important to your happiness in life
  • 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 05 2016

42mins

Play

Rank #18: 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

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Rank #19: 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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Rank #20: 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