EP NNA 12 – The Finish Line

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NNA 12 | Note Investing Finish Line

NNA 12 | Note Investing Finish Line

Start with the end in mind. As note investors, ask yourself what are you working towards? What’s the finish line? Everybody’s finish line is different. Note investing is a race; you’re running against yourself and what you’re trying to achieve. Starting with the end in mind is actually going to help you push yourself to do more things. To close numerous deals a year, you’ve got to put some plans in place. Learn how you can ultimately achieve your goals with some rich nuggets and tips as Scott talks about how to identify your note investing finish line and working toward your goal.

Listen to the podcast here:

The Finish Line

We’re glad to be here. It’s Note Night in America. Our topic is all about the finish line and hopefully, you’re here to learn more about how to find that number, how to get to that point, how to literally identify what works for you, and what doesn’t work for you. That’s completely fair because your numbers are going to be different.

Before we dive into that, we have a huge goal over the next five years to help create and educate 10,000 note investors and we can’t do it without you. The big thing is 10,000 investors, five years. We want to average 2,000 a year. We’re on our way to doing that but we can’t do that without you, so important for you to do that. If you know somebody who’s interested, we’d love to hear from them, love to meet them, love to have them attend one of our upcoming workshops and go from there. For those of you that are joining us for the first time on Note Night in America, there’s always a variety of people on the call. We get real estate investors to join us here in Note Night in America with people that are known investors because that’s what our focus is. We also have people looking to get into the note business. That’s an important thing.

Excited to announce that our Note CAMP season one is up. It’s one of the things that we’ve turned into a podcast. Thank you very much. They were launched on iTunes. That’s important if you guys wanted to catch any of the episodes. If you paid for it and you got the downloads, you have access to that. We’ve got a lot of people that are brand new that are like, “That’s Note CAMP 5, I don’t know if it’s worth it.” The best way to find out if it’s worth it is literally go to iTunes, go to Stitcher, go to Google Play type in Note CAMP and you’ll pull it up. It’s a great way for you to learn. The keynote speakers, they’re rock and rolling. They’re really helped us out with some great things. We are looking forward to all the great input that you are going to say in all the reviews about what you liked and those that are brand new to Note CAMP. Those are available on iTunes podcast.

Our main podcast, The Note Closers Show, is over 96,000. Thank you for listening. We’re getting close to that 100,000 download mark. I wanted to get into the upcoming events. They’re putting on here Fast Track Training. We’ve got some great people coming in to Austin for a couple of days. Join us on our Fast Track Training. I will be speaking in North Carolina at TREIA Meeting at the Raleigh-Durham area, 200 plus people. We’re shipping books out to everybody in attendance. Thursday, Friday, Saturday is the Laughlin Magnify Your Wealth Summit taking place in San Diego. It’s a great place for a Laughlin client. I’ve got a couple tickets if you weren’t available to get them up. Aaron’s got me a couple of tickets. If you’re interested in going, let me know. I can get you in but you’ve got to attend. Next Fast Track Training is on June 15th, 16th and 17th. We’re excited about that. Got some great people coming in for that. We only got two spots available for the June Fast Track Training. Those guys that on here are going to be a part of that.

One thing to keep in mind is the National Social Media Day, which lands on a Saturday this time around. One thing that we’re doing cool for National Social Media Day is we’re doing a live stream with our good friend Kristie Whites from Serving Social for 27 hours straight. We’re going to kick it off at midnight, Saturday morning at 12:00 AM and wrap it up at 11:59 PM Pacific Standard Time with 27 hours. Some great speakers, great social media experts join us for that 27 hour live stream. July 13th or 14th is the Note Boardroom in Las Vegas. We’re excited about that. For the dozen people that are going to join us here in Note Boardroom, July 20th through the 22nd is the next Virtual Note Buying Workshop. That’s our next three-day workshop.

Our next Mastermind is August 23rd and 24th. It’s just two days because it butts up next to the Quest Expo on the 25th, 26th. It would be four-packed days in Dallas based on what the ladies at Quest told me. They’ve got two from 9:00 AM to 7:00 PM days there for the Quest Expo that Saturday, Sunday and we’re butting up our Masterminds so people are going to be at two events for the same one airfare. Lots of events that are coming. Mark those down on your calendars. Lots of opportunities for you to get involved and learn some great things everybody.

Note Boardroom is not a Mastermind event. We knew there are a lot of people that would want to get trained on things, but they can’t bite off the bullet and be in a Mastermind group or go through a Fast Track Training. We offered to get a test run on this one. Twelve spots, $2,500 per person. Come and spend two days, Friday and Saturday, in Las Vegas and it will be a mini coaching. It’s not going to be all into like what our Fast Track is or Note Mastermind group. It’s a two-day intensive training designed to help take your business if you’ve been doing it for a while. It’ll take you to the next level and stuff like that. For those of you who have never been to a Fast Track or Mastermind meeting, it gives you an opportunity to preview some of the things that we do there.

NNA 12 | Note Investing Finish Line

Note Investing Finish Line: Having a plan is a start but making sure it gets done is the important part.

Let’s get into tonight’s call about the finish line. We talked about putting together a business plan for your business. If you don’t have a goal of where you want to go, you’re going to squander your opportunity. You’re going to squander what you’re trying to accomplish. I got a lot of emails, a lot of bar with people, “Can you check out my business plan? Can you take the time to go through this with me?” I’m like, “I don’t have the time with everybody’s business plan but I can look it over and give some pointers.” Many people don’t know what their end in mind is. We all have to start with the end in mind. My buddy, Aaron Young, is always saying, “Start with the end in mind.” Where do you ultimately want to be? The thing about that too as entrepreneurs, as real estate investors, as note investors, what are you working towards? What’s that finish line? What’s that race that you’re running against yourself? What’s that race look like? What are you trying to achieve? Are you trying to get a fast 400-meter or mile or half mile or half marathon? If you’ve ever been in any type of athletics or competed in anything, you usually compete against yourself. What’s your best 5K time or your 10K time or half marathon time? Those are the things you’d go, “What did you close this month? What did you close this quarter? What did you close last year?” How do you push yourself to do more things?

As I’ve been talking with some of our students that are closing on a lot of deals, “I’m closing on 100 deals a year.” You can’t close on 100 deals a year unless you’ve put some plans in place. I said, “What’s your planning?” He goes, “We start with the end in mind.” I’m like, “That’s what I did. What do I want ultimately to look like in five years or ten years?” What is it I want my business to ultimately achieve for me? Is it do a variety of things? That’s what we’ve got to think about. What is that finish line for you? I can’t answer because your finish line is different than mine. What does that finish line look like? Figure out what are you working towards to? Are you working on sitting in the sand every day with your toes in the water, or your butt about to be in the water based on the low of the chairs? Are you working towards retirement? Are you working to leave your job? Are you looking for more freedom? You’re looking to travel, do more fun things that you want to do when you want to do it versus having to get permission from your boss? Are you looking to pay for your kid’s education?

I did a test podcast with the ladies from Quest IRA talking about college education and the cost of tuition, if you’re wanting to send your kids to school and pay for them to go to college. Here in Texas, you have Austin Community College from $12,000 a year up to St. Edward’s $61,000 a year. What are you ultimately trying to accomplish with your goal? What’s that finish line? I’ve achieved it. I’ve gone to the end. Is it to retire your parents? God knows a lot of us have parents that didn’t prepare for retirement. They believed that lie that was sold to them. We’ll get to that later on with that lie was. Is it to retire your kids? Which is unfortunate to say that but we all have friends that aren’t prepared, that have moved back in with mom and dad because they weren’t prepared for what life had to do with them.

The biggest question I have to ask you, if you can get anything on tonight, what is your why? Why are you doing what you want to do? For most of the time, it’s to provide a better living for our families. What does that look like? What does that number look for that finish line? Is it’s taking a vacation every quarter or is it once a year or once every five years? Is it working until you’re 65 or working until you’re 55 or continue to work to your 85 but doing something that you’re passionate about, like it’s real estate or something else. What does that look like? The most important thing I can get you out with is what is your ‘why’?

It’s a simple thing. This goes to the financial advisor side of me coming back out in this call tonight. I want you guys to answer this question for me. It’s anonymous. I don’t see who picks on what. All I do is get a percentage of how many people answered the actual question. For those that are on Zoom or are joining us on the webinar, I asked this question, “How much do you currently have saved for retirement in your 401K, your IRA or cash?” It’s multiple choice. Do you have $0, $50,000 or less? Do you have $50,000 to $100,000? Do you have $100,000 to $250,000? Do you have $250,000 to $500,000? Do you have $500,000 or more?

One of the biggest things they say, if you have $2 million to $4 million, you should have enough approximately saved. I’m not asking that here. I’m asking you, did you have something saved? Right now we’re at roughly about 44% of those that are watching this on Zoom have voted. I don’t see who votes online. It’s anonymous on this stuff. That’s the beautiful thing about it. “How much do I really have?” which is great, it’s awesome. For those of you that have a good chunk saved, kudos to you guys. Kudos to you, your spouse, you’ve worked hard. I don’t care whether that money’s in 401K’s or retirement accounts something like that. That’s awesome. Good for you. Congratulations to you for doing that. Unfortunately, you’re the minorities. Unfortunately, most people have less than $10,000 saved. Most people have less than $50,000 saved for the most part. In our thing here, we’ve got some bright people, smart people here that are doing some great things. We see 35%, 36% of the people here on the call. Roughly about a third have more than $500,000 million saved. That’s phenomenal.10% of you have $50,000 to $100,000. 17% of you have less than $50,000. Don’t worry, you can still get caught up. 19%, just under 20% have $100,000 to $250,000. A fifth of you have somewhere between $250,000 to $500,000. That’s great. That’s phenomenal. Thank you for sharing that. We have 82% of you that voted on that.

In the polling on that, the biggest thing was that you are savers. You are putting money away, which is phenomenal. That doesn’t surprise me that much. What does scare me is the 38% have less than $100,000, because you’re behind the eight ball a little bit. It doesn’t mean you can’t get caught up, that means you can’t do some big things. You definitely can. That’s what this is all about. I’m willing to bet those that have more than $500,000 saved have a plan, have a number they’ve already worked out. They’ve already sat down with their financial advisor, gone through what they need to do it. Thank you for answering that.

One of my favorite questions is this. One of my favorite movies is The Gambler, Mark Wahlberg and it’s got this quote in here I absolutely love. If you’ve never seen The Gambler, go watch it. I wouldn’t watch it by yourself, it’s got a little bit of adult language in it. John Goodman is a hard money lender. He’s going to bail Mark Wahlberg out by giving him $250,000 but he’s the guy you don’t want to be owing money to. Mark turned to go to pay off some gambling debts. That’s to say, that’s how far he ever been up. Mark Wahlberg goes into his character, “Because I’ve been up $2.5 million.” This is what he says, “You get up $2.5 million, any asshole in the world knows what you do. You get a house with a 25 year Roth, you put the rest of the system at 3% to 5% to pay your taxes. That’s your base. Get me. That’s your fortress of effing solitude. That puts you for the rest of your life at a level of FU. Somebody wants you to do something, FU. Boss pisses you off, FU. Own your house, have a couple of bucks in the bank, don’t drink. That’s all I have to say to anybody on any social level.” I laughed and chuckled about that. We rock some things here as well. It’s an opinion that I share. You work your butts off to the point where, “You’re probably going to say FU. I don’t need to do what you tell me you think you need to do.” There’s no better feeling than walking, telling your boss not FU but, “I’m out of here. See you later, alligators. I’m gone.” Because I’ve done the right things in my portfolio, my investing, my side gig, that I don’t need to sit here and take your crap anymore. I’ve been smart. I’ve had a plan and I’ve worked my plan and it’s paid off. That’s what it’s all about here, having a plan of action to make things happen. If you’re looking for an interesting plan, some way to go on and see what you’ve got, how long going to, there’s an F You Money Calculator. Seriously, I can’t make this up. I abbreviated the F. It’s an F You Money Calculator.

NNA 12 | Note Investing Finish Line

Note Investing Finish Line: It’s simple to build that plan up and keep it rock and rolling if you do the simple things on a daily basis.

I’m not going to share it on the screen because it literally does have some bad words on it. You can go to most any financial institution’s websites to check it out. You can go to Wells Fargo, Chase, Edward Jones, Charles Schwab and any of these institutions. They’ll have a financial calculator. Calculate your retirement. Don’t always believe what they tell you is the truth. Don’t let them distress you because you have to realize the mind of a banker is brain washed. They’re set there to brainwash people on the returns that they can get in retirement or that safe returns are hard or mid risk or risky returns are in retirement. They adjust it to show and brain wash the normal Joe. Try to get 8% ahead of time. When you retire, it will be safe at 3% to 6%, so you won’t lose anything. You and I all know that real estate, you’re making a 3% to 6%, if you’re happy with that, good for you. If you’re not making that, you’re making more. You’re probably wise off.

If you think with the end in mind, when they say that you need to be making 90% of your income is what you have to expect to retire on, 90% of your income. Let’s give you an idea. I ran a couple numbers based on if you’re getting an 8% return on retirement, a 10% return or a 12% return. I’m a big believer. If you want make $50,000 a year and you’re getting 8% on your money that means you need to put $625,000 away. Do you want to be making $100,000 year living off interest, that means you need to have somewhere between $1.25 million saved at 8% interest. We’re getting 8% interest on your %$625,000 a year, you’re going to see a $50,000 a year income. If it’s 10% return, that means if you wanted to make $50,000, it’s $500,000 saved.$100,000 means you need to have $1 million saved at making 10%, pretty simple math.

If you want to be a little more aggressive and you get 12%, you can have less saved because you’re being smart with your money or you’ve got some opportunities. If you want to make $50,000 coming off the interest, you’d only then need to be $417,000 saved, making 12% to pay you $50,000 a year. If you want a $100,000, you need to put$833,000 away at 12% to feed you off annually. You’re living off that. Those numbers are still feasible, especially if you’ve got investments that are paying you versus what a lot of the banks like to brainwash you, “Your income’s going to go away completely,” and I have yet to see a retired real estate investor.

“Please show 5% because investments fluctuate in real life.” I’m not showing you 5% because I’m not going to go through everything. You can use your calculator to calculate 5%. If you want to make $50,000, that would probably making 5%. Double the number, 10%, basically you’d have to have $1 million saved at 5% giving $50,000 a year. What I don’t want you guys to do is suddenly, “I’ve got to put up $1 million away.” A lot of people see that seven figures, especially if you’ve never made six figures, it’s hard to see making seven figures. That was the way I felt until I made my first seven-figure year. I realized that I had to grow into that seven-figure for me to go to the next level. You fluctuate up and you can’t be that same person with the same habits and same things you did before the six-figure person or even a five-figure person. If you’re making $50,000 a year, it’s hard to go from $50,000 a year to $1 million without doing different things. You have to grow into that position, you have to grow into that person, to grow into that investor, to do some smarted things out there to make that happen.

We all know that of the 40, 40, 40 lot. You’re in a work for 40 years. You worked 40 hours a week for 40 years to retire on 40% of what you made. That’s a big lie. I’ve never known a true real estate investor, somebody who’s doing this on a regular basis to retire. They may slow it down a little bit but they still are constantly doing deals. They’re keeping their mind sharp. The whole idea of things is that when you retire, whether it’s 55, 65, 75, what kills people the most is that going from a job or career and then going to retire, they’re not doing anything, they die off faster because their brain’s not working. I know that’s not you. It’s not real estate investors. Our brains are constantly working. We’re constantly networking. We’re constantly going out and buying new deals or learning new things that we can put in our tool belt. Entrepreneurs don’t buy that. I joke being 40, I’m expected to live to 87, I guess is what my life expectancy to be is 87. I’m a little lot longer than that. I expect it that means I still have over half of my life ahead of me. I can take what I’ve learned in the first 40 years and really implement it to really do some amazing things and I don’t care what your goals are in life. You’ve got more than ten years left in your life. Why not go do that? Why not go try to do something great? Go focus on your dreams. Chase those dreams or help that become part of your why. Help that become part of your finish line, “I want to do something different. I’ve always wanted to do that.” Great, do it.

I will tell you this, paper investors are always getting paid, whether it’s in paper on first liens, second liens, commercial, residential, owner financing, credit card, student loan debt or car debt. We’re always going to get you paying the paper game. That’s what I love about the note business. We’re always going to get paid in the paper game. Let’s focus on these some numbers that you need here and being the bank and how to get to that point on the finish line. This is all about a simple plan. This is not anything difficult. There’s not anything that’s going, “I’ve got to have a PhD in finance to get to it. I need another PE ratio. I need to know the expense ratios or the ranking of this.” No, we’re not going to get into any of that. Take a deep breath. Don’t worry about it. I want to bring in this quote by Robin Sharma, “Success lies in a masterful consistency around a few fundamentals. It really is simple, not easy, but simple.” Think about that. What are you saying? Have a simple plan, simple features of what you’re focused on will help you get success a lot easier. A lot simpler is probably the better word versus easier. I’m a huge proponent of this. Keep it simple, stupid. If you’re overplaying or over-preparing, you’re only hurting yourself.

Let’s talk about how to make some money and paper, paper profits. Let’s figure out some estimating numbers and percentages and some things here for you. Based on the scenarios where we’re at today in today’s market, I’m saying you’re probably going to see a 50/50 in as far as percentages of loans that you’re reinstated to loans that get modified. If you bought 100 notes, probably 50 of those and 50 are going to foreclose off. Based on those numbers, this is going to work for CFD’s, contract for deeds, first liens, under finance, even Reynolds. Reynolds, you’re not going to end up foreclosing on, but it doesn’t mean it can’t be something that you’d take back after you foreclose and keep the property or you going to deed in lieu decide to keep it for numbers. We’re going to assume, I know when you say assume, but for the sake of this to keep it simple, we’re going to say, “You’re going to be making $10,000 on REO profits,” can those REO profits and then roughly as their non-performing notes or deed in lieu cash for keys.

The loans that you get are going to be $500 a month on performing loan payments. Somewhere around $500, maybe $600 on one and before another one, just go with me on these numbers. Let’s start with something simple. Twenty deals a year is not difficult. That’s literally less than two a month. This is a plan that everybody can put into place. Twenty deals everybody, not difficult. If you’re half of the to foreclose on, deed in lieu, cash for keys at $10,000 each. You also had the other $10,000 you got re-performing at $500 a month. That’s a pretty good return on investment. We’re able to do that. You’re one, you made $100,000 off the REOs that you sold, probably more, but we’re keeping it simple numbers. You’ve got about $60,000 in cashflow, $5,000 a month off those ten deals that are performing at $500 a month. Those two numbers together, is roughly $160,000 in year one. Not bad, that’s pretty good. That’s roughly $15,000 a month income. Do those numbers make sense for year one there for you?

NNA 12 | Note Investing Finish Line

Note Investing Finish Line: Go focus on your dreams. Chase those dreams or help that become part of your why.

Twenty deals, ten to foreclose on, ten to get reinstated. Not too difficult. Every note investor can do twenty deals in their first year. Everybody can do that. Let’s talk about the year two. You’re doing the same thing all over again. Twenty deals, ten of them ended up foreclosing on, taking some REOs back or sell them off, and then the other ten you’re turning into cashflow. Another $160,000 a year. Year three looks the same way. Year four looks the same way. Year five looks the same way. That’s pretty good. That’s not a bad. You’ve got $150,000 off your deals going on here. Is that number correct though? No, that number is not correct for a couple of reasons. The first reason is with the non-performing notes you get that you turned into performing or you get a modified or you bought performing notes, those still stick around and they don’t go away at the end of the year. They keep paying you every year. I wanted to make it simple with these. Simple with this before we dive in the mess.

Let’s talk about the cash on REOs. REOs are a one-time. If you buy a deal, foreclose to it, you get money in, you can spend that money or you downplay your REO. I say double-down. Let’s say you spend that money, you’re using it for expenses. If you did that ten deals a year, at $100,000 a year, times 5, that’s $500,000 in five years in the REO sales off of 50 deals. The other 50 deals are notes that I keep compounding for. They keep working towards you. You don’t get rid of them, you keep them on. The first year you’ve got your first ten notes and bringing in roughly $60,000 in cash flow. The second year you add ten more notes, but you keep the existing notes, so you have twenty notes at the end of year two. Year three you have 30 notes, you just add another ten more, roughly one a month on an average. Year four, same thing, 30 plus ten is 40 notes. Year five, it’s 40 plus the 10 now you have 50 notes that are roughly generating you $300,000 a year in cash flow each year. That’s not too shabby, everybody.

Did you see how I got to that number? Ten notes, they’re re-performing, bringing $60,000 a year. $500 times 10 notes times 12 months, $60,000. $60,000 to $120,000, $120,000 to $180,000, $180,000 to $240,000, $240,000 to $300,000. Why does it go up by $60,000 each year? Because the fact is you keep the existing notes in place that you bought the re-performing. Why get rid of them from making 20%, 30% of your money? Even if you’re splitting the money cash flow, you’ve got 24% on a loan model. Why not keep it? You’re not going to get that hardly anywhere else. Let’s talk about what did you really make?500 REO sales, $300,000 in cashflow. That’s not bad.

$500,000 and $900,000 cash flow, 50 deals, bringing that in for you, you got over the five years. $1.4 million income. Basically it’s 100 deals in five years. Everybody can do 100 deals in five years. It’ll be working full time and still do 100 deals in five years. If you figure you’ve only got about a 10% acceptance ratio on your 100 deals, that’s 1,000 offers you got to put in place. Are you going to get better at your offers over time? Let’s say you get it up to 20%.If you had 1,000 offers over five years, that’s basically divide 1,000 by five is 200 offers a year. Seventeen offers a month, roughly four offers a week. Very, very feasible to do. If you bump it up to 20%, then you only got to make 500 offers and the number to divide it down. 100 offers a year, eight offers a month, two offers a week. These are simple numbers, but the point is what I’m getting at is I see people all the time that aren’t putting in the simple work.

I get text messages, emails from people, “I’ve made twenty phone calls. I’ve made 50 phone calls in the last two weeks. I’m getting disappointed. I’m getting stressed out.” Really? I make 500 phone calls in a month. Probably even got 100 phone calls in three days and not get anywhere. I really have no room for complaints. When did you send an email out to your database? You haven’t sent out once. Send it out again. You send out one, you get a response, it’s great. You’re right in the average of sales. 80% of sales made from the fifth contact. What if you don’t have the money. You’re doing this stuff for yourself? You’re buying $60,000 assets while you’re at a $50,000 average. You need 100 assets at basically 50%, that means $3 million funding. If you have a funding yourself, great, or you find funding partners that are happy making 8% to 12%.Trust me, if they’re happy making 8% to 12% of their money, which many people are, on the note side you should be still pulling in around 24%, 30%, especially get a non-performing, get it re-performing or a non-performing priced right that you foreclose on.

If you ask me that’s more aggressive, that wants a high return on investment, then you double your number. $30,000 times 200 assets. 200 assets still very feasible over five years. That’s $6 million in funding. That’s over five years. Those numbers are over five years. Now divide that number $3 million by five years, that’s $600,000 per year or $50,000 per month. If you meet a new investor once a month by blowing up and networking or sending an email out, one investor at $50,000 a month is what you need coming in to help you funding deals. Let’s say, “I need to find a chunk of people.” Yes, that’s twelve people. “Does that mean I need to find 60 people?”No, not necessarily. That would be great, but you don’t need a huge 2,000 investors unless you’re buying a big portfolio of $25 million to $50 million in assets, not the case. There are so many note investors out there or people that have money; it’s in the sidelines, not making anything. If you guys go back here and look at the poll number I just ran, let’s say those that have $50,000 to $100,000. There are10% of people out there that we’re on this call. Twenty some odd plus people that commented on here that they got $250,000 or less to invest this. I’m sure if they were getting 12%, I’m going to be very happy.

Those that have more, there you go. You want to make8% to 12% of your money? How’s your money performing for you? It’s not performing, you’re making zero? Let me help you put that in 6% or 8%. Those are simple conversations to have to make things happen. If you need to get aggressive, if somebody wants to split the partnership, then you need to raise $1.2 million per year or $100,000 per month or $25,000 per week. You’re plan is simple to get to. It’s simple to build that plan up and keep it rock and rolling if you do the simple things on a daily basis. I’m going to go buy 100 notes this year, that’s not going to happen in your first year.

You probably would make some mistakes along the way. The most successful people, they buy one deal, then they buy two, then they buy five, then they buy ten. They get their systems in place, they get their vendors down. They do a great job that way and that’s how they built success. Long-term success with those simple steps. Having a plan is a start, but making sure it gets done is the important part. Something I put together for you, I’m going to plan us a start. It’s better than nothing. Making sure it gets done is the most important part. It doesn’t have to be perfect. Perfection is the biggest downfall of most people. a blend is a start. That’s better than nothing, but making sure it gets done is the most important part. Doesn’t have to make perfect does. Perfection is the biggest downfall of most people.

NNA 12 | Note Investing Finish Line

Note Investing Finish Line: Success lies in a masterful consistency around a few fundamentals. It really is simple, not easy but simple.

What do I mean by starting a plan of action to start? Quick fine tuning. If you find yourself trying to fine tune everything, I will tell you right now, perfect people never find success. There’s definitely running the numbers and see whatever you close this month, how much closer am I to my goal? That’s fine and you will often find the better you’re at what you’re doing, your numbers will get deals. The bigger numbers won’t be as many deals because you’ll do better at what you do. You want to start taking real action. I mean real action, none of this like, “I’m going to do something to make myself feel better.” If you’re behind, you can catch up. Straight to the point. If you have zero saved, which is a chunk of debt. I don’t have hardly anything saved, don’t have any deals, just a chunk of debt, it’s okay. You can catch up.

You can do some amazing things still with a ton that we have left in this current market right now. You can do great things to catch up. If you’re a scaredy-cat, when you feel fear, I will tell you right now the fear is only in your head. Where’s fear breakdown, it leaves false evidence appearing real. Fear is only in your head. You are only limited by the lack of activity that you do. You determine your own success, whether you believe it or not, especially in this note game. You determine whether you’re able to raise capital. You determine whether you’re going to make offers. You determine whether you’re going to be marketing. What do I mean by this? Call more banks, make more offers. Do more videos, send more emails. If you’re not doing those basic of things, like attending events and networking more people, this is a very simple business.

Calling more banks, making more offers, doing more videos, sending more emails, attending events, adding more people to your database. Those are the six things you’ve got to be doing on a weekly basis, not a once a month basis, but a weekly basis.“ I’m no good in front of camera,” great, share a video, share a post online. You aren’t doing these things weekly, you are wasting time. “I’m going to do one video a month.” That’s not enough. Are you saying it’s more important for you to push off your goals of whether it’s to retire yourself or your spouse, your kids or your mom and dad versus you getting outside your comfort zone and getting in front of the camera? I bought this round circular light for$125. I can put my smartphone on it, I can put my Webcam in it. I’m excited to use it and then Facebook was acting weird today, but I still overcame, didn’t stop me from doing it. After taking ten days off on vacation, has it been like getting out of mud to get things rock and rolling? Heck, yes. I still did things a little bit with emails that went out today. We did the video. I worked with my trainer at noon. Had somebody called me up, “Let’s meet lunch,” had been easy saying no. No, I need to focus on, want to get focus on. If you aren’t doing things on a daily, weekly basis, you get your things done.

A lot of people have asked me over time, what’s my finish line? I’ve done it down here. I’ve had a number because I don’t have a lot of close family. I don’t have little kids running around besides the four legged time. This is something that I give a lot of thought to. My numbers used to be 400 times 400, so 400. I called it my 400 times 400 plan. I lined 400 notes, so they’re re-performing at $400 a month in payments from each one. It’s $160,000 a month coming in. Not a year, it’s $160,000 a month coming off that 400×400. We worked very hard and got a big chunk of that and we’re taking time, we’re going through those things. I’m not going to get some REOs, selling some assets off before we take on another truck here in the next 90 days. If I have that going 400 times 400, that brings in not only $160,000 a month, that brings in $1.9 million per year, that’s roughly $2 million a year. That’s what I want. I’m happy with that. I don’t need to make $10 million, I don’t need to make $50 million a year. I do that for two, three, four, five years, I’m set. I’m golden. Will I always be doing something the note side? I probably will. I have a big interest in the marketing and stuff like that and that’s where I find a lot of fun with that. It’s my artistic itch as Steph would like to say. I’m not much for painting or fill in the blanks, but I like the marketing side of things. That’s my goal.

I want half of those in my self-directed IRAs. For those of you that are like, “I would love that but I can’t do any of that,” if you were to put $5,000 away into your IRA, whether it was before tax day or you do it now, you could technically take $100 option fee and put it on 50 notes. $100 dollar notes, $100 option fee on the note, and with $5,000, you could secure it on 50 notes. You just need to find somebody who will help you out there. Usually a hedge fund, not going to buy direct from a bank. The likes of some option fees will wholesale those off or put those into your IRA. You can grow wealth relatively quickly. We’ll actually be doing probably a Note Night in America training on options. We’re going to save for the WCN Crew. That’s what we’ll talk about on the WCN Crew training as to how to do option fees with your IRAs. That’s my goal. That’s been my big goal for a while. As we get closer to that number, my numbers change. Maybe it’s more. Maybe I’m just not going to do as much anymore. I don’t have to burn the candle at both ends because let’s face it, we worked our asses off for three weeks before we take our vacation, the Note CAMP and then the Mastermind and everything into that. I’m really excited about that. April was one of our best months ever. May’s going to be even better because we worked our ass off. June may not be much because we’re going to take some more time off.

That’s what my finish line is. Steph and I know we’ve got some big plans that we want to accomplish. She’s got a very big heart for animals. I have a big heart for our military. We’ve got some things that we want to do. We’re going to fund it with our deals. We’re going to fund it with our annual deals. There are people out there that don’t have as big goals in mind. That’s completely fine. They don’t have to have as big ones. I got some big things I want to do here in the next few years. That’s ultimately what I want accomplish.

NNA 12 | Note Investing Finish Line

Note Investing Finish Line: If you’re overplaying or overpreparing, you’re only hurting yourself.

The biggest goal I can tell you is finding out what that finish line is. Figuring out what would I be happy with coming in? If you were today, you’re making say $50,000 grand a year, figure out what it takes for you to bring $100,000 or $75,000, because your whole life changes. I’m not talking about scraping by, I’m talking about having some fun. It’s not fun to work so hard if you’re just going to scrape by. You want to be able to have some fun. Do some fun things, take some fun trips. I challenge you all. Look at what you’re making this year, what you’ve made in the last twelve months, what you made last year and add a zero to it or add half of that number. You made $50,000, add another and $25,000 to it. Challenge yourself to make $150,000 the next year so it’s $75,000.I have a plan. I want all of you to have a plan because if you have the plan, it’s going to help guide you on your path. It’s going to help guide you to your finish line. It’s going to help you get to where you want to be and you can tell everybody else FU. I got FU money, FU.

Every great journey begins with a single step. This is the biggest thing that if you’re struggling, if you find yourself tweaking your presentation, tweaking your business by trying to make everything perfect before you take a step, stop. Just do it. Just start taking plan because I guarantee no matter how great you are, how perfect your business plan is, 30 days into it is not going to be even close. You’re going to F it up. You’re going to screw it up and that’s okay. That’s the way you learn, that’s the way you get ahead in life. Thank you for being here. Go out and make something happen. Go do. Take some action. That’s all I ask. Trust me, I’m the most happiest when I get people telling me, “I’m closing on another deal, closed another deal, closed another deal,” that’s what I want. That’s my biggest gift for you is when you realize that you are the master of your own destiny. You are the captain of your own ship. That what you do on a daily basis ultimately affects your open outcome. It’s not that anybody else, it’s you. I think you’ll act differently. I know that I did. With that, go out have a great day. Go make something happen. We’ll see you at the top.

 

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