Why You Have to Learn the Art of Note Investing

Foreign this is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property For Panties on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now here's your host CEO of We Close Nodes, Scott Carson Hey Real estate investors, this is Scott Carson. I'm known across the country as the Note Guy and I've been an active note investor focused primarily on the niche of non performing notes, distressed mortgage notes on residential commercial properties for almost 20 years now. My company is we close notes.com and I know there's a lot of different things when it comes to the note world. Are you buying performing notes? Are you buying owner finance notes? Are you buying institutional debt? Like I would focus on Are you buying first seconds contract for each There's a lot of questions and it can be very confusing about what you can or cannot do. So one of the great things that we've hosted for the last couple of years that we do on just about a regular monthly basis is we host our one day class called Note Weekend. If you go to noteweekend.com you can register for our free three and a half hour class. We'll talk to you and share with you how you find fun and flip non performing notes. And yes, you can buy non performing notes from banks, hedge funds and a variety of different hard money lenders out there for your own portfolio. No, you don't have to have millions of dollars to dive into the non performing note game. We've got students that have bought plenty of deals with 2530 grand getting their ball rolling using their self directed IRA who are tired of dealing with toilets, tennis trash desks, tired of battling contractors and GCs to get properties rehabbed. We all know the market is changing and while it may not be like 2008, 9 and 10 again, it we do see a lot of distressed debt out there on both the residential and the commercial side. So if you're thinking about diving into the note game, becoming a note investor, a lean lord as you'd like to say, versus the landlord. Or you just want to figure out what it is about the sexy side of real estate in the note space. Well, check it out. Noteweekend.com doesn't cost you anything. We host it live usually the first or second Saturday of each month. You can go today. Register at the website noteweeking.com Register for the next live class we host. You'll get sent a replay to the previous class so you can start learning about the note business today. No questions asked, no credit card needed. This is a great way for you to dip your toes in the water and see if it's warm because I guarantee going through Art three one day class. You want to dive into the deep end and become a note investor. So check it out noteweekend.com you can also go to our website. We close notes.com check out our podcast. Check out our YouTube number one YouTube channel. We are here to help support you. Whether you're experienced investor or you're brand new investing, Note weekend is a great place for you to get the ball rolling. People often say we cover more in our three hour class than most people cover in their three day class. So check it out. Love to have you be part of our note family but get signed up today@noteweekend.com thanks and have a great day. Good morning, good afternoon and good evening everybody. Welcome to this episode of the Note Closed Show. As always, Scott Carson. Excited to be here with you today and share some knowledge nuggets to you. And I just want to this episode I'm going to talk a little about how people are shooting themselves in the foot and I feel that I don't know how many phone calls and emails in the last three weeks. Note investing is getting excited. People are looking to do it, which is awesome. Always great with the market being like it is. There's plenty of inventory to go around. But I'm always amazed that, how do I say this? I'm always amazed that people want to get into something. They try to band aid it. They try to. And I get it if you're hamstring for funds you don't want, may not have a lot of time or have a lot of resources to learn, but no business. But you got to take a class. You've got to learn the ins and out. You can't trust a bigger pockets article from years ago. You can't Trust videos or YouTube, you know, things or podcasts that are even more than a year or two old. Because things change. I had a great call with a young guy out of Connecticut today who's just a hustler. He's actually calling banks and calling asset managers. He's taking. He actually took one class, not on the non performing side, but he took it from a guy teaches owner financing, which is great. There's nothing wrong with that. But you can't apply your owner finance strategy strategies to strategies for tracking down non performing performing notes. You can't take what one buddy, one person says is a fee. Because the guy was telling me, he's like, I've had a couple of people, hookers. I'm trying to broker some deals and make some money, but my fee I think is what shot it in the foot. I'm like, well, what's the, what kind of fee were you. I was trying to make six points on the deal. I was like, did you even calculate what six points was to your buyer? He goes, no. He goes, what was like six grand? I'm like, okay, but what, what did that mean to your investor or the buyer on this? Because I didn't think about that. I'm like, yeah, if you're, you know, if you're just trying to sell a performing note and it's in the 90% range or 80% range or whatever it might be, six points is way too much. That'll kill the deal. A normal fee on a not on a performing note is 1% on a non performing. It's normal to trade it like three points. Now that doesn't mean you can't get six if the deal's good, depending what you're paying for. And, but I asked him what was the yield? He couldn't tell me how to calculate yield. He couldn't tell me the ROI that the seller was giving. And those are issues and I, I have nothing with. I'm, I'm so grateful that the guy is out there hustling and he just needs, I'm willing to work with people like that that hey, you just need. Hey, sign up for our one day class noteweeked.com. if you've not done that, it's free, doesn't cost you anything. It's there designed to help you understand how to get started. I mean I had another phone call after I talked to this young guy with a realtor out of California. She's wanting to buy notes in California. And I asked her why have you taken any type of training? I'm a realtor. I've been a realtor for years. I used to deal with short sales. And I chuckled. I was like, well that's great. But short sales and being a realtor is phenomenal. Congratulations your years of success. But being a note investor is different than being a realtor. She says, well, I know how to pull comps. I'm like that's great. But do you know how the comps and how the debt and the payoff value and the legal balance all affect your offering in the foreclosure time Frame. And she couldn't answer that question because she didn't have an answer. She didn't understand it. And then she wanted to go immediately, well, what about buying seconds? And I just chuckled. I'm like, well, seconds, there's not a lot of seconds available like there was back in 2008. Seconds are pretty much overpriced because the values on properties have gone up and now these seconds are over, encumbered. There's no reason for the bank to take a big discount like before. So you've got to look at what you're doing. And both people, oh, I read an article on bigger pockets. I'm like, how old was the article always? Like three, four years ago or five years ago? I'm like, well, understand that bigger pockets is a dumpster fire. There's a lot of stuff on there that's outdated. Or you get people that are on there commenting and they got thousands of comments, but that doesn't mean they've closed thousands of deals. So it's important if you're sitting on the sidelines or looking to get started, you want to dive into wholesaling notes or buying notes for your own portfolio. You got to understand that, hey, you can shoot yourself in the foot by not understanding what you're buying. What are you looking at? How to bid effectively, how to evaluate these deals because they're different. Note investing is not, is a form of real estate investing, but it's not fix and flipping. It's not going about and buying a property and putting a renter in it. That's. Every niche is different. I had the same lady asked me, well, what about multifamily? What about self storage? Like, well, do you understand how to evaluate those deals? Because they're different than buying a single family. Well, I got a, I bought a five plex. Well, that's great. A five plex is great. Do you understand? It's a little bit different process on that stuff. It's a longer process with commercial deals and residential deals. And look here, I know there's a lot people that will hit you heavy on the, on the head for. They'll pitch you to death. They'll pitch you into a two day class and then pitch you into coaching and they won't tell you anything. I get that. That's not the way we work. Yes. Do we have a coaching program? Yes. We have classes that we teach. Yes. But my biggest goal and my vision when I started this years ago was I was that humble guy coming out of Ron Legrand classes, traveling the country. And I promised that if I got to where I could be, I would try to help as many people achieve success as possible. Yes. Is my time worth something? Yes. Is my experience worth a whole lot more? Yes, it is. But I understand. And if you're hungry and you are seriously saying then take a class, take an eight hour class at least. If you're not going to do that, I can't help you if you find that valuable. And guess what is worth signing up for our WCN, our monthly membership at $97 a month. It's worth taking the different classes are involved with that on the three day note buying for Dummies workshop, the one day wholesaling class, the one day calling banks, the one day in due diligence classes. All those classes are included in that. And it's so valuable to help you understand that how note investing is different. There's more to it. You have to think like a banker than a fix and flipper. And so that's what I wanted to just take a second to you We've got, you know, YouTube University is great. We've got the number one YouTube channel, obviously the number one podcast for note investors. That's not boasting is just true fact based on downloads, views, everything that's been around. We're just here to deliver content for you to help you make educated decisions. It's, it's. Can you piece together how to be a note investor by listening to our videos and watch our YouTube channels? Yeah, you could. But it's gonna take you a lot longer than if you actually just gussied up and paid for a three day class to make things coming into picture for you. Because if you try to take a little bit from one person, another person and what they offer for free, they may not even be talking about the same thing. Yeah, it Italian sounds a lot like Spanish or Spanish sounds a lot like Italian, but there's a big difference to that language and people speak differently. You got to understand asset managers are going to ask you something and if you don't know it, they're going to know exactly that you don't sound like you belong. And the last thing you want to do is do all this hard work to hustle just to shoot yourself in the foot when if you just took a little bit time and took a class, you'd be a much more educated individual out there. And that's, you know, that's what I just want to go out today. Don't shoot yourself in the foot. Get educated, learn the craft. We're all going to be real estate investors for a long time, hopefully. And if you're going to focus on one, two or three or whatever niches you are, it is worth you, it is worth your time, it's worth your energy, it's worth your money and it's also worth your, your future investors, whether for you to understand exactly what the hell you're doing. Because how can you replace my 16 years of experience? You're not going to do it in a day or two days or in just an hour, but you can do it by getting coached. Sign up and let me try to help you avoid those big potholes, let you avoid those landmines out there that if you don't know, you don't know. I get it. Ignorance is bliss until you've actually stepped on a line mine and blown up your deal or blown up your investment opportunity out there. There's nothing more frustrating than doing a bit of work only to have it blow up because you do something stupid. And you know, I'm a big believer that there are, there's a lot of great deals out there, plenty of deal flow. Don't let people tell you that. Oh deal. There's no deal flow. And notes this there is if you'll know how to market. And part of it is taking somebody's expertise like mine, taking the class, learning how to market, learning how to go find deals because we're not running out of deals. We have plenty of deal flow coming in on a regular basis because we know how to market, we know how to make connections to the bank and asset managers and hedge funds and show show you how to find those things. So if you're interested, yes, this might sound like a bit of a pitch, but go to noteweekend.com that's our free one day class. And here's the big thing, ladies and gentlemen, I want to help you close deals. If you are sitting on the sidelines with money in a retirement account, a checking account that you want Invest, you got 10 grand, you've got an LLC and you don't just don't know where to go, please reach out to me. Book a call@talkwithscottcarson.com let's help you close your first note deal. Are we going to charge a commission? Yes, but we'll help you. We'll help you with the due diligence, we'll help you find a deal, we'll help you make a decent return. We're not going to knock 30, 40% returns for you because those you know, but we'll help you find a performing note that'll pay you 8 to 15% that you'll have in your IRA or your LLC. It'll be a note that you own and you'll learn so much more by doing and taking action and understanding that. But you got to learn. You got to crawl before you can run. Or really, you got to crawl before you walk. Most people are trying to run out of the gates and they're falling flat in their face because they don't understand the foundation, the mindset, and how you have to approach note investing differently from your fix and flip or your rentals or your wholesaling classes. It's just different process. So like I said, we've got, we want to help 100 new note investors buy their first note before year end. Plenty of deal flow, plenty of great deals out there. We're not talking you don't need a ton of money to do this. You got ten grand at least. We've seen some deals that would be a pretty good little yield to you, probably better than 0% sitting in your IRA account for the last 6 to 12 months. So please reach out to me. TalkwithScott Carson.com youm'll probably hear me talk a little more about it later on. We, we just discussed this last night on Note Night in America. So make sure you check out that episode and the Note Night in America podcast or by going to our YouTube channel and checking out the YouTube replay video of the Note Night in America from last night on August 28th. So go take some action. Learn the what you learn your craft that is so important to be an expert. And being an expert, I think Grant Cardone has sent it me takes 10,000 hours of doing something to become an expert. And if you're trying to do it on 10 hours or an hour, yeah, that's a recipe not for success, but a recipe for failure. And you if you'll just be a little humble and a little patient and take some training, you'll be a lot better off. Okay, it's kind of like this. Think about this. When you're trying to drive a car, how many of you got behind the wheel and just started driving without practicing or without your mom or dad sitting next to you holding the steering wheel or grabbing the brake or having to drive around a parking lot? A lot of you, you're getting into a car and you're like trying to drive on the interstate right off the bat with no training, no practice, and you're gonna get in a wreck you're gonna end up in a ditch or better or worse off. So don't. Don't do that. Avoid the train wreck or avoid the car wrecking. Wrecking your car, wrecking your vehicle. Get a little training. Have somebody hold your hand and walk you through the process so you don't end up hurting yourself or hurting your business. And make some money along the way. So anyway, that's all I've got for today. Go out, take some action, buddy, and we'll see at the top. Bye, Sa.