EP 503 – The Tale Of Two New Note Investors

Foreign this is the no Closers 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 pennies 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 notes, Scott Carson. Good morning, good afternoon, good evening, everybody. Welcome to this episode of the no Clothes Show. As always, Scott Carson. Excited to be here today. Gorgeous day here in Austin, Texas. Out there being gone for the last week. Plus it's been kind of a hectic schedule around here. We headed out to podcast movement in Orlando and were able to hang out with us from our other extended family, I guess you could say, of podcasters from across the country getting together over 3,000. And so we had a good time hanging with them. Didn't stop us from doing business, selling quite a few assets off, selling some more this week. And so it's always nice, fun to coordinate going to an event and attending with 3,000 people on something you really look forward to for six months. And then also run up to the room, hey, let's get some contracts, get some bids, counters. So we're still in the process of doing that. I also had the good fortune of speaking at a real estate investment club on Monday night. Really enjoyed that. Over 50 plus real estate investors. That club has been around for 30 plus years. So, hey, they welcomed me with open arms. We had a great time of visiting and it was just great to share knowledge with those investors about the note business. And today's topic is, we commonly call it the tale of two Note Investors. Why am I calling this? What was funny is on Monday, as I'm in the hotel working, I get phone calls from people. And one of the beautiful things I love using is our calendly app that people can schedule a phone call with us to speak first. You know, I'll talk to anybody for 30 minutes. Anybody's brand new. I'm glad to do them on the phone, visit with them, talk about the business, talk about real estate. You know, we had a lot of our students that call to inquire about things. You know, people are going through our note, buying blueprint and it's a great time. It's one of the favorite things I love doing each day is, you know, having those conversations with new or experienced real estate investors and people new to notes for the most part, and then some experienced people. But Monday was an interesting day because I had two different phone calls and it was interesting because they're both kind of on opposite sides of the spectrum trying to come into the note business and have these types of conversations weekly with investors. And one was a brand new investor, brand new to real estate. Only been in real estate roughly three to four months, but just absolutely hustling. The other investor, very experienced in commercial real estate and property management, doing fix and flips in two different sides of the country. All right. And one's in California, you know, the experienced person. The other one is in Louisiana. All right. And the thing that was interesting is just they both asked a lot of great questions like, okay, what are some of the things I should be doing to be smart about this? Where should I be going if to get deals? What should I be doing? What are the steps that I need to be taking to get things done? And we'll start with the wholesaler aspect. That's basically what he'd been diving into initially was wholesaling and he had deals. He made some money in his first few months. He was really hungry. And he had an accountability business partner doing some things. Great stuff, okay. But he didn't have any funds. He didn't have any of his own money. Is relatively new out of school by just a couple years, actually about a year or two. But I just found and been networking his local real estate club. But absolutely had already made a name for himself is what I'd heard. He's getting well known there. He's getting deals done, doing a great thing. The other investor been doing stuff for a while. Like I said, he was in commercial real estate, commercial property management. And was one of the things that he was like, I really want to get away from doing this. I really don't want to do this. I think notes are the best route. And he's done a great job of putting some money aside. So I really just want to use my own funds. And what was funny, they were both asking me about our mentoring. And the big thing was funny is how people perceive time and things. This is kind of an interesting thing. So the guy in the wholesale were talking about things. He's like, man, I've learned a lot from you so far with the blueprint and the podcast episodes. He goes, I can't wait. On my mind, on my goal is to become a part of your fast track. Come in and spend a couple days with you, Austin. Because I know I can do a lot of big things, but I'm just not at that point right now. I'm like, that's fine. We get Rock and roll. And this guy's out hustling it, you know, wholesaling stuff. He's building an investors databases, local networking clubs that he goes to two or three, not only in his city but in other areas around his town. And then just doing a great job. The other guy doing a great job already had a bit of a network, but doesn't, I don't think he was going initially to his local real estate club. Now he knew that in Southern California where he's located, there's quite a few non investors. He's talked to some art students or past presentations, good things to say. It's a great thing, right? But one guy, the wholesaler has a lot more time to put into it. Roughly 20 plus hours to 30 hours a week because that's what he's really looking to do. Still works a part time job, but he got motivated because he needed to pay some bills. Let's just face it, we all go through that, we all had that point and we got to pay some bills and he was just hustling. And that's one of the great things I love seeing in people. Just that they got the fire. Other guy, hey, he's doing well, he's putting some money in the bank, he's got some savings, he's got some things, rock and roll. But he's not happy at all with what he's doing. Okay, not happy all with the property managers. I already deal with toilets and tenants. And the funny thing is, as I was trying to, he was asking me all these questions. Literally took full 30 minutes. And that's totally great. I don't have a problem at all, you know, how should I find this stuff and what should I focus on? And it was funny as I finally got down to those, like hey, what's the issue here? You know? And he's like, well, you know, I'd love it if it was in Southern California. Like listen man, if you're looking for stuff in Southern California, by all means, go do something else. Stick to what you're doing. You're not gonna be able to, you're not gonna be happy if you can't get beyond the mine block of getting outside of Southern California. You're gonna hard. Oh no, no, I can do that, I can do that. And he goes, I just don't want to use, I want to use my own money. At first I just want to do it by myself. I'm like, okay, that's fine, you are. But what's going to happen is you may find a really sweet deal, fund it now your money's tied up. And if you've not marketed for other capital, because he's like, oh, I'm good. I got my own money. I need to market for other people's money. And I was like, no, you're going to need to still do that. You're still going to market. You're still going to need a network. You're still going to need to do the things you need to do to raise capital to close individual deals and the fact that you're in Southern California in a much higher targeted area for raising capital than the wholesaler was. And we went back and forth and he's like, well, okay, tell me about your Fast Track train. I've heard about it. I was telling you, I don't think it's worth the 15 grand is basically what he sold me. And I'm like, that's fine. If you don't think it's worth that, that's fine. That's your opinion. But if you're struggling to find success, you're unhappy with what you're doing. I think you would rather do something that will help you get to where you need to go in 60 days versus six months or six years. Because he only had roughly about 10 to 15 hours a week. And I asked him, well, if you're doing this and doing this, how much time do you have with your spouse? He goes, not much. And I told him, I was like, listen, I don't think you should be doing this thing. And he's like, why? I go, well, first and foremost, if you're not spending time with your spouse or you're not having a lot of time with your spouse, that's not a good sign. You want your spouse to be supportive, not be upset that you're dabbling something else. Second thing, you're going to use your own funds. All right, that's just a point. You can sit here and argue with me all day long. If you really want to build where you need to replace one of your incomes, what you've got going on, you want to walk away from the property management side, you're going to have to learn to leverage other people's money. You're also, if you want to do it in 60 days, great. I think our Fast Track is the best way to do it. Keep studying the blueprint and go try to do it yourself. The other guy is like, hey, I don't have any money. I understand it. How do I need to do this? He's immediately, especially in the Things I talked about, hey, jumping in on the. One of the things I mentioned with both was that, hey, you can jump on the county records, you can jump on the county appraisal clerk's office to find people who ever bought deals with self directed IRAs or who have funded deals and loan money out of their ira. One is like, oh my gosh, that's a great thing. The wholesaler, the other guy, oh, okay. And who do I think is to be more successful in the note industry? I think you may already figure this out. The person I believe is going to be more successful in the note industry is the wholesaler. Now why is that when the other person has more experience and has money in the bank to do some things, that's not saying the other guy here is not going to buy deals, it's not going to close to it. But long term, I believe the wholesaler is going to have a better take in the industry. And why is that? He's hungry, he's coachable, he's not going to argue about something when somebody's trying to give him information, give him, you know, counsel. You know, I think we've all been guilty of thinking we know more than what we know at some point. But if you're going to be successful in this industry, you've got to listen to what other people who are where you want to be, who are closing deals, are closed a lot more deals than you have. If you're going to argue with somebody, I won't say arguing arguments is strong word, but just kind of pick at somebody's experience and how they've helped hundreds of people and something you already signed up for. It's difficult. And that's the one thing too I see happen a lot of times sometimes come in, they're like, oh, I'm just going to watch these parts of the training. Like, no, you got to watch it all because it all builds upon each other. If you can't go in a hunt and peck, I'll give you an example. If you were a brain surgeon, you'd go through 12 years of medical school before you became a brain surgeon. A lot of people want to come in and just read and learn one part, how to slice and dice and they want to be a brain surgeon. That doesn't work that way. You got to know the layers that go to. You got to understand the layers, the organic chemistry, the basics that go with it. It is not the same thing as going out and buying and flipping a property. It's not the same as going out and buying a rental. The note business is completely different. And so that's another thing that I see new versus experience. A lot of times. Newer students, people that are newer to the game, have a better success rate because they haven't learned bad habit. Bad habits haven't been ingrained. I'm not saying the other guy had bad habits, just that he's got a permanent. He's got his experience as a fix and flipper as a property manager. I'm not saying it's bad experience, but he's going to rely more on the real estate side versus understanding something new and learning the best ways to do it. Some people say it's easier to train somebody brand new in the industry than it is somebody who's experienced, who's got all these bad habits or premonitions that they constantly kick in. I'll give you a great example. We had years ago, we had a friend refer somebody to come in and, okay, he's a local realtor. We'll have him work with us. Great. Gave him stuff to watch. He actually came to a workshop, but he didn't pay attention. He wasn't in the room half the time. And when he came down to making bids, he weigh overbid on assets. We like this whole tape of Georgia assets a few years back, and he weigh overbid based on the values of the assets. I was like, wait a second. Look at the unpaid balance. Why are you paying? Why you want to make full offer? Because there's all this equity. I'm like, you got to listen, bud. That's not what we're bidding off of. Did you not watch? We're doing. No. Okay. And then one other thing that we did was really kind of cool. We brought these assets in. I had another student and him get together, and they were doing due diligence. Well, this guy's like, oh, I'm just gonna let him do it all night. Doesn't work that way. Jump in, pull values, work together on bids. You can work smarter by combined to versus just. I'm not gonna do it. He knows more than what it is. I'm not gonna lie. I can't learn anything. Just shut down. And that's what happens a lot of times is as we get older and I speak from experience here, a lot of times we get older, we become handicapped, we handicap our minds. Okay. I always make the running joke that. Maybe not running joke, bad pun there. But if we had to learn to walk as adults, many of us would be paraplegics or quadriplegics because as kids, we learn. We fall down, we get up, we crawl, we skin our knees, we fall down, we cry, mama, mama. Right? That happens to us all. You learn from that experience and you build it and go from there. I've always seen where and this is one of the things that just I wish it overcome. People that are over educated a lot of times aren't pulling the triggers as much as they can. They overanalyst paralysis a lot of times where they'll, I'm going to do it my way. Well, if your way it was working, why would you be calling me? Why would you be signing up for classes? Why would you be training? Why would you be on the phone with me? If your way is working, then you need to be humble enough to kind of swallow your pride and go from there. Look, I've done that, called somebody. Hey, what I'm working on right now isn't working. Can you help me? Can I pick your brain for 30 minutes? Can I talk with you a little bit? That was one of the great things about spending some time out in Orlando at podcast movement was just sitting there and being able to pick the brains of other people I respect in the podcasting industry, real estate industry, finance industry, that were able chance to visit with them and talk about different scenarios, situations and things like that. Things that have happened in the past, things are happening and then also the future of where things are going. And that's, that's the thing I want to tell you guys. If you're listening to this or watching this or downloading this on any of your favorite podcast episode, or listening on our different radio stations, or watching the replay on YouTube or Facebook, I want you to think about something. Where are you at today? Are you happy where you're at? If you're not happy with where you're at, then it's up to you. And ultimately it's solely up to you, not anybody else. Not your parents, not your family, not your friends, not your boss. It's up to you to do something different about where you're at. You can either make two choices. You either start making decisions and start doing things to hit that, or you can just sit here and bitch and moan. And unfortunately, what happens a lot of times is most people will just sit and bitch and moan about things, complain about things on social media or other things. Oh, I can't do that. And they've never pulled the trigger in their life. And that's the most frustrating thing I see out there, is I see so many amazing people doing amazing things and you know, my family's not supportive. They need a shut up check. As I was talking Monday night, I mentioned about having a shut up check for your spouse or your family. And my people are like, oh my gosh, I need one. And I said, isn't that unfortunate that we live in one of the greatest countries in the world? You can still go out and do things. You can still make a name, you can still do amazing things to change your name. We're not based on where we were born or what social class our parents were in. We can go out and really write your own story out there and taking it back. Everybody has different goals, okay? Everybody's got different goals, different timelines. You can't judge yourselves. And I'm not judging anybody for their at. I'm simply talking about the fact that if, hey, if you find yourself very hungry, young guy, another younger guy, maybe a little bit older than the other guy, but if you've got experience, great. How did you get that experience? It's probably because you were mentored. And you, great. Don't call after your mentor and try to nickel him dime down and tell them that he's not worth it. That's fine. Go check everybody else out there. That's fine. And that's the thing that I have a big heart, a big passion for helping people. Always have. I think people know that about me. Our proof is in the pudding of how many students we've helped. The thousands and thousands of investors out there that we've helped out over the last 10 years of teaching. It's hard to believe that coming up in 10 years of teaching real estate investors how to invest in notes, we've seen, we've made our plenty of mistakes along the way too. And somebody was mentioning the other day, says, hey, Scott, I'm glad I can learn from your mistakes. And I would agree to that. I'm glad you can learn from our mistakes too, because a lot of times, especially we've had things that happen along the way that have just been kind of, you know, make it kind of bend over, you know, bend over, buckle the knees a little bit and just keep plodding forward. We're going to keep buying and selling assets. That's what we do. We're gonna keep teaching people out of it. We're gonna keep adjusting our training for what's going on in the market. It is what it is. The market's changing. It's. You're starting to see things like on USA Today yesterday, talked about the recession here, what you can do to recession proof yourself. You know, you have to keep that in mind that we're due for another downturn or you start to see the signs of it. Right? And what you're doing in your real estate career in your portfolio right now is really important. Now, between now and the next 36 to 48 months, what can you be doing? Well, first and foremost is if you've been holding on to assets to sell until the peak got here. You want to sell the peak, you better do it now because the peak is already starting to curve past. Okay. Secondly, you want to be buying cash flowing assets that will cash flow in an up or down economy. Okay? People always need a house to live in. So if you're buying notes, buy them at a discount and make sure that the mortgage payment is below market rents. Okay? And buy it at a discount. Don't be paying above value. And under rehab your properties. Now what do I mean by under rehab your properties. You don't have to go above and beyond with all the stuff that you would use to live in a property. I've seen this happen time and time again, People over rehab. How do I know this? Because I did originally at first in a couple of my fix and flips over rehabbed. It didn't get what I needed out of to it. Okay? So keep that in mind. And then when you're looking at your numbers, rent rates, modification, things like that, you can't count on the best of the best. You gotta make sure and say, okay, what happens if I can get 80% of one thing, 80% of the rent rates? All right. It gives me a little bit of cushion. Hey, if rent's 1200 or 1000, my number's gonna make sense. If I'm at 900 or $800 a month, usually it will. All right. Second thing you want to do is your systems don't overspread yourself. You may want to start narrowing in your focus a little bit. The more you streamline, you're gonna be maybe want to focus on performing notes for a little while, get a decent return on stuff that's going to be continuous stuff on there. Maybe you want to narrow in your focus and maybe not buy in five states, but focus back in a two or three really good core areas that you can invest in. All right, Now's the time to be marketing more than anything else. And that was another thing too. When I was talking to these two note investors, one was all gung ho. He's like, oh, I'll do whatever I need to do marketing mean, I can just send emails out and I can save a ton of money doing that. Great. You mean I got to send an email out? What do you mean? You mean, yeah, do that. If you're not going to even do that. Asset managers don't even be in the know business. You just be in the funding business. If you want, stick to your property management, your commercial stuff, there's nothing wrong with that. I'm not bashing that experience. But if you want to do something new, and this is everybody out there as well, and I take this advice as well, if I need to do something new, I'm going to be reaching out to people that I respect and asking their, asking their counsel. I'm not going to nickel and dime them on their comments. I'm not going to just cherry pick the nuggets that I think I agree with and just discount experience. They don't seem to make the same. And that's a good thing. Don't question that type of thing. People want you to succeed for the most part, okay? As far as I know, just about everybody wants people to succeed for the most part. You know, there are haters out there. There are people that will bash you no matter what you do, whether you're good or bad, male, female, train. I don't care what your sexuality, I don't care what your skin color is, I don't care what your education level is. People are just not going to like you no matter what you do. That's okay. You just got to focus on that. As I said before, the three bundles, the 33% that love you, forget about the 33%, people that dislike you or hate you. And that middle part is all up to you to go in there. As we had Aaron Young mention on the last episode we recorded here a couple days ago, the thing that you also want to keep in mind for success out there for buddy, this is not a difficult business. All right? As far as marketing, very simple. You can pull a list of asset managers and then just email out to them. You can reach out to them on a regular basis. Now, you gotta know what to say, when not to say, okay? You gotta know when to send, okay? And you gotta know how to do it on a regular basis. And for the number one thing that I see from our students that aren't finding deals is that they're not doing. That's the number one thing. They're not reaching out to asset managers. That's the most critical number one thing that they have to do a monthly basis, sometimes weekly. Basis, depending on the time of year and what you have going on. If you're not marketing out to asset managers, you're not going to have the type of success that you want to have. You're going to struggle. And if you want to argue with that, that's fine. That's not saying you can't pick up an asset or two here or there from some of the lower hanging fruit. It's not saying you won't get a lead from a Facebook group. I'll post on LinkedIn. What I'm trying to get at more than anything else is that's the core business for everybody out there. Just so you know, the core business is reaching out to banks. If you're not doing that, not really in business, it's like saying I'll be a downhill skier, but you're not gonna ever put on some skis and get on the slopes. Okay. You know, I'm seeing up there. Hey, Matthew Hale. Good morning. Hey, Donna Nixon. Hey, Donna Maxwell. Hey Corey. What's up everybody? Good to see you guys out there this morning out here. But anyway, thing that you got to realize is that you're going to make mistakes along the way. You're going to, you know, run into issues, deals and you can't avoid that. All right, can't avoid that. You can, but eventually what happened, when you're doing enough deals, you're gonna have some issues that go a little south, drag on longer. Best thing you can do is just keep your head down and keep rocking going on, buying deals, going out and finding more deals going out and marketing more, increasing it for the assets. The beautiful thing that you have to realize out there, everybody is nobody's in your shoes, nobody's walking a mile in your shoes. Okay? So keep that rock and roll, keep plowing forward and what you're doing, there's still plenty of deals out there. I mean, if you look at where we're at in the market wise, we've had so many originations, refinances this year, so many deals that are, you know, homes being built, homes getting refinanced. Okay, that's higher numbers. And we still have a low default rate of about 3%. Default rate, somewhere between 3 and 3 quarters. I don't remember the exact numbers are. But those numbers, if you're still looking at the amount of originations and stuff like that, we still have what, 6 to 7 million non performing notes out there. That is not including the owner finance stuff that goes in default. It's not including the commercial stuff. That's in default. But you have to realize more than anything else out there is there's still plenty of opportunity for you to be buying notes. There's still plenty of opportunity for you to go out and make something happen. So plenty of opportunities for you to go out there and buy deals. And we see that happen. Making it happen, finding deals from banks that I'm not familiar with or sources that I've not dealt with. Somebody asked me that the other day about the fact it's like, oh, hey, are people going to be stepping on each other for deals? And the thing is, no, they're not. Okay, there's still plenty of opportunity out there. When it comes to the amount of deals you're going to see, the amount of lenders that have defaulted stuff, there's just a wealth of deals out there. And honestly, it's more than anybody else has seen out there. That's what I was talking with a wholesaler like, listen, you're wholesaling these deals to people out there. They could very easily be your funding partners. They could easily partner with you on the deal. Yeah, I know you're making a wholesale deal and there's nothing wrong with making a quick buck, but you can still make that plus a lot more by taking the deal down yourself versus just being really, I hate to say this, but just really kind of being an order filler, not quite a server or waiter or waitress, which a lot of times you're going out finding, dealing, you're trying to find somebody to buy that or eat that off your plate. Hey, you're always going to get more interest when it's something that you would take down. You're always going to get more interest when it's somebody, it's a deal that you're actually dove in and you've done the due diligence. You know what the rent rates are, you know what the values are. You're going to know what the two or three major exit strategies are going to be. The more due diligence you can dive into it, the more successful you're going to be because you're going to know the deal. Okay? That's an important thing. I saw this mistake happen the other night where somebody talked about they had deals and just got up and they just read off addresses. There was no talking about what the numbers were, what makes this a deal. Now there was one guy got, hey, I can pick up a ready to go rental for nine grand right now in here, maybe in a rougher area, but I've got it it's ready to go, it's clean. You pay for nine grand. Even the guy that was running the club was like, oh, my gosh, I want to talk to you about that. So the thing I want you guys to keep in mind, there's still plenty of opportunity out there, okay? So much opportunity out there that you just have to do the things that you need to be doing. It's a simple business, all right? Reaching out to asset managers, reaching out to hedge funds, that's going to be your most effective way to find deals. Leveraging LinkedIn, jumping on LinkedIn and reaching out and connecting them. You do something at night, reach out, connect with people. Now, I know that LinkedIn links to limit the amount of connections you can add. If you're brand new with a new LinkedIn profile, that's fine. Jump on the phone, use the mobile app. It'll often let you add more connections out there. Yes, that's a hustle play. The hustle play of doing it. Because it's basically free. All right? The hustle play to get deals and portfolio sente that nobody else is going to see. Why? Because nobody's doing the things that you're doing. Nobody's doing the things that you're doing. And that's okay because that's what separates the 1 percenters. That separates the 1% of people that actually are going to find success in the long run. I mean, I wish we could say that there was 80% of people that come through our workshops, have done an amazing job and gone out and closed. That's not the case. I think it's the most frustrating thing is I was talking to my peers as the people that are doing educating and things like that. We get excited, we see 10% of people success. It's not meaning that not everybody could find success. It's just that most people won't do the things that they want to do. They'll complain about what they've got to do to find success. And that's why they're where they're at today. That's why they're struggling today. Okay? You have to do the things that you want that nobody else is doing. That's how you step out from the crowd. That's how you avoid being another cow that's going to slaughter out there right now. And that's the thing I crack up because I go to. I've gone to so many networking meetings, investment clubs and things like that. And I really enjoy going to local meetups and real estate clubs and talking with people there and helping, giving them counseling to find deals, counsel on marketing, counseling to help them find investors for them to be able to reach out to. All right? Not advice, okay? I don't give them advice. I want to give them actual counsel. Here's the things that we've done. Here's how you do that. That's a valuable thing, okay? I'm glad to share that with people because I want help people find success. Maybe it's not in the no business. Maybe it is on self storage. Maybe it's small apartments or maybe it's in Airbnb or short term rentals or fix and flips. Maybe it's just wholesaling. That's totally fine. You got to pick what you want to pick, all right? That's the most important thing you can do. And the biggest thing you can also do is just set yourself up to realize it's going to take some time. One of the things that when I was talking, when I talked about, hey, especially the Holster site, listen, hey, you're going to have to do what I'm telling you to do probably for six to eight weeks before you start reading, seeing responses. He's like, that's fine, no problem. I can do that when I bring it out to somebody else. But he was like, you mean I'm not gonna be able to find stuff immediately? I'm like, yeah, you're gonna probably find a little bit, but stick with it. The biggest mistake we see investors make is they do one marketing piece, they get a few leads and they stop marketing. So they gotta go back and re dig that well, rebuild the wheel, okay? Get their momentum back up and rock and rollin. That's what they have to do. And that's not always the easiest thing to do. Going back again and again and again. So the thing I want you guys all to realize out there, you can fall into one of those two categories. You can do that or you can fall somewhere in the middle. And hopefully you're doing the things you need to be doing. Not saying you're not going to make mistakes along the way. You learn to learn more from your mistakes than you'll ever learn from your successes. That's a true, true thing. But what I want you all to keep in mind is that, hey, if you hitting a rough patch or you're pick up the phone, call somebody, talk to somebody, all right? It's not always what most people think. It seems out there, the situation. There's often a lot of things that you can do. There's a lot of people out there that your friends and colleagues that aren't going to understand what you're doing on a deal. What do you mean you're leaving the job to be a notice? What do you mean you're going to be a real estate investor? You'll never do that. You don't have that experience. You're not going to be successful that way. And that's fine. Let them keep that mentality. All right? That's the thing. I gave you a good story. Our buddy Wayne Snell, who's closed on a couple hundred deals, one of our most successful students. And Wayne was in the process of leaving his job and he wanted to hang around because he's working at a place, he had some stock in the company and part of ownership, and he couldn't leave for an extended period of time. But his boss knew that he was getting ready to leave because he'd done a great job of building up deals and cash flow that had replaced his six figure income. And that's not saying he didn't have some deals that went south. It's not saying he didn't have some deals, because I remember one time him calling me on a particular deal that he was really stressed out about. I was like, whoa, wait a second, Wayne. It's gonna be okay, brother. You're gonna keep doing more deals. This one deal that you're doing, or these two or three you're doing that you're struggling with, how many more do you have? You got a lot more that you're working on. Great. You've been in this business for a long time. Great As a real estate investor for quite a while. Four years as a note investor. Keep rocking on. But the biggest thing that I love about Wayne is earlier on, he bought some deals that just went south, like a lot of people did during the turn. Okay. And he was able to stick with it and keep rock and roll. Keep rock and roll. Keep plotting. For now, he's. I think he's showing somewhere in New Hampshire with his family. Basically enough cash flow coming off his deals. He's just really kind of enjoying it. Spent a month in Europe hiking the Alps. And the whole thing is his team that he's helped develop and build over time, help them be able to do that. So as I say to everybody out there, don't just sit around and think that you know everything. All right? The biggest thing I can tell you is just stick in your lane. Stick in your lane. Stick to what you're doing. You'll be a lot happier there. Keep focused on what the deals you have to do. Focusing on learning, taking knowledge from others that are willing to help you. And those that are going to throw rocks or stones or just make fun of you, that's fine. Let them do that. Have a thick skin and keep rock and rolling. Because he or she who lasts last, last lasts best. All right. And as I often tell a lot of people that are coming through our workshop, things like that, you're going to be a real estate investor not just for 30 days, not for a year, but you're talking about for a lifetime. Okay? And the beautiful thing is that there's so many different phases to making money in real estate with it. As the market goes up, the market goes down, there's multiple ways to do it. Just keep doing what you're doing, keep knocking out, keep paying attention, keep leveraging your time with systems and marketing and do the things that other people aren't going to do. And you'll be a lot happier, definitely a lot happier in the long run. Entrepreneurship is not a straight and narrow highway. It's ups and downs and left turns and rights and lefts and all that good stuff along the way. Just realize that, hey, we've all got goals and we've all got something that we're driving for. Keep going out and rocking. If you ever need any help, as I will always take my note, nation, my family across the country, pick up the phone, give us a phone call, drop me a message, shoot me a text message. Always glad to visit with you, always glad to talk with you and realize that, hey, you're not doing and going through anything by yourself that somebody has not gone through before. And most of the time, there's people there to help you out with stuff. If I don't know the answer, I'm glad to put you in touch with somebody who could definitely do that out there for you. One of the things that I want to touch base on everybody as we go back to the two conversations I have, I believe both of those guys can be successful. I'm rooting for both of those guys to be successful. When it's the wholesaler, the experience guy I'm reading from both to be successful. Okay things, sometimes it takes a little bit longer. Sometimes it takes a six months of hearing something two or three times. Sometimes it can do it right the first time. I want everybody to be successful. There's plenty of deals out there for everybody to do. Totally. Especially in the notes space. Okay. What's funny is when I was talking to people, people are talking about hey, it's hard to find a good wholesale deal. It's hard to find it. Hard fix and flip, delete, make sense. It's getting kind of skinny. It's getting kind of hectic. It's getting kind of hectic. Hey, you know what you do when it gets hectic? You either got to tweak what you're doing, adjust markets or increase your marketing. And unfortunately happen most of time. There's a lot of people decrease their marketing because they're like, oh, this isn't working. This isn't working. Hey, Rome wasn't built overnight. It wasn't built in a day. It took time to do it. If you're wanting to build something big and something that is going to help you in the long run, realize it's going to take time. You're going to pinch your fingers or stub your toes or skin your knees or get along the way and keep rocking and rolling and just keep plodding forward. One day at a time. One day at a time. And you'll be happier in the long run. You'll look back in three months or six months or a year and realize, hey, that was a brief blip and you're a better man or girl or lady, I should say a woman out there for keeping it real, keeping your head down and keep rocking, rolling along the way. Encourage everybody out there. Go take some action, all right? Be coachable, all right? Listen to people. Have been where you want to be or are at where you want to be, not to those that have no clue what you're doing. And you'll be a lot happier in the long run. So go out, make something happen, everybody, and we'll see you all at the top. Bye, Sam.