EP NNA 109 - How To Find Note Deals In The Market

Foreign 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. Welcome to Note Night in America here. Glad to have each and every one of you. Happy PI Day March 14, 3.14. Hopefully you've all had a great weekend, great week behind you and that you've got an even more awesome kick ass week ahead of you. It's hard to believe that we are now, what is it, the second week of March? Actually moving into the third week of March as we talk about it. Lots of great stuff going on in the markets out there, guys and gals out there. If you're not taking advantage of the opportunities available, hey, that's your fault, not anybody else. So but anyway, before we dive in tonight, if it's your first time here on Up Night America, give me a little wave. Let me know what part of the country you're joining us from. I know we've got people from the east coast to the west coast and everywhere in between. So once again guys, welcome to Note Night in America. We've been doing these webinars dating back to 2011. It's now golly hard to believe. 11 plus years of doing these. You can catch all the previous replays by going to our YouTube channel. It is also the Note Night in America podcast is available. I'm a couple of episodes behind on getting those uploaded, but you can always listen to it and subscribe anywhere that you listen to podcasts out there. And you can always subscribe to the YouTube channel at WeCloseNotes TV. Highly encourage you to do that. It's WeClose Notes TV. We usually are monitoring that for questions as we are streaming live there tonight right now. Make sure and pull that up so if anybody does ask questions I can make sure to answer them for them. But anyway, got a variety of information there for you guys. As always, check out Note Closer show podcast and of course the Note Camp live podcast with new episodes each week. Lots of great information for you all up there. Hey Adam from Frisco, Texas, thank you for being on here tonight. Glad to have you along with everybody else. But ladies and gentlemen, there's a lot of stuff going on. I just want to give you a quick update on a couple things for you to mark your calendars for because we do have some new events upcoming that you'll want to write down. First of all, this Wednesday we're doing a master class on calling banks. That's what you guys have been through our class before. This is going to be an all day thing. It's just not going to be an afternoon thing. It's going to be an all day calling banks blast. I will tell you that we'll be doing it from basically 9:00am all the way probably to 4 or 5:00 clock in the afternoon. This is Austin time, 9:00am Austin time. A little early for you guys out in the west coast. Hey, Kathy Rios I see on there from Santa Ana, California. Great to have you tonight. Hey Fred, tell me. Hey Dimitri. Good to see you guys. But this is one thing we do about once a quarter. This is where we'll actually. You'll be able to be a fly in the wall and watch me dial for dollars basically. Now there'll be a little bit some other stuff that we'll talk about a little bit more tonight that we'll be diving into. But this is an all day zoom training. Basically the master class. Wednesday this March actually this Wednesday starting at 9:00am Central Standard Time. It's awesome. Time to run till 4 or 5 o'. Clock. We will take about a half hour to 45 minute break. In the middle I'll be contacting banks and note sellers out there. People have bought. I'll give you a little bit and what tonight's all about. Giving a little bit of taste of what we'll be covering on Wednesday. But you can be literally be a fly on the wall. You can hear me make the phone calls, you can hear the conversations, you can see who I'm calling. You can see how my research is working to find contact information and that's a lot of folks. You overthink what it is to contact banks or to talk to asset managers and they are just like you and me, just normal people put their pants on. Well some people put skirts on, that's fine. I'm not putting a skirt on but you get what I'm saying. Their underwear on one leg at a time. I would put that. You'll also be able to see some of the emails and scripts that we use. I had an email that went out Thursday. I got a follow up email going out tomorrow already pre scheduled to a couple thousand asset managers. You'll be able to see it and that'll be one of the ways that we actually utilize our hot list. Pick up the phone. Normally it's a 199 cost for this. If you sign up before Wednesday morning, before midnight Wednesday morning you can get it a half off. And so it's a big discount for you. If you go to callingbanks.com or let me type this in the chat roll for you. This is something you want to take advantage of now. If you're part of the WCN crew, our $97 a month program, this is included already for you. If you're not, trust me, it's probably something you're going to want to sign up for because we've got a lot of great stuff coming down the pipeline as far as classes and other stuff that can really save you a ton of money. But anyway, link in the chat roll there. If you're watching live on YouTube, you want to go over to Note Knight in America.com and get registered in there, we'll have that link there for you. But bitly callingbanks MC is a link. Take a screenshot of that. If you go to that link before midnight tomorrow night, it'll still give you the half off there at 99 bucks a pop, but you probably can save a little bit. So I just wanted to share our WCN members and some of our folks are coaching students reached out and I asked them, I said okay, what are you looking for? I know a lot of people enjoyed the wholesaling notes class that we did a couple of weeks ago. We're doing the Calling Banks Asset Masterclass. We've got a couple of weeks put together and I will tell you this, it's going to save you guys a lot of money and this stuff. Not only do we have our normal Saturday class or note weekend class or one day class that's coming Saturday, our next three day workshop is in the end of April. Just to give you a bit of an idea what we have. Obviously we've got Colin Banks class taking place this Wednesday. We've got our note weekend class Wednesday, April 2nd at the Saturday we're into a masterclass on due diligence. I will spend the full day going through from start to finish how we break down due diligence on an asset, on the collateral, on the borrower, looking at an owner report, a BPO report, looking at a bankruptcy pacer.gov report going through the assets that once again, if you're interested in that, drop me an email and I'll send you the link for that. Once again, that's at half off up until right beforehand. Our next three day virtual note buying workshop is April 22nd the 24th. Only 997 still running at 50% note buying for dummies.com then we have our masterclass on marketing notes. Marketing. Some people I've been begging me to do this. I'm like well I don't know if I want to give away my secrets when it comes to marketing for capital for deals. But we're going to do that. That's going to be May 7th. I said normally 199 after that we have big event that people are really, really excited about. Raising funds. Master class. We'll share with you the scripts, the sample deals, the actual letters we send out, the postcards. What do you say? We'll do some role playing, an agreement or two. It's a master class that will not be discounted. That will be 3.99. No discount for that one because there's a lot that goes into that. Everything else will be there 60% there for you. But that's a masterclass on June 18th. And of course we have our major conference in July. Note 2022. All that little guys and gals is over about $2,000 in classes that you can break it down and get it for just 97amonth. If you want to sign up for our WCN membership@noteumbrella.com that includes the replays that gives you access. There's no additional cost for you guys to sign up. You get access to all of our online training for $97 a month. If you go to note umbrella.com biggest bang for the buck out there. But for you guys are WCN students, this is all included for you. $97. I can't save you or make you $97 a month. I'm doing something wrong and tonight I'm going to show you some great stuff that you're going to love. We had a great call Monday at noon with our WCN members. Our Money Mondays coaching calls for those folks. It was a lot of fun today. I'm going to blow your mind. Some things that we've worked on this afternoon. So but anyway, let's get into the meat and potatoes. No answers. Any questions about what's covered in a lot of this. Like I said, we've put these one day masterclass on those five subjects. We may add a few more throughout the rest of the year but that's a bit of an idea. The schedule up till Note camp in July there for you. So lots of great stuff for you. Anyway, let's move on here but let's get into finding deals the meat potatoes of tonight's call. And I want to thank you guys that are on here tonight. If you're live on Zoom, those that are watching on YouTube as well. For those that watch the replay, you're going to want to pull out a pen and paper. You're going to want to take some notes. You want to go back and watch this again? Because I've been working on this today, was working on this last week because this is such a valuable thing. It all starts with finding deals. Some people get worried about, oh, I got to raise the capital first before I go out and look at deals. That's so wrong. Now, we had our buddy Joe Block on last week talk about raising capital and having a fund. So you've got a pool of money to go buy. Yes, that makes a lot of sense. But what people want to see when you're starting off is you got to have some experience. You got some deals they can look into before they're going to write a check to you. Theory is great, but theory doesn't pay the bills. Theory doesn't put food on the table. You got to have a deal with some meat behind it, some background. Maybe it's not your deals, maybe it's somebody else's deal, but you got to have some deals to take a look at. And that's one of the most important things we're going to be getting into here in a little bit. And look, before we get into that, it's a different world than it's been. And what you have to realize, ladies and gentlemen, no matter what has gone on, it's your fault. What, the war in Ukraine and Russia is my fault? No, that's not your fault, Covid. Is your fault. No, it's not your fault either for that. Okay? But what I mean by this is, ladies and gentlemen, we are all responsible for where we are currently at as of today, okay? Wherever you're at, if you love your job, hey, that's kudos to you. If you hate your job and you want to do something else, that's on you. You all have to take accountability for our actions or lack of action in a lot of cases. Because if you don't make a decision, somebody else is going to make that decision for you. We all know that happens, right? And tonight about finding deals, it comes down to the actions that you take. You're all the sum of the decisions or the lack of decisions we make. I'm where I'm at today because the decision I made, both good and bad, you're at where you're at today because the decisions you make, good or bad, you have to roll with it. But what's beautiful about the United States, where we're at right now, is that you have the option no matter where you're at, whether you're a 46 year old crackhead like Samuel L. Jackson was years ago struggling with heroin, to where he's at today 20 some odd years later as one of the best actors out there, or you know, you look at all these other people out there who've overcome obstacles. I don't care how old you are or how young you are, you have the opportunity to make different decisions and go where you're at. Like I said, if you don't like where you're at, only you can change the trajectory you're on. If you're not happy, change it. We love this word. One of my favorite quotes, whether you think you can or you can't, you are correct late Henry Ford. And if you think you can't find deals, that's on you. Yeah, sure, you can't. All right, now I'm be a little fired up tonight. So you guys like it when I get fired up. But I have gotten responses from people and seen some of the different things and there's a lot of the different summits going on like DME and I asked and I am in and all these other ones and I always look to see who the speakers and I look at the topics and the thing that aggravates the crap out of me, just pisses me off is that there's number one major thing is lacking from them and that's showing you how to find deals in 2022. Now honor the days of the list. I mean when I first started back in the business, there weren't like list services, there weren't funds that were buying them in bulk, cheap and turn around and sell them. They just didn't exist. I had to go out and find them on LinkedIn. I go call banks. That's why I still do this today, because it was like, oh yeah, if we got a list and that's great, but it used to be 80%, 90% of my deals that I found were from basically sweat. Okay, calling banks, tracking asset deals down. But now people have gotten fat and happy or lazy off of list sellers over the last five, six years and so much so that they're not willing to teach people how to go do that. They talk about theory, they talk about bankruptcy, they talk about foreclosing and state laws and they're all worried about licensing but they're not going out and showing you out there. Now like previously you had granted loan solutions which came in gone. Now it's Revolve Capital trying to sell their overpriced. It's not discounted. Direct source has been closed. They're big on contract for deeds. I talked to John Keith on Thursday. He's basically shut down things until things change. And we have a big fallout. As he says he's out there building storage container houses in the ground. Okay. Watermark Exchange. My buddy Val still has his website but he's not really doing anything out there. You have dream Builders out of New York which is just shady as hell. And they've said they have something but they never seem to be able to provide a list. Okay, Petition has been closed for a little while out of Salt Lake City. We used to buy a lot from. I mean there's a lot of funds that have come and gone and then you look at what's like somebody else. Well, what about Colonial? Well we all know that stuff's overpriced. Even if you triple platinum, you're still overpaying for assets. And other people tell you you're too. No, but the banks won't sell to you. Well that's a bunch of. Because the banks will sell to you. Okay, you have to do in 2022, you gotta pull out your gun, your knife and you have to go out and hunt and kill on your own. You can no longer be spoon fed like a little baby. Where. Oh, I'm gonna get on an email list. I'm gonna get a list of assets that can be. Now don't be wrong, there are some of those lists out there, but we all know they're still overpriced. You've got to figure out how to go out, find, hunt and kill in today's world. Now this is not meant to be difficult. It is not a difficult. You just have to change your approach and your marketing. But let's talk about what's available in today's market. Well, you've got slim pickings on some platforms and this is cracking me up. There's a platform out there that sponsored event and I went to their platform. I realized there's like a hundred assets maybe at Paper stack.com and 98 total notes on them. Like oh, that's in a lot of them are old. JKP has maybe 100 and over a third of them are over like three months old. Some dating back to last year. Okay, Deb Expert. Oh My God. They were all worried about getting people proofed up. That's a joke of a website. Their stuff is on jkp, it's on paper stack. There's not really any deals on there. Exchange that loans. My buddy has deals but he's not listed on there. He's got one available on there because he's been busy working with his buyers list. SN Servicing. Gotta love sn David. Polio is a great guy, but we all know it's overpriced stuff in a lot of cases because they're doing one off and you're not getting a lot of transparency. There's been times I know that I was the winning bidder and I still get the bid accepted, which aggravates the out of me. Okay? So I don't know about you guys, but I'm tired and hopefully you've been tired of this for a while. Like I have. I'm stopped worrying about platforms and going in bid there and going direct the sources. Okay? Now I talked about this earlier. There's these different events and I'm not opposed to going out and networking and going events. I like going to conferences. I like going to stuff like that. As long as it's something unique and valuable. When you look at the speaker series, you look at the schedule, it's the same core people and it all looks like the same exact event. Same incestuous event with the same speakers, the same content. And you know what? They're not sharing where to find the deals. They want to hold you hostage for this. This aggravates me to no extent. All right? This bugs the shit out of me. It might also be the reason I get so vocal about it. Because when I have spoken at events in the past and I've turned events down because I'm tired of the same they pull. They're there mostly to get some information and upsell you're selling a crap. That's not what we work. Look, there's. Yes. Has the competition gotten a little bit steeper? Yeah, it is. As price has gone up a little bit. Yeah. But there's still plenty of opportunity. You gotta know where to go out and find new blood and new deals. And that's what this is all about, ladies and gentlemen. Okay? I have not seen any good or real deals on any of those platforms. Well, Tony, we have seen some. We've used those platforms as ways to find other deals, find other sellers or find bigger deals. And we'll talk about that in a little bit. I'm not going to give away anybody's secret sauce here. But I will share with you. If you take some of these and go and research them, you'll find one deal may lead to six, one deal may lead to a dozen, one deal may lead to a much bigger portfolio of things. And I'm just talking about these, I'm talking some other places there. But you have basically two choices tonight. You have two choices, all right? And you maybe you've seen this movie when you tell me what movie this is, right? It's the Matrix, right? Original one, not the new one that came out, but the original Matrix. Okay? And you have that red pill or blue pill option. And you have two choices tonight. You can either take the blue pill, continue to just bitch and moan and whine, and there aren't any note deals and just rely on those platforms. If you know that there's no deals on those platforms for the most part, guess what, you can either sit there and keep moaning or crying about it. There's no deals. Look, there's no crying and no buying, ladies and gentlemen. So that leaves you the other option. Can you take that red pill? If there's red pill, I want you to come a little bit further down the rabbit hole with me. I want you to stay in Wonderland with me here tonight and go from there. But if you don't want to do a little bit of work, you're just going to. You're lazy. Just take the blue pill, go back to your, go back till it turn this off, unplug it, go watch tv, go watch March Madness, whatever you want to do. But I encourage you to stay in Wonderland with me a little bit because there's some things here. For those of you that are core, that are really serious about doing some things, there's opportunity and you can change your whole outlook. You can change the whole opportunities available to you. So let's run some basic math here. The first thing that people tell me, there's no deals, there's no distressed notes out there. And when I hear that, I just laugh because it's so asinine to say that. If you look at the total number of outstanding mortgages in the USA today at the end of 2021, there was 81.2 million loans outstanding with some sort of balance on it. 81.2 million loans, okay, that's a lot of mortgages out there. I don't even know the dollar amount that I didn't want to put that in there. But 81.2 million individual loans with some sort of balance now, current default rate at the end of Q4 last year was 4.65. They say it's going to be somewhere between 2, 3, maybe. Who knows what's going on when all the benefits elapsed from unemployment stuff for that. But right now it's at 4.65%. So just under 5% of all mortgages in the country are in default and by default. That's not one monthly, that's at least three months late or more. Okay, 4.65%. Well, that doesn't take a math scientist. It takes a basic easy calculator. When you run those numbers, 81.2 million times 0.0465%, that comes to 3.78 million loans default. 3.78 million loans in default. Now, by all means, Back in 2010, we had 15 million homeowners underwater where they owed more than the house than it was worth. Default rates was obviously a little bit higher, but right now that's still almost 4 million or 3 and 3 over 3 and 3 quarter million loans that are in default. That's not 30 day behind. That's an even greater number than that. That's a lot of opportunity. And how do you find those deals? Well, you've got to do something different than sitting around waiting for an email, going out and networking an event with 100 to 200 people at it the most. You got to go differently. You've got to go further upstream. You've got to take a different approach to prospecting. And you got to go where the note holders are at. Okay. Got to go where they are, not where people want to be. You've got to go further upstream, close to the sources to make things happen. First list I would go to. If you're looking for something to go where the obvious distress, that's our. What's that? Look at your foreclosure lists. Okay. If you're in a county that has a lot of foreclosures, go to that county. Or in a state where there's a county with a lot of foreclosures, go to that county and buy the foreclosure list. Like here in Texas, we have the Roddy Report. We've had Jack Zagunis from foreclosure listings we saw before here on Monday night last year, the year before, talking about it. And they provide a list of roughly about 80%, 80, 85% of the counties here in Texas. Texas has the most counties of any state, obviously, because we're one of the biggest ones. But in Travis county, there's only 49 properties listed. Foreclosure. I would not go to Travis county, where I live, it's overpriced. Said I would go to Harris county, which is 490 some odd defaults. I would go to Dallas with a couple hundred. I would go to Bexar County, San Antonio at 250, go to a place that's a bigger community. Most of these foreclosure services that provide lists will give you a rough number. They're not going to say, oh, it's a dollar, you know, it's 80 bucks for one listing. No, you need to go and find out where it's at. Then what you do, you contact the banks, you contact the trustee. We'll get that in a second. Now the second place you can go to is go and look for at current note buyers and seller. Now what I mean by that, I mean literally going and doing a research for the assignment of mortgages at the county records. Now, I've talked about this before. Don't log off. You heard me talk about this. A couple different things we're talking about. So that's one source, going, looking, just doing a search for assignments in the last 12 months, last six months, last 24 months. It's going to give you the person who's the assignee and assignor or the mortgagee, the mortgage or on that stuff that you can basically you have two people, a buyer and a seller right there. And that's a great way to track down the list. We used older lists. Tony mentioned something that we used a list to find out who would own this note on one of the platforms and realized it had been sold three times. We found the new buyer which wasn't listed and then contacted them or the new owner of the note and they turned out to have eight notes available and more. So how do you find the assignment of mortgages? You go to the county clerk, recorder's office. You look for document type assignment. Then you can also, like I said, go to past note buyers and sell it. Not just current in the last couple months, but you go back like five years ago, four years, five years ago when there's more inventory in that case and do the same thing. Look for those that bought or sold notes back then. You know what you do with that? Go and look for them. You look, see if they're still in business. You look on LinkedIn. Same thing if you've gotten tape. If you've been around a little while and gotten some tapes sent to you, whether they're from Joker Brokers from direct sources. You know what I would be doing, which is what we are doing is jumping on, looking at who bought those notes by going to the county recorders, seeing who the lender is on these. Now if the note's been sold again, are still in place, and then you know what, we work our way backwards and start contacting the people that are the bank on these new or these older assignments to see if they have not only one, but see if they have the others. And that takes a little bit of time to do. But looking at old tapes kind of digest. If you got a tape in from direct source, you know, two years ago, going through each asset and look. If you got tape from Colonial, going through and seeing who they bought from or see who they sold those assets. If you got taped in from SN or Condor Capital or Granite or whoever it might be, look to see who they bought it from, but also who they sold it to. And that gives you a variety of sources to reach out to. Cause here's the thing, ladies and gentlemen, most people aren't doing anything. They're sitting around complaining. You can either sit around, complain and you're going to get worse because the economy we know is going to get worse. Inflation is going to continue to thrive, increase throughout the year. You have to do something different. So you got to go. That's one way of doing it. If you want to spend about 30 minutes of work to find other sources, here's something that I accomplished today in 30 minutes for you from start to finish, go to the past conferences. Look at some of these conferences, will list who the past attendees were. Maybe they don't give you the name, let's say the company name. You can look at like Bank Special Asset Manager conferences. There's a whole bunch of Mortgage Banking association conferences across the country. There's special servicing conferences where companies are sponsoring those old sponsors, previous sponsors. Go there and pull that list and start searching for them. Like imn, which is going on right now, today and tomorrow. They give you the past registrations, company name and titles. They don't give you the first name, last name or emails or phone numbers, but they give you the company registrants and titles. And what do you do? Guess what? You go to imn, they have the bank Special Assets, they have east and West. There's 278 potential contacts on there. Bank special assets, 79 for one and 200, 201 list and 78 in the second list. That's stupid. You can literally go to LinkedIn, copy the name. I'm sorry? Copy the title and the company name and you'll find people. How do I know? Because I did it. I found sources that way. I found deals that way. Same thing. Defaults NPLs notes and defaults overseeing 456 potential contacts. If you look at last year's registration list, there's a lot more. On that same thing, you'll find deals. We uncovered several lists today that we'll be getting in on the next 24 to 48 hours to take a look at. Like I said, they give you a job title and a company name. They've done all the work. You don't need to spend the $500 or the airfare and the hotel fare to eat crappy food. Go out there and dress in stuff that you don't have to do. Yes, get me wrong, it's nice to network with some people, but I'd rather be making money. I want to work smarter, not harder. And if you don't want to travel, guess what? You don't. You can be at home jumping on the Internet, jumping on your phone and doing this type of research to help you find it out there. Okay, here's the thing too. Western Secondary Conference583 attendees, names, company title and email. Today I found in less than five minutes I found a full page, eight pages of company name. The person that went their job title and guess what, their email address. Eight pages, 508, 83 attendees. That's a pretty valuable list for free. Why would you ever want to jump on a plane when you can do all the work right here? From the comfort of your own home to. You can be, as I like to say, work mullet. You can be professional on top and basketball shorts or whatever on the bottom there for you. Okay, that's your work mullet. That's. We uncovered this in less than 30 minutes of work for you guys out there. No, we're not sharing that tonight with you guys. Our WCN crew members. You know what? You'll get the list. Our one on one coaching students. You'll definitely get that list of 580 treatment. You know what, here's the big thing. Most people are lazy asses. This is what bugs the out of me, okay? You have people out there who are aren't even prospecting. They're selling some Nutri Slim thing or they're selling something else. They're not actually going out there and physically doing the work to find assets. And this is the most frustrating thing. If there's some folks that are watching this I'm talking about you. But here's the thing that aggravates me. Most of these speakers out here aren't contacting banks or emailing asset managers. They don't even know what the hell to do because they don't do it on a regular basis. And it is the number one way still to this day, contacting banks, either through email, through a phone call, or through LinkedIn to find the best deals out there. And I want to ask you guys here, I already know it's a very, very sad percentage, but when was the last time for you guys that are watching this or watching the replay, when was the last time you actually emailed asset managers? When was the last time you called banks, picked up the phone and bowed for asset managers? And it makes them doubt some of you are doing it. I see some folks on here, they're doing it, have done it in the past. I get it. Love you. Linda Martin, I see you on there. Laura Miller, Catherine Bell, I know that you guys are Demetrius doing this stuff. Yeah, good, good. Anthony Hill last week, Larry Hoffman did today. That's what's great about it, you guys. Some of you are doing it. I don't find fault with it because I know, because you're students of ours, this is what we do. This is what Wednesday is all about. With that there for you. Okay, when was the last time he jumped on LinkedIn and contacted Asset managers by doing the search there? Some of you are doing it, but you don't want. Overwhelmingly, most people aren't. I would say less than 1% of the note investors out there, less than 1% are doing this. And those are the ones that are finding deals. Those are the ones that you're going to be better off. You're going to be a better source as this world changes. And it is changing out there. Okay, for the speakers out there, all these people, they're not sharing how to find deals. They're not going to share with you how to find it. Why? Because they're not doing it. Then that's the secret sauce. That's the A1. That's the slap your mama. That's I put that on everything kind of sauce. Okay? That's the secret sauce. And what do I say? How do I do it? And what I don't say and how often you do it. You can't just do it once. Expect people to follow over with their list up in the air. It is a process. Okay? Why aren't people doing it? Because most people are spoiled and lazy and not Willing to put the work in. And here's the thing, you deserve the truth. You deserve the God's honest truth. That that's where the deal's, that's where everything comes from is from the banks. Those that have bought little assets or have lists, they got em from a bigger source. They got it from a source up the street upstream. It takes over five touches to close a deal. If you've made one phone call to an asset manager, guess what, you've got four to seven more times to do it. I have to give a big kudos to Larry Hoffman on here. He had on this, he got a list in of due diligence and just recently signed a contract. But Larry, how many times did it take you to talk to Brooke? We're not going to say asset manager, name, full name or what company. But how many emails did you send and how many phone messages did you follow up in two weeks, three weeks period of time? I want to say it was at least a good dozen. 15 times. Okay, but you got a deal that what you got performing notes at 60% of UPB with equity. You've got an amazing deal that you're going to take down that's you know, just under a quarter million. That's going to put what, 100 grand your pocket. It's going to put in 30, $500 a month in cash flow for you big time. All right. Because you followed what we told you to do and followed and followed and followed. Okay, William. I see William on we close notes.com is the main website but it takes you following up with the leads by leads. Those contacts you got people you got to realize, ladies and gentlemen, people are busy. You gotta follow up and follow up and follow up and do at least five times, five touches. And I give you a great example. Kathryn Bell. Catherine's on here. Nope, not on here tonight. She's gonna make over 200 grand on one deal that came from following up with a hedge fund. Originally the hedge fund said no, I don't have anything. They add them to the drip list. The drip list. She followed up, followed, they came back. Well, you know what? I actually do have a couple notes that I'm willing to sell. We're closing out the fund. So she does have something. Even it takes a year to wrap up that deal. She's made 200 grand. How many of you guys would hang around for dealing, make 10 phone calls and take a year to close on 200,000? Some of you would. Most of you wouldn't. Most of you wouldn't okay. Hell yeah. I got to hear him. Talked about Larry Hoffman closing eight deals from one source and then he has another 40 pending offers off of a same source. And followed up, followed up, followed up as well. Really excited about Larry Tune got Mary Lee Killstadt. I don't know if she's on here out of St. Petersburg. One of our newest students out there following up. She's using distress Pro and LinkedIn and calling and calling. Well, she got a nondisclosure, not the first one. She's had multiple non disclosures signed couple of deals that came in but they weren't, they were too expensive or too high. But she got one now today with 23 houses and notes on it that she can take a look at. And she is so excited. I'm so tickled for her as well. And what she's doing. Guys and gals, you just gotta follow that system and reach down. The reason you don't hear this talked about at events is what? Well, people don't like to talk about marketing. People want the lazy list. I get it. But those lazy lists aren't really there. They're picked away. It's like Africa in the end of the summer. Okay, all that lower branches are all eaten away. You got to go higher up in the branches. Gotta have an eight foot long neck like a giraffe to get up there still where all the other animals haven't eaten. And there's plenty of other animals out there that will are lazy. Oh, I just want to lay. I'm not going to do any work. I don't want to have to go. I have to make a phone call. What? I got to send an email. I look back here, 90% of the deals we've closed over the last 15 years have come from contacts most investors did not know. About 90% of my deals have come from not those lists, but literally reaching out and making new contacts, creating new lists, creating new points of contact, of deals going that one step further, that one phone call, that little bit of 5% extra that you have to do to find really good deals. And this has been something that. And I get it. Not everybody's as crazy as me. Not everybody's as bulldogged as me. I get it. Not as many people are as big an asshole as I am in some cases. I just know that you guys, I show up here every Monday night and I love that. It's one of my favorite hours of the week is coming here on Monday night. I get excited about it, but I want you guys closing Deals. And if you're in any other type of job, whether you're a realtor or mortgage broker or a fix and flipper, you're working another job. You got to show up, you got to keep going out and reaching out for deals. You got to go up prospecting. People are just not going to walk in these days. And that's the same way here going. I went to this conference, they're like, there was no sources. There was one source and they were crap. You're going to see that again and again because these guys that have sources are gals, the banks, lenders, institutions, portfolio folks. They're not going to go to 100 person conference. They're not going to go to a small no conference. They're going to go to the bigger conferences like we talked about. Where should you begin? If you had to start, this is where I would talk about. You go first to your foreclosure list. And if you're investing in a county that's not near you, guess what? Call the local RIA club. Call the local investor club. Hey, is there a foreclosure list that comes out in that county? Who provides that? Who sells that list that I can buy? You can go to foreclosure.com in the worst case. Okay, and then what are you gonna do with that list? Well, you're gonna call, call the bank, jump online, find somebody in special assets to call on or call the trustee, call the foreclosing attorney's office if it's a smaller company and reach out to them, say, hey, would you mind passing on to the seller or to the owner of that, the bank that I'm interested in buying their note and anything else like that. Second thing, it just takes a little bit of while you can do that. You can actually email folks or reach out people on LinkedIn off hours. You can definitely do part B here. Assignment of mortgages in the Same counties past 60 months for buyers and sellers. You can do that. Off hours 7pm to 2am okay, you can contact asset managers on LinkedIn. I'm not talking contacting hundreds of them because we know LinkedIn is really narrow down their algorithm. But 20 people per day, you're all capable doing it. That's 100 people a week, that's 400amonth. That's almost 500 asset managers in a year. You all can do that, ladies and gentlemen. I'd say that's over 50 weeks. Times 100 is 500. Sorry. Pulling contacts from past events and then searching on Google and LinkedIn. Oh, I love doing this. This is one of the greatest things that we have found speakers for our podcast or sponsors or stuff like that. Companies that are paying to speak often will have resources, relationships that can refer you to people in the business or they may have some deals as well. I would look back at some of the bigger conferences, not the smaller ones. Okay. And reach out. Same thing. Reach out LinkedIn, make a phone call, send an email, and guess what? Rinse and repeat that. If you make a message, leave a message in an email this week or if you leave an email this week, on Monday, follow up with a phone call in four days. Give folks 24 to 48 hours to respond. Don't give up. I don't tell you how many times I've talked people off the edge. Oh, they're never going to send anything. No. Give them a couple days and follow up in 48 hours or three days. Just give them some time. People are busy. You got to have a little bit of patience. And that's what people struggle with, is the patience. I'm sending an email. You mean they haven't opened the email? They even pull the list for me already. Doesn't work that way. You have to realize that people live life just like you do. So let me show you something here. I love to go through this and show you how to tap it. I'm not going to go through the foreclosure list. That's pretty easy to do. What I'm going to do is jump on a county or two and we can do some AOMs, do some AMM research for you guys and show you how we use the county records. And we'll do our own search to find buyers and sellers. Because part of every assignment of mortgage, there's an assignor and assignee and you've usually got the address above this. It's pretty easy to track this down. Website, main website. We're going to use this Netra online. It is a free website. Most county recorders are free to search in. Does not take anything except some of your time and patience. And also what I love the fact too, I think is Larry is using and I highly recommend this, using a VA to go out and research some things. So while you're working, you could have somebody doing it for six to ten bucks an hour doing a lot of work for you on the time. Okay. The great thing, like I said in the assignments are always going to have an address. There's going to be a person signing off on the assignment. That could be also your point of Contact as well. But before we pull it up, just a quick reminder. If you're interested in the master class this Wednesday, calling Banks really go to callingbanks.com should take you straight there or the Bitly link and get registered for it. Like I said, it's normally 199. It's half off. Sign up your WCN crew member. You're already included in that. The link is already in Basecamp for all of you. Once again, guys, this Wednesday from 9am to 5, definitely want to be on that masterclass. We'll go through some good stuff for you. So any questions before we for the last 15 or 20 minutes here, before we jump in on the county records and show you how to pull some list of assignments and how to really research that stuff. Any questions? No. Stupid question. The only question is stupid is the one that does not get asked. Okay, so there you go. Netra Online, netronline.com basically is a great website to help you find public records of every county Tom in the country. And let's do pull up a popular one, Harris county for Houston, Texas. And I also like to track Orange county for Orlando is one of the biggest growth. Biggest areas have been growing the last couple years. So let's just jump on Public Records Online. Hit the button there. Access Public Records Online. And what you want to do is you want to look at the county that's very active in your state or the state that you're invested in. I wouldn't necessarily go in like here in Austin where I live, because it's just overpriced. And yeah, there's stuff being sold, but there's all newly originated stuff. I like to go back a couple years if I can. But we'll show you. Let's just jump on here and make it simple for you. So we go to Florida. Click on the Florida map there. Scroll down to Orange. Because if you're looking at one of the most active counties in your state, they're going to be active everywhere. So not just in your backyard, but all across the state and other states as well. So there we go, Orange County. Click on that. And there we go. We go to the Orange Comptroller. That's the recorder's office. Sometimes it'd be the clerk. Or we'll click on the Go to Data Online. Yes, I accept the disclaimer. Most of them will ask you for disclaimer. All right, now let's hit document search. All right, so let's just say for the last. Let's do from 01012021 to there's a lot. Let's do just three months at a time. So 03012021 we're going to look for over here. Got to make sure because a lot of times they'll make you check to look at everything. And we want to check boxes to specify or search specific document types. Let's go to assignment right there. Okay, so we're doing a three month search for assignments and we're just going to search. We're not going to put a party in there or nothing. And there you go right there, right off the bat. Corvest American Finance Depositor, Core Vest Purchaser Wilmington Trust is there for you. And then Corvest American Finance, Brandywine Dubstrad Homeowners association, the popular bank. Okay, click the bank of Tampa and Colwill Apopka llc. Let's just click on here and let's view, view the images. You're going to have to do a little bit of work on this, but that's okay. So we've had three clicks and we're opening up the document to view it here real fast. And this is assignment of rent. Okay, so this is something Assignment of rents. We want to look for assignment of mortgage for the most part. But you can see they signed the rents over this. There's still potential for you to find on a commercial deal. So you're between Colwill Apopka LLC, a Florida liability company whose address is 4750 East Adamo Drive, Tampa, Florida and the bank of Tampa. Okay. Grantor hereby signs and grants of security instruments into there. So basically sold the assignment of rents to the bank of Tampa. So there you go. Who would you call? I'd call the bank of Tampa right there. That's who I'd call. I'd also call Colwill Apopka llc. Same thing. I would jump online and let's look at that Tampa. Let's see who signed off on this. When I say who signed off, oftentimes there'll be a signer on the bottom down here. Manager. So it's Charles Colwill. All right. Coldwell Apopka llc. I wonder if we know the spelling of that. Coldwell Apopka llc. So let's do this here. Let's go over here and do new share to LinkedIn. Colwill Apopka a P O P K A. Let's look back at the name. The name was Charles C. Changes the same. Charles C. Tampa, Florida. Colwill Engineering. That's probably it right there the bank of Tampa and probably won't have it only has 132 but anyway Coldwell Engineering there's a company name I bet we could find a name contact information from Coldwell Engineering call from there. So that's why I would call all right, where I go to the bank of Tampa and do the same search say hey, so you bought some stuff. Let's go back here to our search here for you. Okay that was just one Corvettes Purchaser two and view the images Simon of Security interested Karen Wade Prepared By Tim Murray os National LLC Delaware Limited CAF borrowers GS LLC There you go. Porvis for $511,000 Adam asked a good question. So do I prefer small banks? Yeah, you're not going to buy a one off note for bank of America Chase Citibank if you see them, just go past them. But the same thing, the bigger banks they're not gonna sell you a one off note but these may very well so there you go. Paul Basmation as the authorized signature for CF Borrows GS llc. Let's go back and take a look at some of the other things here. I want to find where it says actually assignment of mortgage. Let's go down a little bit here. Let's look at this one. Specialized Loan Servicing. Let's view the images. Simon of mortgage perfect. MERs as mortgage inheritance signer so there's Scott Slage was done in Pennsylvania Chad Ancon there's the APN tells you the property this was done. Yeah. A grant transfer into Specialized Loan servicing whose address there's a certain mortgage dated June 2008 minutes executed. So the ad. So yeah loandepot okay, so loandepot.com and his successors. That's what it was. So it was basically Loan Depot is selling this note or MERZ is selling it to Loan Depot something $116,000 mortgage. There you go. Now let's go back and look at another one here real fast. There's a couple sources for you. Blue Green Vacation those are timeshares. Let's look at this one. This is probably all hard money loan Lima One Capital. And I know cause Lima One Capital is a hard money lender but they looks like they did an assignment of something of leases and rent. Yeah it's in A Commercial Property Lima One Capital 3909 Signal Hill Road, Orlando Florida yeah. Simon of leases and rents There you go. And let's see who signed off on it. Center for SJTK Enterprises Affordable Canol Joseph Member There you go. And that's what you have to do, ladies and gentlemen. You just search through this. Tells you what. Lima One Capital. Selling some notes. They're odd money lender. They'll sell notes. Transfer them over here. Let's keep moving here. There you go. 1846 Garrett Torset Terrace, Orlando, Florida. There you go. Right there. There's the property that was assigned on it. The whole idea here, ladies and gentlemen, that's not a bad looking property. Right? And this thing is not to really go after this property. Yes, it's great. But the idea here is Commerce national bank of Trust is who we want to go after. Commerce national bank and Trust. Lisa Warrington, she created that assignment of bank. She signed off on this too. Brian Stevens. And so they're the ones that basically sold this over to them. Okay, but you get what I'm saying? Do you see how this is? You're literally finding assignments, you're finding them. It's just my reach of hey, what else do you have? Are you looking to sell anything else? Anything else on your books? Okay, what does Larry say here, Give a man woman a fish and you feed them him or her for a day. Teach a man woman to fish and you feed them for a lifetime. It's got the stuff you teach is absolute gold, guys. You just do they selling you doing this stuff for it does work because that's what we do. So that's what one of the things I would be doing. Guys, this is not difficult. You could do this all across the country in your area. Just pick the active counties, active cities, biggest populations. If we go back here to our search and we go back to return to the search on this stuff, there was 1838 items in just a three month process. That means they're going to be over 6000 assignments to look at and just are landing in one county alone there for that for a full year. Some will be busier, others will be a little bit more. But that's the thing, guys. If you just look at this stuff. Oh wait, here's one. Oh, that's Blackstone. Here we go. Regions Bank. We've bought from Regions bank before. Leases, rents and profits. Yeah. By Universal iDrive LLC. Assigner, whose address is called Assignee, whose address is. There you go. Regions Bank. 2,700,000 and no dollars. That's the purpose of that. So that's a $2.7 million mortgage on that. And let's see if we can't see who signed off on this Universal Idrive. It's Rika Nandana. I don't know. Nindada of Olulu. Sorry. Rekha Nidad Avulu. I'm silly. Butchered. But you get what I'm saying. That's a pretty unique name. Let's see if we can't find that name on LinkedIn. Probably not. All right. Well guys and gals, that's one of the best ways you can find deals. It's not difficult. That cost me zero. Actually, that cost me a little bit of time to look through those individually. Making a list. You can do it off hours making your list and then you know what you do? One day you pull your list, the next day you jump on LinkedIn or you jump on email or you make up a phone call when you have some time systemize your list. Like I would not be calling banks on Mondays, it would not be calling on Fridays. But you know what, those are great days to take what I just showed you. Create your list, 20 to 50 potential contacts and reaching out and rinse and repeating and rinse and repeat. Because it's not just chasing the asset that's there in that one county. It's all the bank's assets all across the United States. I mean more so. And that's the beautiful thing about that, is that most banks, region banks lands in multiple states. They have a residential side and they have a commercial side. Okay, you're just not tied to that one spot. You're not just tied to Florida. And you have to open your mind to invest in other areas. It's not all about that one deal. It's all about using that resource to get on their list of assets available to you from all across the United States. So we're going to talk dive in more about this on Wednesday during the masterclass. If you've enjoyed this and seen me pull names, pulling contacts, pulling and seeing how we track these people down, here's an opportunity for you to be able to watch and be a fly on the wall and see exactly what I say to them, how I reach on it, what I copy when I send them an email and and be able to do it. And like I said, master class. Full day. Full day. Not one to four, but a full day. Me reaching out to asset managers and banks and showing you how to find deals there for you. Normally199 that's the price if you sign up Wednesday morning. So do so before midnight and get it at half off if you go to the bit.lee calling Banks Mc that link there or callingbanks.com URL it will take you There as well. So any other questions, comments, concerns before we let you go? Yes, Anthony. Yes, it is. Look, here's the thing. I want you guys to quit asking me if I'm going to record everything because I always record it. That's one thing I always do. I will record. I record everything I do. So, yes, if you can't make it, I don't expect you all to be able to make it all day. We're going to have basically probably four sessions. We'll have the first morning session, probably three sessions when I think about it, to go from 9 to 9 to 10:30, 10:30 to noon, take a half hour, 45 minutes for lunch break. So basically four sessions for you. Yes, you'll be able to watch it afterwards. So get signed up for it or do yourself a favor, save you a ton of money. Get signed up for the WCN membership. It's literally one of the greatest things you guys can do. We're going to save you a load of money over the next year because that's what we do with that. If you're interested in that, you can go to noteumbrella.com because we give you an umbrella over our education. For $97 a month, you can be part of the WCN crew and have access all that stuff. So two options for it. Callingbanks.com for the masterclass or get the whole thing. We share with you all the masterclasses, the three day workshop, note camp, weekly coaching calls by going to the noteumbrella.com and sign up for WC membership. But other than that, everybody, that's all I have for you. Any other questions from you guys here tonight? I'm watching you guys over on YouTube as well. You're catching the replay. Hey, don't dilly dally. Take an opportunity and make the most of your education. Let me help you find deals. There's more than enough to go around. Too many people are fighting and scraping for the scraps when they don't have to. There's a full meal buffet right next door. If you just get up and do a little bit of work, you'll find plenty of other deals that you can tap into. Amazing deals without having to overpay for assets. Yes, you still got to work through the pricing. Yes, there's going to be some stuff, but it makes much more sense to get cleaner assets and go from there. So that's all I've got for tonight. Once again, thank you so much. Hey, Kathy, good to see you as well. Everybody. Have a wonderful even. Enjoy your week. Hopefully we'll see you Wednesday at the Calling Banks master class. But otherwise, be safe. Have a great weekend. We'll see you all the time, everybody. Bye.