EP 503 – The Tale Of Two New Note Investors

NCS 503 | Different Note Investors

NCS 503 | Different Note Investors

 

In the note business, there are two types of note investors: the newbie and the experienced who is trying to get into the note business. When comparing who will succeed more, the usual guess leans on the latter. However, that is not always the case. Scott Carson discusses the outlook and questions from two different note investors and which one he believes will be successful in the long run and why. Offering pointers that will lead you towards the successful path, he breaks down some marketing techniques and approaches to find deals that you need to implement now more than ever. He also shares some great advice that will motivate you to keep going in this industry in the long-run.

Listen to the podcast here:

The Tale Of Two New Note Investors

It’s been of a hectic schedule around here. We headed out to Podcast Movement in Orlando and we’re able to hang with our other extended family, I guess you could say, of podcasters from across the country, getting together over 3,000We had a good time hanging with them. It didn’t stop us from doing business and selling quite a few assets off. We’re selling some moreIt’s always nice and fun to coordinategoing to an event and attending with 3,000 people that you’ve looked forward to for six months and then also run up to the room, “Let’s get some contracts and get some bids and counters.” We’re still in the process of doing that. I also had the good fortune of speaking at a real estate investment club. I enjoyed that. It had over 50-plus real estate investors. That club has been around for 30-plus yearsIt was great. They welcomed me with open arms. We had a great time visiting and it was great to share knowledge with those investors about the note business. 

Two Note Investors

Our topic, we call it The Tale of Two Note Investors. Why am I calling it this? What was funny is as I’m in the hotel working, I’m getting phone calls from people. One of the few things I love using is the Calendly app that people can schedule a phone call with us to speak with us. I’ll talk to anybody for 30 minutes, anybody who’s brand new. I’m glad to talk to you on the phone, visit with him, talk about the business and real estate. We have a lot of our students that called to inquire about things. People are going through our Note Buying BlueprintIt’s a great time. It’s one of the favorite things I love doing each day is having those conversations with new or experienced real estate investors and people new to note. 

For the most part, it was experienced people. had two different phone callsIt was interesting because they’re both on the opposite sides of the spectrum trying to come into the note business. I had these types of conversations weekly with investors. One was a brand new investor. He’s brand new to real estate. He has only been in real estate roughly three to four months, but he’s hustling. The other investor is very experienced in commercial real estate and property management doing fix and flips in two different sides of the countryOne’s in California, the experienced person. The other one is in Louisiana. 

The thing that was interesting is both asked a lot of great questions like, “What are some of the things I should be doing to be smart about this? Where should I be going under to get deals? What should I be doing? What are the steps that I need to be taking to get things done? I will start with a wholesaler aspect of it because that’s what basically what you’ve been diving into. He had deals. He made some money in his first few months. He was hungry and he had accountability business partners doing some things. It was great stuff. He didn’t have any funds. He didn’t have any of his own money 

He’s relatively new out of school by about a year or two, but I found I’ve been networking with his local real estate club. He had already made a name for himself is what I had heard. He’s getting well-known areas, getting deals done, doing a great thing. The other investor has been doing stuff for a while, as said. He was in commercial real estate, commercial property management and he was like, I want to get away from doing this. I don’t want to do this. Notes are the best route.” He’s done a great job of putting some money aside. He said, I want to use my funds. What was funny, they were both asking me about our mentoring. 

What’s funny is how people perceive thingsThis is an interesting thingThe guy in the wholesale was talking about things like, I’ve learned a lot from you so far with the Blueprint and the podcast episodes.” He says, I can’t waitOn my mind, my goal is to become a part of your Fast Track, to come in and spend a couple of days with you. I know I can do a lot of big things, but I’m not at that point right now. I’m like, “That’s fine. Rock and roll.” This guy’s out hustling it, the wholesale and stuff. He’s building an investor’s database, his local networking clubs, he goes to two or three, not only in his city but in other areas around his town and he’s doing a great job. 

The other guy is doing a great jobalready he had a bit of a network but I don’t think he was going initially to his local real estate club. He knew that in southern California where he’s located, there are quite a few note investors. He’s talked to some of our students, past or present. They have good things to say. It’s a great thingOne guy, the wholesaler, has a lot more time to put into it. Roughly 20plus hours to 30 hours a week because that’s what he’s looking to doHe still works a part-time job, but hgot motivated because he needed to pay some bills. Let’s face it. We all go through that. We all have that point and we’ve got to pay some bills and he was hustling and that’s one of the great things I love seeing and people. 

The other guy, he’s doing well, he’s putting some money in the bank, he’s got some savings, he’s got some things rock and roll, but he’s not happy at all with what he’s doing. He’s not happy all with the property manager. He didn’t want to deal with toilets and tenantsThe funny thing is he was asking me all these questions. It took full 30 minutes and it’s great. I don’t have a problem with that at all. How should I find this stuff and what should I focus onIt’s funny, as I finally got down. I was like, “What’s the issue here?” He’s like, “I’d love it if it was in Southern California. I was like, “If you’re looking for stuff in Southern California, by all means go do something else. Stick to what you’re doing. You’re not going to be happy. If you can’t get beyond the mind block of getting outside of Southern California, you’re going to have hard time.” “No, I can do that.” He goes, I want to use my own money at first. I want to do it by myself. I’m like, “That’s fine, but what’s going to happen is you may find a sweet deal, fund it, now your money’s tied up. He’s like, “I’m good. I got my own money. I don’t need to market for other people’s money.  

That’s why I was like, “No, you’re going to need to do that still. You’re still going to need to market. You still need to get a network. You’re still going to need to do the things you need to do to raise capital to close individual deals. The fact that you’re in Southern California, in a much higher targeted area for raising capital than the wholesaler was.” We went back and forth and he’s like, “Tell me about your Fast Track training. I’ve heard about it.” I was telling him. “I don’t think it’s worth the $15,000,” is basically what he sold me. I‘m like, If you don’t think it’s worth that, that’s fine. That’s your opinionIf you’re struggling to find success, you’re unhappy where you’re doing with it. You would rather do something that will help you get to where you need to go in 60 days versus six months or six years.” 

Because he only had roughly about ten to fifteen hours a week. I asked him, “If you’re doing this and doing this, how much time do you have with your spouse?” He goes, “Not much. I was like, I don’t think you should be doing this then. He was like, “Why? I go, “First and foremost, if you’re not spending time with your spouse or you do not have a lot of time with your spouse, that’s not a good sign. You want your spouse to be supportive, not be upset that you’re dabbling with something else. The second thing is you’re going to use your funds. That’s the point. You can sit here and argue with me all day long. If you want to build where you’d need to replace one of your incomes, what you’ve got going on and you want to walk away from the property management side, you’re going to have to learn to leverage other people’s money. If you want to do it in 60 days, that’s great. I think our Fast Track is the best way to do it. If not, keep studying the blueprint then try to do it yourself. 

NCS 503 | Different Note Investors

Different Note Investors: A lot of times, people that are newer to the game have a better success rate because they haven’t learned bad habits.

 

Who Will Succeed?

The other guy, he was like, “I don’t have any money. I understand it. How do I need to do this?” One of the things mentioned with both is I said, “You can jump on the county records. You jump on the county appraisal clerks office to find people who bought using self-directed IRAs or who have funded deals and loaned money out of their IRA. One was like, “It’s a great thing.” The wholesaler, the other guy was like, “Okay.” Who do think is going to be more successful in the note industry? You may have already figured this out. The person I believe is going to be more successful in the note industry is the wholesaler. Why is that when the other person has more experience and has money in the bank to do some things? 

That’s not saying the other guy here is not going to buy deals, is not going to close the deal. Long-term, I believe a wholesaler is going to have a better take in the note industryWhy is that? He’s hungry and he’s coachable. He’s not going to argue about somebody when somebody is trying to give him information and gave him counsel. We’ve all been guilty of thinking we know more than what we know at some point, but if you’re going to be successful in this industry, you’ve got to listen to other people who are aware who you want to be, who are closing deals or closed a lot more deals than you have. 

If you’re going to argue with somebody, I don’t want to say argueargue is a strong word, but pick at somebody’s experience and how they’ve helped hundreds of people and some of them you’ve already signed up for, it’s difficult. That’s the one thing too I see happen a lot of times, but some of our students come in, they’re like, “I’m just going to watch these parts of the training.” I’m like, “No. You’ve got to watch it all because it all builds upon each other. You can’t go on a hunt and peck. I’ll give an example. If you were a brain surgeon, you’d go through twelve years of medical school before you became a brain surgeon. A lot of people want to come in and read it and learn one part, how to slice and dice and they want to be a brain surgeon and that doesn’t work that way.  

You’ve got to know the layers that go to. You’ve got to understand the layers, the organic chemistry and the basics that go with it. It is not the same thing as going out and buying and flipping a property. It’s not the same as going out and buying a rental. The note business is completely differentThat’s another thing that I see, new versus experienced. A lot of times newer students, people that are newer to the game have a better success rate because they haven’t learned bad habits. That happens to men who haven’t been ingrained. I’m not saying that the other guy had bad habits, it’s that he’s got his experience as a fix and flipper or as a property manager. I’m not saying it’s bad experience, but he’s going to rely more on the real estate side versus understanding something new and learning the best ways to do it.  

That’s why some people say it’s easier to train somebody brand new in the industry than it is somebody who’s experienced because they got all these bad habits or bad premonitions that they’re constantly kicking. I’ll give you a great example. Years ago we had a friend refer somebody to come in and we were, “He’s a local realtor, we’ll have him work with us.” We gave him the stuff to watch. He came to a workshop but he didn’t pay attention. He wasn’t in the room half the timeWhen he came down and making bids, he way overbid on assets. We had this whole tape of Georgia assets a few years back. He way overbid based on the values of the assets. I’m like, “Look at the unpaid balance. Why do you want to make full offer? “Because there’s all this equity.” I’m like, “You’ve got to listen. That’s not what we’re bidding off. Did you not watch what we’re doing?” “No. 

One other thing that we did was we brought these assets in. I had another student and him get together and they were doing due diligence. This guy’s like, “I’m going to let him do it all. It doesn’t work that way. Jump in, pull the values and work together on bids. You can work smarter combined versus, I’m not going to do it. He knows more of that and what it is. I can’t learn anything,” and shut downThat’s what happens and I speak from experience here, is a lot of times we get older, we become handicapped. We handicap our minds. I always make the pun, if we hit and learn to walk as adults, many of us would be paraplegics or quadriplegics. Because as kids, we learn, we fall down, we get up and we crawl and we skin our knees, we fall down, we cry. That happens to us all. You learn from that experience and you build it and go from there. I’ve always seen that people that overeducate a lot of times aren’t pulling the triggers as much as they can. They overanalyze paralysis a lot of times where they go, “I’m going to do it my way. 

If your way was working, why would you be calling me? Why would you be signing up for classes? Why would it be training? Why would you be on the phone with me? If your way’s not working, then you need to be humble enough to swallow your pride and go from there. I’ve done that. I called somebody and said, “What I’m working on right now isn’t working. Can you help me? Can I pick your brain for 30 minutes? Can I talk to you a little bit?” That was one of the great things about spending some time out in Orlando at Podcast Movement. We’ll be sitting there and be able to pick the brains of other people I respect in the podcast industry, real estate industry and finance industry. We were able to chance to visit with them and talk about different scenarios, situations and things like that. Things that have happened in the past, things are happening in also the future of where things are going. 

Where Are You At Right Now?

That’s the thing that I want to tell you. If you’re reading this, I want you to think about something. Where are you at now? Are you happy with where you’re at? If you’re not happy with where you’re at, then it’s up to you and ultimately it’s solely up to you, not anybody else, not your parents, not your family, not your friends or not your boss. It’s up to you to do something different about where you’re at. You have two choices. You can start making decisions and start doing things to hit that or you can sit here and bitch and moanUnfortunately what happens a lot of times is most people will sit and bitch and moan about things. They’ll complain about things on social media or other things, “I can’t do that. They’ve never pulled the trigger in their lifeThat’s the most frustrating thing I see out there is I see so many amazing people doing amazing things and the family’s not supportive. They need a shut-up check. 

mentioned having a shut-up check for your spouse or your family and people are like, I need one. I said, “Isn’t that unfortunate that we live in one of the greatest countries in the world? You can still go out and do things. You can still make a name. You can still do amazing things to change your name. We’re not based on where we were born or what social class our parents were in. We can go out and write your own story up there. Taking it back, everybody has different goals. Everyone’s got different goals and different timelines. You can’t judge yourselvesI’m not judging anybody. I’m simply talking about the fact that if you find yourself very hungry, young guy, another younger guy, maybe a little bit older than the guy, but if you’ve got experience, great. How did you get that experience? It’s probably because you were mentored and you had somebody teach you along the way. Go call and ask your mentors and try to nickel and dime down and tell him that he’s not worth it. That’s fine. Go check everybody else out there. That’s fine. 

That’s the thing. I have a big heart, a big passion for helping people. I always have. People know that about me. Our proof is in the pudding of how many students we’ve helped. There are thousands of thousands of investors out there that we’ve helped out over the years of teaching. It’s hard to believe it’s been years of teaching real estate investors, how to invest in notes. We’ve made mistakes along the way tooSomebody mentioned, Scott, I’m glad I can learn from your mistakes.” I would agree with that. I’m glad you could learn from our mistakes too. A lot of times, especially when you’ve had things have happened along the way, make it bend over and buckle and ease a little bit and keep gliding forward. We’re going to keep buying and selling assets. That’s what we do. We’re going to keep teaching people how to do it. We’re going to keep adjusting our training for what’s going on in the market. 

NCS 503 | Different Note Investors

Different Note Investors: The more due diligence you can dive into it, the more successful you’re going to be because you’re going to know the deal.

 

It is what it is. The market’s changing. You’re starting to see things like on USA Today talked about the recession here, what you can do to recession-proof yourself. You have to keep that in mind that we’re due for another downturn or we’re starting to see the signs of it. What you’re doing in your real estate career and your portfolio right now is important. Between now and the next 36 to 48 months, what can you be doing? First and foremost, if you’ve been holding on to assets to sell until the peak, you better do it now because the peak is already starting to curve fast. Secondly, you want to be buying cashflowing assets that will cashflow in an up or down economy. People always need a house to live inIf you’re buying out, buying them at a discount, make sure that the mortgage range is below the market rents. Buit at a discount. Don’t be paying above valueUnderrehab your properties. What do I mean by underrehabbing properties? You don’t have to go above and beyond with all the stuff that you would use to live in a property. I’ve seen this happen time and time again that people over rehab. 

How do I know this? originally did a couple of my fix and flipsI over rehabbed it. I didn’t get what I needed out of it. Keep that in mindWhen you’re looking at your numbers, rent rates, modification, and things like that, you can’t count on the best of the best. You’ve got to make sure it’s okay. What happens if I can get 80% of one thing, 80% of the rent rates? It gives me a little bit of cushion. If rent’s $1,200, $1,000, my numbers make sense because I’m at $900 or $800 a month and usually it willThe second thing you want to do is don’t overspread yourself. You may want to start narrowing your focus a little bitThe more youre streamlining, maybe you want to postpone performing notes for a little while. You get a decent return on stuff that’s going to be continuous stuff on there.  

Now Is The Time To Be Marketing

Maybe you want to narrow in your focus and you’re not buying five states, but focus back in a two or three good core areas that you can invest in. Now’s the time to be marketing more than anything elseThat was another thing too. While I was talking to these two note investorsone was all gungho. He’s like, I’ll do whatever I needed to doWith marketing, I used to send emails out and I can save a ton of money doing that. “Do you mean I’ve got to send an email out? What do you mean you mean? Do that. If you’re not going to even do that to asset managersyou don’t even need to be in the note business. You can be in the funding business if you want. Stick to your property management, your commercial stuff. There’s nothing wrong with that. I’m not bashing that experienceThis is to everybody out there as well. I take this advice as well. If I need to do something new, I’m going to be reaching out to the people that I respect and I ask them their counsel. I’m not going to nickel and dime on their comments. I’m not going to cherry-pick the nuggets that I agree with and discount their experience. They don’t see me the same way and that’s a good thing. Don’t question that type of thing. People want you to succeed for the most part. 

As far as I know, everybody wants people to succeed for the most part. There are haters out there. There are people that will bash you no matter what you do, whether you’re good or bad, whether you’re male or female. I don’t care about your sex. I don’t care what your skin color is. I don’t care what your education level is. People are not going to like you no matter what you doThat’s okay. You got to focus on that. As I said before, the three bundles, the 33% that lovyou, forget about the 33% of people that dislike you or hate you. That middle part is all up to you to go on there. As Aaron Young mentionedthe thing that you also want to keep in mind for success out there for everybody is this is not a difficult business as far as marketing. It’s very simple. You can pull list of asset managers and then email out to them. You can reach out to them on a regular basis. You got to know what to say and what not to say. You got to know when to sendYou’ve got to need to do it regularly. 

The number one thing that I see from our students that aren’t finding deals is that they’re not doing it. That’s the number one thing. They’re not reaching out to asset managers. That’s the most critical number one thing that they have to do monthly, sometimes weekly basis, depending on the time of year and what you have going onIf you’re not marketing out to asset managers, you’re not going to have the type of success that you want to have. You’re going to struggleIf you want to argue with that, that’s fine. That’s not saying you can’t pick up an asset or two here or there from some of the lower hanging fruit. It’s not saying you won’t get a lead from a Facebook group or a post on LinkedInWhat I’m trying to get out more than anything else is that’s the core business for everybody out there. The core business is reaching out to other banks. If you’re not doing that, you’re not in business. It’s like saying, I’ll be a downhill skier, but you’re not going to ever put on some skis and get on the slopes. 

The thing that you’ve got to realize is that you’re going to make mistakes along the way. You’re going to run into issues and you can’t avoid that. You can’t avoid that, you can but eventually what happens when you don’t have enough deals? You’re going to have some issues that go a little south, drag on longer. The best thing you can do is keep your head down and keep rocking. Go on buying deals, going out and finding more deals, going out and marketing more, increasing the assets. The beautiful thing that you have to realize out there everybody is nobody’s in your shoes. Nobody’s walking a mile in your shoes. 

Keep that rock and rolling. Keep plowing forward in what you’re doing. There’s still plenty of deals out there. If you look at where we’re at marketwise, we’ve had so many originations, refinances. There are so many deals and homes being built, homes are getting refinanced at higher numbers and we still have a low default rate of about 3%. It’s between 3% and 3.75%. I don’t remember the exact numbers are. If you’re still looking at the number of originations and stuff like that, we still have six million to seven million nonperforming notes out there and that is not including the owner finance stuff that goes in default. It’s not including the commercial stuff that’s in default. 

What you have to realize more than anything else out there is there still plenty of opportunities for you to be buying notes. There’s still plenty of opportunities for you to go out and make something happenThere are still plenty of opportunities for you to go out there and buy deals. We see that happen and we make it happen. Finding deals from banks that I’m not familiar with or sources that I’ve not dealt with. Somebody asked me about the fact it’s like, “Are people going to be stepping on each other for deals? The thing is, no, they’re notThere’s still plenty of opportunities out there when it comes to the number of deals you’re going to see, the number of lenders that have defaulted stuff. There’s a wealth of deals out there and honestly. It’s more than anybody else’s seeing out there. 

That’s what I was talking with the wholesaler like, “You’re wholesaling these deals to people out there. They could very easily be your funding partners. You could easily partner with them to deal with. I know you’re making a wholesale deal and there’s nothing wrong to make a quick buck, but you could still make that plus a lot more by taking the deal down yourself versus being an order filler.” Not quite a server or waiter or waitress, which a lot of times you’re trying to find someone to buy that or eat that off your plate. You’re always going to get more interest with something that you would take down. You always can get more interest when it’s a deal that you dove in and you’ve done the due diligence. You know what the rent rates are. You know what the values are. You’re going to know what the two or three major extra strategies are going to be. The more due diligence you can dive into it, the more successful you’re going to be because you’re going to know the deal. That’s an important thing. 

saw this mistake happen with somebody who talked about and they had deals and they just got up and they write off addresses. There was no talking about what the numbers were, what makes this deal. There was one guy that got up, I can pick up a ready to go rental for $9,000 right now in an area. It’s maybe in a rougher area, but it’s ready to roll. It’s clean. You’d be able to get that for $9,000. Even the guy that was running the club is like, I want to talk to you about that. The thing I want you to keep in mind is there’s still plenty of opportunities out there. There’s so much opportunity out there that you have to do the things that you need to be doing. It’s a simple business. Reach out to your asset manager. Reach out to hedge fundsThat’s going to be your most effective way to find the deals. Leveraging LinkedIn, jumping on LinkedIn and reaching out and connecting them. You can do something at night, reach out and connect with people. 

NCS 503 | Different Note Investors

Different Note Investors: Building something big and something that is going to help you in the long run is going to take time.

 

know that LinkedIn limits the number of connections you’re going to add if you’re brand new with a LinkedIn profile. That’s fine. Jump on the phoneUse the mobile app and often it’ll let you add more connections out there. Yes, that’s a hustle play. It’s the hustle play to doing it because it’s free. It’s a hustle play to get deals and portfolio sent to you that nobody else is going to see. Why? Because nobody’s doing the things that you’re doing and that’s okay because that’s what separates the 1%. That’s what separates the 1% of people that are going to find success in the long run. I wish we could say that there is 80% of people that come through our workshops have done an amazing job and gone out and closed. That’s not the case.  

It’s the most frustrating thing is I was talking to my peers as the people that are doing educating and things like that. We get excited when we see 10% of people find success. It does not mean that not everybody could find success. It’s that most people won’t do the things that they want to do. They’ll complain about what they’ve got to do to find success and that’s why they’re where they’re at now. That’s why they’re struggling nowYou have to do the things that you want that nobody else is doing. That’s how you step out from the crowd. That’s how you avoid being another cattle that are going tthe slaughter out there right now. That’s the thing I crack up because I’ve gone to so many networking meetings, investment clubs and things like that and I enjoy going to local Meetups and real estate clubs and talking with people there. Helping them and giving them counsel to find deals, counsel on marketing, counseling to help them find investors for them to be able to reach out to.  

It’s not advice. I don’t give them advice. I want to give my actual counsel. Here are the things that we’ve done. Here’s how you do that. That’s a valuable thingI’m glad to share that with people because I want to help people find things. Maybe it’s not in the note business, maybe it is on self-storage, maybe it’s small apartments or maybe it’s an Airbnb or short-term rentals or fix and flips. Maybe it’s wholesale. That’s fine. You’ve got to pick what you want to pick. That’s the most important thing you can doThe biggest thing you can also do is setting yourself up to realize it’s going to take some time. One of the things I talked about especially with wholesalers is, “You’re going to have to do what I’m telling you to do probably for six to eight weeks before you start seeing responses.” He’s like, “That’s fine, no problem. I can do that. He goes like, “Do you mean I’m not going to be able to find stuff immediately? I’m like, “You’re going to probably find a little bit, but stick with it. 

The biggest mistake we see investors make is they do one marketing piece. They’ll get a few leads and they stop marketingThey got to go back and re-dig that well, rebuild the wheel, get the momentum back up and rocking and rolling. That’s what they have to doThat’s not always the easiest thing to do, going back again and again. The thing I want you to realize out there is you can fall into one of those two categoriesYou could do that or you can fall somewhere in the middle. Hopefully, you’re doing the things you need to be doing. I’m not saying you’re not going to make mistakes along the way. You learn more from your mistakes you will ever learn from your successes. That’s a true thing. What I want you all to keep in mind is that if you’re hitting a rough patch, pick up the phone. Call somebody and talk to somebody. It’s not always what most people think it seems out there is the situation. There’s often a lot of things that you can do. 

Wayne Snell’s Story

There are a lot of people up there, your friends and colleagues, who aren’t going to understand what you’re doing on a deal. What do you mean you’re leaving the job to be a note investor? What do you mean you’re going to be a real estate investor? You’ll never do that. You don’t have that experience. You’re not going to be successful that way,” and that’s fine. Let them keep that mentalityThat’s the thing. I got a good story. Our buddy Wayne Snell, he’s closed on a couple a hundred deal and he’s one of our most successful students. Wayne was in the process of leaving his job and he wanted to hang around because he’s working at a place. He gets some stock in the company and part ownership and he couldn’t leave for an extended period of time. 

His boss knew that he’s getting ready to leave because he’d done a great job of building up deals and cashflow that had replaced a six-figure incomeThat’s not saying he didn’t have some deals that went south. It’s not saying he’s had some deals because I can remember one time him calling me on a particular deal that he was stressed out about. I was like, Wayne, it’s going to be okay. You got to keep doing more deals. This one deal that you’re doing or these two or three you’re doing, that you’re struggling with, how many more do you have? You’ve got a lot more that you’re working on. You’ve been in this business for a long time. You have been a real estate investor for quite a while. Keep rock and rolling. 

The biggest thing that I love about Wayne is earlier on he bought some deals that went south, like a lot of people did during the turnHe was able to stick with it and keep rock and rolling keep and plotting for it. He’s somewhere in New Hampshire with his family. He’s got enough cashflow coming up as deals. He’s enjoying it. He spent a month in Europe hiking the Alps. The thing is his team that he’s helped develop and build our time helped him be able to do thatAs I say to everybody out there, don’t sit around and complain. Don’t sit around and think that you know everythingThe biggest thing I can tell you is to stick in your lane, stick to what you’re doing. You’ll be a lot of happy there. Be focused on the deals you have to do, focusing on learning, taking knowledge from others that are willing to help you and those that are going to throw rocks or stones or make fun of you. That’s fine. Let them do that. Have a thick skin and keep rock and rolling because he or she who laughs last laughs best.  

As I often tell a lot of people that are coming through our workshop, “You’re going to be a real estate investor not for 30 days, not for a year, but you’re talking about for a lifetime. The beautiful thing is there are so many different phases to making money in real estate. As the market goes up, as the market goes down, there are multiple ways to do it. Keep doing what you’re doing. Keep knocking out, keep paying attention, keep leveraging your time with systems and marketing and do the things that other people aren’t going to do and you’ll be a lot happier. You’ll be a lot happier in the long run. Entrepreneurship is not a straight and narrow highway. It’s ups and downs and left turns and rights and lefts, a lot of good stuff along the way. 

To realize that we’ve all got goals and we’ve all got something that we’re driving for. Keep going out and rockingIf you ever need any help, as I will always take my note nation from my family across the country, pick up the phone. Give us a phone call, drop me a message or shoot me a text message. I’m always glad to visit with you. I’m always glad to talk with you and realize that you’re not going through anything by yourself and that somebody has not gone through beforeMost of the time there are people there to help you out with stuff. If I don’t know the answer, I’m glad to put you in touch with somebody who do that out there for you. 

One of the things that I want to touch base on is we go back to the two conversations I have. I believe both of those guys can be successful. I’m rooting for both of those guys to be successful, the wholesaler or the experienced guy. I’m rooting for both to be successfulThings sometimes take a little bit longer. Sometimes it takes us six months of hearing something two or three times. Somebody can do it right for the first time. I want everybody to be successful. There’s plenty of deals out there for everybody to do, especially in the note spaceWhat’s funny is people are talking about how it’s hard to find a good wholesale deal. It’s hard to find a fix and flip deal. It’s getting skinny. It’s getting hectic. What do you do when it gets hectic? You either got to tweak what you’re doing, adjust markets or increase your market 

Unfortunatelywhat happens most of the time is a lot of people decrease their marketing because they’re like, “This isn’t working. Rome wasn’t built overnight. It wasn’t built in a day. It took time to do it. If you want to build something big and something that is going to help you in the long run, realize it’s going to take time. You’re going to pinch your fingers or stub your toes or skin your knees to get along the way and keep rocking and rolling and keep plodding forward one day at a time. You’ll be happier in the long run and you look back in three months or six months or a year and realize that was a brief blip. You’re better man or a woman out there for keeping your head down and keep rocking and rolling along the wayAgain, I encourage you to go out there. Go take some action. Be coachableListen to people who have been where you want to be or are at where you want to be and not to those who have no clue what you’re doing and you’ll be a lot happier in the long runGo out and make something happen and we’ll see you all at the top.

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