Note Investing With Scott Carson From Day Ones: A Journey From Life, To Living With Lavonte Arberry

Shout out to my day ones if you need some say something I'm on the yellow Ain't nothing for my real.

One.

Shout out to my day ones Shout out to my day ones yes, sir. So we gonna go ahead and introduce my guys, my brothers, my day ones.

Where y' all at?

Yo, it's Ooh, Johnny boy, always on the beat.

How you doing?

Mr. French himself.

You know me, I like to keep it simple. Terry Gaston.

How I doing? The mic.

All right, Terry Gaston, now we got Dom.

He.

He MIA today has some business to take care of, but it's all good. We got a replacement for him right now. We got A special guest, Mr. Scott Carson, in the building. How's it going, Scott?

What's going on? I'm doing a wonderful, fellas, every. Doing well on a wonderful day today. Glad to be here. I'm just here to give to your audience, man.

Man, that's good. Yeah, that's good, man. I originally met Scott online actually, man.

He.

He definitely. He reached out to me, and he. He sent me a encouraging message at the time, where you probably didn't think it was encouraging, but you question, you know, are you still doing a podcast? And during that time, you know, I did talk about I was going through something with my mom, and so I did get a little discouraged, but by, you know, Scott sending that message, it. It actually reignited something. So I definitely appreciate you for reaching out, Scott, and that's. That's why we're here today, man.

Well, you know, we all have different journeys that we go through and trials and tribulations along the way. I've been through my fair share in the last four years of being a podcaster, stuff like that, and I always like to work with new podcasts, people that are on that journey. I mean, I've recorded 650 episodes, so I know that you have ups and downs and, you know, hey, any type of feedback. Even since mentioned my podcast, I still get delighted. Like, it's the first day.

Yeah, I listen to your podcast, man. I really enjoyed it. And you. Do you take on a different type of investing that I've never heard of before. Now, I know Terry, he actually heard of it. So can you just describe what you do for our listeners?

Yeah. So for the. For everybody that's out there, I'm not across the country as the note guy. And what I do is I buy distressed debt, distressed mortgages, primarily first liens on residential commercial properties. And Michael, when I buy that mortgage is not to own the property, even though a lot of people think that my goal is actually to keep the mortgage, get it re performing. We buy primarily non performing mortgages where somebody hasn't paid their mortgage, usually at least six months, if not longer. And when we, when somebody hasn't paid their mortgage for six months, the bank is willing to sell us that debt at easily a pretty good discount. And so we buy that debt at a discount even though bar slows the same amount. And we make our money by really kind of helping people stay in their houses. You know, hey, hey you, you know, whatever it might be, whatever country western song somebody's going through, we've all been there, right, and experienced it. And we, our biggest bang for the buck is then once we buy that debt. Buying it at a discount gives us a lot of flexibility to work out with a homeowner and try to keep them in the property, modify their loan, work with them some sort of situation. If they're not able to or unwilling to, then we go the legal route or try to work with them to walk, pay cash or keys to walk away from the property. We are still investors at the end of the day, but our number one focus, like I said, is always to keep people in their houses.

I got you, I got you. So can you walk us through a little bit of the steps when it comes to that?

Yeah, I can do that definitely. So when we buy, we deal directly with banks. So banks will send us lists of their loans that people are behind on, they're not performing. God knows we have enough of those out there right now. Everybody being struggling with things that are going on right now. So we see it on both the residential and commercial side. And so when we get a list in from a bank, it's a spreadsheet. And you know, while we, we do evaluate the property because that's what the, the mortgage is secured by. As far as a valuable side. We do a lot of research on the mortgage, the note. We do a lot of research on the borrower to see if they're a candidate. You know, we can tell a lot about the property by exterior views. We always send some, you know, look at the prop room. Can't get inside most of the time, but we can still tell a lot if it's occupied, what kind of car the person drives or how well they're taking care of the property, if they've got kids or any type of emotional equity. And we do get a lot of the information from the bank or the current bank or the servicing company. And so we see notes. So if somebody calls in, they're friendly, they work well with a servicer. Even though they're behind, we'll work with them. If somebody calls in and is just cussing out the bank, we know they're going to be a problem borrower and we're not likely to help them as much as we would somebody who's willing to work with us to make it a win win. So when we buy that debt, then it's us reaching out and just trying to find out what's the story. I mean, we have usually a pretty good idea of what's going on, that borrower's life, because we'll see the notes that, you know, they lost their job, they got sick, they lost a loved one, they went for divorce, whatever it might covet kicked them in the teeth, you know, whatever it might be. Right? You know, okay, well, what do you want to do? Do you want to stay or do you want to go? You know, if you want to stay, okay, you know, pay you. No, stay. Exactly. But that's the thing is, you know, like I negotiated a loan mod with a borrower just the other day. The other payment, they had made a payment over a year, they'd been laid off, they finally gone back to work. The more existing mortgage payment was like 350amonth. And I was like, okay, look, can you start paying your existing payment now? They're like, yes, I can. Okay, could you bring a little to the table? Yes. So she's bringing in four months to the table, four months of back payments to the table, and she's gonna pay a little bit extra each month. She's gonna pay 500 versus 350. Wow. And I told her, listen, if you pay for every, for every dollar above what your monthly payment is, we'll forgive double that. So if you pay 50, we'll forgive 100. Wow. To help her get caught back up. Cause I bought the deal. I bought the deal at such a big discount, I can be flexible with what she owes, but she owes more than the property's worth. So it's not like I'm going to be able to recuperate that overage. I guess you could say that. But that's one of the great things is I love keeping people analysis. And of course, if she doesn't follow through on her plan or doesn't perform, then you know, hey, what's going on? If people go dark on us, they won't communicate with us and we hire attorneys and our servicing company, then we'll start the foreclosure process and we'll start that legal process, take the property back.

Wow. I like that because not only are you guys benefiting as a company, but y' all are also helping people to stay inside of their houses in troublesome times and you know, various things that they're dealing with. I really like that.

You know, I have a big. I really do empathize with people that are facing foreclosure or struggling right now. Because over a decade ago, and I'm talking Back to like 2000, actually 2004, I was a deadbeat borrower, I guess you could say I lost my job. I had tenants and rental properties that lost their job as well. So I was trying to make six mortgage payments, three first and three seconds on my now ex wife's private school salary. You know, I've been there to dig for change in my car or shake, lift up the couch and shake it, trying to get the next. I can put some gas in the car to make it work the next day. Yeah, exactly. Yeah. And so it's just, it does feel good when you help the people. I wish we could help everybody. But people don't realize, especially right now, the banks really don't want to foreclose. They really don't want to be the bad guy. Banks don't want to own property. What you may think banks don't. Honestly, vacant property is a non performing asset to a bank and actually it costs them money. And if you can come to the table with some sort of plan, you know, hey, this is what happened. Can I do this right now? Especially with everything going on, the banks are much more flexible than they've ever been, especially compared to 10 years ago. The banks don't want to have that bad press of trying to, you know, kick people their houses in a time of a pandemic.

I got you. I'm still trying to, you know, grasp the concept of buying a note, a mortgage note from the bank, you know.

You know, it's a different process, man. I mean, we don't many people start off real estate investing with sending out like postcards, right. To foreclosures or out of state owners or the, the yellow litter campaign. Hi, my name is Scott. My wife Stephanie and I want to buy your house. Right. Putting out bandit signs, you know what I mean?

Remember that?

We don't do that because those of those will work in different areas the country depending on what you're focused on. We're dealing directly like the bank presidents or vice presidents of banks. So it's a different type of mentality. Whereas one bank isn't just like one property. One bank might be 10, 100, 300 properties or 300 mortgages every quarter that we can look at. Wow. And so, yeah, so it's nice. It really reduces the cost of marketing, which is always one of the most expensive things for new investors. You look at postage and printing and then buying the list and then to get 1 to 4% response rate on direct mail. That's not effective for most people. And so we contact banks directly through LinkedIn or through email or the old fashioned dollar for dollar. And so but that's the point is that when we buy the note, we literally become the bank, we become the lender. So you have to have a little bit different mindset than a fix and flipper or a landlord. We're a lien lord, I guess you could say. And the idea is that we want you to look at the note, the borrower versus the property, although the property's still important. I mean, I never buy another property that I don't want to take back for the most part. But it's all about really what's my return on investment going to be. And my biggest bang for the buck in the note space is always to try to keep the borrower in the house to get them start making payments, maybe bring a little bit on the front end. And if they make payments for six to 12 months, that loan would be then considered a reperforming note that I could sell back to other investors or back on the market to the different institutions at a huge 50, work with a bar for a little while at 12 months, they've made payments on time, they're back on track, Boom. I could turn around, sell it back on the market for 85 to 90. So it's kind of.

Wow, wow.

That's blowing my mind right now. It's going up in my head.

If you bought a beat up car and put some TLC into it, got it all shiny and run smooth again, it makes sense, right?

I got you.

What you don't realize is we're all in the no business, guys. You are all the no business.

Yep.

Just on the wrong side of the pain.

I was just about to say that. Just on the wrong side of it.

Yeah, man, I didn't know, I didn't know about this side, man. This is something new to me.

Well, you know, I don't know if you guys are movie buffs and you might be a little younger than me, but there's a great movie, you know, the Big Short. If you if you like financial movies, the Big Short is a great movie. Talking about kind of what happened 12, you know, 10 and 12 years ago with the Great Recession in 2008, 9, 10. I would go highly recommend you go watch it now. What's another thing that's also very interesting is a movie that hasn't come out yet. The Banker with Samuel L. Jackson.

I watched it, I've seen it, I love it.

Oh man, it's a good.

That is my movie.

It's a great movie. It is. You know, and that's the way I look at life. Everybody is worthy of owning a house. They just need to understand the options available to them. And a lot of people don't know the options out there. And a lot of people, when they fall behind or they, you know, lose their job and the bank starts calling them letters, they hide. That's the worst thing that you could do, pick up the phone, start talking to people. There are options available for everybody out there.

I got you. So what type of banks are you, Are you dealing with the bigger banks or are you dealing with community banks?

That's a really great question. I'm so glad you asked that because the last thing we need is people calling me, hey, my mortgage is with Chase and you buy it. You know, don't get me wrong, I have bought some commercial notes from some of the bigger boys like Chase and Wells Fargo. But you're not gonna buy like a one off residential note from those big, big boys. Usually they want you to write like a fifty million dollar check. Okay. And if somebody's listening to this and they can write a 50 million dollar check. Okay, let's talk. So yeah, I deal with a lot of, you know, regional banks. I mean, that doesn't mean I haven't bought from some of the big boys. Like what's in your wallet? Capital One. I've been buying from them for 10 years. Oh, wow. You know, us bank out of Minneapolis, Synovus bank out of, actually the bank of Georgia, bank of Arkansas, bank of Louisiana. There's a lot of lenders out there that we have bought from over the last 10 years and we've made relationships with them. But you're gonna have your biggest bang for the buck by really dealing with regional banks. You know, they've landed a couple states, they've usually got, they've got 10 or more branches. You're not going to do really well by trying to walk into your local bank that was a one, you know, one off branch and trying to buy their debt. They're just usually too conservative. But that's the same thing. You can't, don't go down the road like this is like, hey, this guy's got Carson. They don't want to call security on you. Here's the thing. The people inside the banks that handle their note sales or their distressed assets go by a couple different titles. One is secondary marketing, a secondary marketing major, one's a special assets manager, one's a chief credit risk officer. Usually it's a smaller banks chief credit risk officer. And then finally some of the bigger lending institutions that maybe aren't banked, but big companies, they have a department called whole loan trading. And so you can literally jump on LinkedIn, a free version of LinkedIn, type in those job titles and you'll see thousands of thousands of people. And that's what we do. We reach out via LinkedIn a lot of time and, and start reaching out to say, hey, what do you have in your books that you're looking to get rid of this quarter? Because right now the fourth quarter and the first quarter are always the busiest times of the year as banks are trying to clean their books before they've got to report their financials to their stockholders. Wow. Yeah.

Yeah. Hey, this fourth quarter, man, I've been investing in a lot of stocks. Third quarter, everything was down. And I do option trading and I got in a lot of options. And this fourth quarter, a lot of stuff started just coming up out of nowhere. So I can definitely relate to that.

Good or bad? Good or bad?

Some good, some bad. See now, now I'll tell you, I'll tell you this one thing. I was betting against the, the S and P and I was hoping that it would go down, but it just started spiking up. Everybody's so optimistic about this vaccine. So I'm like, okay, you know, I've had these options in for like a whole month and there they just expire worthless. So I'm like, wow, sucks.

Yeah. You know, you have to realize the S and P is the best advice I've ever gotten from anybody out there. Some of my mentors. And here's the thing, we take it, take, don't look for advice from anybody because everybody, advice is like an asshole. Everybody's got one, doesn't mean they know anything. So what you have to do is seek counsel. Counsel from people that are where you want to be or doing the things that you want to do. I was very fortunate to have some great, really great advisors along the way. And as an ex financial advisor, that's what I was doing as a banker back in the day and understanding stocks and bonds and options and mutual funds, stuff like that. Before I got into the mortgage business, some really great advice came to me is invest in things that, you know, that you like. Makes it a whole lot easier. I mean, you try to bet against specific S&P 500. S&P 500 is an ever changing, you know, market for the most part, you know what I mean? And they always say the S and P is what, doing 5 to 8%. Okay, that's great. Or 5% of the last few years on average, it does a little bit up, a little bit down. But if you really spend time and focus on specific companies or specific strategies that you really know you like, you love, or companies, hey, that's really the best thing. I mean, you know, like, if you look at Warren Buffett, I almost called him Jimmy Buffett. That's a whole different. You know, he invests in things that he knows, you know, things that he focuses on that he dives into. He's frugal, which is one of the smartest things to think about, that he still drives that McDonald's every day and gets a cup of coffee, two egg McMuffins every morning there in Omaha, Nebraska, for the most part. But. But he is not only very smart, but he's also a value guy. He understands the companies. He's a value guy. And he also understands, especially for anybody out there looking to invest, especially in real estate, he understands the power of leverage. You gotta realize that stocks and bonds are great, but what that is, that's a company using other people's money to go out and go invest and do other things about. It's the same thing in real estate. One of the biggest mistakes I see a lot of investors make is they will only look what's in their checking account or their savings accounts to invest with. And there's trillions of dollars in private capital and retirement accounts and IRAs and that they're just begging for people to call you call them up with a deal or an idea or investment opportunity that actually makes sense. I think I saw an article with all this craziness with COVID that we've got more saving more money in savings and banks than we've had in, you know, decades because of people kind of squirrel it away for a rainy day. Right? Yeah.

Now, you. You did mention that you were a banker prior to what you do now. Is that how you got introduced?

No, I got. It's kind of an interesting story. So I was a financial advisor back out of college working for Citibank. Actually Smith Barney was a company they had here in Austin. And I was doing really well at college, making close to six figures. And then they closed down the offices here. I mean, literally come into the office one day like, hey, thanks for working for us. We're closing down. And I just bought two investment properties besides our primary residence. So that's why I made the statement that we're trying to make six mortgage payments. Our two investment properties were right next to kind of Dell Computers. And those guys that were running it got laid off too because Dell was moving their shipping to Memphis. So I wasn't a whole lot of hurt. I was doing whatever I could to stay afloat, working waiting tables at Chili's at the evening, working for FedEx home delivery from 6:00am to 6:00 clock at night, slinging packages. A dollar delivery, wow. You know, recycling cans, whatever I could. Just trying to get our assets out of the sling. Yeah. And you know, fortunately for me, a buddy of mine, I got a job working at JP Morgan Chase back in the finances. She was a banker with him for about a year and a half, did really well there. And a buddy of mine that worked with me and also got laid off, he started a mortgage company with another two real estate investors, Bob and Jamie. Bob Leon, Eddie and Jimmy Kayla, they're here in Austin, Texas. And he said, man, I'm. This was back in 2004 when the mortgage industry was hot. He's like, we're traveling, going these big real estate expos and summits. I need help. And so I went and had lunch with us. Okay, this is what I want to do. So I'd licked my wounds, you know, from failing. And we'd gotten rid of our two investment properties on short sale. I was doing a loan mod on my primary, were able to keep it from going to foreclosure. So I kind of got my teeth kicked in as an investor in the first side of, you know, first side, first round. Right. And when we, when I left JPMorgan Chase as a mortgage banker, I went in as a, you know, doing mortgages and mortgage broker. And from 2004 to 2008, I really had a four year apprenticeship. Not only was I doing originations and doing mortgages on investment properties and traditional properties across the country for people, but Bob and Jamie, I mean he and she were two of the smartest people I ever met. They taught me creative financing, they taught me wraparound mortgages, they taught me distressed debt they taught me, you know, all sorts of ingenious tactics that I still use to this day. So I was very fortunate and blessed. But now I just go to all these seminars and expos? And sit in the back room and learn for free, you know, and so I was very fortunate in 2008, when everything happened in the markets. I sold my half of the mortgage company for a buck, basically, and then just started dialing for dollars. I started calling the same banks and lending institutions that I'd been originating loans from and. And started tracking down these distressed debts that I had learned about from Bob and Jamie. And then I also had another investor who mentored me who made his fortune back in the 80s during the savings and loan scandal by buying a lot of debt. So I was just fortunate. I just started making 50 to 100 phone calls a day. In 2010, I sold everything I own here in Austin. I'd gone through divorce and ended the partnership. And I said, I see an opportunity here, and like many people, I like to write down my goals at the beginning of the year. Okay. And so I said, well, look, I gotta put something down.

Fun.

I said, what would it be like to go to. I'm a big baseball fan. Okay, so what would it be like to go to all these. To go to all the major league baseball parks in the year? So I literally wrote it down, and then I went and actually found the schedule for that year, and I did this fictional journey to go to all 30 angelic baseball parks, and it'd take 30 weeks. And I was also starting to share my journey, like you guys are doing. But before podcasts, I was sharing with Facebook videos and a live video, YouTube, just talking about what I was doing and working on. And I started having real estate clubs reach out to me, and they were like, hey, I saw your article. Can we use it in our blog? Or would you like to come speak to our real estate investment club about what you're doing? Because I started to flip some deals and. And make some money, make some things. I was like, yeah, when do you want me to come out? And then the dates they gave me lined up perfectly when I would have been there for this fictional trip. Wow. Total divine intervention, man. Wow. Okay. God. I'm listening. You ain't gotta tell me twice, right? So. So I sold everything I owned. I had two. I started to fix and flip properties, and it's rentals. I tilt the rentals off, and these last two fix the flips I've been doing and sold everything I owned, had a Garage sale over two weekends and then jumped in my truck with some clothes and my dog. I couldn't sell the dog off. Not that I want to, but I thought I'd spend like, you know, 30 weeks traveling. That 30 weeks turned into over four years of traveling and speaking at investment clubs across the country, meet with banks up on the east coast and west coast and everywhere in between and buying a lot of stuff. I mean, it's been an amazing 10 years now. Almost 11 years when I look back since I started that journey. Austin's been home and we've bought over a half a billion dollars of debt. Thousands of thousands of deals. Well, the thing I'm most proud of is the fact that We've got over 2,000 videos online and our podcast. But we helped so many other investors, new or seasoned, know become note investors, understand the power of paper and the different options you can have. And being a lean work versus a landlord.

Well, you know what, hey, there is a guy up for adoption right now. He's looking for a nice family. So, you know, if you're ever looking to adopt, you know, we got them right over here for you.

I don't have any two legged kids, not that I know of anywhere. We've got some four legged kids. But here's the thing I just love. But it's a different world today than it was 10 years ago. And for those that are hungry with podcasts and YouTube videos, there's so much information out there. Like I just, I talked yesterday, I taught a one day class called Note weekend and I'll send you a link to the replays. All of you guys can watch it for free. Oh, thank you. And if anybody's listening to this, what's a code that you'd use? What's a code we should give your.

Listeners for free today ones? Yeah. Day one, day one.

Okay, so if you go to noteweekend.com and hit the, you know, to sign up for it and use the code day one, make it all caps, no space, they'll get it for free as well. How's that?

Nice.

It's a 49 class with over $1000 of bonuses, 1500 bank contacts and a bunch of other stuff. But over over 20 hours of training and videos of me teaching the note business. Nice, nice.

Now you mentioned creative financing, so I assume that you didn't use a lot of a lot of your capital at.

Times because this is basically. I didn't have a lot back in 2008 going through the force or having to get rid of A couple of investment properties. So I had to use other people's money. I still to this day use about 95% other people's money. You can find IRA investors just about every county people who have used use their self directed IRA account to buy a property. You can jump on like the appraisal districts and find their names and information and mail them. You could jump on the county recorder's website to find people who have lent money by doing a deed search and searching for Equity Trust or Quest Trust or pensco, whatever those out. And that's, I mean you literally in minutes you can find hundreds of people that are investors who have money who have pulled the trigger. And then we all know every investor is always looking for more deals. Right, right, right. So that's an easy way that we, we raise a lot of capital that way. You know, I would love to say that every deal is a home run grand slam. We get a lot of singles and doubles, you know, and we love singles and doubles. We have a few home runs and then we also have some ones that we strike out with. Just like anything else, you know, the bar drags it out or especially Covid kicks in Instead of foreclosing 60 days, it's a year plus, you know, and it changes the whole situation for a lot of times. For the most part, you know, yeah, we use a little bit of our own capital, but for the most part, it's been OPM all the way. That's the beauty.

I got you. I got you.

I like the concept because a friend of mine, we were talking and he was saying you can't really make it out here without debt. You know, there's, there's the bad debt and then there's the positive debt. So that's one of the things that I'm trying to get into with building credit, using my debt wisely and using my finances wisely to my benefit.

That's smart. But here's the thing. Don't wait for your credit to get where it needs to be or your lines of credit could take action. There's plenty. There's millions of dollars, billions of dollars out there just sitting there not making anything. And I see that a lot of people like, oh, I'm like, get my lines of credit up. That's great. That doesn't mean not do that. But literally, if you went to, if you jumped on themeup.com and looked for real estate clubs in your area, or you jumped on like the county records, there are millions and millions of private investors out there or real Estate investors that are looking for deals. So the gold. You probably heard the saying, he who has the gold makes the rules. You guys heard that before? Yes. The gold's not the money these days, everybody. The gold is in the real estate.

Right.

And the deal flow because everybody's. I mean, look, I know people in California who slice their grandmother's throat for a 4% return on investment for a property. 4%, yikes. It's ridiculous. But that's, that's a 4% cap that you're looking for. But that's the thing is I don't buy a lot in California where it's like a half a million. Might buy a doghouse. In some parts I can buy 500,000. What? I could buy 10, 10, 20, 30 notes in some parts of the country. Yeah.

Especially here in Arkansas. Jesus. 500,000?

Yeah. You know, or up or Memphis or Columbus, Ohio, Detroit. I bought a lot of great property at the neck of the woods, you know, Florida, God's waiting room, as we like to call it. There's a lot of property down the neck of the woods that you can buy the debt at pretty cheap prices.

So you. So you buy all over. You. You don't. So, okay.

All right.

So you do the research online and you don't necessarily have to look at. Because this is all about just the borrower at that point. You're just doing research on the borrower, not necessarily the property.

Right? Well, no, you need to know the value of the property to make sure you're buying it at the right, the right price. You need to check the taxes. But here's the biggest thing. I don't need to go out and look at the property. Okay. Myself. Right. You know, there's a very powerful tool called the Internet. You know, there's Google Maps, but there's Realtors everywhere. There's investors like you guys everywhere. You know, so if I'm, you know, that's one of the big things about networking online is. And when you have a podcast, you've got listeners all across the country, all across the world. Right, Right. And so leverage that, you know, jump on different Facebook groups or meet up groups or LinkedIn groups. Hey, I got. I'm looking at a property and like, I'm in Austin, Texas, home. You know, if I need something in, say, Miami, Florida, I'm gonna jump online. Either reach out to somebody that I know in Miami. Hey, would you mind driving by for me, taking some photos, making sure the property is still there, or that it doesn't have a lien on it, you know what I mean? Yeah. Got you. Like I called my, my boy Jonathan Burton down in New Orleans, he drove by a property because you have that property still there. It ain't a slab float away, you know, but that's it. People will do that there. If you can't, then you pay a realtor 50 bucks to go do it. Or if you're going to buy a portfolio, you know, maybe you jump on Southwest Airlines and fly cheap to fly into a city for a weekend to look at a bunch of property and then fly back out. But you don't have to look everything, touch it, feel it, you know, rub on it, whatever you want to do. You know, when I get a list in that's, you know, I map it to make sure it's not in a rough area or you know, make sure it's the right type of property that we like. You know, make sure that it's not a good looking property next to burnouts or anything like that in south, like south Detroit or stuff like that. But the power of the Internet and you have to realize that there are professionals like there are in your hometown, everywhere in the country that want to work with you to find, make deals happen.

I got you. That there Detroit, man, that was one of those high risks for me because it seems like it's always a break in happening and I don't know, just.

Well, you, you need to check your zip codes because Michigan means money. Okay, I got you. Hey, I need to get one of.

Them little sound machines.

Yeah, I need, I need one of them sound machines. Okay, Michigan's been great. I love Michigan. I love Ohio. People give Michigan a bad rep because of Eminem, an 8 mile, you know what I mean? Come on. That's not the whole state. That's like two zip codes south of Detroit, right? There's Michigan is a beautiful area. Lan Sing Bay City above the lake, Ann Arbor. Even Flint. I like Flint. So people like, why you like Flint? Drinking the water, right? You know, and if I could pick up a property that maybe is only worth 30 grand and I could pick up like it for 7,000, but it rents for $600 a month or the borrowers paying me $400 a month, man, I will dance. Right? Because that's what it comes down to. So many people get emotionally tied into what the property look like or what the news say. Yeah, there are deals on every city if you know where to look. You just have to kind of take the emotion out of it. That's really more than anything Else about the note business is looking at a spreadsheet, running some numbers, knowing what your ROIs, figuring out, kind of upfront due diligence and going from there. I mean, yeah, if the property's horrible words and a very bad gang, like, I don't know. I don't like South Chicago. I bought a lot of South Chicago. But Chicago is a very corrupt legal system. It's hard to foreclose, it's hard to evict. There is a lot of vandalism, but that's okay. I'll buy other parts. I'll buy in North Chicago. I'll buy in, you know, outside in Lake county, sort of at Court County. You know, the beautiful thing, ladies and gentlemen, there are deals everywhere. You just got to know where to look. And that's the thing about banks. When I get a listing, it may have stuff in 30, 40 states. And so while that can be very overwhelming at first, I always tell people, hey, pick up if you see something in your state. Great. That's a good starting point. But pick out two or three other states that are nearby or where you have family and friends at that you can really dive into. So like with Arkansas, there's a lot of stuff in Alabama, south of there. You'll see some stuff in Arkansas, but not as much as you would say, like in Tennessee or the Carolinas are a great state. South Carolina's about a year to foreclose. North Carolina's a lot faster. But stick to your bigger markets and you're going to be fine for the most part. Wow, man.

I'm getting. I'm getting so much information right now. It's like I'm mind blown right now. This is what I needed.

This is this his head.

I just been me this whole time. You ain't lying.

Yeah.

So.

And I know you kind of. You really touched on note investing and how you guys go about the process, the process that you guys use now. So let's say if I was a new person, I didn't know much about note investing at all, but I wanted to get started. What's one of the few steps that would help a new. A new beginner to get started?

I love that you asked that question. That's very important. First thing is don't go buy anything. Yeah. Because you can really do stupid stuff by thinking you know something. So the first thing anybody has to do is get educated. Because buying a note is completely different than the fictional TV show of Flip this House or Flip or Flop or all this. Okay. That stuff is fictional. It's all dramatized. Okay? So you really gotta understand. So the first thing is get educated. And the best way to get educated is take some education online. Go to your local rea clubs, your real estate investment associations. I know a lot of them aren't meeting the person yet, so maybe they don't have online meetings. Reach out to people that are doing what you like to do and talk to them. And anybody that just tells you that they've never struck out on a deal or never had a bad deal is lying to you. Or they've done one deal and that's about it. So talk to somebody who's closing on deals. Hey, tell me a recent deal you've done in the last 12 months. Tell me something a good, a medium, and then tell me a bad situation. Because you learn more from your bad deals than anything else out there. And one of the biggest mistakes I made early on was I came into the note business knowing the note business a little bit, but I had the mindset that I was going to approach it from a fix and flip side. Like I was going to use notice to buy the property. Forget the borrowers. I'm going to foreclose on everything. Well, if I'm foreclosing everything, I'm paying attorneys every month now to handle legals, and then I've got to fix the property up. This could be 3, 6, 9 or 12 months. Wow. If I would have just worked with the borrowers more on the front end, somebody would have been paying me in month one. I would have never had to pay the legal fees or the foreclosure fees or the rehab fees because somebody's living the property, taking care of it. So approach it as a banker's mindset. Not a fix and flip mindset, but get educated. I mean, that's why we've got thousands of videos on YouTube. If you go to Weclosenotes TV, you can see our thousands and thousands of videos out there. That's why we have the podcast, the no Closer show. It's me teaching a nugget a day. You know, nugget an episode half the time. The other half is me interviewing vendors or real estate investors or people of mindset, you know, that help entrepreneurs and business owners. But that's the thing. If you're gonna learn anything, you've got to spend some time on it and you got to be ready to pull the trigger. You can't be like a brain surgery who takes 12 years of school but then never, never cuts on anybody. So, you know, learn the Basics. Learn some information. Find out somebody who's actually walking the walk, not just talking it. God knows there's enough fakers out there. Yeah, there's enough faker people out there. But reach out to people that are doing it. Who do they learn from? You know, ask them who they learn from and then just do your own research. Check into it. And then there are. What's the beautiful thing I tell people too, is like, there's some different websites that are. We don't have like an MLS for notes like they do in every city, but there's like some platforms like Paperstack.com or Watermark Exchange or like my servicing company, Madison Management. They've got a, you know, a list on there, some notes that are available for sale. So go on there, look at. Take what you learn and apply. Evaluate the deal like you're gonna pull the trigger on it. What would you look at? You know, what's. What's the likely. What's. You know, do some social sleuthing, you know, stalking bars online.

Right, Right.

What are they doing? You'll find some interesting things online.

Hey.

Yeah, we had one bar who's like, oh, am I gonna pay my mortgage this month or take my kid to Disney? And he's like, oh, Disney wins. I'm like, no, you lose. I hope that was a good trip. Another bar who's out of Missouri, who was going through a bit of a transition. He was gonna pay for it. He said, I'm not gonna. I can't pay for my mortgage, but I'm gonna pay for my breast implants. I'm like, wow. You know, but then we've also see other stuff, like there's a guy in Chicago, North Chicago, he was an author, and he broke his leg so he couldn't go out and speak and talk. And so we were willing to work with him to keep him in the house. Then there's another one we bought down in Jacksonville, an older lady who was barely on Social Security. You know, it wasn't her fault that the property values had dropped quite a bit in her neck of the woods. So we said, listen, if you'll just pay the taxes. And she didn't have any family. Just pay the taxes. If you can, just pay the taxes, stay here as long as you want. And then at the end, when you pass, we'll just deed the property back to me. Just sign the paper. So when you do pass, I don't care if it's a year or five years or 10 years, just pay the taxes. And when Everything happens, then boom. If you want to sell the property, sell it. Then we'll give you a profit of some sort on that to try to make it with it. That's the thing. Just got to get educated. I mean there are a lot of twists and turns, a lot of moving factors with anything, you know what I mean? But I like the fact that I can do this business from anywhere. Whether I'm here in Austin or, or I'm in Florida at Disney or on a cruise ship or in Europe or traveling. As long as I've got Internet connection and my phone, I can reach out and talk to people, I can find deals, I can market things online. And it's all about the 21st century and it's got. There are zero excuses for not being able to educate yourself and dive in any type of real estate investment strategy. And that's the thing. Maybe notes aren't for everybody, but there is something. So do something versus just sitting around. Oh, I wish. Well, I wish it doesn't do any good. Yeah, put another four little work. Gotta put a little work into it, right? That's right.

And I was, I was thinking something too. So I know you touched on education and educating yourself. So what about if you wanted to get started but you don't know if you need money up front or not?

That's a good question. Everything's. These days we're not all in the real estate business, we're in the media business. But more than anything else. So you're gonna have to have something for some marketing more so than anything else. Okay, so like marketing these days, what I mean by marketing is not, you know, postcards and yellow letters. I'm talking like an email service like mailchimp or something. You've got to spend a little time like with maybe marketing on social media and using like a Canva like 12.99amonth or something like that. If you're going to be buying a note or something like that, there are going to be some due diligence costs once you go under contract, you know, you'd have to pay for like a BPO from a realtor and then get a title company to pull a title report for it. Those are some things that cost. And then there's a monthly cost for servicing, you know, from the servicing company of 90 bucks or 25 bucks, depends on what's performing or non performing. And then if you need to foreclose, then you got to pay an attorney, you know, from 1500 to 5 grand or beyond the foreclose. Yikes. Yeah. So it can take a little bit. But here's the thing. Why I like buying non performing nuts is I can buy this stuff usually cheap enough that I can get my investor that's going to fund the deal to fund extra to cover those costs. To cover those costs. If I'm buying at 50% of value, I might have them fund 55%. Okay? That extra 5% covers those costs. And then, you know, I don't end up using every dollar. So a lot of times we can build a slush fund that covers any other expenses or other things. You know, if my investor asked, well, what's this $500 extra you're adding for marketing? Like, hey, it cost me to market? You want me to go find deals for you? Right. You know, T mobile does not accept, you know, Starbucks gift cards. Right. I gotta look through 100 deals or 20 deals to find a really good deal. Okay. So it takes some due diligence and time and, you know, experience too. You know, I spend a little time to understand it. That's one of the big things I tell people about. If you're looking at a deal, don't be afraid to pick up a phone call and ask me to look at it with you. Good. You never know. Don't let pride get in the way of you having somebody else's eyes, a little bit more experience and can ask you some things. Every week I field phone calls from investors who are like, hey, I'm getting ready to buy a deal. Do you have a second catch? I'll give you 30 minutes. Did you look at this? And this and this? No. I said, well, you better go do that before you wire any funds in.

So let me ask you this. So if I have a deal and I call you up and it's 30 minutes, how much is that going to cost me?

Free? Really?

Okay.

I give everybody 30 minutes. Now, if you call me like 30 times in a row, I mean, but I get people call all the time, hey, I'm looking at doing this. Which way should I go? Okay, free. Okay. You know, and, and I get a lot of people that will call me, hey, I'm not, I'm going different. Hey, I don't know, I'll be honest. Like, I don't know that deal. Call this person, or I'm not familiar with that, or hey, you need somebody else to talk to, call this person, tell them I sent you them, they'll take care of it. But the thing is, is especially with our students, I, I feel phone calls from our Students and people on our, you know, listen our podcast all the time. They're wanting to get started and you don't want to, you know, you don't know what you don't know. And I understand that. And, and I'm a big believer that if what I give out will come back to me tenfold at some point. Like, a guy today reached out to me. He was on my class yesterday, and he's been following me for over a year. Okay. Following my YouTube videos on my webinars on Monday nights, listen to podcasts. And he finally signed up for something. 49 bucks. I'm like, okay, great. 49 bucks is 49 bucks. Because I, man, I just wasn't ready, you know, I've been so busy with work or wasn't ready. That's fine because you've talked to me like three or four times. Yeah. He goes, I thought he felt like I didn't dispense it with him. Like, you didn't have to. Did you get good education? I got 10 times the amount of value. Like, great, let's move it to the next level. Wow. And not everybody's like that, but that's just the way. I was very fortunate, like I said earlier, with those four years of apprenticeship and having people help me along the way that always promised God that when I got to somewhere where I could help people, I would try to help them the best I can. Right? You know, there's people. My competitors would tell me I should charge more. I'm like, ah, look, I. I am where I'm at because of me just being a normal guy. I don't blow smoke up people's ass. That's a, That's a noise machine that does that, though. You know, just trying to help people. We all, we all start somewhere. We all put our pants on one leg at a time. We all use multiple ply toilet paper to wipe our ass. Okay? Everybody's just a normal guy. And if anybody, it talks down to you or belittles you, look, you're. We're all going to have haters out there. And you just have to pray for people because. Right. Those that will talk down to you will never be somebody above you. It will always be somebody who's going through something on their own. And usually they suffer from PB and J peanut butter and jealous disease. Jealous of the action that you're taking, trying to better yourself and stand out from the rest of the crowd. Hey, I'm at the.

I'm about to take that PB and J.

You can use it. You have to give me credit. Three times. I got you.

I learned it from B. Scott Carson, man.

I would be using that three times and then it's yours.

I got you.

Imitation is the curious form of flattery, ladies and gentlemen.

Hello. Hello. This man is dropping jewels all night, man.

I like that. I like that.

So the, so you pretty much mentioned foreclosure. So let's say you know, I bought a note, non performing note, you know, you reached out to them and you're trying everything to, you know, negotiate with them, try to get, to get to pay the note. And it just seems like it's no hope. Is that when you start the foreclosure process?

Yeah, I mean we are. Here's the big thing. There are third parties that do that for me. As far as like the reach out, there's servicing companies. You don't, I don't call my borrowers. Okay, you don't do that because it's not like they're a tenant. You have, it's. When you're dealing with debt, you're dealing with a whole different aspect of like professionalism. You have the Consumer Finance Protection Bureau that covers the fair debt collection practices. Like I can't call somebody, like Sunday night at 9 o', clock, I'm gonna send my buddy James over to you with a bat. So the servicing company reach out and I always say, look, if they won't respond to us in 60 or 90 days depending on what's going on, then we do, then we have, we get our attorneys involved. They, you know, they send out a demand letter, you know, like a shot across the bar. They won't respond. Then we'll go the foreclosure route and that will vary time frame on a state by state basis. Sometimes like here in Texas, you know, we have very fast foreclosures like everything else, fast highways, fast foreclosures and fax executions. Yeah. And then you have states like New York, New Jersey, especially like New York, you have to hire an attorney to talk to an attorney to have an attorney. And it takes like two to three years to foreclose and over ten grand. So I stay away from really long foreclosure states like New York, New Jersey, Puerto Rico, Cook county. And I like, you know, mid sized judicial and non judicial foreclosures like Texas and Georgia are non judicial states where you can foreclose pretty fast to go through the court systems, but you still need to have an attorney do it for you. And then you have other states like Florida or South Carolina, that are judicial foreclosures that you've got to go through the court system and, you know, file that and wait for a docket and go through that little bit. But the beautiful thing is you're buying in those states where you do have a longer foreclosure time frame, you usually get a little bit better discount on if the lender had already started the legal process. Now if they already started it and they're about done with it, then you're going to pay a premium. But they hadn't started and you guys start, you know, kind of from ground zero, square one, then you should get a little bigger discount on it.

Okay, so when it does go through that foreclosure process, you know, everything is taken care of. It foreclosed, do you guys get the profit or is that when you get the asset?

It depends. It depends. Okay. It's adult diapers. It depends. So if the. Here's the thing. If we do have to take it to a foreclosure auction, I will list. I get to determine the bids at the auction. Okay. All right. So say they owed 120, but the house is only 100. I'm not gonna say opening bid 120. I would make opening bid like 80 grand and let a couple people fight it over. Cause if I can get them to go up to 85 or 90, I'm good. Give me a check. You can take the property. If it doesn't sell at the auction, then we do. It's an reo. Then we gotta file evictions. And then now it's an reo. Now we should do what we want with a property. We can fix it up. We could sell. You turn around, sell it as is. We could improve it a little bit, turn into a rental. I don't like rentals because I don't want to have rentals in 30 different states for the most part. I also, you could owner finance if you wanted to or do like a lease option or stuff like that. I don't like doing that just because if I owner finance it now, I've tied up all that equity for at least 12 months before I could tap out. So it's always better in my, my numbers for me to sell the property, get my, my profit back, pay off my investors, or double down. That one property that we bought turned into two or three. Now I've got three properties. Now those three turn into nine. Now those nine turn into 27. Because the fact is, you know, if I can take it versus, okay, I'M gonna try to keep this for a rental. Well, now you've got to deal with the rental and property management and land and you know, tenants, toilets, tents and trash out versus the note business. So you're always going to find success faster in any type of endeavor by just being focused. This is the one big caveat about like real estate clubs or real estate investors that I dislike. No offense, but the idea that oh, learn this strategy to add a tool to your tool belt, you know what I mean? Or learn this strategy, learn this. Strategies are great, but they don't always work in every market. And if you're constantly learning new strategies, you never have time to implement what you've learned. You know, if you're gonna be a landlord, great, be a landlord. If you're gonna be a wholesaler, be a wholesaler. You're gonna be a fix and flipper or suck it to guy or gal or gonna do some options, whatever, that's fine, just try to stick to it. If you keep trying to do everything, you'll end up getting confused and it'll water down your success and go from there. And you gotta realize too, it just takes time with anything. If somebody tells you, oh, this is a get rich quick scheme, no, it's not. Real estate takes time of working. And marketing, you gotta put some hours in education we talked about, but honestly, 80% of sales are made after the fifth contact. So I gotta contact banks on a regular basis. If you're trying to find properties, you gotta do a lot of marketing. You know, with anything that you do that marketing can be either cheap or free or it can cost you money. But you guys just got to figure out what systems are going to work best for you. Like I said, notes are not for everybody. A lot of engineers flip out because there's different strategies that happen, you know? Right. We do get a lot of landlords that come over to the note space because they're tired of dealing with tenants and they want more passive stuff. We get a lot of people that want to make a good return on their investment versus putting the stock market. So they may go buy a performing note and use that to get a 6 to 12 return on investment possibly. So that makes sense, guys.

No, it's definitely. Yeah, no, I definitely appreciate the knowledge, man. Like I said, you've been in this with them, man. This is a side I did not know about, man. So this is definitely some, some.

Hey.

Look you power.

I'm feeling powerful right now.

I really like the part where you.

I'm invoking the Higher Return spirit inside of you. Welcome to the Church of Higher Return.

Hello. Hey, I heard that a real estate.

Revival up in here.

I really like the part where you, you touched on, you know, like a lot of people just jumping from, you know, different things because I mean it really just shows the importance of allowing what you're doing at the moment. Allow to build momentum so that when you can, you like if you want to expand it, you can. But like you said, if you just keep hopping from one thing to another, you'll never be able to see it. That's what somebody told me not too long ago, like years ago. But yeah, I thought that was pretty cool.

I think it's, you know, as a grant card down, this is, you have to. Well, maybe it's not grant currently, but to be an expert, anything, you got to spend 10,000 hours in it, you know, to be an expert, you know, And I look at all these and traveling from 2004, 2008, I was around all these investors that were going to these workshops and another workshop and another workshop. When I see them, I was like, oh, hey, did I just see you last month? And they're like, yeah. I'm like, well, did you do anything that you learned there? Oh yeah, we sent out a bunch of letters or we sent out a bunch of postcards. Like, did you, are you getting like leads? Oh yeah, my phone's ringing off the hook. I'm like, what are you gonna do? Oh, I don't have time to call them back. I'm so busy going from workshop to workshop, I don't have time to call my leads back. And I was like, you're driving 50 grand in education, but you're missing out the $50,000 opportunity. Right? I'm like stepping over dollars to save nickels and dimes. Unfortunately, a lot of people like that. But you know what I say before, just look, it's a crazy market out there right now. I mean, who knows what's going to happen over the next month if, you know, they're going to extend this foreclosure or eviction moratorium or we're going to have a big, I mean 2021 is going to be a different year than 2020, thank God for most of the people. But I mean, what's really hurting right now is a lot of commercial property owners, commercial lenders, because our banks have went out on like small balance commercial properties because now the vacancy rates are up. You see business going out of business.

Yes.

Hotels, you know, are vacant, holiday areas are Vacant. So you have a lot of people hurting that way. That's really going to be the biggest opportunity, I think, in the next year, is buying this commercial debt at big discounts and either working with the existing tenants in place or trying to put somebody new in or pivot the property for something else.

I got you. I got you. You definitely came in and dropped some knowledge, man. I definitely appreciate that. You know, you kept it real with us, and that's. That's one thing that we always stress, man.

Give it.

Give it to us raw, you know, what is it?

Is it. I was just watching the Dave Chappelle reruns on Netflix. Keeping It Real with Scott Carson, everybody. Hey, look.

I gotta add that, man. Yeah, you definitely kept it real with us. And, you know, I appreciate that because if I were to, you know, try to learn more about this, you know, I always say that I want to learn from somebody that's not going to hold anything back, you know, just be straight up with me. And, you know, I.

That.

That's just what I like, you know, you kept it real from the jump.

That's how I like it. I mean, that's how. My dad was taught me that growing up in a small town in South Texas business. We owned the local hardware store. He says, just tell people what they need to know. You know, they can make the decision whether they're going to run with it or not. You know, you can either go this route or you can go this route or this route, and people will pick which way they want to go. And, you know, that's the thing is, look, you may not like what I tell people sometimes. Like I told a guy the other day, he's like, I want to close a $5 million deal. And I'm like, well, how many deals have you done so far? Nothing. I'm like, well, nothing ain't gonna happen. You gotta. You gotta build it up. You gotta learn. You gotta take your lumps and bruises. But you don't have to fail. I mean, reach out network. I love what you're doing with the podcast. That's why I reached out to you, because there's such. Such a need for that these days. And education of those first steps. A lot of people won't take those first steps because they're scared, right? They're fearful of something. And we all, like I said, we all gotta start somewhere. So big kudos to you guys for doing this on a regular basis and then sharing your journey. Right? And if I can help along the way, I'm here To help anybody out there that's listening or any of you guys as well.

That's great. You know, you made a good point about being scared. Because I grew up in a household where my mom was like, no, don't do that, because that'll do this, or, no, don't do that because this will happen. But now that I'm 27 years old and I'm finally out here on the world by myself, Mom's not here anymore. I'm like, mom didn't help me back from all this stuff.

Mom, why you tell me that about moms? Okay, first of all, you probably missed it at home cooking. We know that mothers and people, when they tell you don't do that, it's not that they're holding you back, it's that they come from a limited educational background or. Not that they're not stupid. I'm not saying that. They just don't know what they don't know the knowledge. Right? You're gonna get a real job like mom on one deal. I made what you made in a year. But parents and our loved ones will do that because they don't want to see a fail. Right? You know what I mean? And so when they do that, I always tell people, like, listen, if you've got family members that are against you doing something, the way to flip it is to go Jedi mind trick on them. These are not the droids you're looking for for now. Mom, dad, family, whatever it might be. Look, look, I know you. You're just trying to protect me. I'm serious about this. I've done some due diligence. I've talked to people that are in the way. Support me for six months because I need that we all start off now. Give me support, fully support for six months. After six months or a year, if it's not going well, then. Then. Then you can root against me, right? But I need your support. I need your help. There's enough negativity out there. I'm trying to do something, something positive for myself and trying to vex myself and grow. I mean, if you want to have a million, million dollar mindset, you need to have that hundred thousand dollar mindset first and then grow, level up, right? And my parents are the same way. Limited education, they were fearful and. Oh, careful, we don't want you to fail and get in trouble. Look, we learn the most by getting outside of our comfort zones and growing and learning.

I know that's right.

You can't succeed being in a comfort zone. Right? But you Gotta get off the couch.

Exactly, exactly. Gotta take that safety net off, man.

That's right.

See, that's what. That's what I like about this podcast, because it has allowed me to express my journey. And with that safety net, because I had lost my job in one of the episodes I was saying, and I didn't want to get on unemployment, you know, so I went out and did the. The wholesale. I went out every day, found abandoned houses, called up the owners, asked them if they wanted to sell it until I found my first deal.

Mm.

And you got it. You gotta do that.

And the thing is, how much did you make on that first deal?

I made about three grand.

Three grand. How many hours would you have had to work at your previous job to make three grand? Yeesh.

I'm talking, hey, we putting in over 120 hours. What you mean?

Oh, but that's the thing.

Most people are, like, making, like, 20 bucks an hour or 15 bucks an hour. So if you make it's. Let's just say 20 grand or 20 bucks at 3,000, that's 150 hours. You know what I mean? That's what, 150 hours divided by 40, that's two months. A week. That's a month, basically. Right. And you did that. You found that deal in how long?

That was like, just a few weeks. A couple. A couple of weeks.

Two weeks.

Yeah.

And then it sold in five days.

Yeah, it's sold fairly quickly, but.

But you gotta realize. But the thing is, the. The 1 percenters are the ones that did. How many no's did you get till you got a yes?

Oh, my God. Hey. I can't. I can't even count on my hand.

Yeah.

Yeah, yeah, something like that. Yeah, it was definitely.

Yeah. Did you get 30, man?

Hey, I'll be honest. It's probably like 50, because I was calling a lot.

Yeah. So 50 to. They figure every no is worth 60 bucks. So every now means you're one step, you're one no closer to a yes. And that's one of the things that I did in my note business, is I gamified it. So when I would dial for dollars, calling banks, like, I was trying to get a hold of capital one because I knew they sold a note in my public record. So it took me three weeks and 70 phone calls. So 69 yeses or 69 times I transferred to Pakistan or India. Hello, my name is Steve.

Oh, did we lose Scott?

I think we lost him.

Man. Hold on, let me see. I don't know if it Dang man. Well, I guess we.

Ladies and gentlemen, we got a little technical difficulty.

Yeah, yeah, we having some technical difficulties. We may have. Have lost Scott.

Let me see.

Yeah, okay, We. We coming back.

Let's.

Let's just wait and see. See what it was. But in the mean, in the meantime. Yeah, we'll wait for him to come back. But in the meantime, man, what y' all think about it, man?

Definitely knowledgeable. I love it. I mean, everything he's been saying is, like, powerful.

Yeah.

You know, you can see the mindset as well.

No, no, keep. Keep going, Keep going.

Yeah, you can definitely see, you know, where his mindset is. You know, one thing I like the most, you can tell he has that hustler mentality.

Yeah.

Like, when he was at the rock bottom, you could tell he was out there hustling. I mean, he's making it. He's making ends meet. I mean, the type of jobs that he took on just to keep his head afloat. And I really think that's definitely something that's required if you're trying to get into the entrepreneurial space, because it is a hustle. Every day is a hustle, regardless of whatever you're doing. And kind of like what he said, too. What goes along with whatever you're doing is making sure that you're sticking to it and you're allowing what you're doing to build momentum to push you forward.

Yeah. The thing I like is that, like he said, he had that four years apprenticeship, and it's been over 11 almost. He said almost 11 years now that he's been traveling. And that's one of the things that. When I was reading one of Warren Buffett's articles, it said you can't make a baby in one month by getting nine with women pregnant. It's gonna take nine months to make that one baby. So, you know, in this journey, I can't expect to get what I want just right off. It's gonna take time to build it up.

You gotta.

You gotta start with that penny. That penny into a dollar dollar into ten.

Let it compound.

And let it compound. Let it keep building up.

Let me get. Is that.

Yeah, yeah, yeah, yeah. He's back. He's back, everybody.

Awesome. There we go. Okay.

Okay. Sorry about that.

No, no, it's okay. Did you see. Nice. Do you see the photo I just had? You guys, like, all froze at one second, man.

Yeah, it's the WI fi, my brother. It's the WI fi. You know how they go technology.

That happened to me this week as well, too.

Yeah, yeah, it is what it is, but that's. That's what it's all about. It's a learning thing, you know, so we all just, like I said, we just keep it raw and we just go with the flow, you know, whatever happens, happens. So where can our listeners, you know, find you if they wanted to get a mentor by you or something like that? You know, what can we do?

The best way to reach out to me, connect with these. First, I would just go to my website, weclothesnotes.com youm'll find out everything we got going on there with our podcast or educational classes, our videos, our training, our blogs on different things. That's the best place to go to if you'd like to. You can always find me on social media at most things at one. Scott Carson. And if you'd like to schedule a call just to pick, you know, pick my brain or ask me some questions, you can always go to talkwithscottcarson.com 30 minutes with me.

Got you, Got you. And like I said, we'll definitely put all this in the description. So whenever we get off here, Scott, just make sure you send me the links and then we'll post that and. And, you know, we'll get that up and going. And, you know, I maybe end up taking one of them calls myself.

I am glad to help. And Lavon, you know that I've got a good network of other people, too. That podcast that you're in that group as well, so use it. I mean, leverage it. That's what we're all here for, man. Yeah, we've all got a journey, and everybody that I know that I recommend, they have a big heart to helping people get rock and roll, too.

Yeah, I really do. Yeah, I appreciate that. Not. Yeah, that group is definitely a encouraging group. And, you know, I see them asking all the time, how can they help? So I'm definitely, you know, going to reach out in that group. And I appreciate you for putting. Putting that all together, man. You don't. You don't find too many people like that that's willing to help somebody that's, you know, just up and coming, you know.

Well, that's the thing. Like, when I got started as a podcaster four years ago, I had a lot of questions, and there's a lot of theory about how to be a great podcaster, but they don't tell you how to do it a lot of times and how to network or how to. How am I doing or when. What can I do better to. For my show. And so that was one of the things. It's okay. Let me help people. Let me put a group together to network, you know, cross pollinate everybody's, you know, podcast or business and just be a resource of any way I can for it.

I got you. I got you Again, you know, for, for the followers out there, make sure y' all go listen to his show, the note closing show podcast he does. As you can see from this episode, he definitely dropped some knowledge. So if you guys are interested in that, definitely go check him out.

If you.

And you know, like I said, this man, he's been great since day one. Since, you know, talking to me, he's been encouraging me. So definitely, you guys go, go, go go check his. Oh, dang, I messed up.

Go check him out.

Yeah, go check him out.

But if you're listening now, do everybody a favor, click that subscribe button to listen to their podcast and go and leave a five star review. Because these guys are hustling, they're delivering content and they're baring their souls publicly. Nobody. You know what, we all got started somewhere, but leave them. Let them know that. Let them know that you're listening. Those comments and those reviews mean a lot to us as podcast. It lets us know that, hey, somebody's actually listening to me talking into this microphone.

Hey, exactly. Because for a time, I ain't know, Scott, I was like, I ain't getting no feedback, man.

I ain't getting nothing, man. You know what? They used to do that. They used to call that schizophrenia.

Hey, I guess I possessed that for.

A little minute, man.

I was, I was definitely bearing my soul. Yeah, you ain't lied about that. So I definitely appreciate you for, for hopping on Scott, man. It's definitely been enjoyable and you know, I wish you the best in your future endeavors. You know, you already making buku loads of. Of process and money. You know, I'm trying to get to your level. You know, we, that's what we're here for. We all, you know, trying to learn and, and you know, make something happen for our lives. You're trying to do something different, man. So I definitely appreciate that, Scott.

Anytime, guys. Anytime. Glad to help. Honored to be here and glad to serve.

All right, so again, man, we're definitely gonna put. Put everything in the description, including the, the promo code, so that we can all get that, that content from. So again, Scott, thank you for coming on the show, man. We look to see you in the future, man.

Sounds good, man. Same here. Be safe. All right.

Man. You take care.

Thanks.

All right, let's go ahead and sign up, man.

So.

So to my left, who we got, man?

We got. Ooh, Johnny, taking you back like I.

Do so well we got LD Gasto, French.

French.

We, we and we are.

And lastly, we got. Well, not lastly, I forgot. We got Terry Gaston, T Rock closing out.

All right, go ahead, Scott.

Hey, Scott Carson, the note guy from Austin, Texas, saying thank you for listening in here, guys.

All right, so you guys take care. And we out. I don't care who they try to send for me Player in the game I will orchestrate the symphony Send the bells flying through they blow Brain like a memory Try to change my ways But I guess his life was meant for me Looking at me like the chosen one yeah, it's meant to be Leave them in the past RIP man.