5000 Asset Managers to Freedom

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This is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property for panties on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now here's your host CEO of We Close Nodes, Scott Carson.

Hey everybody, Scott Carson here. Just want to say thank you again for listening to the podcast. If you've been listening for a while, you're subscribed to the podcast. First of all, thank you. Second of all, hey, you know, if you're you're not one of our coaching students or you haven't signed up for one of our three day workshops, here's an opportunity for you. You want to check out our WCN membership. This is the biggest bang for the buck of the notice street. Besides our one on one coaching, this is our monthly membership for 97amonth that gives you access to all of our online training, our virtual workshops, our note weekends, our special one day master classes that we've taught in the past, anything that we have going in the future, as long as you're a live member, if I can't make you or save you $97 a month, I'm doing something wrong. But save you paying 997 or 99 bucks or 399 here or anything like that. We make it affordable at $97 a month and like I said, it gives you access to all of our past replays, our upcoming classes, our access to our special classes. We also do weekly coaching calls with our WC members and also our WC members also get first crack at tapes and lists of notes that we get in after our one on one coach to take a look at them. But it's a great way for you to go. You can also schedule call with me anytime to go through deals that you're working on marketing things, questions you got going on about a deal. We're here to help you. So how do you get signed up for that? Really easy. Just go to noteumbrella.com that's noteumbrella.com get signed up there for you 97amonth guys. Like I said, biggest bang for the buck of the nursery and we want seeds of the family. So let's get you signed up today. That's known umbrella.com welcome to the no family everybody and thank you for always for listening. Good morning, good afternoon, good evening everybody. Welcome this episode of the Note Closure Show. Always excited to be here with the day. Today I want to talk about asset managers. Now I'm not going to talk about what to say to asset managers. What I'm talking about is something that I learned this weekend, this past weekend from teaching my virtual note buying workshop. Now I've been teaching my class for since 2010. So this is going on the 13th year that I've been teaching other note investors or want to be note investors how to tap into the non performing note space. And how do you do that? Well, you tap in by networking and go to a few websites which are kind of like the bottom of the barrel or you can go direct to banks and asset managers. Now here's the thing that I've known for years, other educators, other gurus, sorry about here about throw up in my mouth. Don't want to share asset managers with you. They don't want to share how you connect with these note buyers and sellers. Why? Because they want you behold of them. They want you buying notes from them directly and paying their up jacked up charges above and beyond what they are paying for. I get it, it's capitalist. But the problem I have, the big problem I have is when you pay one of these educators money like a size like 5 grand, 10 grand, 20 grand, 50 grand and they still don't give you any sources. This really chaps my hide because look, there is plenty of sources to go around and one of the biggest aha nuggets from my class, especially on Friday, Friday's all about finding assets, finding deals. I had people that were just blown away. They're like, you just shared how to find basically 5,000 asset managers in a matter of two hours. I'm like, yeah, so nobody teaches that. I'm like, well I do, I'm somebody. Because that's how we've made a business is going direct to the source. Most investors are just predominantly freaking lazy. I get it, you're lazy. We want the low hanging fruit, we want somebody spoon feeding us, we want somebody waving the fan, draping grapes down so we can nibble them on them like Cleopatra on the Nile, right? But what you have to realize, ladies and gentlemen, is if you really want to get ahead, if you want to find deals where nobody else is looking, you got to go where nobody else is looking. Looking. I mean you can jump on LinkedIn and find, you know, a couple about a thousand whole loan traders. You can jump on and find a hundred thousand special asset managers or 60,000 secondary marketing professionals, chief credit risk officers. Look, there's no end to the amount of people you can find all it takes between, all it's in between you and success honestly is just reaching out and systematizing this on a weekly daily basis of outreach. And then guess what? Following up. Following up. Following up. When I was first starting off, when I was, this is all I was doing back in 2000, really 9 and 10, I set a challenge for me to be direct to 100 asset managers that semi product in a year. Okay, 100. Within three months I changed that to a thousand. Okay. Now that number has blown up way beyond there. I think there's 7,000 some odd asset managers on our email database that we have that we drip market to. Does everybod have something every time I send an email? No. Do people unsubscribe? Yes. Do people leave their job and the emails about best? Yes. But that still leaves 95% of people on that list. And you never know when somebody's going to have something and you have that, that whole drip marketing campaign where you're not fighting hundreds of thousands of people fighting over scraps on paper stack or JKP holdings or any of that stuff. That's just I, I say, I mean I only use those websites to go find the people that posted one thing and I go find and get their whole portfolio. You have to realize, ladies and gentlemen, is that note sellers, really, note sellers, asset managers are not going to show up to a paper source or a DME or really to an imn. They're too busy selling trades. If you want to find them, you need to reach out to them. And don't, don't waste 50 minutes of the time. Don't you waste 15 minutes. You got to get your message across in a minute or two and five minutes. And these guys and gals are moving stuff. They don't have time to teach you the note business. They need to teach you how to buy. And that's why we, you know, that's why we're successful because we show people how to go direct to source and how to find sources. Yes. If you want to be lazy, then after you've bought a few and be specific to only a few areas, that's totally fine if you're just chilling. But if you really want to dive into the note business, I can show you how to find 5,000 asset managers in just a few minutes. I can show you how to do it a whole lot cheaper than what most of your paying. But that's what our coaching's about. If you want really help, we'll kick your ass and help you make things happen. And that's, that's, I think that's something that separates us more than anything else out there. And it separates all of our successful students from those that are just tire kickers not doing things. The successful students, they don't mind getting their butt kicked a little bit, pushed along to the point that they're closing deals. They're getting direct sources from people that mass majority aren't going to reach out to. Now really the true number of successful people is really like 1%. That's about all people that take on. You have about 10, 10% of people take action, but less than 1% stick with something long term. It's like, it's just normal people get shiny object syndrome. They bounce around, they get tired and realize it's going to take a little bit of work that they just can't show up and have success happen. I mean I can't get a participation trophy as an adult. Come on now. And that's the thing. Look, you can find asset managers if you go, if you do go to conferences that asset managers are going to like the Western Secondary Marketing Conference or you pull a attendee list from IMN or you, you pull a list of mortgage bankers licensed in your state. Okay, you jump on LinkedIn and type those job search like we did. Those are plenty of sources. You can jump on Lane Guide and look for REO or node asset managers on Lane Guide. Yes, Lane Guide is back. Lane guide dot com. I just want you to know, ladies and gentlemen, you don't have to be sold a bag of out there. You don't have to pay. If you're paying thousands of dollars for coaching and that person is not giving you leap gin and just using you as a bird dog for them, you are being abused. You're paying a whole lot more than five, ten or fifty grand if you're only buying from them because that's all that they provide you with is list from them. They don't show you how to go out and buy on your own. You're getting, you're getting, you know what I mean? You're getting taken of advantage of without the Vaseline. And you're paying a lot more than what you're paying because you're paying through the no go out, hunt and kill. We had a guy on this weekend, nice guy, little older guy, paid coaching from somebody else. Not our coaching, somebody else. And he's like I'm looking to buy some notes, performing notes. I go, what? Okay, what's your money cost? Gonna cost you 15. I'm like 15. I'm like, what the hell? That's hard money classes. Where's our money class? Because, well, I'm basically just a bird dog for. This guy taught me the note business. Like, he didn't teach you the note business. He taught you how to go, go find a 15 performing or reperforming note. Why don't you put that in your own portfolio? Once you buy that for yourself, he's, well, I don't know how to raise capital. So this guy didn't show you how to raise capital? No, I was like, aha. He wants you to be beholden to him with his money. Not the fact that you can go find money at 6 or 8%, because that's what he's doing. He's using other people's money to fund his deal and he's using you as a bird dog to go forward deals to him. And, you know, finding true performing notes at 15%, you can find reperforming, but you can find better deals at 12 if you're using six from somebody else and making six yourself. We went down and broke it. We took 180 notes and broke it down in about 30 minutes to 31 notes, which 24 of them had performed, were on time or performed, made a payment in the last six months alone. And if they were to offer on that, that would have been a 40% of value. That would have been at 6, 60 cents of UPB. UPB or legal? I think it was 60% of legal, actually. They would have gotten a 15% cash and cash return and been able to give, you know, 6, 7% to funding partners on those deals. With the average note price being. It was like $63,000 on that. Well, you have to realize everybody. No, sorry, it was 43,000, 63,000. We have to realize everybody. Look, there's deal flow out there. If you're coachable and you're willing to listen and there is a lot of free information out there. And I think part of our superpower is that we've come from the mortgage business. We understand how to find loan officers or mortgage brokers, or how to track deeds and sources and use accounting records. These are not superpowers. This is public information at your disposal. This is public information that is free in most cases or you got to sign up for a very cheap membership in a county across the country to access this information. Not expensive, not hard to do. You just have to somebody hold your hand and walk you through it and then show you what to say, what not to say. And how to follow up. That's what this call comes down to is marketing. You're, you're just a few minutes away from 5,000 asset managers, but it's a longer journey to go from 0 to 5,000 and making a connection one at a time. But not the whole dial for dollars. Yes, you can still dial for dollars. I'm still a big advocate of knocking 5,000 phone calls that day. But getting an email blast out to the 5,000 and then following up with those that have opened the email that responded so that you have the hot leads. Finding deals is not difficult if you just market and you put a few systems in place. Unfortunately, most people out there are not teaching marketing. They're teaching nuts and bolts of what a note is, how to evaluate a note. And that's it. That's great. But that doesn't help us as investors. It doesn't help you if you're out there struggling to find deals. It doesn't help you if you're struggling out there to raise capital. You let limiting mindsets, well, I can't market, I can't raise capital, so I'm not going to do anything that's. I'm sorry. There is plenty of opportunities for you. Plenty of capital out there needs to be put to work. You might as well tap into it. Plenty of deals that need to be bought, you might as well buy those deals. You might just put those things together. The capital, the money is brought together by your marketing. There's 5,000 plus. I mean there's thousands of thousands of asset managers out there. There's millions and millions of IRAs out there need to be put to work. You just got to be a deal engineer and put the two together and put yourself in the middle and make money. And that's really just what I want to leave you with. I'm, you know, I had a great class this weekend. Thank you to everybody that attended. Our next class will probably be first part of May, maybe the end of April or early April in 90 days. You can always check out. You can get signed up today for the replays. You can sign up for the next class at Note Buying for dummies dot com. We'll put a link in the description. But guys and gals, there is opportunities for you everywhere. Just, you gotta realize a lot of people out there are putting blinders on you and you don't even know it because the thing that they you, the thing that's important these days is finding deals. If you find a deal, everything else is important. But if you can't find a deal, it doesn't matter if you're the most knowledgeable person about a breakdown and analytics. But if you've never looked at a deal or you're only beholden to 100 assets on a website and that's all you look at, that's not the note business. That's just playing let's get you, let's make you get you making some real money looking at thousands of assets, talking to hundreds and thousands of asset managers and let's make a real business on let's be in the note business, not the note, you know, note wannabe business. That's why we call our class Note Buying for Dummies because when you graduate, you're no longer a dummy. You're educated and you're a note smarty. So let's get you going out there taking some action. You have any questions, feel free to book a call@talkwithscottcarson.com that's talkwithscottcarson.com and we'll see you all top everybody. Bye. Sam sat.