Finding Bank Special Asset Managers

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. Hey everybody, Scott Carson here. Just want to say thank you again for listening to the podcast. If you've been listening for a while, you're subscribed to the podcast. First of all, thank you. Second of all, hey, you know, if you're you're not one of our coaching students or you haven't signed up for one of our three day workshops, here's an opportunity for you. You want to check out our WCN membership. This is the biggest bang for the buck of the notice street. Besides our one on one coaching, this is our monthly membership for 97amonth that gives you access to all of our online training, our virtual workshops, our note weekends, our special one day master classes that we've taught in the past, anything that we have going in the future, as long as you're a live member, if I can't make you or save you $97 a month, I'm doing something wrong. But save you paying 997 or 99 bucks or 399 here or anything like that. We make it affordable at $97 a month and like I said, it gives you access to all of our past replays, our upcoming classes, our access to our special classes. We also do weekly coaching calls with our WC members and also our WC members also get first crack at tapes and lists of notes that we get in after our one on one coach to take a look at them. But it's a great way for you to go. You can also schedule call with me anytime to go through deals that you're working on marketing things, questions you got going on about a deal. We're here to help you. So how do you get signed up for that? Really easy. Just go to noteumbrella.com that's noteumbrella.com get signed up there for you 97amonth guys. Like I said, biggest bang for the buck of the nursery and we want seeds of the family. So let's get you signed up today. That's knownumbrella.com welcome to the no family everybody and thank you for always for listening. Good morning, good afternoon and good evening everybody. Hey, hope everybody had a great weekend. It is Monday here in Austin, Texas. Things are rock and roll. It's a beautiful day. It's sunny out during my morning walk. Nice and cool. Some people out with sweaters. I'm kind of cracking up because we've been wanting this weather for so long. It's gonna be 90 degrees by the end of the week. I'm excited. It's fincon week, so I'll be headed out to Atlanta, the big ATL Hotlanta middle part of this week for the rest of the week for four or five days with a bunch of finance nerds. Yeah, a bunch of money nerds. But anyway, I'm excited about that. You've heard me talk about that before here in episode. You'll see a couple of the next couple podcasts we released with some interviews from folks from that Rocky Levani from the profit first side, Chuck Chaffee, who I'm really, really excited about release that episode. You really enjoy that. Chuck's one of the probably smartest guys in the finance industry out there and got an amazing podcast as a guest on. So we'll put that all in there. But we've got such great stuff going on right now. It's kind of in the midst of the as we get get into here. You know, if you think about we've got nine, 10 days left in this month, Tom, and then we end up going into obviously November and December, the last two months of the year. I really do believe we're going to start seeing a pickup of distressed notes. If you aren't preparing and reaching out to asset managers, you need to do so. And you can do it by either going like the lane guide.com and sign up for that or going over to LinkedIn and searching by special asset manager. But I wanted to give you a little bit something to prime the proverbial asset manager pump. All right. And this is not difficult. Everybody can do it. You just have to take a little time and either do it when you can or hire a VA from like Reva Global Real Estate Virtual Assistants. Reva global.com Great, great company. Using myself. That's who we recommend out to all of our one on one coaching students and our students alone. Do I get a little bit of a affiliate? Yep. It doesn't affect your price any form fashion. But I use them and love them. That's why I recommend, you know me here. I recommend anything that I use that I like. If I don't use it, I'm not going to recommend it because I don't believe in telling you something that I'm not doing. All right. But so what was kind of funny this morning is I get, you know, I'm checking my emails, I'm walking this morning kind of walking around and there's pops another Marketing email from IMN. IMN.org Information Management Network. If you don't know who they are, they're a big company out of. Oh, where are they out of? They are out of basically Miami if I remember correctly. Yeah, so here's I, yeah, let's go to iml. Just click on here so you can kind of see. So I Information Management and they've got a whole, if you click on the event calendar they've got a whole variety of different events taking place now like this coming week is the manufactured Housing Forum. Tom. Coming up in October that same weekend is a real estate family office and private wealth management in the east Coast. Coral Gables extended state hotels In November, the Arizona Middle Market Multifamily forum. November mortgage servicing rights in November, distress form for bank and special assets. That's December is when I would look at. So they're hosting east coast, west coast, sometimes in the middle. But the great thing about this is these guys, I wouldn't pay to go to it, no offense. 1500 bucks plus a 400 night hotel room is what seems to be the average cost for a hotel room these days. These locations isn't worth it to go for a day and a half or two days. Just not worth it to hear panels. I mean it's a great thing. Everybody's all oh, I went to ims, what can. I don't care to go listen to panels where people speak for 10 to 15 minutes on panels is a big waste of time. It's just a filler. Honestly, if you're an event, if you're hosting an event, the easiest way to look like you've got a bunch of speakers about have a lot of panels and a lot of these panels, they're not sharing anything that's going to actually be valuable to your business. Yes, they will often talk about how great they are, answer a subject matter question or something like that. But if you really want to take and get value and you want to attend, go and hang out the local bar or the local bar in the hotel nearest the convention. That will be the easy spot where you will find people at. And you can go, I wouldn't go in the morning, you go in the afternoon or the early evening there and as they break out because that's where you'll see a lot of stuff. And they hang out in the lobby of the Hotel at night with other people. That's where what happens a lot of stuff. But anyway, what they do well is IMN sends out emails on a pretty regular basis. So like this morning I got an email here, let me go back here. Pull it up. So like Lisa sends out this email. Lisa Holstein. See here and you see on this. Hey, last chance to register your Midwest Distress forum for Bank Special Assets. It gives you a list of the companies that are going to be there. Okay. And it's a pretty good list. Okay. Now what you can do is if you click on register here, this is going to take you over to the event. Our event landing page. Now they don't on this event, you see 1995. Yeah, registration is closed because this week it's fine. They don't show the attendees. Oh, they actually do. Look at this. Okay, my apology. This is actually last month's event, not this month's event. So last month they click on attendees and this is what I love. You can see who's attending, I'll give you the job title and then the, the lender or the institution name. It's a couple pages long. All right, now what I really love is this new feature. Sorry, let's change it up. There you go. Go up and click on attendees. You see this new feature that, the search bar. So what you do, just type in up here, type in Special Assets Search. It will give you the list of people who have Special Assets Manager, Special Assets Group, Special Assets, Special Assets Director. Everybody that's shown up to this group. Now it's not as big a list as the whole attendee list, but it's a good starting point. Associated Bank Access Bank Bank 5 9. So what would you do? This is what you do. You click on Copy the Bank 5 9. Copy Vice President, Special Assets. And you know what? You are going to go over to your LinkedIn profile. Okay, you're here on your LinkedIn profile you're going to click Vice President, Special Assets and hit search and hit return. Change it to people. Executive Vice President, Chief Financial Bank 59 Vice President, Special Assets Relationship Commerce Bank. So some of these. Let's do this. May not even have a profile. Oh, FNB right there. So William Durbach out of Dalton, Pennsylvania. There you go. Let's click on his profile. Vice President, Manager of Special Assets. And he's at a 59 bank. There you go. So what do you do? You send him a message. Hey William. Now he's only got, he's got 500 plus connections. So what do you send well, let's just do this here to make sure that you guys know what the heck we're doing here. I will add a note. Mr. Dirak, I'm probably older than him, but anyway, I wanted, I wanted to reach out to you to see if might have any performing notes for sale this quarter. I'm buying for my own portfolio, either residential or small. Balance it. Send. Okay, now if you're hiring a va, what I would do is have your VA make that list. If we go back here, we go back to IMN and they make that list here. Copy this over to a spreadsheet and then copy the LinkedIn URL for that person or persons. If there's different names and put that in a spreadsheet. Then you can upload that spreadsheet octopus and then automate the automation to go out. So you don't do it individually one at a time. That's a really nice. So let's type in another one here. Besides Special assets. Type in secondary marketing. See what pops up there. No results found. Okay. Chief credit risk off credit risk. Okay. And then type in whole loan. Oh, so Special Asset managers is going to be. If you type in Special assets is going to be your best one. Right? There you go. That's the thing I would look in, you know, so 1, 2, if we look. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 16 banks. Okay. If you can make contact with 16 banks. There you go. That's not a bad bad day, right? All right. So this was actually last September 23rd, the 24th. So it's this. It was last month. Okay. Which is totally fine. Let's go back here. Look at other previous events. Let's see here. Distressed form for bank special assets. Let's click on that. Oh, that's supposed to be the email. It's not what we want to do. Or maybe their website's not up and running. Oh, their website isn't clicking on that one yet. Okay, Past events. There we go. It's better. Click on past events. So we just looked at that one. Distress forum for bank Distress. Commercial real estate forum. That was a month ago too. Commercial real estate Asset managers form. That might be interesting. That was a month and a half ago. Same thing hit attendee list. Boom, there you go. You can start seeing asset management. You can see there's five. Was it. Let's go all the way to the end. So five pages of it. Asset management. Asset management. So this would be good if you're looking for commercial notes Commercial real estate out there. Oh, I forgot to enable chat roll for those that guys that are joining me live here. There you go. Chat rolls enabled. So you can ask any questions. But the same thing, you know, you could literally have your. If it's only five pages, there's a bunch of per page. It might be worth taking the. Well, copy pasting the VA into a spreadsheet. Having your VA do the same thing as what I would do. Head of asset Management. Let's do this. Affinius Capital. Head of Asset Management. Copy. Go back to LinkedIn. Enter. There you go. I say Antonio be worth shooting out there. He didn't post anything yet, so he's probably gonna respond on LinkedIn. But at least you've got a name and contact and his birthday's coming up. So basically you can almost click on these people's the businesses of Phineas Capel. And if we look at their information. Let's see here. Visit website. There you go. Contact us. And now we have an email address for them. All right there. Look at that. And the guy you're looking for is Brian. Well, we know his how it's structured. So you see Head of global. So he's not on here, but we know how their email structured. So brian.harnet2@affiniuscapital.com so there you go. All right. You might also reach out to Bill Foster. Some of these people in the United States. Why not put six of them in an email. You're more likely to get a response back if you get an. If you send an email to all of them versus just one of them or you pick up the phone and call the San Antonio number where this guy is located. Out of a talk to. Okay, well, let's see what they have in their portfolio. It's always nice to look at portfolio. See they're gonna have. Yeah. Some office space. They're probably hurting office industrial. Yeah, they're going to be hurting multi family. Yeah, they may be some big projects, but you never know where opportunities lie if you just reach out to them. Okay, so what is this again? It's going to IMN clicking on past events. Okay. Clicking on the attendee list. Copy pasting that list in a spreadsheet and then copy pasting these into the search engine. Let's do this one more time here. SBT Special Assets at TV Bank. TVK Bank. Going to LinkedIn just doing the search. You might need to put a comma after the job title. Hit enter. There you go. Chris and Martin hit people. See the change if it's not Kristen. Yep. Kristen Martin. And then you can send a message directly to them, see if their contact info is updated, which is probably not. If not, then click on their company. Yeah, Triumph Bank. Yeah, we got a tape from them, actually, a while back. And then reach out to them, visit website and pick up the phone and give them a phone call or shoot an email to them. This is how you go to direct. This is how you get away from going to the paper stacks or the old FCI exchange or the. I can't really think you know any. There's not really a lot of other exchanges out there. This. You have to be more direct and. Yeah. Are some of these going to be some bigger institutions? Yeah, but you never know when they're going to have a crumb. Something that's small or something you get off their books. This is how you put yourself into deals and then just market them. Just send them a message, send them an email, send them a connection request. Just get them to start looking at you. They don't know you're there until you reach out and say, hey, I'm over here, everybody. Okay. One of the questions you guys have. Curious. This is one thing that I would be doing. If you take that list and put it into, like, an Excel spreadsheet and you have your VA go over and pull those profiles over, you can automate this through Octopus CRM. I mean, that's the nice thing is having them automated. They can find them and pull the LinkedIn profile over, and then you can set it and forget it and go do something else for the day. That's. That's the one thing is you have to make sure you prospect every day for deal flow in a lot of cases, unless you've got enough coming in. All right? Unless you've got enough coming in on a daily basis, then you don't have to. But if you don't have enough, then you should always be prospecting because you never know when that well is going to dry. Now, I had somebody reach out to me this morning, or I'm sorry, not this one, but Friday. Patrice, this is for. This is for you. Patrice is like, well, I did as you said, Scott. I went to one of these listing websites, and they gave the sellers, and I reached out to the sellers, and I called this first seller, and the seller chewed me out of the phone. I'm like, she couldn't remember the guy's name, but she knew the company mentioned the. I was like, oh, I know that guy's name. I said, Okay, I get that. What do you chew you out for? He says, well, I shouldn't be going trying to go around Paper Stack. I said, well, how many notes do they have available for sale on Paper Stack? Well, you only had, like one or two. I said, well, that's the thing. Ask me if you only have one or two notes available on Paper Stack, but you have more for sale. How am I going to get those others if I'm competing against, which is a bunch of BS if somebody screams at you for going around Paper Stack, they're probably not a serious seller, okay? Plenty of deals take place. You're gonna be marketing. And if you got to go back and forth through crap or papers, like, I've got two deals off of there right now. I made offers on no responses from the seller. So if I waited for them to respond, I would never get a response. So I'm gonna. I go direct and it's much easier and you get more deal flow. And it's. It's. So few people are doing that. Okay, so few people. I don't know how many buyers or people Paper stack has on the list. I imagine it's probably a good chunk. Probably, I don't know, five to 10,000 people since they've been around doing it. But how many notes are they still on a regular basis? If they're not selling that many, they don't have that much to look at. So guess what? You're gonna go reach out to those 15, 20 sellers that are on there, see what else they have. And that's being smart. That's not called being shady. Just that not everybody is listing everything on Paper Stack. If you get some screws screams at you, just hang up and go to the next one. That's what I'll tell you right now. Next. Next. Next. All right. They may not want to sell their notes at a price that makes sense. All right, everybody. So that's all that I've got for you today. Go out, take some action, leverage some of these free lists to find the right individuals, the right persons for yourself to take a look at and always look at. If you don't know what you're asking about, then figure out what you want to buy. That's the biggest thing I tell you. If you've been through our workshop, like I like to say, that our buy box is going to be single family, you know, residential notes and commercial notes. Residential, really? A half million or below. I mean, you'll look at some that are higher, but you prefer the half million or below. And then small balance commercial. That's really below $5 million in value. Alrighty. Great dinner, buddy. Have a great rest of your week. And we'll see at the top, everybody, by.