The Real Reason Why You Can't Find Note Deals

Foreign. This is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property. For panties on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now, here's your host, CEO of We Close Nodes, Scott Carson. Good morning, good afternoon, and good evening, everybody. Hey. Welcome to this episode of the Note Closure show. As always, Scott Carson jacked up to be here with you today. Today's episode I want to dedicate to a couple people that have called in the last two weeks looking for note tapes or asking questions about our membership, which includes access to note tapes when we get them in and we share it with our members. Our one on one coaching students get those first and then they can, you know, those that aren't on our one on one coaching but are part of our monthly membership, get access to the tapes afterwards. But it's very disturbing. This is a thing that is a pet peeve. Look, if you're going to be a note investor, you got to find note deals first and foremost. That's the lifeblood of the business. You could be the smartest when it comes to breaking down due diligence and evaluating numbers and overanalyzing tapes. But if you have no tapes to look at or don't know how to find them, you're not really, really being an investor. Unfortunately, there's people out there that teach that you're not smart enough or you're not big enough to get tapes into. Your banks won't do it. And that is true in some cases. If you're trying to buy from bank of America, Chase, Citibank, Wells Fargo, you know, if you're trying to buy 100 million dollar tape, there's, you're probably too small for that. I had a guy call me day, hey, we've got a tape of a hundred million dollars you want to buy. Mike, no, I'm not a guy for it. Why? Why not? I'm like, because it's too big. Why am I gonna waste my time going through all that? I make a great living going on smaller tapes, smaller ass. I mean, we got, don't be wrong, we've got about some great deals and some stuff, but $100 million, come on, there's not too many people that can swing that. And that's the thing. I'm always amazed. I see people in Facebook groups saying, I buy notes or I buy non performing, I buy performing. Look, posting to a Facebook Group that's got a thousand members or less than that, that only really probably 5% of those people in Facebook or social media see your stuff should tell you, yeah, I gotta learn how to market. And that's one of the biggest travesties. That's like the secret sauce, let's just put it that way. Retaining a workshop or you're part of a membership or something like that and they're not showing you how to physically go out and find tapes or find deals. They're not doing you a favor. And look, we've had people that have gone through our workshops, our coach, stuff like that and they're teaching people, but then they're hey, do you have any tapes we take a look at, we have, you have to be going out on a regular basis. That means jumping on LinkedIn, that means reaching out and tracking AOMs. I'm always amazed that when you look at people speaking at conferences and I'm probably going to piss some people off and I'm probably get some corner eyes or eye rolls at me. But you have these people that don't know how to go find tapes, they're not experts. If you don't know how to go find deals and market for deals and in our niche it's notes. That means where do notes come from? Well, either you can chase owner finance notes, which is a big waste of time, all right, there's companies out there selling your leads that you can target. That's a big waste of time with direct mail campaigns. I'm sorry, it is, it's the 21st century, ladies and gentlemen, and too many people are still marking like it's, it's like the 1990s. There is a little thing called the Internet and Google, okay, it is not hard to find note tapes or the right people at banks and institutions. If you use LinkedIn, if you use these smart strategies to help you work smarter, not harder. But unfortunately, people are paying 20, 30, 40, $50,000 for coaching and they're not getting access to tapes. I mean, if you're gonna pay me 25 grand from our one on one coaching, I'm gonna make sure you got tapes, make sure you've got access to hedge funds, make sure you're at the front of the list because you're paying for access. And no, I don't create my own competition. There's plenty to go around. And that scarcity mindset where a lot of people like, oh, there's not enough to go around. Yeah, there's not enough to go around because most people Are not, they are not sharing the resources or they're only targeting a few sources out there, but they're not continuing to go out and create new content or go out directly to banks, asset managers, lenders. There's a tremendous amount of lead sources out there to help you find deals. I mean that's what we focus the first day of our three day workshop. Actually we got a class upcoming July 25th to the 27th. The first full day is about to find. How do you find deals now in real estate, most of your traditional real estate investors, how do you find deals? You drive for dollars. You look at the code enforcement list, you look at the foreclosure list, the vacant list, the out of state owner, whatever it might be, those are great lists too. But you still have to market to those people, right? Guess what? Not investing, you're not sending that direct mail campaigns unless you're chasing owner finance leads and that's a waste of time. And I'm always amazed at people like oh yeah? Well, that's all we know. Why do you know that? Because you don't know how to market yourself out of a wet paper bag. All right? You have to embrace things. You have to understand it's a different niche. So you have to market differently. Yes, you can go to the any county records and look at the assignment of mortgage to find people who have originated notes or sold notes or bought notes and contact them directly. That's pretty easy. You can use LinkedIn to jump on there to find the right departments, the four or five or six job titles. Six. There's actually six job titles you would look at. We'll share that. We only share those on our workshop. But I've mentioned here before the right people at the bank. And then it's all about, guess what? Follow up. Follow up. The tattoo I'm going to have on my ass is going to be 80% of sales are made after the fifth contact. Okay, you gotta follow up with people. And I get it, we are inherently lazy. Let's just admit it, we're all lazy asses. Okay? Now chat GP is making it even easier for us to be lazy asses. Right? How do I find note tapes? They'll give you a list. But guess what? You still got to take the actions to either pick up the phone, shoot an email or jump on LinkedIn to find them. All right? And I'm always amazed somebody's like, oh, 97amonth. That's a lot to have access to tapes really. 97amonth? 12. About 1200 bucks a year. They have tapes sent to you that you can cherry pick. Then you are lazy. Okay, there's a whole lot more than monthly membership. But it just aggravates me when I talk to people. I'm looking for notes. I can't find notes. I can't find notes. And they're like, ah, I don't want to spend any money. It's a whole lot cheaper than spending thousands of dollars on direct mail campaigns, postcards and stamps. I mean, we had Corey Raymert out of Green Bay on with a Wisket's Wisconsin Investor podcast. The guy's dropping 15 to $20,000 a month in direct campaign, just really pretty much in Green Bay. And you wonder why you can't find deals. And you wonder why you can't get deals closed. And you wonder why you're not making any money in real estate. Because you have to invest and investing in time and investing your marketing to find the deals is the number one thing you got to do. Yes, you could be the most creative when it comes to vlookup and tables and all this other stuff and talk, be the most knowledgeable person about owner financing and taking a landlords and wrapping around. But if you ain't marketing and you ain't understanding how the market is these days, guess what? You ain't finding deals and you sure as hell ain't making money. So if you're wanting to do this, be serious. It isn't hard to find note tapes if you will market. And I'm going to say that probably four more, five times more in the spreadsheet now. Yes, I'm fired up, as you can tell, but I'm always, I just literally, it, it just, it makes me just want to bang my head against the wall, this brick, fake brick wall behind me here when I hear people, well, I can't find deals. Well, you can't find deals because you're marketing or the people you're learning from aren't marketing themselves. So how do you expect them to mark you to find deals? And that's one of the biggest things we have to look at. When you're evaluating any type of education program, any type of trainer, coach, whatever it might be. Yes, I'm a coach. We buy it. We, we close notes. We don't talk notes. We close notes. Right. Is looking at the tapes, what are they looking at on a monthly basis or a weekly basis? How many tapes are they coming in? I got one guy's membership. Why you haven't posted a tape this week? I was like, Because I haven't had anything coming this week. It was viable because it's the fourth of July week. Okay. People take off. There's. There are dead spots during the year in the middle of summer. It's kind of like that around the fourth of July. But that's okay. There's plenty of things. And I'm like, well, have you reached out to these other people that you've got taste rooms? No. Well, then reach out to them. Don't be L a Z y. You have to w o r K a little bit. All right? But that's, that's one of the most important things as a note investor, ladies and gentlemen, not relying on like a website like Stack or JK Puke. Okay? There's just crap. And I posted, I posted a list on, in one of the Facebook groups like last actually on Thursday last week it was a image of it. And we broke it down Monday, one of the previous episodes. And there's some. Well, I hope those aren't my 187. I'm like, well, if you had 187 new notes, I would we waste my time with it. Look, I don't run a trading platform. I don't want to run a trading platform. There's a lot of work with that. I get enough tapes in that we can cherry pick that our students can cherry pick from that. You aren't reliant on some crappy website that's only got a hundred crappy notes on it or less or something that's been sitting around for six months. If those are your only sources and you're frustrated, you're irritated, give me a phone call. TalkwithScottCarson.com Guys, pick up the phone. Call me 97amonth. Got to get you access not only to tapes, but the weekly coaching calls it all because it also gives you access to our workshops. We have coming workshop. Guess what that's rolled in with it. Okay? And we'll show you how to find deals, we'll talk to you, we'll show you how to talk to asset managers. We'll talk to you what to say, what not to say, how and how to automate the marketing process to start getting tapes and deals sent to you. But guess what? You gotta work it and follow up and do it over and over and over again to have the type of success you want. That's how we've built a database that is thousands and thousands and thousands of names and contacts and LinkedIn addresses because people come and go, but guess what? The notes don't go. There's still plenty of notes. When you look at, we've got what, 80 some odd million Americans out there with a mortgage on their house and we're at about a 4% default rate, maybe up to a 5 guys. Let's just say it's even down to 2 because people talk, oh, it's low. No, it's not really that low. There are things that are being hidden, but that's still 5 million. Basically somewhere around 5 million mortgages that are in default we're gonna take a look at. And there's plenty of stuff out there too. Big assets, nice assets, pretty assets, starter assets, lower valued assets all across this great country for you to bid on. Okay? Now if you want to buy New York, New Jersey, by all means, you got plenty up there. If you want to buy in California, we're seeing increase. If you want to buy in Texas, guess what, we're starting to see a little bit of increase. But I would highly encourage you focus on three to five states. Pick the biggest cities in those areas, go to the county records, the county clerk office online and start searching for assignments that will give you a list of people or mortgages that are being moved that are recorded there. And guess what you've got a buyer of that note and a seller of that note. Those are two contacts. And guess what? Use a tool to go out and find it. If you want reverse mortgages, go type in Fannie Mae reverse mortgages and see how many trades that they've made and look at the names on those and Google those companies. I, I gotta slow down here because I'm, I'm all fired up as you know this. But ladies and gentlemen, this is not a hard business, okay? But it's also, it requires you to follow up and follow up and follow up. If you expect to be spoon fed deals, then go sign up for a $50,000 coaching. They're still going to charge you 10, 20, $30,000 on top of every note that you're gonna buy. And the notes are going to be crap anyway because they've already cherry picked the list. I don't do that. We give you deals to take a look at. We co bid, we look at deals. Plenty of tapes. Just go to our YouTube channel and see the amount of tapes that we've broken down over the years and how we will continue to be the only note investor out there that shows you how to break down tapes and walks you through that process. All right, there's plenty of opportunity, ladies and gentlemen, the proof is in the pudding of our students closing deals and people getting tapes into them from doing our marketing. We want you to find six. We want you to close notes, all right? We want you to be a note closer. That's why we put this together. And that's what this episode is all about. I'm not mad at people. I'm mad at the shitty education they're getting, the lack of true content, the lack of true actionable steps that people can take to find deals. You don't need to be beholden to one person for deals because otherwise that's a bottleneck. And when that person runs out of deals, you're gonna run out of deals. So go learn how to fish. Don't get fed one day, but learn how to fish to feed your family for a lifetime. Because there is plenty of deal flow, there's plenty of notes, there's plenty of cash flow, plenty of opportunities out there. If you will just pull yourself out of this slump, pull the head out of the large orifice and start taking action to start marketing. It's not difficult. We're in the business. You have to market. It's 20, 25. We have AI and all these things to help make it easier for you. Systems, octopus, the all sorts of amazing things, Rocket reach to find the right parties out there that handle these things. Go take some action and we will see you at the top. Love you all. I believe in everyone on here. I don't care what your background is. Everybody's capable of buying notes. No matter how big or small you are, how old or young you are, whether you're rich or you're starting off with zero, there are opportunities out there if you'll just take the action. Take the tools and tips that we share on a regular basis and put it in your plan of action and then take action. Take action to get to the top. Bye everybody. We'll see you all later. Hey, real estate investors. If you have ever wanted to dive into the sexy side of real estate and become a note investor. Not just somebody that owner finances properties or buys and sells on terms, but somebody who's actually buying debt from lenders, mortgage bankers, hedge funds, on distressed real estate on both residential and commercial properties, now is the perfect time. And guess what? We have our upcoming three day workshop here in just a few days on July 25th, 26th and 27th. That's right, that's a Friday, Saturday, Sunday. You can join me live on Zoom on our Note Buying for Dummies workshop. We'll go through the Fs of how to find fund and flip non performing notes at huge discounts without having to use your own money. And we'll show you all the different ways that you can make money being a note investor. Day one's all about how we find these deals from banks, hedge funds and how you can automate the process of connecting with these people and get tapes and listen to you over and over again. Day two is all about raising capital and marketing and we'll show you how to tap into thousands of IRA investors who are looking for deals to fund and how to communicate and how to contact them and get them to fund your deals. And Day three is all about the flip the exit strategies. Putting deals together will mix in due diligence. We'll mix in the marketing side along with the structure side. So much stuff in three days. Live on Zoom with yours truly, the Note guy, Scott Carson. Make sure you get signed up by going to Note buying for dummies.com or click on the three day workshop tab on our Workshop. Get signed up today as we're still running discounts and you too can soon become a no buyer.