EP NNA 47 – Four Ways To Connect With Special Asset Managers

Dominate your fourth quarter by closing more quality deals from your list. Today, Scott Carson teaches us how to efficiently connect to asset managers. Going out there, putting effort, and taking more action can surely give you a great wrap up for the year. Scott gives us the four key strategies, plus an extra one, in acquiring good list sources. Listen more from Scott as he teaches us how to make a good impression to these managers and so much more.

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Four Ways To Connect With Special Asset Managers

I hope everybody is doing well. I hope everybody is rock and rolling. It’s hard to believe that November is already here. Hopefully, you’ve done some work and got things rock and rolling for you and that you are rolling into the fourth quarter and wasn’t going, “What do I have to do now to get back on track? What do I have to do so that my 2020 is off to a better start than what I thought or where I want it to be?” Our topic is something that you will enjoy. I spent a chunk working on this and through paperwork and stuff like that. I was going through some of these things you will really enjoy. Some of it might be a little bit of a recap on some things, but I want you to pay close attention to what we go through here in the content for you because you are taking away some things. We’ve had some success on these on things I’m going to be sharing with you. Grab some notes. You’ll probably hear me repeat some things I’ve repeated in the past. That’s okay because when I repeat myself, I’m not just saying stuff to say it. I am literally sharing with you the things that work for us on a regular basis here, whether it’s us or other note students out there. There is some great stuff. I want you to succeed. I don’t care who you are, I want you to close deals.

That’s what we want more important than anything else. We’ve got a lot of stuff to cover. We’ll probably open up for a lot of questions, but I will probably be swapping back and forth from the PowerPoint slides into some websites. I want to walk you through some of these things so you’ll know what we’re talking about here. If you are joining us here for the first time at Note Night in America, I see some new faces, new names on the roster, which was great. I see some old faces too, which is great. Those people who have been around for a while. For 2019, we’ve done basically the first Monday of the month, starting year 2020, we’ll go back to doing them every Monday open to everybody on some things and we’ll do WCN coaching call a little bit different than we’ve done.

We’re going back to doing them almost on a regular basis every Monday night again starting first of the year. Those who are joining us here or people who are interested in notes and interested in real estate. We do record this. These calls are recorded. We do upload them to YouTube. I used to try to latch them to YouTube. You can always go to WeCloseNotes.tv and that will take you directly to our video channel so you can watch all the replays. While you’re at YouTube, make sure you subscribe because we do upload a lot of other things there besides these Note Night in America. If you miss it and you want to go back and catch it, you can download them as your favorite podcast because we do upload Note Night in America as its own podcast. Out of the three podcasts that we do, there are 15,000 downloads, which is not big, but I will take every bit that we can here. Our biggest flagship 50,000 mega blow torch is our main podcast, the Note Closers Show Podcast.

For those who are joining us for the first time, I highly encourage you to go over and take a look at that. We’ve got a lot of stuff. We have 530-plus episodes. I recorded 532 and over 500,000 downloads. I’m overjoyed with that. We’ve had over twelve million audiences on our AM/FM channels across the country and we exceeded that. We’ll pass the two million mark in the month of October. If we started doing this back in March, we’ve over twelve million AM/FM audiences across the country. We average about 75,000 downloads or listens an hour. Review and subscribe. We would love for you guys to read the blogs, subscribe because a review an iTunes or going over those recommendations on LinkedIn if you want to do that as well too.

There’s a lot of great content, interviews and guests. We’ve got some great rock stars and booked a couple of bigger guests. In December too, we’re pretty stoked by some cool things we’ve got going on for that. We also talk with a lot of our vendors, the people that we use on a regular basis. I encourage you to check that out and read. There are lots of great information, a lot of episodes and a lot of content goes into that. We’ve been doing that for a couple of years and we’re excited about that. Once again, thank you for those of you who read.

Our topic is about connecting with the special asset managers. I don’t know about you, but when you have Daylight Savings Time or gets a little darker earlier or gets lighter earlier in the morning, I start to tingle and that’s not because I’ve caught something from traveling or anything like that. I get excited because this is a busy time of the year for us. March is always our busiest time, from November to December of working on assets and working on deals and getting new stuff in. I don’t know about you, but so many people this year have been like, “I can’t find any deals or there’s nothing there. It’s all picked over. I’m tired of looking at contract for deeds or the old stuff. There are all educators out who overeducate.” You get all these newbies in the market and they don’t know what they’re doing and that’s fine.

It’s totally fine if they want to think that. That’s not the case of what it is. The thing is there are a lot of deals out there that are available for us if you know how to connect with the special asset managers. Default rates are down. We’re down to a low 3.2%, 3.1% default rate. When you have a record number of mortgages being originated, 3.1% so means there’s roughly still about six million loans or 600,000 loans defaulting on a regular basis and things like that depending on where you’re looking at your numbers at. That’s not considering private mortgages and commercial notes. There’s a whole lot of opportunities still available to everybody out there. This webinar, this coaching call is all about going through a couple of things in there.

Owning The Fourth Quarter

I don’t know about you, but it’s fourth-quarter time and if you don’t know this, if you’ve watched football, you probably wonder, “What does that mean?” Does it mean they raise your hand to realize it’s the fourth quarter? No, what it means more than anything else as an ex-college athlete, who played two years of college football, this is one of the biggest things that the coaches always pushed forward. This is what we’ve been pushing for all year long. Prepare January, December, start January, February, March, April, May, June, July, August, September and October. Prepare so that when you get to the fourth quarter, your business is rock and rolling. Some of you are doing this done on a hobby basis and that’s totally fine. I’m doing this as a part-time thing. It scratches my itch. You are wanting to do something big and some of you are doing big things like Laura Blunk and Paul Cooper. You’ve got people that are out there doing some amazing things like Desi Arnaz, Jeff Wolfe, to name a few. It’s having big goals too that you want to accomplish bigger things out there than what you’re doing right now and that’s fine.

I want you to help them, but it’s time to own the fourth quarter and you prepare. Do all this preparation for the next 60 days, the next 90 days. If you think about this, a football season is roughly four months. When you think about it, once people are going back to August, preparing for that to kick off the September, it’s blooding through this month but it all comes down to the end of the game. You prepare by working out, you prepare by doing the little things. When the fourth quarter comes around, when both teams are exhausted from banging heads against each other and trying to get things done. Those who are more prepared, more conditioned and more physical, more specific about what they do, the more likely they are to succeed in the fourth quarter. As our coach used to say, “We never lost. We ran out of time to come back from behind.” When you see this, that means that they’ve prepared, it’s time to kick in. Let’s focus mentally. Even though how tired you are, let’s focus to make some things happen.

Four Big Focuses

What we want to do is talk about the four big things you need to do. There are more than four things in here, but these are the four big focus of what we see working. We see this again and again and why this is big down in the corner here. Alabama, obviously the Crimson Tide has done well in the last decade. The four big codes are the keys there to success: discipline, commitment, toughness and effort. As an entrepreneur, I don’t care if it’s real estate or whatever it is, you’ve got to put effort out. You can be the most committed and tough guy but if you’re not going to put effort into what you’re doing, you’re wasting time. That’s why I want to share it out there. If you’re not going to do the things that you need to do and put effort forth, then do something else. You go watch the Cowboys or meet up with the Giants on Monday Night Football.

One: Email Your Asset Managers

Go do something else. Don’t waste your time and my time. The first thing you’ve got to be doing, and that’s the most important time. If you haven’t done this all year long, it’s okay but you’ve got to do it now. Email your asset managers list. You’re going to have a variety of different lists. I’ll give you an example. I pulled some different lists. Texas Savings and Mortgage Lending list, there are over 3,000 connections on there. That’s up from 2,300 at the beginning of the year. What does that tell you? It tells you that mortgage bankers are going into business doing loans in Texas, but they’re in other places besides the Lone Star State and that list is growing.

Special Asset Managers: Regardless of how tired you are when reaching the fourth quarter, always maintain your focus to make things happen.

When you add in what you can find at Lane Guide, DistressedPro.com and Scotsman Guide, which is free. There are more people getting into the place. I’m not even talking about LinkedIn on here yet, but Lane Guide is $165 a year. For DistressedPro, I don’t know what Brett charges for that but they’re all great tools. The tools are all going to be good if you put effort into them. The effort is to email your asset managers. By this the minimum, I would say monthly to do your emails I would bump it up, crank it up to a weekly email. You’ve got enough things to talk about. Closing on your yearend, you’ve got holidays coming, Thanksgiving, Christmas and New Year’s.

The last business day for most people is going to end up being the 27^th, which is the Friday of December, even though we’ve got the 30th and 31st. You’ve got Christmas, obviously the 25th lands on a Wednesday this year. It’s in the middle of the week. You have to think about the 20th. A big thing about this, if you’re going to send out a weekly email, send them out once to your database that you’ve hopefully uploaded, you’ve scrubbed or pulled. You send it unopened to people at least once, if not twice so that you squeeze everybody from the first part who has opened your email and you put them in a separate list.

Those that have opened the email, those who you want to follow back up. Those are your hotlist. Those that have opened the email and you’re only going to see probably around a 15% to 20% open rate out there for everybody. It’s probably all you’re going to see when it comes to what’s going on. If you get 5,000 contacts and you’ve got a 15% of people that have opened your email, what does it come down to? It’s 650 people. It’s more than enough for you to have. I remember thinking back over a decade ago, if I had 100 asset managers that I could get NDA’s signed within a year, it’d be great. I did that in the first 90 days. If you haven’t done this, I guarantee you could get 20, 30 contacts that can be on your list to get you to send it out by the end of the year. Maybe not through the rest of the year, but right now. Why do I say that? We see it done all the time.

That’s the first thing. Get in the habit. Get your emails and have a CRM tool. You are going through how to write up an email on MailChimp, Infusionsoft, Constant Contact or Blogger. You’ve got to prepare to send your email out weekly about something, “Help us clean up your books. Help us get rid of your ugly hair.” You’ve got anything with any hair on it, you’ve got anything you want to get off your books. You’ve got any Debbie borrowers you want to get rid of or something like that. The whole goal is you’re doing that to help us finish up strong so we build momentum finishing into December and then also into 2020.

Two: Engage With Multiple Touches

Number two is you want to engage these people with multiple touches. If you have any questions about what I mean by touches, I’m not reaching out hugging or pulling on somebody having that hug hanging around too long. Obviously, the big touch is when you’ve built your list, you’ve got your 15% of your contacts of your asset managers opened. Hopefully, you’ve collected the first name and last name. If you’ve pulled them off of LinkedIn or something like that, you know where they’re located or you know where their office is located. If it’s the Texas Savings and Mortgage Lending. Y, you know the city state. “Todd, I hope the weather is great in Southern California. Are you getting plenty of sun out there compared to the rest of the country?” Hopefully, you keep track of what’s going on and you personalize it, “I hope the weather is nice wherever you’re at.”

If you use a CRM tool and you have worn in a couple of 100 or a couple 1,000 contacts, you have to pay for it. You can use a great thing called Timewarp where you can set the emails to go out a lot of times wherein that people are in the best time, the optimal time that those asset managers will open their emails. Use it because it will help you. It will all go out where they all open at 9:00 Central time, but 9:00 AM, 10:00 AM across the different time zones is a good thing. That would be saying, “Hopefully, your business is doing well. Hopefully, you’re not being impacted too much by the fire or the power outages,” or things like that. Something that is different than your basic, “Send me your thing.”

Once you send an email, I would highly recommend you go over to LinkedIn and send a connection to them and a direct message. Seriously do this. This is something you all can do and this is a two-touch approach. Trust me, some of you guys have known me talking about this beforehand. The next aspect of this is in the multiple touch thing is if you’ve got their phone number, pick up the phone and give them a phone call. You can knock out 50 per day, Tuesday, Wednesday, Thursday at 10:00 AM to noon, 2:00 to 5:00. That’s 150 a week and if you can knock that out over 3, 4 weeks, that will get you to 600 people. It’s connections and following up with them, dialing dollar for dollars. You’re getting a habit of doing it. Set aside 2 or 3 hours to do this if you’ve got the time to do it.

Three: Find Assets

You can do a voice blast if you want to do that, “I want to touch base with you,” and see about going there. A voice blast is great. You could use Slybroadcast. If you dropped the phone numbers out, it probably won’t go out to a bunch of on the different lists because they’re probably office numbers. For some of them, it may be their cell phone numbers. Maybe you’ll get some of those. A text message might be another thing through like EZTexting.com. You can import a list, customize it and send a direct message out to them. It works really well. These are all little extra touches to set yourself apart from all the people that didn’t want email and give up. The people that don’t do the extra. It’s all about finishing strong and doing a little bit of more. A little more than everybody else doing 5% extra. These the last couple of things are a little bit extra that most people don’t want to do. Just follow up. As you’ve all known me say, it’s 80% of sales manager for the fifth contact. You send a couple of emails. You send a LinkedIn and a phone call or a text message or something people will respond to. That takes us to number three in the fourth quarter.

The third big thing you need to do and this is another way to find assets. I went through a little bit of this with one of our coaching calls on our WCN Crew. I also talked about this a little bit at our Note Mastermind. Checking the county clerk for assignments is such a critical thing to do and it results in such great momentum already because you’re talking to people in a different way. This is different than what you would probably know. I’m actually going through a little bit of this. Most people say, “Where do I begin? I buy it all of Ohio. Should I look at every county on there?” I’m like, “No.” Don’t do that. Pick the largest counties in your favorite states like what I did. Ohio is one of my favorite states. Columbus is one of the bigger markets there and also a popular thing there. I’m going to pick Columbus, which is Franklin County. I’m going to jump on Indianapolis because that’s Marion County.

I’m going to look at Wayne County for Detroit. I’m looking at Hillsborough County for Tampa. One of the things I did, I went to the county clerk and each state is a little different. I put it on NETR Online and I went to the county clerk or the county recording website. When I did a search for Franklin County, Columbus, Ohio, it pulled up 5,800 assignments that had been recorded this year to date. Indianapolis in Marion County would only show 100 that had been recorded in the last week of October, which is crazy but still on pace for about the same. Wayne County, it shows 4,600 assignments since June. Tampa Bay or Tampa, Hillsborough County has shown 1,493 in 2019.

With Florida, you can’t record it. You have to type in at least the three first letters of the assignments. I typed in, “BAN,” for Bank. I get excited about this. When I was talking to Steph, she was like, “You’re jacked up and getting excited about this.” I’m like, “Yeah.” It’s a great opportunity for people here. What do I mean by this? If you’ve got the Texas Savings and Mortgage Lending, it will take you there. Here’s NETR Online Hillsborough County public records. It takes you the data online. Here is Hillsborough County. I typed in party, both and ASG document type. When you’re looking at it first, it gives you the thing. ASG is assignment and I begin date from January 1st to November 4. I had to type in the three first letters, BAN. It gave me 1,493 searches and I went to number 50. You see BankUnited. If you look at the back over, Bank of America, Bank of the Ozarks and BankUnited. What the biggest thing is this cross-party name. This is the gold right here, Wilson Franklin, LLC, Rebuilding Together Tampa Bay, Mia Bella, Maciel Francisco, Pergola Investments and GMAC Mortgage. What do you do with these? You do a search like here’s the NexBank. You’re not going to waste your time with the federal FDIC lists.

Special Asset Managers: Send emails on the optimal time when asset managers most likely will open their emails.

You’re going to look at these smaller names that you don’t recognize. Bank of America Housing Services, I’m not worried. Towd Point Master Funding Trust, this is a Goldman Sachs if I remember correctly. Vance Venegas, MG3 Riverview, LLC and Pergola Investments, that’s the thing you want to look at on here and start reaching out to these institutions. I don’t know if you can but if you can’t, I’ll get you the document numbers so you can deal with more there. If you click one of these numbers, Security Pacific Housing Services, Bank of America Housing Services and FirstKey Mortgage. It’s an assignment but it gives you different people that have been along the way. Security Pacific Housing Services Inc. was that one.

That was 1,497 there and out of those and we probably found 5 or 10 names and we’d reach out to and start dialing for dollars off on the point there. That was Hillsborough County. Let’s click on Wayne County, which is the registered deeds for Detroit, Michigan. When I did my search, they didn’t require me to put three letters in, just the document type. I did a search and I pulled up 4,644 items found. Here are grantees and grantors. Grantee, US Trust will do. Wells Fargo will do. Nationstar Mortgage, okay. Wells Fargo, Lakeview Loan Servicing, Bank of New York Mellon, Corevest American Finance Depositor and Coverstar, it’s the same thing.

You’d be flipping through looking for names. A lot of these you probably won’t be buying from CF CoreVest Purchaser, CAF Term Borrower MS and PennyMac Loan Services. Start googling some of these things. I’ve got direct connection to PennyMac, Caliber and Asian Star and FirstKey Mortgage, LLC and Aspen Properties Group. We click on the assignment and take a look at it, US Mortgage Resolution and Aspen Property, Grantor/Grantee.

I’m looking on a mortgage. What I’m trying to get is you’ve got some names on here of people that you can reach out to. Franklin County, you can see 5,856 items for the beginning of the year. Page one of 391, this is for Columbus, Ohio, DLJ Mortgage, FirstKey Mortgage, US Bank. It all comes down to taking that biggie, the big effort and it didn’t cost anything for what I did. I pulled all four of these in less than ten minutes. Here’s the Marion County for Indianapolis. When you pull the list, it only will show you 100 at a time. If I click on any of these assignments, we’ll do the start date. Let’s say 1004-2019 to this date. In the document number, type in assignments and hit assignment transfer or you can do assignment lien contract or assignment. I would do assignment and then search.

We have a question, “You reach out to see if they are interested in selling their note, correct?” No, not this note but you know that they sell notes. If you don’t recognize it yet, there are two people on here. On this one up here, North Valley Bank, I would give them a phone call and Flory Real Estate. Flory Real Estate, if I remember correctly, is out of Florida and North Valley Bank. You’ve got a $1.1 million thing. You’re not buying this note, you’re calling to get on their list. If you think if they bought in Columbus, they’ll have other stuff in other parts of the state of Ohio or other parts of Florida or other things like that. You can do this in any state, any county that allows you to do a search for assignments, an assignment on mortgage or assignment on a contract for deed.

It’s sitting at your fingertips. It didn’t cost anything. On 10/30, 100 in the last seven days. In just over a week, here’s 100. You would have to search and go back one at a time or a week at a time to find as many, but these are all new assignments. You wouldn’t waste your time like the secondary housing or MERS, but you could get down and look at here. German American Capital Group and do a Google search. That might be a bit of a portfolio there. Type in LNS Ventures for 82 to LNS Venture, LLC. Let’s do that. Click in Indiana. I’ve got a phone number for Lisa Rae Stone from Oregon.

Are there questions? You’re like, “This is genius.” If you click on the link, Abdulahad says, “I can get data for people who are late, but the report gives the holder of the mortgage and origination. How can I find the current holder?” This is a grantor/grantee. It’s assignments that have been filed lately. It will tell you we got filed it too and maybe listen more than one person. You spend some time. You don’t care about the late party on this. I’m not calling about this one asset at 123 Main Street, Abdulahad. I’m calling because I know from looking at this list at such and such bank, assign it to such and such bank. The Regions Bank assigned this to US Bank, DLJ Mortgage assigned to Headlands Residential. That’s all we’re looking for and then I’m down. I’m not trying to get one note. I want to get in and get their entire list. That’s what I want to do. I know that FORUM Credit Union, I would check out FORUM Credit Union. They were obviously selling some loans there.

I have a lot, but maybe it’s one or Tucker Mortgage like your loan servicing. Laura says, “Have you figured out how to download this list as a spreadsheet? We can only download it as a PDF.” Let’s try something here. Here’s what you have to do. You’re probably going to laugh about this, Laura. I agree, each county is a little bit different. You’re going to have to get old school here. You copy that information. Let’s upload a spreadsheet. Let’s do it on here. You copy the data over. I’m going to paste and let’s see if it works. No, it did not work there. Let’s undo that. Let’s try pasting special and we always want to do Unicode text and see if that works. The thing is you can count this out there, 1, 2, 3, 4 and narrow it down to the bank’s name.

You may want to try to populate it into a notepad and then import it from text into that and set it up as the eliminators. I’m not going to go through that, but it doesn’t really matter because all you need is that basic PDF. I don’t need to put all those PDFs. You could scan it and convert it from PDF to Excel or PDF to Word doc or PDF to something from that point before. Don’t let that stop you from doing things because to download everything, it’s easier to scroll through it. I’ve got a name here, I must dial for dollars. The KISS Method, Keep It Simple Silly, is what I would do.

Let’s go back to a question. One county can only do 100 at a time, you’ve got to go as far back and have a little bit. All you need is a few sources. That’s what I’m trying to get at. You only need a few sources to find some stuff on a regular basis that people are going to send you stuff because we’re not even done yet. I’ve got more good stuff to share with you. There are plenty to do in ten minutes, export or copy and paste or Excel. Some states will let you copy. If you reach out to the county, hit hint, they may allow you to. If you reach out to ProTitleUSA and pick one county and reach out to a title company, they may have the ability to export that into a spreadsheet without you having to do with it, but you’ve probably got to pay for it. That’s the million-dollar answer to your question, Laura. You just need a title company to pull that information directly.

Most of these were free searches. I don’t know if you were able to sign in or do more of an advanced search if it would allow you to export it or download. I didn’t try that. I want to do this in five minutes and show that everybody can do this and make it very simple. If you google smaller-named companies, you’ll track people down and that kind of information and then dial for dollars. Pick up the phone. Trust me, if you could do that and knock out 10 to 15 phone calls doing that or tracking out numbers so that you’ve got a quick list that you can call. Do this at night. You can do this during your lunch break or doing it in the afternoon the next day. Make phone calls on Monday. Some of you might be doing after hours. You do a little bit extra, a little bit more. This has resulted in deals for me already. Doing that one thing has resulted in me getting some lists and then I’m cherry-picking myself right now.

Special Asset Managers: You only need a few sources to find some stuff on a regular basis.

Four: A List Of Bauer Financial Contacts

The things I’m telling you is not any rocket science. It results in stuff if you’d do it again and again. The county clerk stuff has resulted in stuff already faster than I expected, but it’s resulted in stuff. The fourth thing that you’d be doing is work the numbers. Many of you guys have heard me talk about BauerFinancial swinging it with their note kit commercial. You’ve got a list of BauerFinancial contacts. It is a ranking system that classifies banks on their strengths. It gives us a beautiful thing and ranking the banks by a variety of things. Let me start a bank of twenty plus branches. I like this one. Bauer bank lists, this is the one for the end of July. It’s for July 30th, July 31st or whatever it is, that is when the quarter ends. I have not downloaded the most recent ones.

I ranked my spreadsheet by the number of branches anywhere from 3,065 which is a US Bank. Wells Fargo has 5,000. It’s 57 Wells Fargo and all the way down. I’ve purchased my list for banks that have at least five branches or more. I’m probably not going to waste my time with these top baker’s dozen. It has Huntington National Bank, Citizens Bank, Fifth Third and KeyBank, SunTrust, TD, Regions branch, BB&T and PNC, US Bank, Bank of America, JPMorgan Chase and Wells Fargo. Citibank is top 14. I called a few of those, but I would start looking and going to those over the higher default rates because it tells you year to date income and their risk ratios. I want to look at their stuff as a non-accrual stuff. The past due in 90 days, $14 million and 30 to 90 days, $7.5 million. This is where the goal is at. As you get smaller branches and the numbers started going, you might want to rank this by loans going accrual.

The commercial industrial loans, they give you a whole thing on this stuff. Nonperforming, Family First Mortgage loans, non-performing, multifamily residential loans will be do. Everybody’s chasing their dog when it comes to that, but nonperforming assets that’s where I would look at it. Look at the numbers of branches and go from there. This list gives you everything except an email address. It gives you mailing address, phone number and the president, the head honcho in charge. Some of you may have seen an early phone call, a coaching call. You can use a service called LeadFuze if you’ve got the name of the institution and the name of the person. LeadFuze will go out to LinkedIn and find that person and try to connect you and maybe their email will pop up. It worked to a portion of that. With this, you might as well dial for dollars and say, “I’m trying to track down the person in charged with special assets. I’m trying to go in the presidency.”

You’re obviously going to get somebody there. You’ve got a direct phone number here. It’s probably the main switchboard but still, why not? Dial for dollars and making 50 phone calls because we narrowed the list. When I did this search and I narrowed it from branches, from twenty branches to greater, there are over 400 banks on this list of at least twenty branches and there’s plenty on that list to call. You could leverage Lane Guide to find the internal departments that maybe list them. Maybe you’re using Distressedpro to use that to track the numbers out there, but I would jump on there to track down their secondary marketing and their special assets department or their whole loan sales department.

I don’t know why I’ve never thought about that before but the whole loan sales department is where I would look as well to see if they’ve got some traders. They’ll have some bigger pools but there are also some smaller one-off stuff there for you. When I did a search on LinkedIn, they pulled up 32,000 or 39,000 people that had whole loan sales department in their title. You’ve got the mailing address of a BauerFinancial, you might as well drop a thank you card when you talked to somebody. You’ve got the corporate offices or the mailing address, drop a thank you card to the president. I’m thinking about doing that just to be goofy.

When the Loan Tales comes out, I will be dropping a book out to each one of those guys and gals out there. We’re in the final phases after losing two editors along the way. I’m still trying to get everybody to record the freaking chapter. The Loan Tales has been delayed a little bit, but that’s okay. We’re going to send a book out and it’s going to be very effective, especially they probably won’t go out by December, but the first year, why not make a good impression? Send a thank you card about your story and stuff like that. Why not do that effectively? That’s the fourth thing you should do. If you do these couple of things and you’re like, “This is gold, this is good stuff,” there’s one extra thing.

Sometimes when you’re working in the fourth quarter, you don’t quite wrap it up and you go to overtime a little bit. You want to win over time. Do yourself a favor, if you’re writing some of these emails, go ahead and pre-write them out. Pre-write your estimator emails for next year. Do it once a month up until October or November then you can get it in there, but do it monthly or segregate, separate your lists out. Those that have opened it in one email. One of them never opened your emails and the second email. Those emails that have bounced, pull those lists and that might be your hot list to call on and say, “I used to deal with John Smith at Zion Bank, but I see his emails starting to bounce back. Who’s replaced John Smith that I need to talk to?” That becomes an effective a warm or cold introduction.

Extra: Call Email Servicing Companies’ Business Development Departments

That’s the whole goal is building those lists. I know it’s not sexy. I know it’s not the best thing that you want to do, but you can do all this in your underwear or in your pajamas if you wanted to. You aren’t even getting out of bed. You can sit there with a laptop and your phone and be dialing for dollars and doing the things here without having to do the stuff that all the normal stuff everybody else is doing. This is the extra stuff that does help you win in the fourth quarter. Another thing you can do and we talked about this before is call an email servicing company’s business development department.

This alone has led to four deals coming in the last four hours alone. Two deals in San Antonio on two nice commercial properties that are default along with a couple of other things. What am I going to talk about doing with that? If you jump on the Texas Savings and Mortgage Lending list, it will pull up about 300 servicing companies that are doing business with Texas. Obviously, they’d do business everywhere else. I sent an email out to all 300 of them, twenty-some of them bounced which means I’ve made none of those, which means I’m going to make a phone call to the phone number listed on the Texas Savings and Mortgage Lending to get the new person.

Some of those are probably no longer in business and I have a few of those. I didn’t filter that by the way. I just pulled the whole servicing thing. I’m going to reach out to the other 273 of them and connect with the rest on LinkedIn. I had two people that responded back, “We don’t do that.” What am I asking? I reached out and said, “I’m trying to track all of your business development side. I know maybe the servicers that we work with, they have clients that are selling their assets off or selling a portfolio off at the end of the year. We would love that introduction and would love for you to retain the servicing on any assets so that you don’t lose business and it’s a win-win across the board.” It’s four individual assets in just doing that one thing.

I know I went through these 5 or 6 things. You don’t have to pick Franklin County. If you live in Illinois and you want to go after a county besides Crook County, do that. Maybe Lake County or Page County or you like Texas. Do a search in Texas. That’s going to be harder to play but you’re going to find a lender. Do you want to do in Orange County in Orlando which has somewhere around 9,000 to 14,000 assignments filed every year? That’s something to look at. There’s no right or wrong to which county you pick just as long as you pick a county and then pull out the big E for effort.

I picked up the phone and called BauerFinancial and said, “I want your list of banks that have more than five branches.” That’s it. I got on the phone with them. It was like $360, $400 maybe I don’t remember, but well worth it. We have a question, “Do we got up to now 400 million podcasts?” No. You missed that part. We’ve got 530 episodes. I would love it if you leave a review on iTunes. Thank you so much for being here and hanging around from the start to finish. I appreciate that. Maybe we’ll put a lot couple of content for these things and we’ll pick these back up. I’m doing these on a weekly basis starting the first year and doing some other cool stuff for our WCN Crew. Probably maybe a little bit of an hour segment afterward and then, go from there. Go out and take some action. Put some effort. Make the fourth quarter yours. The fourth quarter is here. The fourth quarter is my time to dominate. When you see that over the football games or the ball games, hopefully you’ve done the same thing to know that you’ve put the effort to make December and the New Year yours.

Who wouldn’t want to start off with five new asset managers that nobody else is getting or maybe rarity? Let’s face it, the low-hanging fruit of asset managers out there, everybody falls in love and that was the granite’s and the direct source. There is nothing wrong with buying assets from those, but when you’ve crowded the stuff, you’ve got to find new deals and this is the way to do it. There are hundreds and hundreds of sources out there for you. You’ve got to do some simple, easy things like I showed you and pick up the phone and call and go from there. I wish you all the best of luck. Thanks. Take care.

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