Best Tips for Realtors Who Want To Become Real Estate Investors

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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 Real estate investors, this is Scott Carson. I'm known across the country as the.

Note Guy and I've been an active.

Note investor focused primarily on the niche of non performing notes, distressed mortgage notes on residential commercial properties for almost 20 years now. My company is we close notes.com and I know there's a lot of different things when it comes to the note world. Are you buying performing notes? Are you buying owner finance notes? Are you buying institutional debt? Like I would focus on Are you buying first seconds contract for each There's a lot of questions and it can be very confusing about what you can or cannot do. So one of the great things that we've hosted for the last couple of years that we do on just about a regular monthly basis is we host our one day class called Note Weekend. If you go to noteweekend.com you can register for our free three and a half hour class. We'll talk to you and share with you how you find fun and flip non performing notes. And yes, you can buy non performing notes from banks, hedge funds and a variety of different hard money lenders out there for your own portfolio. No, you don't have to have millions of dollars to dive into the non performing note game. We've got students that have bought plenty of deals with 2530 grand getting their ball rolling using their self directed IRA who are tired of dealing with toilets, tennis trash desks, tired of battling contractors and GCs to get properties rehabbed. We all know the market is changing and while it may not be like 2008, 9 and 10 again, it we do see a lot of distressed debt out there on both the residential and the commercial side. So if you're thinking about diving into the note game, becoming a note investor.

A lean lord as you'd like to.

Say, versus the landlord. Or you just want to figure out what it is about the sexy side of real estate in the note space. Well, check it out. Noteweekend.com doesn't cost you anything. We host it live usually the first or second Saturday of each month. You can go today. Register at the website noteweeking.com Register for the next live class we host. You'll get sent A replay to the previous class so you can start learning about the note business today. No questions asked, no credit card needed. This is a great way for you to dip your toes in the water and see if it's warm because I guarantee going through art three one day class. You want to dive into the deep end and become a note investor. So check it out noteweekend.com you can also go to our website. We close notes.com check out our podcast, check out our YouTube number one YouTube channel. We are here to help support you. Whether you're experienced investor or you're brand new investing Note weekend is a great place for you to get the ball rolling. People often say we cover more in our three hour class than most people cover in their three day class. So check it out. Love to have you be part of our note family but get signed up today@noteweekend.com thanks and have a great day.

Good morning, good afternoon, good evening everybody. Welcome to this episode of the Note Closure show. As always, Scott Carson jacked up to be here with you today in this episode. This episode goes out to all the realtors out there. I know a lot of realtors are struggling right now, just like a lot of loan officers. Markets are changing, inventory is going down, days on market are going up. You know, property values are dropping. You have this kind of trend that we see happening every recession. You know, when the market's going up, Realtors suddenly are, you know, a dime a dozen. They're getting as many. And you can always make money in a going up market. But when that market turns south and you have more distressed stuff or days of market and you actually have to market as a realtor to find deals, to find buyers, to find sellers, to find listings, a lot of them are leaving like rats off of a sinking ship. Okay? But there are some opportunities for those investors or, sorry, those realtors out there that want to become an investor. And as realtors, you don't. I mean, you don't have to have a real estate license to be a real estate investor. But if you do have that license and have access, the mls, the multiple listing service, guess what? You've got some advantages that you need to take advantage of. You've got some tools that, that we as regular real estate investors don't have access to. Now what are those tools and what avenues, what types of deals would I target if I was a realtor? Now, I'm not a realtor. I did. I've stayed at a Holiday Inn Express. You know, in the past, my ex wife became a Realtor and we used her license and some things. I've got realtor friends that we leverage their license with. So but and I've had plenty of my friends who are Realtors reach out to me in the past 90 to 120 days to ask my council on ways that they can find deals or ways that they can start working with investors. Now they're reaching out to me more as how to get more listings or how to get, you know, more buyers or sellers to work as a Realtor. Now I'm not. That's not what I'm going to talk about with you. This episode is how you as Realtors out there can use these tools that I mentioned, the MLS and some other deal specific that opportunities that you can target with your access, with your expertise that I'm not going to have access to. You know, the non realtors aren't going to have access to. So here's some of the tools. The first thing obviously is the multiple listing service. You can literally go on and pull all these trends and see what's going on and you can use the MLS in a couple fashions. One, most multiple listing services, if there is a property listed in its pending foreclosure, there's going to be a button or some sort of thing on your list. You can see what here in Austin they call it like a real estate report where you click on a button, it pops up a flag. If there's a foreclosure flag, you know, a pending foreclosure to county or taxes, it shows who the bank is and that's a good way to spot any foreclosures. And then you can actually see who the lender is to potentially reach out to buy the note is what we would do. You know, that's an opportunity. The next thing is an opportunity for is you can pull list of short sales to see what listed short sales are available and then also doing that real estate report to see who the lender is and see about potentially buying the note at a discount and then approving the short sale and short paper the transaction where if you buy the note at 75 and the house sells at 130 on a short sale, you just made 50, $60,000 having an investor or a private money partner fund that note purchase but knowing that hey, there are offers on the table and we know most Realtors will talk to other realtors to give them insight. Yes, I've got cash, strong cash offerings, I've got strong buyers. They can close in 30 days. Or less. And that's something that if I call a realtor they're not going to tell me that because I'm not a realtor, you know what I mean? So that's an opportunity that you have. Look at the short sales, see who the lender is and then contacting the banks, if it's a smaller or regional bank, I would be calling because bank of America, Chase, Citigroup, stuff like that. Those are some great deals. Now you also have opportunities looking at the MLS for expired listings. Now a lot of realtors are chasing expired listings to try to get that listing. But listing has become expired here, especially recently. It's because of a couple reasons. A, the homeowners don't think they can sell in this market. B, they owe too much. Maybe they're a little upside down with the market values dropping or they can't buy anything or they just don't think their house can sell because they, they've given up on the idea that now those are great opportunities for investors to reach out to for potential subject to deals. Reach out to that borrower. There's if it's an expired listing, you're not stepping on any realtors feet because it's expired and approach them and say hey, I may have somebody who's interested in buying the property with owner financing or are you willing to let somebody take it over? Subject to, you know, especially if you see it's an expired listing and it's got a foreclosure flag that's a really motivated seller or if you're pulling the local foreclosure list, you know, from the, you know, foreclosure filings. Like with us here in Texas, we've got the ROTI report or the foreclosure listing service. Pull on their list and see if any of those properties are listed on the MLS or have been listed. That's potential subject to deals or short sales that you can take down. And if you can't get the bank to agree to a reduced price on the note or reduced price of the property, it's at least a listing that you can take over and run with it. And that was one thing that we targeted in the previous recession we had a couple of realtors that would bird dog those listings. Now especially when you see foreclosing short sale listings, we would have them and we still have this happen today especially we started in doing this in Houston, Harris county and then up in Dallas for Tarrant and Dallas county up there is if it was a listed short sale, find out who the lender is and let me email me a list of the lenders and I would see if I know that lender, somebody at that lender, that bank, and see about buying that debt at a discount. And when the market was still going up, most of the banks weren't taking that big of a discount. But after the market has changed, banks are much more willing to take a discount than have a short sale listed on, you know, for six to 12 months. Now, another tool that you have at your disposal besides, I mean, you do have the mls. But if I was an agent, when I would be doing, I would be running a list, a search for any listing that popped on the market that's really under $150,000. A hundred or less. Why that number? Because that's the first time home buyers, those are often, you're gonna be the ones that get gobbled up for rental properties. Maybe they're distressed properties. We just worked with an agent student of ours and we pulled up a list in, in Broward county in Fort Lauderdale and there's about 160 properties in Broward county that popped up that were below that $150,000 mark. And there was five or six that were expired listings that were distressed properties, that properties that need rehab, they needed fixing, they need somebody to step in. Those are opportunities for you to reach out to the homeowners on these. If the Realtor, and hey, maybe you can get them to carry financing for a while while you go in and fix the property.

If you buy it as is with.

Financing in place, fix it up and then sell it off. Maybe you bring in a hard money lender, maybe you use this to flip it or wholesale it to other investors buying in the area. One of the greatest strategies and the most, one most powerful tools that Realtors have that they don't take advantage of is when they're buying, when they have a listing in a property. Doing a search for Realtors who have listed properties in that same area and finding, hey, do you have somebody or seen somebody? If there's an LLC who has bought in that zip code in the past. No, past few weeks, past months. Because oftentimes investors want to buy in specific zip code because they have their crews, they know the area, they know comps, they have their contractors, vendors, stuff like that, they know what the rent rates are, stuff like that. That's a huge opportunity. If you're a Realtor and you find a distressed property or something wrong, is that you have access to that. And the minute it goes online, if you set reports, you can jump on those faster than other people ask them. It's been expired. Guess what? You have the opportunity to make some lemonade out of lemons that another Realtor have or the current homeowner has. It's a lemon to them because they can't get it sold and it's expired and going on there. So these are things and tools that you as a Realtor have access to. You don't know. Another tool that we've talked about before in the podcast is something that's a Realtor has. If they, you know, they're National Association Realtors. Every Realtor's license is a member of the National Realtor Associate. You know, Association Realtors. Nar, not nar, not nra. Nar. Right. And I've spoken in the past as a national Associated Realtors. I spoke a few years back in in New Orleans back during in 2010. It's hard to believe it's been 12 years now, but I spoke on a panel about distressed debt, stressed assets and you if you're a Realtor out there and you know your NAR number and password or what it is, you can log into NAR rpr. This is national association of Realtors Real property reports. That's narpr.com n a r rpr.com and I think about that for a second. But this is free access for you to pull basically AVMs, automated valuation models on properties across the country. It's not a bpo. You don't know the condition of the property. The great thing is NAR RPR will give you kind of a confidence level and it's, it's tied into the MLS in those areas. So it's about pulling like, it's pulling like comps without you know what the condition of property is. And this is a really great due diligence tool on the front end. You still want to have a local Realtor go by or a local BPO agent puts eyes on the property and doing the external or interior or both BPO to tell you what true condition the property is. But when you're making initial offers, being able to run an NAR RPR report, easy not having to pay 150 or 200 initially on the upfront, you can get a much more accurate idea of the condition of the property. Now leveraging that NAR RPR report with maybe a current photo off of Google Maps or Zillow Mat or Zillow that shows something current in the last 90 days or last 120 days and get an Idea of property value. That's a strong due diligence aspect that can speed up Your offers in 24 to 48 hours faster. While you're waiting on a realtor or somebody there locally to come in. If the confidence level is good enough, if it looks, you know, if it's occupied, great is probably going to be decent enough shape. Obviously the biggest things are vacant properties and not knowing the condition. So if I was a realtor and if I was struggling to find deals, I would start buying deals for myself. I would start reaching out to buyers. I mean the ability to pull who's bought a property or owners in an area searching. We had one realtor out of Philadelphia who pulled the list and was able to do it by Equity Trust and find buyers who'd use their self directed Ira and she instantly found about 60 buyers. I'm like, that's, that's literally gold. That's a gold nugget right there. So if you're a realtor and you're struggling, do yourself a favor, don't look for another job. Use the tools that you have at your disposal to help you maximize returns, to help you maximize your investing. Look, I get, if you want to be a realtor, that's great, you're happy, or a broker, that's fine. But this, you owe yourself the opportunity to take action out in your spare time or your off time. I know a lot of realtors work all the time, but taking some time to invest in your side hustle for your long term future. I guarantee if you talk to a realtor or broker who's been around for 10 or 15 years, they're always gonna tell you they wish they bought more early on, they wish they'd taken more time to buy real estate for themselves versus giving all the good deals away to their cash buyers. And that's another thing. If you've got a list of investors that you've sold houses to, that might be a pretty easy conversation doing a blast out to your investors that you've sold. Say, hey, I've got a deal. I want to take this down. Would you partner with me on this? Would you fund this deal and we work this deal together. Now that's on the real estate side. On the note side, it's a different aspect of things. But hey, maybe, maybe that's where the opportunity is. But if you've got a real estate license, put it to work. Don't. And, and here's the thing, you can't be a jack of all trades. You, you really need to focus on one two of those strategies besides being a listing agent, a buyer's or seller's agent, you know, and really focus on one or two strategies. But do that in your part time and the fact that you can create these reports and take a look at them. Such a valuable, valuable tool for you out there, you know, and same thing doing searches, maybe aligning yourself with a self storage owner who is looking for odd shaped property or land or other investors that are looking for 10 or 15 acres. Setting those types of searches up is a really valuable commodity that like I said, not everybody has. So realtors, if you're struggling, this might be one of the most valuable videos for you to implement to use the tools that you've worked hard. It's not easy getting a license and then paying dues. Put your dues, put your MLS access to work, start paying you versus you helping everybody else out there. So take some action. If you have any questions or want to pick my brain, it's really easy. Go to talkwithscottcarson.com that's talkwithscottcarson.Com and you can schedule a phone call and I'd love to visit with you and see if there's a way that we can help you take your business to the next level. So go out, take some action buddy, and we'll see you all at the top. Bye.