Leveraging Your Experience With Past & Present Case Studies

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.

Good morning, good afternoon, good evening, everybody. Welcome to this episode of the Note Closure Show. As always, Scott Carson, the note guy. Excited to be here with you today. And today's topic is something that I see so many new and experienced real estate investors failing on. And they fail on this on a regular basis, both new and experienced. Now, what the heck am I talking about? Well, I'm going to say a quote. You probably heard the saying that a picture is worth a thousand words, right? I'm always amazed when we get experienced real estate investors who come into the notes space or they book a call with me or they're, you know, they're deciding to get notes or they decide they're going to go into the note business and they're only looking at the money in their checking accounts or their IRAs. I mean, I literally had a conversation yesterday with a guy who's got about 100 grand in his different investment accounts and his IRA accounts and 401ks and stuff like that. And he's just looking, he's like, he literally limits his belief that he can only buy about 100 grand worth of notes. Yes. If you're using your own money. He's limited that. But I asked him, I said, hey, man, how many deals have you done? Because you don't sound like you're like 18 years old. He's like, no. He goes, I Wish I was 18. He goes, I'm in my mid-60s and I've done quite a few deals. I've done bought some performing notes. I've done a lot of fix and flips. I've done a lot of wholesale deals. I've done some commercial stuff. I've probably done, oh, 50 deals. And I just started laughing. Have you ever shared that with your audience? Like, no, I have it. And that's what I'm talking about. Most investors fail to share their experience and that's why they struggle in raising capital. They think they've got to share a specific, oh, it's got to be a perfect note deal or I got to go prove concept before I can start marketing for deals. That's the biggest bunch of malarkey I've ever heard. And I take this back to the last, going back 2000, golly, 2005, I guess is when I first started kind of working with other investors. When I was working for Bob Lee and Eddie and Jimmy Kayla, we were running the mortgage business, me and my buddy Boyd. And I really took to the fact of marketing because I didn't have a lot of experience. The experience I had wasn't very good because I had two fails investment properties and almost lost my home. But he told me Bob and Jimmy both talked like, listen, most people are worried about if the deal makes sense, if the deal makes sense, they're often going to overlook your experience. Experience. So share the deals because even from your bad deals, you've walked away with lessons learned, haven't you? I'm like, yeah, I have. I would never do that again. Well, don't be afraid to share that you're good, you're bad deals. The deals you made a ton of money on, everybody wants to share. But the deals you broke even on or the deals you lost money, how did you take care of people and that those are some of the most important things you have. If you're coming into the notes space and you're what, you're listening to the show and you've got a ton of fix and flips, or you're a but an active landlord who's tired, you know, tired of toilets, tents and trash ass. Or you're a wholesaler who splits a lot of wholesale a lot of property, or you're brand new. Okay. There is two avenues you can take. If you've got a lot of experience, the number one thing that you can do to raise capital is to share your experience with your audience. Now, on a previous episode, I've talked about how your number one tool, your number one asset is your email list. If you've got an email list. Yes, use it. Start sending an email out to your database on a weekly basis. Your warm market. Introduce yourself and share a past case study. Hey, I just wanted to share you back. You know, throwback Tuesday or throwback Thursday or two for Tuesday. Here's a couple deals that I did in the past. Here's a deal, one of my first deals. Here's a deal that I walked away from. Here's the first property that I flipped. You know, here's a deal that I didn't do that I wish I had done. All right, these are things that a first, it shows that you've taken action, which if you take action, people want to surround them or be surrounded by action takers. They Want to align with action takers. And two, it shows experience, it shows report. It doesn't matter if it's a note deal, a wholesale deal, a commercial deal, a rental, a wholesale deal, whatever. Performing non performing, partial first, second, nobody gives a rat test. It's the experience. Okay, so the one of the number one tools that I tell people to do, and this also works if you're a loan officer, you're new in the business or you're a realtor new to real estate investing. Do yourself a favor and, and go back. And I know a lot of realtors can jump on the MLS and download a list of properties that they've sold or listings they've had in. Put together a list of every deal you've done, every property you sold, every property you helped buy, every property you helped get a mortgage on as an origination or refinance. If you're a loan officer or realtor, but if you're an investor, take those lists of assets because that's your experience, that's your investment resume and go, go online, pull a picture of that property. A street view. It doesn't be anything fancy. Yes. If you got before and after pictures, people love that. All right, if you've got walkthrough videos, people love seeing those things. Okay, that's like crack to people on social media. You know, anytime we post a short video on TikTok or Instagram or YouTube and it's a walkthrough, boom, the views go through the roof. People want to see that. Or we talk case studies. Boom. People want to see that. One of the most valuable things that we've done in the past is that we would get notes in a tape in from an asset manager and we would do a live webinar going through all 30 or 50 or 70 or 150 over two days. Those videos always went through the roof. And going back to when I first started, anytime I shared a deal, especially when I was back in 2008, sitting in a one room office on the north side was a we I sublet a one room office. It was like 10 by 10. Maybe not even 10 by 10. Maybe like 9 by 9. But they had a training room that had dry erase boards. Well, I would go in there and I would pull up the spreadsheet and I would work through my due diligence on my laptop and pull it up and write down the board. And then what I would do if the deal makes sense, then I record a little short video. I would pitch, pick a picture of the Property, talk about the numbers. I wouldn't share the address because I didn't have the property under contract yet. But I was going to make an offer, but I could share City, State, I could share an image of the property as long as it didn't give away the address. You know, I see that people share like a Google street view and shares the address. I'm like, well, if people are smart, they can track that deal down and maybe go around you. And don't do that, just share a picture of the property. No address, date, say Cleveland, Ohio or Austin, Texas, note deal. And you could simply say, hey, this is a deal, it's pending, but we're working through the numbers on that. Or like I said, if you got experience, share the deals, you can share the address, you can share the numbers that you made, you share your ROIs on this stuff, but you don't have to be too fancy. But here's the thing. If you're new to marketing to an email database, or if you don't have a big email database, but you've got some social media profiles, Facebook, LinkedIn, Twitter, you know, Facebook groups, whatever it might be Instagram, Twitch, whatever. Maybe not twitch so much on the real estate side as you're a gamer, but start sharing your deals. This always draws more attention. It's always get. It's literally like throwing chum in the water in a deep sea fishing adventure. You wouldn't get sharks around. You throw chum in the water and the sharks start going crazy. And that's what it comes down to. You can talk about theory and talk about the markets. People will read that, they'll review that, but they won't click on that connect or they won't pick up the phone and give you a phone call or they won't shoot you an email. They will. If you start sharing past case studies and current deals you're working on now. If you're brand new and you're sitting there thinking, scott, I don't have any experience, I'm coming from the corporate job. This is my side hustle. Then you know what you do? You go out to some of these websites or you go out to some of these platforms and you pull an asset off of that, you don't share the address. You say, hey, here's a deal that I'm working on. Here's a property that I'm working on. You know, here's a note that I'm working on. And share the number. Same thing. Don't share the address, share some specific numbers, city State a good photo of the property. And if you're scared to be on camera, guess what? You don't even have to be on camera. Just do it in PowerPoint. Keep your do it in Zoom. Make two slides. One's a case, you know, one's a picture of the property. Say it's like a Detroit note, a Detroit reo, what it might be. In a second slide with all the details, you know what's owed on the property, you know what's the unpaid balance, what's owed on the property, or legal balance, what's the value of the property, Is there any equity? Rent rate, current PNI payment, occupancy, rent rates, bed, bath, square footage? What's your strategy to get it re performing? If it's occupied, if it doesn't work to get occupied, are you going to deed and load work to deal? If it doesn't work to deed and loom, then once you're done, timeline to foreclose. If it's a vacant property, then you're not going to look to get reperformance. It'd be a D blue or a foreclosure in a lot of cases. So sharing. And these videos don't have to be five, 10, 15 minutes long. We're talking two to three minutes. You can get through two slides in just a couple of minutes. Literally three slides. One picture the property, a picture of the note and what the title is. Second slide is about the details that are overlaid. You can have them transition in or just create a PowerPoint slide in Canva where it's got all the details and you're just talking about the deal. You're doing your due diligence, you know, what, what's owed in taxes, you know, that kind of stuff. Where are you seeing this deal going? What kind of information you've attained so far? Just tell them that, you know, tell them the story of the deal. And that's what great people that are great entrepreneurs or great capital raisers are able to tell the story of the deal. Many people remember the case study of the property where we were able to bought the note. We modified the borrower, kept them in the house for four years, dropped their interest rate to zero. Their granddaughter was named Carson after me. I mean, if you've ever been around, you've heard me talk about that case study or talk to her to talk about buying the North Carolina 8 Plex that was a working brothel that I didn't know till afterwards. Okay, you know, or the mobile home park that was a call girl's house in a Las Vegas trailer park. You know, there's some signs there to think about you saying or the worst roach infestation in Salt Lake City rehab that I did or my first property here in Austin. Those deals are great stories. Tell the story of the deal. If you're brand new, guess what? Especially as a note investor, it's not all about you fixing and flipping the property. If that, you know, if you need to, if you don't have a lot of experience, hey, talk about, hey, I've got a servicing company this, this notes are raised currently serviced by a company. We'll step into the shoes and finish the foreclosure. It's already started. Foreclosure will take over the attorney or hire a new, you know, new counsel to take it over. And the foreclosure time frame is in a, you know, in a couple months. You know. And here's the thing, you're not going to go out and take a look at all these properties on the front. You're not going to drive across or flat cross country. If it's got a good street view image off of Google, pull that, use that images online. If they've got a BPO or an inspection report that the seller has, use that, you know, screenshot, a p, you know, picture off the PDF is a good photo. But share these stories. This is how you get people interested in taking at you. Because a lot of people not doing anything, okay? A lot of people not doing nothing. So if you start showing and sharing your case studies on a regular basis, you will have people that will stand up and take notice. They'll start commenting on these deals. They'll start connecting with you. They'll start asking how do I get on your buyer's list? How do I, you know, I'm interested in that deal. How do I get funny? This is what happened to me back in 2008. I'm sitting there doing these deals, working through them. I'm sharing an image, sharing a short video. Me walking through the numbers on a dry erase board or on a PowerPoint slide. And I just started sharing them. And it led to people reaching out to me that either a one to buy or guess what, they wanted to invest in me. I want to know how they can get involved. Whether they had 10 grand or 25 grand or 50 grand. I highly recommend you stick to the 50 grand or above. Your friends and families will pay attention what you're doing. As I said, a picture is worth a thousand words. You don't have to have Your mug on there. If you don't like the way you look or you don't want to do your hair or makeup, ladies or gentlemen, if that's something you're worried about with doing video, just do one, two or three slides. That third slide, what is that? It's your call to action. How do people get a hold of you? Your email, your phone number, you know what's the best way, you know how to get. How to put your lazy. If you want to put some lazy asses to work or find out how to get involved, reach out to me directly. Maybe it's your calendar link. Maybe it's a custom link like I have Talk to Scott talkwithscottcarson.com to book a call with me to talk about deals. Think about this, ladies and gentlemen. If you map or you take this list of deals that you've done, especially for those you have experience, investors, realtors, loan officers, whatever, wholesalers. If you had a spreadsheet of all the properties that you've been involved with, either you wholesaled or you're involved in some sort of fashion, and you use the batchgeo.com, that's a great website to map. You can map up to 250 properties locations at one time. All right? It's free. If you were to map 250 locations and you walked in say, hey, here's my experience and all the property that I do. And because it's. You're like buying in Austin, you have all these dots, it's going to lead to like people instantly believing your experience. Your report. We had a realtor out of Chicago and she had bought and sold over $37 million in real estate. I'm like. And she was very intimidated. Well, I don't have a lot of investment experience. I said, but you understand what a property looks like. You know how to pull values. You know a deal when you see one. She's like, yeah, I do. I said, well, just because you haven't bought a lot doesn't mean you don't have experience. So let's go map. So we did that. We mapped her market in Chicago, every property. And it looked like a just red dots everywhere. I mean, it was just huge. And she's like, oh my God, I'm going to put this part in my presentation when I go in and meet with buyers and sellers. Well, I said, don't just leave buyers and sellers, but with other investors or funding sources or rea club means when you get an opportunity, slap that puppy up and say, hey, here's I know Chicago, I know the Windy City, I know Chirac, I know Crook County. And it's this is not difficult. The great thing about doing, you know, sharing a couple images like this or slides is it's good to videotape these using Zoom, a free version or something to record this where it's 5 minutes or long or less or 10 minutes at the longest. Really you don't want to get too long winded on this because it's 10 minutes or less. You can then upload that video all across the place to link to LinkedIn and have it shared there. If it's about a minute, you could share it quickly to Twitter. Ten minutes. You know, you have to look to Facebook, you can put on your profile, you can upload it to YouTube, you can share it to Instagram. I mean there's so many things I think, was it TikTok last 10 minutes or less. This is where you need to be doing and investing your time. And if you're looking for deals, you could literally go over to a couple of the websites that are out there. You know, like Paper stack, they got 138 first liens. You can start doing a deal a day. And I'm always amazed when I see different websites like them that they don't advertise the deals. They don't do a deal today. One of the most ingenious things that my buddy Val Satir did with Watermark Exchange when he was trading a lot of assets back a few years back and we helped them launch their website, help market us. Look Val, if you're getting deals in on a regular basis, you have a lot of people that are looking loose tire kickers. They're going to go to a website, maybe look at one state or maybe they'll forget. But if you get them to opt in and you send them a deal of the day or the deal of the week, you're going to get more people coming to the website to look at that and look at others. Just offerings are constantly being updated. And that's what he did. He implemented that deal of the day or deal of the week and he started getting a lot of people and we helped them move a lot of assets by doing that. And if you basically outline the deal, the numbers on it, you make it in simple fifth grade terms where everybody can understand it. Okay, I don't know, maybe a fifth grade English is too advanced sometimes for some people out there. But you get what I'm saying, keep the information simple and just share what you're working on share case studies because the worst thing to happen is somebody said, well, that's my deal. Yeah, I'm using the deal to raise capital. I'm not sharing the address. We, if you don't have the deal under contract, do not share the address. We had a student of ours who got a list of commercial deals from a bank and there was an apartment complex on there. What did she do? She took the exact photo that the ass manager had used in their prospectus or their executive summary of the deal and create a post but put the whole address, hey, I'm buying this deal. And the asset manager saw it because he had connected with her on LinkedIn. Well, of course, when she put his posted back on LinkedIn, she, he saw the deal, he was all pissed off and called her up and what do you mean you don't own this? You don't own this deal. You don't even have in our contract yet. She called me, I was like, come on, a little common sense there. Take a different photo. Take it, you know, go to a street view and do a different angle than what they're advertising out there. But we all got to start marketing. I mean that's the great thing. If you want a hamburger, guess what's happening during the Super Bowl. You're getting bombarded with Hardee's and McDonald's and Arby's. We've got the meats, you know what I mean? Pizza, Papa John's, Little Caesars, they're throwing pizza food in your face. Well, if you want investors to eat your hamburger, your pizza, your meal, then you got to start sharing that information. That's going to make it attractive. Now there's some terms you may want to do. Hey, look at, look at this REO deal that we're getting. We have at 50 cents on the dollar. Look at this non performing note deal that we're making an offer on that could yield to a 30% cash and cash return to perform or 25% we foreclose or we're buying this, this performing note at a 16 yield. You know there is so much or Texas, especially hot markets or Austin, Texas note dealer, Miami, Florida note deal, hot markets will attract viewers buyers and you'll be surprised what's going on. But if you look at people that are sharing pictures of assets, pictures of deals, they're getting responses, they understand the value. But here's the thing, you got to start sharing this stuff now. When you get a hot deal in and you need to raise capital, many people then will share but they're behind the eight ball, they haven't primed their audience, they haven't wafted, you know, as Emerald gossip would. But you smell that Bam. Or getting the few you know them smelling what you are, what you got cooking, you know, can you smell what the rock is cooking? Can you smell what the note investors are cooking? You know what I mean? But sharing now, sharing on a regular basis, maybe once a week would be so valuable for many of you. Hey, here's a deal that I'm working on the week. Now my students, my one on one coaching students do a really good job of sharing. Hey, I just closed on these five assets or I'm working on a picture. That's why they raise capital, that's why they get deals closed. A common thing that many will do is they get a tape in of assets, they'll map that in batch deal and then they share a map and it's got all these dots on it that people react to. It just shows a bigger story, shows that they're taking action and, and they're a part of something bigger. But the action takers, like I said, ladies and gentlemen, even if you're brand new to closing deals, the fact that you're marketing and sharing deals, you got to give your audience time. Share it, share it, share it. Keep sharing your case studies or deals that you're working on to get your audience involved, to get your people time to say hey, he might know what she's he's doing or she's doing and I want to find out more. And you finally hit a deal or a number that makes me excited or I actually saw your deal this time, maybe I haven't seen the last couple of times. So don't just rely on your email blasts. That's the thing to look at, to look at your engagement. Most email lists, especially in real estate, you're going to have somewhere around a 17 to 21 open rate. That means you're going to have at least 83 to 79 of your email list. I didn't see your deal. So reshare it, repost in other places so that the more you post it, the better you're going to see it. And it's one of the better ways that we like to raise, you know, like I said, raise capital through that sharing. Taking an image of a deal and sharing it across seven or eight spots. If you think about it, you create it and share it, share it as a video on YouTube. That's one spot. You share it to Instagram the picture and the deals, that's 2. Sharing email database, that's 3. Facebook is 4, LinkedIn is 5, Twitter is 6. You know, sharing this out to your audience on a regular basis is a great thing. Another really great place to share also would be like meetup groups, real clubs. They got Facebook groups of investment clubs out there too that are in specific niches of the country. Sharing those places where that deal is, that's how you attract investors. That's how you make things happen. And ultimately, guess what? If you're pulling a list of IRA investors and you've got a couple deals in that back in their backyard or near them that they might be interested, guess what? You take those photos and deal those case studies in it. Create a postcard with Vistaprint for 50 postcards or 100 postcards and you send that out. That's part of the aspect here, is that your deals, whether they're past or current, don't care about your experience. But past deals are great. If you got that, do yourself a favor, like I said, make a list, check it twice, look at the deals that are naughty and nice and create you a few info, a keystone, a few case studies. 5, 10, 12, you know, same thing. If you're a new note investor, get out some of these platforms, look at a deal or two that makes sense for you and start sharing and getting the word out. Because that's the only way you're going to raise capital and let people know what the heck you got cooking is by sharing past, current or future case studies. So one of the best deals, one of the best things that we use when it comes to marketing our businesses cases, because that's what people want to see. They don't want to know theory, they want to know how awesome you are. They want to see some of the case studies and deals that you close. It will also help you with asset managers to send you stuff because if they start seeing that you're closing deals, hey, here's a note buyer. I'll send you some stuff to take a look at. And that's, it's a, it's a great way not only finding buyers, finding sellers, but also raising capital. That's one of the great things that we say, everybody is there. Two out of three of those, everybody's a buyer, everybody's a seller, or everybody's a funding source. So go out, take some action, and we look forward to seeing you top. You want to book a phone call? Guys, feel free. Talk with Scott Carson dot com. Book a call on my schedule or check out our WC Monthly membership $97 monthly cover these types of topics all the time weekly. And if you're looking for some deal flow, our WC and crew members are seeing the list that we come in on a regular basis to help the market. So go out, take some action everybody, and we'll see you off the top. Bye. Thanks for listening.

Sam.