Session 17 - The Note Investor's Toolkit: VAs, AI, Vendors, and the Power of Action

All righty. Well, good morning everybody. Hey. Welcome to day three of our virtual note buying workshop. We've got quite a bit to cover today. Hopefully all had a great Saturday evening. Always love to do a quick little recap on what you might have learned. Big nuggets from day two. Or if you're just remembering day one, which is fine, what are some of your nuggets from day one? Day two. And as we roll in to day three here today, obviously I think one of the biggest things is, is using the county records to find IRA investors. Whether it's the recorder's office for those that have lent money or it's actually the appraisal district for those who have bought property with their self directed ira. And I always love, like I said, I love using AI artificial intelligence to help me come up with the the guts of an email campaign or guts of a letter campaign. It's one of the coolest things that we I'm not going to copy paste it over. I'm still going to read it. I'm still going to take the time to customize a little bit until you get to the point where you're using the same kind of AI. Like I will go between couple cool things that we like to do. I'll go between using Chatbot app which gives me like five different AI sources for material, image creation, that kind of stuff. I also will use Google's AI. You know, Gemini, I use all. You also use Grok. Give you a bit of an idea. Rock is Twitter's AI. I think that's really a great one. And there's a couple services that I use elsewhere too. Like I'll use Delphi AI, which is my AI clone. And then I'll also use Claude when I'm searching, researching some things. You know, most of your tools will have, you know, your websites. Like we use Canva a ton for our image creation. I can actually drop, I could literally drop a, you know, a summary. I could drop a video into the transcription and then it can create slides, a slideshow for me. I could drop an article like the top 10 reasons things like that drop it into Canva and Canva will create slideshow for me. I found though that a lot of image creation, especially doing PowerPoint stuff like that, you get beyond 10 points and it bogs down. AI does get lazy. So you have what we saw Yesterday with the ChatGPT 5.0 got a little lazy. So I went over to 4.0 and it worked fine in pulling and creating a letter campaign. The idea Here is not to over complicate things. I think keeping things simple is one of the most valuable things that you can do. And that's why we kind of came up with that 30 by 30 marketing matrix for you. Simple things you can do on a daily basis, simple things you can do on a weekly basis, and of course, simple things on a monthly basis. Your most important things, you know that's going to be your email campaigns. Those should be your number one priority is getting an email campaign out to your database on a weekly basis. And I don't care. Look, here's the thing. I think a lot of us folks want everything to be extremely perfect, right? We want our website to be perfect. We want our pitch deck to be perfect. We want our LinkedIn to be perfect. Look, if, if everything, if you waited to take action until everything was perfect, you wouldn't get anything done. I always like to say, send the damn email. I was out coaching in California with two of my previous coaching students, Aaliyah and Terry Garner, and they do a lot with mobile home parks. Now they use Instagram, one of the niches that they're in. I was out coaching with them on raising some capital and note business. And we were sitting there in their offices and I said, you know, your database is how big? And they're like, oh, it's about 5,000. Not very big. Like no, no, no. 5,000 is more than what most people have. Okay, my 65,000 is kind of a rare aspect. I could have my database be a whole lot more through some of the different marketing tools that we use. And I'll share a couple that I forgot to talk with you guys about yesterday on some list building stuff. But I said, well, let's you having a CRM like yeah, so let's use constant contact. Constant contacts free, not constant contact. Mailchimp is what we use. So we upload the list to them. I said, let's get a newsletter out to your database. And so we were putting it together and they were all being, oh my gosh, it's got to be exactly perfect. And we spell checked it and they wanted the image to be perfect. And I'm like, we have sat here, it was written an hour ago. We've sitting here now for another hour being nitpicky on things. People don't give a crap about the little nitpicky things right now. Some people do. And if they do, guess what, Most of the time you know they're not going to be your ideal client if you misspell a Word or you get an image a little bit off, right? Who cares? Send the damn email. You worrying about being perf, being perfect is stopping you from having success. Okay, I don't mean that in a new fashion. I see that happen all the time. Like if you were waiting, like I said, literally, this iPhone is what, iPhone 14 or 15, they got this out. It's, it's, it's perfect. It's a whole lot different than it was when it first came out. Right? But if Apple had waited to be perfect phone, they'd never listed anything out. And that's why delivered beats perfection every time. The first person to market is usually going to beat somebody that waits around to be perfect anytime. Okay? So that's the thing. I want to challenge you all as we're going through today. And one of the things we'll wrap up with today is an action item list for the things that you need to put in place and things you need to start taking action on. If you're waiting for everything to be Perfect, all your LLCs, your websites, your blog, your IRA accounts, whatever, to be perfect. Look, you're behind the eight ball already. Don't do that to yourself. Start that communications process, start that outreach. Start dropping an email blast out to your database tonight. Hey, I just wanted to reach out to all, buddy, safe travels for Thanksgiving. You know what I mean? We have one of the easiest weeks ahead of us for marking now. What I mean by this easy week aspect of things? Well, we got, you know, everybody's already talking about Black Friday sales. I mean, Black Friday sales are so over blown. Right? And you know, will we have something that goes out? Yeah, we probably would. Yes. That's right. Jeff Jefferson Baker done is greater than perfect. Amen to that. And that's one of the things, there are some tools that you can use to start this target. But like I said, get an email blast out here. Wish everybody you got a thanks, Happy Thanksgiving, that's a great start. And then you roll into the first of December. You know, we really realistically have about two to three weeks left of business in 2025. You know, people are gonna be taking half the week off. I mean, I'm basically not working Wednesday, Thursday, Friday of this next week because we're taking off Tuesday night. Gonna go spend some time with family. Things are gonna shut down. So it gives you an opportunity for Monday and Tuesday to get a little bit of work done and then set up an email that goes out to your entire day. Hey, like I said, Happy Thanksgiving, everybody. And then look at, you know, taking that list of asset managers that we showed you guys how to pull, whether you're gonna buy it off of Lane Guide or you're going to go on Octopus CRM and start using Octopus to start reaching out to asset managers. These are little things that build momentum and gain a lot of traction. Not only will Octopus help you reach asset managers, will help you grow your LinkedIn and go from there. But don't sit there. Like I said, don't worry about everything being perfection. You're not competing against me, you're really competing against yourself. And I don't say you're competing against other note investors because I get that question all the time. Well, Scott, isn't there a lot of note investors out there? Yeah, there's more note investors now than there were 20 years ago. But it's still such a smaller, smaller niche when compared to the fix and flippers, the wholesalers, the syndication guys out there. And we have such an opportunity in A, making money, helping people stay in their house or get a bad situation, or B, buying this distressed debt that banks and lenders don't want on their books that there's no real competition if you will market. All right. I always laugh because when I've gone to different conferences and expos, you always get people that would say, oh, there's not any note deals. Well, what. Let me give you a little bit of an idea what my thought on there. No, no deals out there. I think you already know it from being around when a lot of us got started as a note investor. When everything happened in 2008, 2009, honestly, most of us thought it would be about a four year cycle. We thought we had four, maybe five years of good stuff. Well, that was 2008 or 2009, but that puts us at 2014. That's over a decade ago. They're still not performing stuff out there. Now, are we targeting the newly originated stuff in the last year? No, not really. Are we, Are we targeting stuff that was two years ago, three years ago with a low interest rates? No, not really. You will get some stuff like that. Yeah, you'll take a look at some stuff. But what we really are seeing stuff that was five, six, seven years ago, 10 years ago, we're still seeing that stuff where the great thing is that we have what, 80, we'll just say 85 million homes in America with some sort of mortgage on it. That's not, that's a lot of opportunity. If we're at a 3% default rate, that's 2.4 to you know, somewhere around 2 to 3 million dollar million homes that are in default distressed. That's not often including the owner finance. That's not including the small balance commercial stuff that's out there. That's plenty of opportunity. Now are you gonna buy all that? Heck no. What do you need to change your trajectory? As we talked about late on Friday, you need somewhere between 14 and 25 notes to probably change most of yalls trajectory. You know, you got 100 grand coming in on autopilot with performing notes for a year and it's pretty good. Some of you, you make more than that in a year, that's completely fine. So just double your numbers. The thing is is you've got, if you're working in a job, you don't need to quit your job. Use the time that you have to build your Runway of passive income coming in by going out and buying 1, 2, 3 notes a month. You know, is everybody gonna stay re perform if you buy not performing? No. You're gonna end up having to foreclose on some of this. Notice takes time. I get people all the time. Like I gotta get to where I want to be. I need to get to 50k or 60k. You know, I want to go out and buy 100 nuts the first year. Look, I only know like two people that bought 100 nuts their first year. Okay. And they had deep pockets behind them already. Okay. One was a couple guys out of San Francisco. They had quite a bit of money behind them already, family money. They bought 125 notes their first year. Now we had another group out of port, yeah, Portland, that they sold a family business for 18 million bucks. Basically, you know, they did something else. So what do they do? They take that $18 million, they took it to a bank and they leveraged it and they got a $36 million line of credit and they use that to go buy big portfolios from banks and other aspect of things. Okay, That's a rare exception. Most of our students are doing this model of buying one, going from there. They buy one non performing note or one pre performing note. They buy two the next month, they buy three the next month. Then they're making more offers as they gain more confidence and more skills and they streamline what they're doing. Okay. Now it can seem overwhelming, especially all the different marketing things we talked about yesterday. You know, the LinkedIn, the videos, the blogs, that kind of stuff. The email blast, the due diligence, the pulling county records to find investors, the creating images yeah, they can seem very overwhelming. You know, there is a great service that we love recommending. We've used them for years. All right. And it's a company called Riva Global. Now it's, it's a. This company's out of New England, up Connecticut area. It's actually started by a guy, Bob Lachance. He's been on our podcast. He's a friend of ours. He's an ex professional hockey player. Years ago. Yeah. Oh. Probably coming up on 20, 30 years now. He's an ex hockey player. But what he did, he was doing a lot of short sales, a lot of stuff in Connecticut. So he went out and started training VAs from the Philippines, and he discovered, hey, we're pretty good at this stuff. I can't keep all these guys and gals busy. So he started this company, Riva Global, which stands for real estate. VA Global. Huge, huge fans of them. We've used their services many, many times. Whether it's long form stuff like we've had from for years, or if we need to add a person for a side project for 20 hours a week, something like that, that's the minimum they're looking for. 20 hours a week or 40 hours. So you have part time at 20, 40 for full time. And the great thing, if you don't know what you want to use the VA to do, they've got some great stuff about it. So let's just go to the downloads aspect of things. Things here. So we click on the downloads at Reba Global. This is one of the greatest, honestly, one of the greatest things that you can do for yourself is download that. Where should we send your free download here? All right, so basically this is the United States. We don't want it to do. Oh, come on. I mean, they hire, they work with VAs and people from all across the globe, not just the United States and Canada. Where is it here? There we go. United States. All right, so I'll pull this up for you guys. But I would highly go on here and do it yourself. Revaglobal.com backslash downloads. Okay. And it sounds like it just came in. Nope. And I'll share that with you. Let's go back here. Back. But you can use them. You know, honestly, one of the better things that you can do is have them start doing your social media marketing. You have them, you can have start having them create your images in Canva. You can start having them do. What else are they going to say? Pulling your IRA investors. All right, these are all things. Okay. So here's. Let me just share this with you so you guys can see this. Because if you're sitting here this morning, you're not sure what to be doing with your VA and how to put them to work. This is something that you want to take a look at. Okay, so Here we go. 100 tasks. So you got. Now these aren't all the 100 tasks and stuff like you have them do a whole variety of things. Okay. And they speak fluent English. If their English isn't poor, they're not working for Reva. It's poor. It's not. They're not working for Reva. There's times they've called me up and I thought they were here local in the United States. Now they're overseas. So. But cold calling if you want to, you could have them calling other aspects of your note investing company or real estate investing company. I know that Judy, you're doing something also with potential subject to deals. That's another thing to do. That's a whole other strategy with these distressed lists that come in that we're getting their non performing notes. If you can't buy them at a price that makes sense, you can also target them for potential subject to deals. It's one thing that we do. So we get these lists and especially the low balance or not the low balance, the low interest rates like the 3 and a quarters. I can't buy that stuff at a price that makes sense. Or scratching debt notes. Well they're not going to tell big a discount but they can become very good leads for subject to deals where you're taking over the mortgage and going through highly encourage you to go to the podcast episode that we had was it last week we did with Alan T. Alan Chesker, who's an attorney here in Texas that does a lot with creative financing. He talked about structuring deals here in Texas. But a lot of that is very relevant across the country and what you do. So take a look at that nurturing, follow up phone calls, lead appointment setting, all these things, building your cash buyers, building your private lender list. Some of the things that we like doing, following up on emails, property research is what we have our VA do. Pulling photos of the properties off the Google Maps, tax information, rent numbers, marketing properties for sale. One of the great things you can also have them do is your bookkeeping, your file appointment setting. You know, there's so much stuff that you can do. Recruiting calls, newsletter creation, bookkeeping, social media marketing. There's a whole, you know, webinar creation there's all sorts of great things you can have them do. You know we talked about a service called Buffer. Buffer.com is a service that we use Whoops. To pre schedule all our stuff. Now I use Opus Clip AI for scheduling all our. Let me just do this here again. All of our video output. But if we're going to be posting news articles, images and stuff like that, which is something that you guys all could do very easily. Here we go. So buffer. So I can go in here. I'll fix that later. Later. Anyway, yeah, so I can put, you know. Okay. I use a lot so this July. So if we go here to Calendar Bay View, I can schedule things out for months if I wanted to. I think you. That allows you to post a hundred schedule appointments and stuff like that. We use more of their open school stuff like this. But for you guys, this is exactly all you really need to pre schedule stuff. Buffer. All right. Buffer.com and then go in and schedule. You can schedule to go in across your LinkedIn, your Facebook, your Twitter. Like I said, if you only have two channels that you're really targeting like Facebook and LinkedIn, you don't really need to do. Don't have to pay for. It's free and get. Rock and roll. Okay. Pretty easy to do. I know what I need to do. Yeah, we'll fix that later on afterwards. But anyway, that's one great thing. Now a lot of you guys like. Oh, what I do video wise, I don't know what to create. You could do a whole video series on FAQs, frequently asked questions of note, investors structuring deals. You could just. Basically one thing that I like to do every morning if I'm out walking. You'll crack up about this. But I like creating content with AI by walking. And what I like to do, I'll go to Twitter and I'll ask Twitter, Gigi, that's grok. But I rock. Doesn't sound like it's appropriate name for a girl. So Gigi's what I call her. And so hey, Gigi, can you give me the five most interesting articles that comes to real estate investing in Corpus Christi, Texas or Austin or Houston or nationwide. What are the most interesting stories? So what's Gigi gonna do? Gigi goes out to Twitter, finds five of the most interesting stories in distress. Real estate. And she'll tell me about it. And I can download that transcript. I can go over to. Hey, Jen. Hey, Jin. Gives me a little bit of trick. I might have to go to an incognito. Okay, There we go. So, hey, J. And I can create infographics images of myself. You know, like I did this one video a while back and it makes me look like I'm talking. All right, that's not me standing in front of the Alamo. It's my AI. And I can upload like a three minute audio thing. And then in my voice, I can take that transcript from Twitter or Gigi Grok AI, take the transcript, paste it into here and create a video. Was a couple minutes long of me giving the news. Okay. Of me talking about the most interesting articles in a given area. And it's kind of a cool thing. You could post a longer. You want to. You don't really want to go long video form. I like to keep the videos under five minutes. This works best when it's under five minutes. But you. Most of you guys, that's long enough for you to share a topic or they're going to be five minutes. It takes forever for it to process because there's a lot that goes into with the facial movements and stuff like that. But you can create images of yourself. I said, okay, can you put me in a state trooper outfit? Okay, can you put me wearing a burnt orange jacket? You know, burnt orange jacket in front of the capitol building? There's all sorts of great avatars. Let me click on here. Like I can literally just click on here and say, so we did an episode, you know, with one of the new movies. Nobody remember that movie, Nobody. I said, well, create an avatar. With me standing in a warehouse holding hundred dollar bills with him on fire. And as you can see, if you're watching this, you probably can't hear anything. Pretty cool that the shadowing is changing with the flames there. Well, it was a video that we used to market the. The podcast episode. All right. It was like a minute long. Wasn't too much. Okay. You know, but that's the great thing I could put here when I uploaded an image and say, hey, can you create an image of me like on a chilling by the pool in a Hawaiian shirt? Can you have me as a Jedi, you know, have me standing in front of Times Square talking? Have me standing at, you know, at Texas Stadium wearing a blue suit and a cowboy hat, like I'm an owner of the Dallas Cowboys. You know what I mean? Have me walking on Tampa Bay. So that's one thing that we were toying with. The idea is like, let's do some news in the top bigger markets. As we've worked with some of the different Podcasts. We did. So we said, okay, can you be walking along Tampa's, you know, the coastal line, Tampa Bay, giving the news. Give me Sammy in front of San Antonio, Alamo here in Austin, just giving some updates. Me walking on the beach, you know, doesn't have to be anything fancy. But the great thing, it does a pretty good job with the avatars, you know, for the most. And you can pick and choose what you like, but these are images that you don't have to do a lot of work for. You could completely do. Completely do. A faceless channel when it comes to sharing content. Creating content. Creating. Creating short videos about it. Hey, guys, here's a deal where you upload a picture of the property and say, have me standing in front of the property talking about it. Okay. It's. It's pretty simple to do. You just basically have to go in your comps. I'm sorry, your. Let's do this. Create a new. Let's do. Let's do. Create a new. All right, start and create your avatar. I've already had my avatar here. Let me click on this here. There we go. Create new. Ah, it's tweaked up. But, hey, Jin is not expensive. It's like 29 bucks a month to help create these images of you. Okay. You know, it's not new. Start from a photo design with AI. Okay. Yep. We're going to use an existing AI here. Head of Scott standing in a neighborhood wearing a blue suit with a house on fire and exploding behind him. Let's see what it says or something like that. Just kind of something. Is it working or not? Okay, let's try again. Scott, AI standing on the street in a blue suit while a home behind him is on fire. Why is it doing this? Might be a little bit goofy here. Great. Let's try this. Anyway. I gotta toy around a little bit here. They might be updating stuff like that. But like I said, standing in front of the Alamo, standing in front of the capital downtown, there are things you can put in here that make it very, very easy for you. And for the cost, it's so, so simple to do. All right, Upload some photos. It'll create an avatar of yourself or use somebody else. Oh, there we go. It just took a time for it to kick in. Look at that. Now. What can I do with that? Hey, the housing market's on fire. All right, what are you doing? Let's click on this. Let's add motion. There we go. I like it. See, if it says generating looks off of that. There we go. Just took a little time for it to kick in. So that's the great thing. It's got now in just seconds, like I just showed you there, it's creating images. Could you have a VA do that for you? Yeah, you could totally have the VA do it. I could have me talking in my own voice because I uploaded, you know, three to five minute audio of me talking. So that's the great thing. Is the housing market on fire? Yes, it is. Fiery blue sentinel. Let's see. What does this look like? Yeah, looks like I worked out a little bit more in my AI avatar than. There you go. You could always a few pounds with your AI avatar if you want. Body by AI. But you get what I'm saying, ladies and gentlemen, you come up with an idea. It's pretty easy to do. You know, we could also do another one here. Let's create a new start with a photo design with AI. These are comps half Scott. Skydiving over the ocean while talking. Let's see what it does with that. See what it is. Looks like it's take a few minutes to create motion, but you see what I'm saying, Lisa? This is also. Oh, look at me skydiving. There we go. Yay. You know, I could change up from a blue suit to wearing a leather suit, you know, a leather jacket and jeans. You know what I mean? There's so many great things you can do with this to help you stand out from the. The competition. That. That wow effect, you know what I mean? One of the things that we're going to do, we're doing a little bit with this, is that we've launched a couple new podcasts in the Texas market. You know, how to invest in Texas real estate, how to invest in Houston real estate, how to invest in Austin real estate, stuff like that. And we're using the same episode across a lot of those, the same podcast. We're doing local flavor. So there is a company out there that's using AI to create 3,000, 3,000, I'm not joking, 3,000 podcasts a month using AI content. And that gave me the idea how to. I could start something and make it automated that my VA can run by giving her a list of topics I want to talk about and then creating videos of me doing fun, weird things. Like I literally, at some point could probably take this class, splice up the different video, you know, video segments, and then put it in an AI where I'm teaching about AI while doing something interesting. How interesting would that Be to watch me doing 50 different activities. Craziness while teaching. It might, the education might be lost on the craziness. Right. But standing out from the competition is one of the most important things you can do. And it's so easy to do these days with a few clicks and a few uploads and a few tweaks here and there. It becomes a lot of fun to doing it. I'll give you a great example. I was working with a couple hedge fund guys about Dallas a couple months ago. They actually are one on one coaching students. They wanted to get into the distressed debt side of things, so they came from the oil and gas. And so we went up there and we were talking about spend time with him. And one of the guys was a previous doctor. He's raised, you know, over $100 million in private capital. And he's like, wow, I really love to use AI to help me target more doctors. I'm like, well, you've raised a lot of money because, yeah, I want to do something a little bit differently. So we came up with like the, we asked AI to come up with the 12 different like categories of, you know, the surgeon, the anesthesiologist, the nurse, the pt. And then we said, okay, can AI give us the spirit animals? Whether it was the gorilla for the surgeon or the sloth for the anesthesiologist. I said, okay, now let's come up with a 60 second comical, humorous plot line about what they're doing with the human ego. And so we created these 12 videos for him that he's been using to target anesthesiologists and dentists and doctors and, and with using comedy from AI and he's like, people love it. They're literally like laughing at this, but starting conversations with people. And that's what this is all about is, is it's pretty simple to create a lot of this stuff, right? You just got to spend a little bit of time toying with it. But it becomes easier and easier and easier to come up with so many different activities. All right, like I did, hey, what's the spirit of animal? We did a series on LinkedIn content on creating cartoons based on some of the different types of the wholesaler, the fix and flipper, the note investor and the same thing. What are the spirit animals for a note investor? Turns out we're owls, we're wise beyond our years and that kind of stuff. So yeah, we, oh yeah, we did this for the thousandth episode. Like I was gonna take it easy sitting by poolside Drinking mimosas. You know, some look like me, some didn't. We used some of these and some we didn't use. I mean, that's a great thing. I probably deleted over half the ones I came up with. And we were doing a. You know, the reason we had the cop, the state trooper, stuff like that was we did an episode of not to Buy New Jersey and Super Troopers. Remember this? Super troopers are coming out. No. So I want to look like a super trooper. I didn't end up using any of these. I used a different image, but it was an idea to see what it would come up with. But, you know, I've used your headshots, your LinkedIn images, your photos. Some are closer than others, and that's what you can mess around with and see what works best for you. You know, I plan on creating short images on the top 50 cities across the country. And, and what's. How does the, what's the normal profile when somebody thinks of, you know, San Antonio, think of the Alamo, think of the Mariachis, all right, you know, Corpus Christi, you know, wind surfer, you know what I mean, the, the lobster Fishman from Boston, you know, the major league baseball player, you know, from the Yankees, you know, that kind of stuff. There's so many great things you can do to stand out from the competition. And like I said, hey, Jen, it's a great tool. 29 bucks to use it. We get a lot of fun out of it, okay? Creating content. You can automate this stuff, put it with a VA, you know, and with Reva, if you're. It's like 10, 50 an hour, I think is what it is. It's around 10 bucks an hour. But they're English speaking, trained. If somebody falls off, they put somebody in. You're going to interview two or three of the different VAs they put in front of you. They've all got a lot of great experience. But the thing that I think that I love most about Riva is I can take my video training on how to raise capital and how to pull IRA investors, send it to them, and then they're trained, they're going to go out and pull that stuff for you. How to break down a spreadsheet. Guess what? I can send them a tape and that video and they'll have it broken down for me. With the information that I will hold, I'm probably going to delete the. The States off. I don't want first, I don't waste, I don't want wasting time on that. But pulling photos Pulling comps, random formulas, stuff like that can all save you a tremendous amount of time to go do the fun things that you want to do. People always ask me, what do we do? You know, do I work 80 hours a week? No, I don't work 80 hours a week. I love what I do. Right. I work probably from 11 to 11 to 5. Monday's usually the longer day. Monday's usually from 11 to about 6, 7 o' clock at night, sometimes 8 o', clock, depending what we have going on with webinars and stuff like that. Tuesday is usually a short day. 11 to 4, 11 to 5, Wednesday, spend a lot of time looking at assets, due diligence, stuff like that. That's the same thing. You could send collateral files over to your VA and have them sort it for you. So it's very clean and neat and they can tell you what's in there, what's not in there. All right. And then Friday, usually, unless I'm teaching a class, Friday's usually blocked up my schedule. So we have primarily a three day weekend. For the most part, I'll jump on a podcast or I'll take a phone call or two from coaching students and stuff like that. But usually I try to work, you know, four or five hours a day. My morning, when I get up in the morning, feed the animals, cup of coffee. I'll sit outside my back patio with coffee for a little bit. But most of the time I'm walking six miles, you know, four to six miles every day in my neighborhood. My morning is my morning routine that helps me stay clear and be prepared of what's going on. Yeah, do I look at my schedule? Okay, who do I have going on? What's going on that day? Sometimes we'll have early calls with coaching students, other times we don't. Just there you can truly design the life that you want or what your day in, day out activity is. And that's the beautiful thing that I've always loved about notes is you can close notes from wherever you're located, whether it's Maine, you know, or San Diego or on a cruise ship or overseas. And we've got clients coaching students from Israel, we've got coaching students from Australia. You know, people want to invest in the United States because we've got such amazing opportunities that other places don't have. Okay, so going back here, like I said, you need a VA service. Riva Global's, who I highly recommend to help you take your business next level. Okay, now another service somebody asked me about. Who do we use for setting up LLC and stuff like that. Well, I like Laughlin and Associates. Laughlin USA.com Aaron Young is a CEO over there. We've known him free. I've known Aaron for, wow, I guess going on about 15 years down and I think about it maybe no, no, it's probably about 11 or 12. But anyway Lawfulness, they help set up LLC. They do trust work. They do a lot of our structuring on any type of entities, our asset protections or you know, all that stuff like that. We use lawful in usa. They're pretty easy to get a hold of and get rock and roll. And they won't oversell you on product like some companies will out there as well too. And then of course if I have any need for any other folks along that asset protection side of things, it's really accounting, bookkeeping, that kind of stuff. You know, law firm's got a team that we utilize kind of our inner circle aspect of things of clients that we use for our own stuff and go from there. So check them out. They're pretty easy in setting up an llc. If you've got an existing llc. I've been doing your books and records keeping. They can go back up to five years for you. And what they do with their corporate bail protection, well worth it. And we've had Aaron and his team on quite a few times on our podcast and different webinars will probably. If you're watching the replays, you'll probably see a video episode with me talking with Aaron. As a bonus, going through the asset protection stuff, what you need to create stuff like that that we're not going to go through in today stuff for you. Okay. Another thing that I want you to look at is a service called getfundable.com all right. Now get fundable is it helps if I can spell on a Sunday morning. There we go. Get fundable. Used to be Credit Sense is a company out of Salt Lake City. They're run by our good friend Merrill Chandler. And what they do is they help people get their LLCs, get their personal and business stuff lined up so they can go get lines of credit. And they are phenomenal. Now a little bit about Merrill. Merrill was the founder of Lexington Law Firm back in the day. But as I like to say, he is like literally the credit messiah. All right. And I mean that he's a credit approval wizards. You know, there's a couple things that I think are required attendance for a lot of folks. One is lawful associates puts on a three day event called Magnify your wealth. I just had one in Dallas two weeks ago that we attended. I've spoken at it quite a few times. I went up just to kind of learn some stuff and I was well worth me spend the two out of three days there to come back early but well worth it for you. If you're interested in your coaching student, you get in for free. If you want to get a discounted ticket to it, let me know. I can help get you a discounted ticket to it. But get fundable is a different aspect. They help you literally look at your credit reports, help you get business line of credit, credit cards, all sorts of great stuff. He's helped I know some of our coaching students, stuff like that get hundreds of thousands of dollars in lines of credit. He's helped us by getting stuff financed cheaper lines of credit. I should not I'm going to tell you that right now. We've got some stuff lined up for it and also just saving a ton of money and learning the ins and outs of fico. Get Funnel is one of the few companies that goes to it's a public facing company that actually goes to FICO World. Now the credit bureaus and FICO put on this big conference every once every 12 months or 18 months. Meryl's team is the only like I said consumer facing company goes there to learn how they can I won't say manipulate but how can they best use or tools they can use to help their clients get more lines of credit. So second to none on that. It's not credit repair. He helps people get lines of credit and get rock and roll. So check it out. He usually puts on like a two day event as well. I don't know if he's got his schedule up here on what he's got going on. I'm looking here see if can. He does have a pretty good community which is a really great community once a week that he meets but reach out to him if you're interested in like an introduction. I'd be glad to introduce you to him but he's, he's phenomenal at what he does. So Lawful associates, Riva Global, getfundable.com those are three of our vendors that we highly highly recommend that you use as well. Now somebody asked me about Force Place insurance over the evening. Okay now who do we use for that? We use a friend. She's actually going to be on the podcast here in a couple days. Let me see which exactly what website does she want me to send people to Our our good friend Elizabeth Bosuko Coots. All right, so let me pull this up here and pull it up. I notice you booked a timeout. There we go. Beth Busuko. ELIZABETH okay. And there we go. Lloyd's insurance.com they do a great job with Force Place insurance all across the country. Now they don't they do normal property and casualty insurance as well. But Lloyd's insurance, There we go. L.B. j.B. Lloyd and Associates. They're really coming out of Dallas if I remember correctly. But they do stuff all across the country. Now you can use them for your note, your Force Place insurance. You can use them for your regular insurance once you take a property back, your rental insurance. Really great team of people. And let me pull it. Here we go. Beth Busakoo. Okay. She's come spoke at her event. She'll probably be at her event in February. But she's phenomenal, one of the greatest customer reps out there. Just absolutely phenomenal when it comes to helping you get quotes on your insurance on your property. But it's one of the most important things that you can do especially if you're going to be buying in some of the places that have been hit hard like Houston. Gulf coast is a flood zone and she'll get you coverage. If you're buying in Florida. They may not be buying. They may not be covered in Florida. They weren't covering in Florida a few months back. But one of the most valuable things when she came and spoke at our last class last year. People are just overwhelmed at the different things that you can do. Top things more affordable by having a blanket policy that covers your assets all across the country. Pretty cool stuff in savings wise but that's a JB you know Lloyd's Insurance ins.com and ask for Beth Busukotes. Okay. Phenomenal. She lives just south of me here in Dripper and Springs. So in south south of Austin as well. Pretty easy get her on the phone and connect it. But she does a lot travel. You'll probably see her at some different events out there as well. For you, what was I going to say there servicing companies. There's a couple of different ones that you can use when you're starting off brand new. You could do like I said you could do. Kobe Financial is is kofi fin.com Eric Kobe. He's out of San Antonio, Texas. Great guy, great team. A lot of great stuff there for folks out there. Like I said, they don't do any type of the legal side of things, but they do the servicing side. They're licensed in quite a few states across the country and they're pretty easy. If you go to kofin.com and reach out to them or and tell them that we sent you, they'll take good care of you. All right. He caught Eric called me up and we had a conversation. I think it was Wednesday or Thursday before the class he's like hey Scott, we're, we're taking on new clients. I wanted to reach out to you first because I know you see more clients. We're not accepting all new note investors but they've gone through your class and understand your education and stuff like that. Knowing to do it will be glad to take your clients because they're educated. They're not going to bog down our team with a lot of dumb questions on stupid stuff. All right. But like I said, there's no dumb questions. Hopefully you've learned the basics in and out. They're completely fine and helping things. And he's really great. His team is all great about working with the bars to get them back on track and doing some sort of loan modification or forbearance agreement stuff like that. Kofi Fin is one of those companies out there that is taking on new note investors. You could also go to Madison Management. Madison Management is a loan servicing company formerly out of New Jersey but they're now in Reno, Nevada and they do about 15. Oh no, they do more than probably closer to 30 states. They take on new clients as well. New note investors. The, the owners actually started off as a note investor and was doing some stuff on seconds and he created massive measures. They're pretty good. There are some growing pains there definitely when they move to offices and get new staff but they're still relatively pretty pretty good. You're going to have to you know, like anything. You just got to keep up and connect with these asset managers. Find out who your asset, your actual asset manager is at these organizations. Who's in charge of your files and communicate with them and come up with a plan. Does it work once a month to talk once every two weeks depending on what your portfolio is, you could do that. Now you can also look at Land Home Financial. There's another servicing company, lhfs. These guys actually started years ago as a mobile home servicing company but now they do full performing and non performing loan servicing across the country and we've used them in the past as well. They're really good and so once again you can communicate with them, reach out to them, tell them I sent you, they'll take good care of You. All right, now, there's another company out there, too. I'm gonna give you guys a freebie here, all right? SN Loan Servicing. I think I mentioned this on Friday, but I wanted to make sure and bring it up. Essence Servicing, Great servicing company. They're a little bit more expensive on the a la carte fees of the workouts. But if you're looking to, you can always go over here and buy and sell notes as well. Register with them. Okay. He's gonna ask you who you'll learn the note business from, and if you mention my name, he'll reach out to me to verify it. Okay, but you'll need to sign an NDA and get. Rock and Rolling. That's a great resource for you to kind of start getting notes, tapes, and other things sent to you. SN Servicing. SN Trading there for you. Okay. There's a little freebie for you on a Sunday morning here. I just want to make sure you guys were aware of that. Okay. All right. So, I mean, I'm just gonna close some of this stuff out. I just want to go through a couple things that I was thinking Saturday night while I was sitting here, some of the things that I didn't cover with you guys. What I'd like to do as well. Let's go through the manual. There's some resources in the manual I want to make sure that you guys are aware of. All right, let's go to the manual here. All right. Need for those. I'm gonna put that back in the share folder here. Come on. There we go. And let me share it, and I'll drop it in the copy link in the chat roll for you guys to everybody. Make sure you download it. Now. You guys should already have gotten. If you obviously. Here, run Zoom. You should have already gotten a link with that when we send out the email with a Zoom link for it. But that's okay. Just want to make sure. So, you know, there's some stuff I'm going to slide past this. Oh, wait a second. This is actually. That's the wrong one. I actually probably shared the wrong one. I'm looking at it. Let me pull it back up here. It's different one here. Sorry. Boom, boom, boom. Manual. Let's do this. I think my da. Here we go. That's it. That's more like it. So you want to use this one instead? Sorry. Edit it and forget. Okay, that's better. Yeah, that's more like it. Okay, so we started off there with a 250k in 2020. We've used that slides a couple times, which is great. This gives you a bit of an idea here. I put this in here so you have a bit of an idea when it comes to foreclosure costs on average across, you know, on a state by state basis for you. This is also some of the HUD foreclosures, Fannie Mae foreclosure costs there for you, different compensation. This is kind of a map of different states that require you to have license and stuff like that. Texas, you can actually self service your own license. You don't have a servicing license here in Texas unless you want to. You should, you shouldn't be self servicing if you're self servicing. That's really not good. All right, don't be doing that. See we're going through here. There's the LinkedIn stuff that we discussed on day one. Lane guy, we talked about that about our financial. The Department of Savings and Mortgage lending website, the FD. Oh the FDIC.gov will show banks that have gone out of business that you can take a look and see if they're asset available. We talked about some of the different scripts there for you. When to call, what not to say, what to say when you're calling or dialing for dollars. I give you a couple examples in here of emails that we've sent to asset managers. Pretty simple this. I used mailchimp for these. They're pretty uniform that you guys could use mailchimp there to start off with. Now I use keep, now it's all mine. Look a little bit different but mailchimp is a pretty easy enough for you guys to start using and going from there. We talk about some of the different. There's two different scripts in here when you're actually speaking to them. Some of the different Q and A's that you'll get common questions, the note markets and pricing models. We'll go through that in a little bit here for you. Like I said. Well yeah, we'll cover that in a second here. Now one of the things that I like to do is since we're buying across the country, people ask me why did I put the top 100 media markets in here? Okay, when you start off as a note investor, you're probably going to spend most of the time in the top, top markets. There are some markets you want to do and other markets you want to stay away from. Okay, so this is one of the things that I wanted to definitely go through. So like you're not going to buy anything in New York probably Not in la, not in California or not in Chicago. Those three markets you can just kind of negative. Philadelphia, Dallas. Yes. San Francisco. No. The Hagerstown. Washington, D.C. yeah, there's some good ones. Houston, yes. Boston. Yeah. Atlanta, yes. Phoenix, yes. Tampa. Yes. Seattle, no. Detroit. And so the idea was this is to kind of figure out what are your top bigger markets in your states and you could target those cities in the three to five states that you want to start off with. Okay. And that's a good, kind of a good idea for you to take a look at. Talked about funding there. We talked about real estate clubs. We talked about the self directed IRA list of custodians at Target there for you, Netra Online. We've discussed that using the appraisal search to find IRA investors. This is me going through Orange County, Orlando, the county recorder deed searches. We took one through that and now here we go in some of the sample letters that we have in here, the executive summaries and things like we talked about yesterday to help you market your business a little bit better. Okay. So this was actually, I created this in Canva. It was easy for me to put the photo in there and then I printed it off. But you want your executive summary to be a one page thing. You're kind of talking about what your company is and we talk a little better education and we talk about yourself, my ed, you know, what I do my education more focused on and stuff like that. You're going to tweak yours to be a little bit differently. But that's the thing you want to share. Kind of like we talked about, it's kind of the guts of what your pitch deck is, who you are, what your experience is, your businesses, your focus and kind of that aspect, the opportunity. Okay, no, I'm sorry, James. If you're just subscribed to my email, can I get a copy of that manual? No, it's, it's. You got to pay for the class. It doesn't. I'm just not giving the manual out. No offense to you, James. Appreciate you watching, asking questions, but no, the manual is included with the class. We don't give that out individually. Sorry. All right. I gave us a couple sample letters to IRA investors. This is one thing that I send out. Very common. Hey, here's what we're doing now. If you're going to be hosting an event or going to a local real estate club or something like that, that's a really great credibility thing to do. So while we've used this anytime I'm speaking Or if you're even hosting a meetup group for yourself or hey, come on out to local real club on the first Tuesday of the month and look for me. Okay, this is something that you do. So that's another letter we send out to people. Now we also include, okay, different things in there like you could. There are a lot of IRA companies will give you actual marketing materials to use if you're going to be marketing. So we used to do a lot with Quest ira. We talk about their options, their different annual contribution limits to their different accounts. If you're one of our coaching students, we created an ebook for our coaching students. So yes, Judy, you'll get a copy of that that you can tweak and put into AI to help yourself. And it's become a really great, it's a great lead magnet for our coaching students, like Larry Hoffman's one of our coaching students. He's using it to raise capital. He went and tweaked the last part of it. And so we've got an ebook for you and we have our own ebook that we wrote. All right, 72 page long book on how to dive into the world of note investing. This is, I don't, you know, have I sold a bunch of companies? Yeah, absolutely. But I've given away more copies, given away the ebook I give them, printed a bunch of copies and gave away hundreds and hundreds and hundreds or thousands and thousands of copies. Now speaking. It's just a great kind of business card aspect of things. Of course, we've got some sample case studies. Remember I told you that one in West Palm beach looks very formula familiar because we did this one in Palm Beach, Florida. Palm City, Florida. Sorry. Another one we bought a few years back, different address, but very similar aspect of it. And that's what we have with these three different case studies here. These are cases we use for years. Obviously have some newer ones, but like I have one, this one drug out a little bit, this one drug out about two years. There's a foreclosure deal still came out ahead. This one was a loan modification turn into cash flow. And then this one was a deed loan, cash for keys aspect. So that's what I should like to share is here's some sample deals of kind of what we've done that you can use for your own business. All right. Yeah, I have the values change. Have the stories change. The stories haven't changed, but the values have changed, the market change. But you can still use these to give. You can use a similar case of these are the types of deals that we like to do right now. We also. The only direct mail that we do is to IRA investors that I've talked about. So we went out and bought. We use, oh, you can use Vistaprint or Postcard Mania is who we like to use. Vistaprint works really better, I think than on the smaller batch of postcards, like 50 to 100 if you're targeting specific here, if you're going to be, you know, targeting a lot of IRA investors and you may want to go over to Postcard Mania and buy a bulk batch, batch of postcards. And so that's what we did with Postcard main. We bought 5,000 postcards. And what we did is we bought them. We said, you know, it looks like, is your piggy in good hands? No, let's get your IRA back on track. The backside of it. We didn't print anything besides our website, our email address and a phone number and a QR code to connect people to our little landing page we wanted to go to, but we left it blank so that we could either use this as a, like a business card, an event, or we use it when we're marking out to a list of IRA investors by going and just doing a mail merge on like an Avery label, a printing label, and then putting as a sticky on it and then sending that out. So it works well. For Rite of Fashions. A few years back, I paid for an ad in Investor Review magazine. Talked about a couple case studies that people use in their ira. Self directed IRA to fund a note deal that came in handy. Of course. We've got the investment questionnaire in there for you. I think Jay asked me what page this is on and this is on page, page 45. Okay. And then of course we talked a little about some of the different note marketing tactics we've used in there. There's not much in there about AI. I need to update it because AI has been changing so much things that I would have recommended three months ago. I would change what I'm doing some of the things now for you. Okay, we got another presentation of, you know, welcome to 24 when it comes to marketing. All the different things that are available, how we kind of use one thing and go from there. We're going to be retweaking that here for the first year. There's the. You see the 30 by 30 marketing matrix in there a little bit. There you go. We retreated up so it's a little bit easier for you guys to take a look at it when it comes to structuring your business. Why was. That's why I brought the waffle. You really need when you're starting off, you need an llc. Can you use trust to buy notes? Yes. Can you use your self directed ira? Yes, you can do that. Can you create a checkbook IRA LLC to, to buy in? Yes, you can. All right, we've got a vendor safeguard advisors. We just had Nick Sahugan on the podcast last. Well I recorded last week. I think it went to go live Friday or probably goes live on Monday. But great interview. We get you a discount in helping you set up a checkbook LLC that a checkbook IRA llc. Well, cheaper than anybody else out there. Usually we see it costing 1500 to 2000 bucks. They're doing it for like 8.99 or 9.99 and you get 100 bucks off using a discount code that we do. So great service for you. They'll set up the ira, self directed ira, the checking account and the IRA LLC for you all in one spot there for you. So phenomenal. Saves you a lot of money all being in one spot. Okay, but you're going to use an LLC and that's why we recommend laughing. They know how to set that stuff up. They're understand note investors. We've been one of their top refers of new clients for years. Over to Laughlin. Okay. And in a second we're going to get through the different exit strategies to help you guys understand some things. So yeah, we'll go through that in a second. We went through a bit of a due diligence yesterday with the collateral file. I think you guys may have found that interesting. And let's see what else in here. Here's a. Yeah, here's kind of a note evaluation checklist. It's a short version of it. The longer version was sent to you vendors. We've, we've, you know, dived into some of these. Oh, if you're looking for a foreclosure attorney, let me do that. Legaleg100.com if you don't have a. The servicing company doesn't have somebody for you or your foreclosing area that I don't have somebody. This is where I go. Legal league 100. Pretty easy to find. They're a great service to help you find attorneys. And so if you're looking for somebody, just go to their member directory, search for attorney firm. So you can just pick, pick a state, type in a state. We'll just say I'm looking for something in Indiana. Okay. Oh, they've Got members in Indiana. All right, just scroll through this here. Idaho, Alabama, New York. Ah, well, don't know why it doesn't show them. Just gotta go back now flip back through there. But they've got a bunch of members here. That's where I got my attorney from, was there back in the day. So if you don't know can't find one, let me know. I'll gladly research one for you. But if you're looking for something, that's the first spot that I would go to look for. They're all, you know, they're all really great firms. I've not used all of them, but we've used a big chunk of them to help out the foreclosure side of things. So that's something to think about there for you. Pretty easy to find. And attorney there for you. Like I said, if you don't need to order a BPO O&E, you can do it directly through our website. You shoot me an email. Hey, Scott, I need to order BPO and only we can get it for you. Taken care of. We've got actually a dedicated VA that's helping. Just do that for due diligence stocks for folks out there, our clients out there. And we try to get it as cheap as possible for you guys. We've got relationships with big firms that like in bulk orders, but they'll do a one off order for us because. Because we're basically ordering in bulk over the year. So we've got a great discount for folks that way. If you're needing property preservation or need a realtor in a good area, please don't hesitate to reach out with me. Always glad to go through that for you as well too. Okay. All right, so let's do this. Let's take a. Let me go back here. I want to go back to the manual. Oh, where is it? Just had it up here. There we go. Reshare my screen. Make sure you guys are seeing it. Yeah, okay. Perfect. All right. Then we have a different glossary of terms there for you guys. Take a look at. And then we get into log glossary terms. You could create a video or a short video on each one of these things. Right. If you want to. That would definitely keep you busy. All right. And then we have a longer 21 page note evaluation checklist. It's a engineer's wet dream. I would not spend time on this. There's a guy that created this is from Columbia. Very sharp guy, but way over the top when it comes to things. Some of you Guys like it, but that's fine. If you tried to go through this due diligence checklist, the note would be sold, foreclosed on and d decompensated or blown up and blown away in years by trying to go through the whole damn thing. But I put in there. So it gives you some good ideas to take a look at when thinking about some things. Okay. All right, let's keep going down here. Like I said, it was 21. You've got an ends and non compete or non significant non disclosure agreement there for you if you're dealing with folks that you're wholesaling. Note to. We got some sample assignment of mortgage purchase agreements for you and see kind of what they look like. We've got a note wholesaling agreement in there as well. Pretty easy that we've used for years on actual deals. Therefore, you can kind of see that we have a note, a loan sale agreement. This one is from a company that used to be around for years. So it was easy to give you a sample contract. So you can see kind of how it works out there. Oh, actually this is. Yeah, this was Greenpoint Mortgage. This is an actual loan sale agreement on an apartment complex we bought. Greenpoint Mortgage used to be the small balance commercial for Capital One back in the day. Okay. Yes. What's in your wallet? And this was on a eight unit apartment complex that we were buying in San Diego, California back in the. Hard to believe that it went for that amount back in the day. We're triple that now. So that's good to watch that bill of sale. So that's one thing I want to bring up there. When you're closing on a note deal, you're. You're not going to meet it in a traditional title company. Even if it's a commercial deal. You're not going to meet a traditional because the property isn't changing hands, it's the note. It's changing hands. So you're not going to get new title insurance on the property. The title insurance is still in place from when the loan was originated. Okay. So what it is is that you're going to wire money to the bank. All right? So they'll send you a loan sale agreement. You'll fill it out. The bill of sale will be attached to it. When you wire the funds and they receive the funds in the account, the seller is then going to turn around and send you a signed bill of sale, let you know that it was. So your investment's there. It's like a receipt and then they're going to send you the assignment of mortgage, a scanned copy of it showing the transfer of it. Okay. See, like a form of assignment, deed of trust. They're going to ask you, is everything looking right on it? Where's it going to? So they're going to send that scanty. Now, they may go ahead and FedEx out the new original to you, or they may send it with a collateral file, you know, within 30 days. I prefer to get a scanned copy and then just send the collect. Send it with a collateral, follow up with me. Okay? Now, some counties out there will allow you to do electronic recording where you could go take that scanned copy and upload it and then it gets recorded and gone from there other time you may actually have to send it out. Now, we've got a couple vendors if you need to correct or get something recorded. There is a company out of the Ozarks that we like using. Oh, my gosh. It's Richmond. Yeah, Richmond Monroe. Now these guys, Richmond and Row, They need to update their SSL stuff. Okay, so Richmond Roe, they'll do collateral holdings. They'll store your collateral files for you. They'll store these things, you know, for you. I think it's when you start off with a small portfolio, don't have them shipped to Richmond Monroe right off the bat. Now, they'll store it for you. They'll scan your collateral file for you, put it in file, you know, so you have an updated one. They'll also review the collateral files they sent to make sure. So what I would, if I were you guys, is yeah, you could use them to scan your collateral file, review, tell you what's missing. If there is stuff is missing, especially in older loans. Okay, like the collateral file that we went through last night. Pretty clean. Pretty damn clean. Everything's there. I don't really need to fix all the assignments was what I was worried about. In the lounges are all there. We're good to go. If you're buying older assets or you're buying owner finance notes, then you should probably for sure have Richmond Roe review your collateral file for it cost you 100, 125 bucks if you wanted to store it. I don't know exactly what they charge. Like I said, when you start buying enough notes, it makes more sense for you to store them in a dry, safe place. That's why we have our own storage unit on the fourth floor, not the first floor. Not that that storage unit would ever flood, but I like being on the fourth floor. And it's insured so if something happens, an act of God and flames go up, my stuff's covered. But Richmond and Row will help you with the collateral view. They'll help you create the documents to fix them. They'll go out and contact the banks, lenders, if there's missing assignments or launches or all that stuff. There was a note we bought. We're getting ready to buy a note and realized there was a existing mortgage sitting on top that hadn't been released. So Richmond Roe was able to go out and get a release of Lean. So it cleared the title so that we then bought the note and helped. Got it. Rock and rolling. But they're real good. They'll also record all your documents all across the country as well for you. Okay, all right, let's move back here. Back to see here commercial notes. Simon. Interestingly, I'm not going to go through commercial notes. Every commercial asset class is different. So evaluating a commercial note, you really need to understand how the apartment complex is working or the stealth storage working or the RV park. Now, yes, you can find plenty of notes on commercials out there, but you got to understand how to evaluate those first and foremost. Otherwise you're, you're going to screw stuff up. A residential, single family home, duplex, triplex, fourplex, pretty easy to evaluate, pull comps. But a commercial is a whole different ball game. Okay, there's the assignment of the foreclosure proceedings over to us. We wanted to. Oh, if you are going to buy notes from a bank, especially commercial properties, don't be surprised if the bank asks you for a commercial letter of intent. Commercial loi. That's legitimate. Okay, now what happens too. There's our broker, joker brokers out there, they're even realtors or people that don't know what the hell they're doing. If they, if you, okay, if you get. Or if somebody tells you that they need a proof of funds and an LOI before they send you any list, do not deal with them. They're a joker broker. Okay, a bank commercial letter of tenants outlining. Basically, this is an apartment complex we bought 15 years ago. 300 unit apartment complex in Indiana. Cedars from Banco Popular. So I had to send up a commercial letter of tent. What our bid was earnest money deposit, all that stuff. You know, I don't usually have to put up earnest money deposits, but this was a commercial bank of popular. They wanted something for that to make sure that we were legitimate. And so we did. Okay, we got an investor. It was completely refundable. So we just put the Deposit up to make sure that we were serious about it. Okay, but like I said, if somebody asks you for proof of funds statement before sending you a list of notes. Now if somebody's going to buy a note from me or they want to fund a deal, of course I'm going to ask for proof of funds, making sure that they have the amount that they can fund on it. Okay. They're going to invest it with me. I want to make sure they have the money. If somebody's buying a note from me, I'll probably ask for proof of funds, especially if they're brand new. If they're a seasoned note investor, I can see that they've closed themselves. I'm not going to ask that for the most part. But like I said, if somebody comes to you brand new and they want you to fill out, send them a letter of intent, what you want to buy and a proof of funds. That's a joker broker. Run the other way. That's such an antiquated aspect. Okay, but that's a commercial letter of intent. So you guys take a look at that. We got some hello letters. This was a letter I sent out to a Spanish speaking borrower instructing them that, hey, I was going to have clients come by. They knocked on the door. This was offering a deed in lieu. When we did English to Spanish, it worked out very well. Here's another loan sale agreement from a company that used to be around called Remic. Mike Alston used to work over there, guy we used to trade from. They closed down their doors, they moved on to something else which is completely fine. And then we get into, oh, that's the still part of the contract. Then we got kind of a collateral file there for you on a note that we bought back in the day from Granite Loan Services there BPO own sample. So you can kind of see what a collateral file looks for there. And that's really the last 40 pages of this. Is this collateral file that you can take a look at? Similar to what we went through yesterday. Boom. And then there should be. Yeah. Wiring instructions and there you go. So 203 pages there for you. Some great stuff to dive into for you when you're bored. Yes, it does show if you look at this contract. Yes. Let me just go and blow that up. $7 for a deal. Cheapest note I've ever paid. Seven bucks for a note in Baltimore. We ended up flipping that note to a end buyer for five grand. So what happened with this? I'll explain this. So we, when Grant Solutions sent Out this, this tape a while back. This one con condo in Florida is what I wanted. I wanted this condo. I liked it. It was worth about 70 and they were willing to sell it to me for 18 92620. Okay, I was like, that's fine, I'll pay that. But if you're gonna pay that, I want, I want. If I'm gonna give you your full price, then give me three of these bottom of the barrel assets that are ugly. Like Baltimore, Maryland, like this townhome was in horrible shape. Kansas City, Missouri was horrible shape. Laurel, Mississippi, I couldn't even find it on the map. Basically I said, I don't care, but give me these three. I'll get them off, I'll take them off your books. Because they were paying servicing fees. And I originally had buyers for all three of those, right? But I didn't care if I didn't have operate because I offset my cost basis to this one being $17,600 based on the contract. Yeah, I'm paying 18.9 for it. But he goes, well, I can't show these for free. I'm like, that's fine, put whatever price you want on them, but just make the total contract not any more than 18920. So that's what they did. 18,920 for all three of them. And I got this one for seven bucks. I already had a buyer for it. These other two I just wrote off the $700 and $613 as a loss. Okay. I dated them to the city is what I did. Just dated them over. You know, it's pretty simple to do, you know, seven grand or seven bucks turned into five grand in 24 hours. Once we closed on the deal and I got the assignment of mortgage, I showed the assignment of mortgage. The guy knew he was going to foreclose. But I don't know what it's worth now. You can take a look at it, but literally seven bucks, that's the cheapest I've ever paid for a note. Most expensive was a one off note in Naples for like 1.1, 1.2. I paid for back to years ago. We buy some of those high end homes too from time to time. I don't necessarily like to do most. I'm getting them at a very big discount because there is a whole trajectory, a whole different kind of foreclosure time frame. When you're dealing with wealthy, you know, millionaires will often just drag foreclosures out because they can pay their attorney fifteen hundred dollars a month to keep delaying, delay, delaying, things like that. So you got to expect that. We had that happen, you know, a couple years ago with a property on a Cutler Bay, Florida, guy had delayed and paid in four years and took two years to foreclose because Covid delayed a year. Then he did some other things. Okay. All right. All right. Anyway, so let's move on here from that. Let's have you guys. Let's do your quick little first morning break and have you guys come back in half past the hour. All right. Half past the hour. And one thing to. Yeah, we'll just see back in. In 15 minutes. Great.