Finding the right note deals can be hard especially when choices are complex. How can you ensure that deals you are eyeing are working or not? Scott Carson spends time on this episode of Note Night in America sharing what’s working and what’s not working in 2020 to find note deals. He discusses LinkedIn, email campaigns, Octopus CRM, note conventions, servicing conferences, and old-fashioned phone calls. He also shares some new training events available to everyone for the 2020 schedule and the upcoming Note Weekend trainings.
Listen to the podcast here:
Finding Note Deals – What’s Working In 2020
I’m excited to have you here. We’re going to dive straight into the content. We’re all here about finding deals. My phone has been ringing off the hook with people like, “How do I find deals? I’m having a hard time finding things from the old places that I used to find deals at. Can you help me, Scott? Can you help me find where to look for this stuff?” It is no wonder that we had a huge RSVP list. I’m sure we’ll have a big replay, but we’ve got a lot of stuff to cover. We do these Note Night in America regularly on Monday nights at 7:00 Central Time. You can catch them on the Note Night in America show and also on YouTube on our WeCloseNotes.tv channel. We’d love for you to go there and subscribe and help us exceed the 3,000 subscribers. We are excited about that. We want you to ask questions and make sure that you are paying attention to everything.
Let’s dive into the information. If you’re new to the Note Night in America, we are honored to have you. We always have a variety of real estate investors, note investors and people looking to invest in one form or fashion. People that heard me speak across the country, we welcome you here as well too. For the readers of the Note Closers Show, thank you as well as the Note Nation. Finding deals, take a piece of paper and a pen out or pull out your smartphone and start taking some notes on this stuff. It’s important what we’re going to cover here because it might sound like a rehash of things we’ve talked about on a regular basis, but that’s not the case. With the new year, a new decade and where the market is, you’ve got to change some things. From conversations with many people out there, our vendors, our investors, I know that a lot of people are hurting. It’s tight for a lot of people and they are struggling. I’m not talking about note investors, I’m talking about fix and flippers.
Traditional entrepreneurs are struggling and there are some things that I want to focus on that are the biggest big bang for your buck versus other things that people are doing and continuing to do that are a big waste of time and money. I value your time. I’m honored you’re spending an hour with me here. I want to make sure to deliver as much content as I can for you going forward as always. A new year equals a new focus. We’ve talked about looking for deals from mortgage bankers, servicing company, secondary marketing department, special asset managers, a whole loan sales department, loan sale platforms, note conferences and private sellers like you and me. Unfortunately, most people are doing it wrong and some of these things don’t work anymore to find new deals. It might work once in a blue moon, but we all want more than one note every blue moon. I think we can all agree to that. Let’s talk about how the best ways to approach these and some of the things that you should be doing and you shouldn’t be doing.
What’s Not Working
Let’s talk about what’s not working. This is a broken machine and I’ve seen a lot of investors that keep replicating what they did years ago and they are expecting it to work now. That’s not the case. With the market being where it’s at, with numbers going up like this, yes, we’ve tightened numbers when it comes to note investing. They’re not laying around like pennies on the ground or laying down for you to buy. You have to work this like another business. It’s not as extreme as the fix and flips or the wholesale market where you’ve got to drop thousands of postcards, bandit signs, yellow letters or door knocking where you can get a shot at. You don’t want that. I’ve had that happen a couple of times. What’s not working?
My biggest thing is that I’m a big believer that note conferences aren’t working. They’re getting smaller and smaller. People don’t want to fly out to see the same lineup. That’s the thing with the small industry. We’ve seen conferences and we’ve looked at this too as well with Note CAMP. We have to change things up. We have to get creative to get the numbers. We have to provide value. Listening to the same person speak over and over again is not valuable. I don’t want to fly across the country to hear such and such speak when I’ve heard them all the time. I also saw conferences that are directed towards the person putting the conference on. That’s the wrong thing.
If you’re putting a conference on, you shouldn’t be a money grab for vendors and tickets. You should provide something valuable to the people that are taking time out of their weekend, paying money and can fly out there. Honestly, the numbers are down across the country. I have turned down five conference speaking events when it comes to the note real estate game. People ask, “Why did you turn it down, Scott?” I was like, “There’s nothing new.” When you look at the lineup, I’m like, “It’s the same little lineup that was speaking at the other event. It is the same lineup that was speaking previously at the same event.” I was like, “What is going on?” I’ve had several conversations like, “Scott, we like to have you come and help our event.” I was like, “I’m not going to pimp out my database so you can sell a few more seats to your crappy event.” Their numbers are down across the country, across all seminars out there. Maybe you need to stop going to those things and spend money. As I say, it’s the same speakers. I don’t need to hear the same person speak over twice.
With the loan sale platforms, what’s not working? Don’t get me wrong. Loan sale platforms are a great place for you to sell if you’ve got some because there are many going to them, but they’re picked over assets. It is overpriced and picked over. We had the guys on Paperstac and I think they’ve got a great platform. It’s a great way to sell an asset. I don’t think it’s a great place to buy. I looked at their portal and they got 123 notes on their firsts and seconds, no CFDs. Some of the things I see on there are great, but it’s overpriced. It’s decent for selling, but not for buying. This goes the same thing across the board. If I hear somebody else tell me that FCI Exchange was good, I’m going to sit there and strangle them. You’re like, “FCI Exchange is great.” I’m like, “You bought how many notes over the years?” “I’ve bought four for over five years.” I’m like, “That’s not a good platform.” I’m getting fired up thinking about it. Loan sale platforms, no offense, are going to be the most overpriced assets unless it’s exclusive. The closer you can get, the better. It’s great for selling because you’ve got all of these suckers out there that want to come there and buy a note. They will overpay for a note and that’s not the right thing. I’ve had to talk to three people out buying notes because they were overpaying. Don’t do it.
We used to talk a lot about reaching out and connecting with the mortgage bankers because they’re going to have some stuff that they would take back. That’s the case. Usually, they have something, but with the way the market is and origination is these days, it’s been booming like crazy. I talked to a guy, head loan officer at Bank of America. He told me what they were doing as far as providing the Fannie Mae down payment and $7,500 towards closing costs. I’m like, “That’s ridiculous.” Any stuff they get, they can cycle that off to anybody else. That’s the thing you’ve got to keep in mind. Mortgage bankers on the origination side are probably not the best thing to be doing these days. We’ve talked about how it’s been a good thing in the past, but these days, with it being like it is up to that crest, it’s going to turn and you’ve got to be prepared for that but it’s not worth wasting time. They’re literally dumping and moving on and people are buying their stuff because they want to get on the origination side. It reminds me of over a decade ago, the run-up to 2006, 2007 and 2008. We’re in the midst of it now.
If you have questions, feel free to ask questions. We’re going through this, I’ll try to jump in there and answer as best as I can as we are rock and rolling through this thing. “What is working in 2020?” What is working in 2020 are these things and this is a different aspect of things. I’ve seen some people commenting online, “This is awesome.” “I shared that with you before.” Thank you for coming to the 21st century. Let’s start doing something. People ask, “Can you wholesale one out?” Yes, but it makes sense, what’s the price? What are you expecting for commission? As things get pricier, you have to expect to reduce your commission to leave most of the meat on the bone for the end buyer. That’s what you have to expect. Otherwise, you can’t expect, “I’m going to get 20%.” That’s not the case. You may get a finder’s fee for the most part, but it’s going to vary a little bit for you as a wholesaler. It all depends on how valuable that note is and the true deal. You’ve got to work some numbers and know exactly what the heck you’re trying to wholesale.
Using LinkedIn And Email Blasting For More Connections
Here is the thing that is still working to this day and it’s working more and more. This is using LinkedIn to make connections and contact special asset managers and secondary marketing. I’ve talked about this before, but this is working. LinkedIn is becoming much more visible and more used. I see connections up the wazoo, especially in reaching out to the whole loan sales desk and whole loan traders. We’ve had some great stuff here. We had a great coaching student. Bob did an amazing job. He started to set up some things with his email blast. He also reached out on LinkedIn and he immediately had phone calls. He immediately has people responding to him doing some great stuff. I teach people how to buy notes and make money on it but using LinkedIn contacts. I’m also a big believer that email blast to asset managers work. Email blast on a regular basis, not once a month. We all know that 80% of sales are made after the fifth contact. If you’re looking to buy notes and you want to reach out to asset managers, you’ve got to hit them up again. If you wait once a month to do this, it’s going to take time for the majority of people will do anything.
You need to bump it up for a couple of reasons. You need to do it more than once a month. I also think the biggest magic, here’s the money are those that open your emails is to call them or follow up with a personal email to those people. Have you sent an email out to the asset manager list? I’ve shown in the past how to do that. Taking that list, upload it to your CRM and send out a professional email. You’re going to get somewhere between a 12% to 20% open rate. What I’m talking about is taking and going back and looking at your email between 12% to 20%, then pulling that list off and following up with those people. Another thing that’s working, we see quite a bit tracking assignment chains. Who bought, who sold the who, who bought from whom? We talked about this if you go to a previous episode on Note Night in America, Ten Ways to Find Deals in the New Year, we discussed that in heavy.
We all have a network, whether it’s Facebook groups or LinkedIn to connect to investors. Share with your group your database of what you’re looking for. “Anybody got some notes in North Carolina? That’s my home state.” “Anybody got notes in Florida? That’s my home state.” “Anybody got any notes outside of Crook County in Illinois?” Share what you’re looking for and be more specific about it. I think you need that. That’s one of the great things about networking and is sharing what you have and what you are truly looking for, not being a catch-all be-all. “You got a note? Send it to me.” That’s not what I do. Educate your network to make things happen. One of the most important things that a lot of people get bogged down is being broad. You need to be more specific. I also believe that if you’re in a couple of different asset classes, you’re going to have to wait a while before those asset classes come back. Primarily, second lien and junior lien investors. Most of the junior lien investors I know are coming to the first lien side or going into the traditional real estate. By traditional real state, I mean the fix and flip, the rental side, the short-term rentals, that kind of stuff because they’re not finding anything that makes sense for them or they’re coming over to the first lien side.
If you’re sitting there and like, “Scott, this sounded great, but where do I focus first? What are the steps that I should be doing? I only have so many hours a week. I can’t pick up the phone and dial for dollars and call 50 to 100 people that I’m going to be scared to death of and I might end up screwing up on and messing up on the call.” Where do I focus first if I were all of you is LinkedIn. LinkedIn is free. You don’t need an expensive version of LinkedIn. Some things about LinkedIn, you all can make roughly about 100 new connections per day. If you’ve got a brand new LinkedIn, it’s not going to allow you to do that many. What I see is when we’re reaching out and connecting, it’s about 100 new connections before it won’t let me add any more. I’ve got 18,000 to 19,000 connections. I am a huge fan of Octopus CRM. This can automate the connection and message. If you are working, if you have a full-time job, this will work for you.
You’ll be like, “Hundred connections, I can’t copy-paste that much.” You can if you set it up of what you’re going to say and copy-paste it. All you’ve got to do is change the Hello John, Hello Mary, Hello Jeff, Hello Monica or whatever it might be. You always want to do customization, copy-paste. See who the asset manager’s name is when you’re reaching out and send a direct message to new connections. Send a new message to special asset managers, secondary marketing. Octopus CRM can automate the connection and message easily. This is one thing that I absolutely love. It’s a game-changer for everything in our business and I’m loving what’s going on with it. Octopus CRM is a great thing out there. It is connecting with special asset managers for me automatically. I did a search and it allows you to do a search like you would. I type in special asset managers, secondary connections and it allows for me to pull a thousand names over from the search into Octopus CRM. I’ve got 1,000 people here. I have 682 still left to connect with. I’m connected with 315 people.
I’ve done more of this before. I’ve got whole loan sales. I use this for whole loan sales, third-degree podcast votes. Podcasts in real estate, special asset managers and virtual workshop context. I do this for a variety of lists that I pull over. I’d go in here and I customize it. “Hello, first name. I wanted to check to see if you might have any NPNs on your books that you’re looking to move this quarter. I’ve been buying NPNs from the portfolio since 2008. I love to see what you have that might have some hair on it.” It’s done 315 and it’s taken me less than five minutes to set this up. It did 100 from 5:00 to 6:00. I did go back in and start this up and say, “Let’s add another 50 people at launch.” It’s going on here and add those 50 people. The beautiful thing is it is going to change up and connects with them at different times. Sometimes, 2 seconds, sometimes 20 seconds, sometimes 30 seconds then switch it up. When you hit that 100, they will say, “You have too many invites for the day. You’ve got to wait for a couple of hours.” Most of the time, I’m getting through about 180 to 190 in one day. Most of you can go to your office. If you’ve got access to LinkedIn, you can pull CRM up or even your office. You can do it before you leave the house in the morning. It will automatically get done. Then, you log into LinkedIn and see people who’ve left messages to you.
The great thing is that with Octopus, they accept. We send a follow-up message through LinkedIn, “Thanks for connecting. I’d love to visit with you.” That’s 186 connections sent. That’s how many I was able to get done. Out of 186, I’ve got one list of performing notes and one list of nonperforming notes. That’s not the biggest list. It is about twenty nonperforming, which I’m looking at. We’re going back and forth on the pricing model and then I’ve gotten several one-off commercial notes from the 186 connections, which is a win. That comes on an automation basic and all those three things came from first thing through Octopus CRM. You can use it for a variety of reasons. I use it not just for the note business. You could use it to find real estate investors. You could use it to find note investors. You can type in, “Note investor in Alabama,” and post that in there. If they’ve got note investors in their profile name and they are from Alabama, it will help you customize that. “Hopefully, you’re seeing these things. I’m looking for deals in Alabama. If you’ve got anything available, I’d love to talk with you.” “I’m looking for deals in Florida. I see you’re in Florida. If you got anything, I’d love to talk with you.”
This is a great way to talk with 100 to 200 people in a day. It is an easy way to do it and Octopus is inexpensive. It’s cheaper than hiring a VA. You can still go on and add copy-paste, add things to your phone if you want to be cheap, but let’s get smart about it and be effective with our time and those that connect on it. You’ll see, they popped up. They looked at your profile. They connect and accept your connection. Those we follow up with, “Thanks for accepting my connection. I just wanted to follow back up. I’d love to schedule a time to talk.” Where would I focus second? I would jump on email. It’s all about the numbers. Whatever best you can do numbers-wise to the masses here and speed it up or replicate this, it will be more effective for you. Email blast, everybody in here, if you have less than 25,000 connections, you should have a Mailchimp account. It is easy to do. You can do some amazing things with it. If you’re going to be sending out to asset managers, if you send it the first week of the month, I would bump that up. Instead of monthly, I would bump it up to bimonthly. What you want to do is increase your marketing, as the market gets tighter. If you’re having a hard time finding deals, the only thing you need to do is not quit marketing. You need to double down.
You need to start doing more to find more. Send an email blast if you send it out to 1,000 asset managers. You pull the list either from the Texas Mortgage Savings department. You’ve jumped on LinkedIn and harvest yourself or you’ve got lists from other things. Follow up with those that opened the email. If you send an email blast out to 2,000 asset managers and 10% opened them, that means you have 100 people that opened the email. MailChimp will tell you who opened it once, who opened it twice, who opened it 3 and 4 times. Re-rank their list of opens to see who opened it more than once. Those are the first people you should reach out to with a separate email, “I wanted to touch base.” “I saw that you opened my email and I want to follow up, do you have anything? Can we get on a phone to talk? I’d love to share.” If the emails bounce, that’s an opportunity as well for you. Why is that? You can still call the company and say, “I sent an email to John Smith over here at ABC Funding, but the email bounced back. Who is in charge of special assets?” John is the one you talked who left. That’s a warm name drop even though you never have talked to John. I’m amazed that probably 80% of you haven’t sent an email out to your database or your list of contacts for the last months. Why? That’s human nature.
Attending Large Mortgage Banking Events
Most of you aren’t going to do anything at all. It is what it is. Finally, after sending emails, I would dial for dollars. Pick up the phone and call the people. If they emailed you, if they connected with you on LinkedIn or they opened your email and you track their phone number down either on their LinkedIn profile, a lot of them will have their cell phone because they’ve moved or jump in on LaneGuide.com and look for the corporate office and name-dropping, “I am looking for John Smith in secondary marketing.” Now that you have an email address, you can already talk to somebody. Those are the biggest things that I would look at doing. I would be going to large mortgage banking events statewide. In Texas, we have the Texas Mortgage Bankers Association. They meet once a year. I would go to that in Texas. It may be in Dallas or Houston. Go to one area of your state. They have regional ones, like the Western Secondary Market Conference. This happened in San Francisco in 2019. I happened to be there in the last couple of years. It’s a great event to go to. You’ll have 400 to 500 people. The Texas Mortgage Bankers Association and the Western Secondary Market Conference, you probably have 300 to 500 people. That is a great way to meet some people.
The national convention that was held here in Austin for the National MBA, I was out of town for this with some other things, but I spoke with Cody Cox. He works for the state of Oregon for their Veterans Affairs, but also a note investor. He went and talked with people. He pressed the flesh and found two note sources. You have to realize these are the decision-makers. These are the people up a step from your regular, “Let’s go to the Distressed Mortgage Expo. I don’t want to talk to the same 50 people that’s been showing up or hear the same four speakers that have spoken for several years straight.” Servicing conferences, we often have them as well. That might be a state Texas servicing convention or Florida servicing convention. I wouldn’t go to the IMN convention. Somebody asked me, “Should I go to IMN?” I was like, “Why pay for an overpriced ticket to something that’s going to be panels all day? I don’t think it’s worth going to. You’d better go in directly to the events that fewer people are going to.” The thing is about these things, whether it’s Texas Mortgage Bankers Association, Western Secondary Market Conference or the National MBA, it’s going to be more of an expensive ticket than $75 a free ticket to DME or INS or NoteWorthy or NoteExpo.
It would be more expensive, but more quality. Maybe if you can’t afford a ticket, but you have a backyard, dress the part. Go on a suit. Going on a sports coat, dress like you belong, dress the part. Hang out and network. Oftentimes, you’ll get a flyer there. You can walk up and grab a flyer. It will give you a vendor. Sometimes, they’ll tell you who’s there. Connect with the vendors. If it’s in a hallway, get to talk in the hallway. Maybe a lot of times you can walk through without having to pay on the second day. You’re walking in for free. Connect with the vendors. The vendors are one of the most valuable aspects because they can direct you to what you’re looking for, “I’m looking for this. I’m looking for this. I’m looking for a product here.” Vendors at these events often know more people there than you will. Hopefully, they should but that’s an opportunity for you. All this is great, but you’ve got to pass the smell test. You’ve got to have a 100% complete LinkedIn profile. If it’s still prompting you to fill in your photo or to fill in your education, you have totally failed.
Using A CRM Tool
You need a CRM tool that you use on a regular basis. Spend some time on your email templates. Make sure it looks good. Make sure you’ve got your logo and your company looks good. Make sure you’ve got a good photo of yourself. Don’t throw your social media profiles up at the top. Leave them at the bottom or leave them off, except to your LinkedIn for the most part or your website. Keep it simple. We had somebody on, who’s talking about how they sent email after email to asset managers and they never got anybody to call back. When they sent me their template, they have their logo, all their social media, and you see no content whatsoever. Make sure that your logo is a thinner horizontal logo, not one that’s freaking huge. You want to make it look good as a banner ad. In nowadays world, you’ve got to have a website that’s complete and doing some good things out there. It is what it is. You can have a Wix website. At least have something on there. Do you know what to do on your website? Put about you, who you are. Put your face. I see websites and I get emails, “Who is this? Who are these people?” Put about you. Talk a little about you and dress the part. If you’re wearing a dirty T-shirt in your profile photo, it’s a fail.
If you’re looking disheveled, get rid of the junior high hoodie. Look decent. Act the part. Business cards, go to the FedEx office, Vistaprint in order to use some business cards with a decent-looking logo and your photo. People aren’t going to remember you from Adam. If it’s a cheap, crappy-looking business card, they’re going to think you’re a cheap, crappy business person. Have decent business cards. If you remember the thing from the American cycle like, “This is great.” You want to have something that impresses. It’s still a handshake business a lot of times at these relationships and that’s why if you’re talking to somebody, “Let me get your card.” If you run out of cards, take a picture of a card and text it to them. It is easy to do. Spend time on LinkedIn and forget Fakebook. I come home and they say, “Did you see all this stuff that happened on Facebook?” I’m like, “No,” because that’s not where the asset managers are spending their time at.” Asset managers are spending their time on LinkedIn. A lot of companies are banning Facebook because it’s an activity suck but they are approving LinkedIn for business purposes.
Forget Facebook, spend more time on LinkedIn, upload articles, share some stuff there. Be posting and marketing on a regular basis. I’m talking about twenty times a day. At least once a day, but if you get in that habit and what I have found since we’ve posted on a regular basis, asset managers will go and like stuff. They’ll look at your profile and the more that you have on there about something to do with real estate or marketing or whatever your focus is, it leads to easier and more connections taking place. There are basically three things you’re going to be doing easily on LinkedIn. You could get an inbox. You could go to DS News, HousingWire, like something on their copy the link and share it on over, “I found this article interesting. If you need to, start doing some short ten-minute videos on there.” “I’m working on a deal. I saw this article on HousingWire. Here’s what it means to me.” We’re not talking long, but LinkedIn has a valuable video aspect to it and now accepts ten-minute videos or less. Start using that. Upload ten minutes at a time, “Here’s the deal I’m working on.” Here’s another deal I’m looking like, “Florida investors, if you’ve got any notes in Florida, I’d love to talk with you.”
Here’s the thing that a lot of people like, “Are you sure the banks are going to talk to me when I haven’t pulled the trigger on a bunch of deals?” The answer is yes. If you look the part, you’ve got the website, you’ve got a full LinkedIn profile, that’s great. I don’t have a lot of deals, that’s okay. You don’t have a lot of deals to talk about, let’s rely on your team, lean on your team of vendors and your past experience. Talk about your servicer and have their link website up on your website. Put your attorneys’ logo and link to their website as well. Do a short ten-minute interview with them, your vendors and tools. You can go to an event and do the ten-minute video with each vendor and that would be something you could post, “Here’s a little bit about my vendor, Sean. Here’s my servicer, Shante Duffy at Madison Management and why she’s awesome.” If there’s a website or a tool that you use, like BatchGeo or a Rentometer, you could do a link to those, “Here are a couple of things that we like for the due diligence aspect of things.” Your insurance team, “Here’s a link to Ross Diversified Insurance Services, Ed Babtkis and his brothers are going to do a great job and take good care of you.”
Talk about your assistant. Talk about your VA if you don’t have an assistant. Talk about your team so it looks bigger than you think about this. Henry Ford was not the guy putting the wheels on the vehicles. He was a guy up in charge and if somebody needed to come to his office and he didn’t know the answer, he said, “Hang on, I’ll get somebody here to answer that.” That’s what you have to start thinking of, “Let me call my service or let me call my attorneys. Let me call my realtor.” That was who I was missing off of this. Share your past real estate deals. I don’t care if people wholesale at a property years ago, talk about that deal. I don’t care if you had a rental. I don’t care if you bought your first piece of property and the place you lived in. Talk about it. Share a picture of your first deal ever. You don’t have to give them the numbers on it. Share your past real estate experience, the very least and post that to LinkedIn. The more experience that you share on there, the greater your confidence level not only in your businesses but the greater the confidence level the asset managers are going to have with you.
They’re going to have great confidence with you because they start seeing, “This guy looks lit. They’re passing the smell test. Based on what they’re sharing on the line, they pass the eye test.” You have to get beyond what’s all about you and what you can do. You can use these tools. You can use these things. If all you did was reach out on LinkedIn and emails, you would find deals as long as you do it on a regular basis. What is sad is most people aren’t doing that. I’m scared to run a poll to see who’s on here and who’s done it because I know most of you haven’t done it and that’s fine. I’m sitting here talking out to the interwebs up there. If you do this, great. Comment and let me know. I’d love to hear from you. That’s what I have for you all. Any questions about those things? How we dive into it?
Let’s take a look and see how far Octopus has gotten from me. There are too many requests. I’m up to 348. That’s not too shabby. All without me having to do much of anything else. I’ve had a few people like, “I don’t know what you’re talking about. I do this.” For some reason, whole loan sales are their thing. That’s okay. That’s quite all right. If all I get is one contact for every 100 I did, it’s worth it because that one contact has a list and a deal. That’s the way I look at it. If I do 100 of these and I get one contact who gives me a referral, a list and a deal, that’s one person I didn’t know that had deals. That’s one person who goes to my Rolodex to reach out. It goes into my database and my hot list to reach out to. That’s an important value. “What does it cost and do they have good support and live support?” They’ve got great support. It’s cheap. I pay $14.99 a month. That’s $15. It is less than $0.50 a day to do this. If you’re not going to do it, if you haven’t done this, then spend some time setting some context first because I see many people that, “I got contacts and all that.” I’m not getting paid by anything. I know how awesome this tool is and that’s why I’m sharing it with you. That’s why I’m talking about it because it totally works.
People have been asking me, “When is our next event? When are our next workshops? What are you guys working on? When’s our next coaching?” For those that miss the later part of the year, we’ve changed how we do our coaching a little bit. Instead of doing on the weekends as a group, we’re letting you come in and pick two days during the week, Monday through Saturday. We’re no longer working on Sunday anymore. Two days to come in and spend two days, one-on-one with me. I guarantee you, I’ll kick your ass in a good way. I’ll put your business way into gear in two days. I would prefer it be not Monday, but Tuesday and Wednesday, Wednesday and Thursday, Thursday and Friday, Friday and Saturday. Pick two days and spend two days with me. It’s $10,000. You can get less. You get some great stuff for $10,000. It’s well worth it because of the database and the fact that we give you an example here. The student that was in here, he’s got fifteen notes that he is working on. That’s fifteen performing notes, but he looks like he’s going to pick up at around $0.60 of UPB and there’s some value above those. That’s 22% yield on those pretty beast of stuff.
The last guy has closed on his fifth note in his first five weeks. We’re excited about that. Robert and Raphael said, “It’s well worth it.” Both of them will say it. All our previous coaching series will tell you that as well too because we stand by it, we kick your butt, we find deals and we focus more intently on what you need to accomplish and what you need to focus on and what your schedule is. Not everybody has 48 hours to put in the note business. We love to talk with you if you’re interested. Drop me an email at Scott@WeCloseNotes.com. We’ll talk about it and see if it’s a fit for you. Some people are not fit, some people need to get more nuts and bolts. Our upcoming event calendar is as follows here for the year so far. I don’t have a date down for the Note CAMP. We’re still figuring and finalizing that, but we do have the three dates for our Virtual Note Buying Workshop. This is our nuts and bolts training live. It’s live streamed online. Go to We Close Notes home site and click on there. It’s $699. It includes you plus a spouse or a business partner.
We’ve got only three dates on the books. On May 1st, it will be the first one, then July 31st through August 2nd, the second one is on November 20th through the 22nd. That’s the third one. We’re probably going to be doing three probably this year. The reason we’re only doing three is that we’re doing something new. After looking at the market and seeing where people are at and realizing, “I need to get a little more information. I’m going back to what I used to do a couple of years ago when I go out and speak at an REIA club on Tuesday, Wednesday or Thursday night. We’d often sometimes have a Saturday workshop.” That’s what we’re doing, eight times in 2020.
We set aside one weekend and do a Note Weekend with you. It’s a Saturday with a replay and a Saturday session on Sunday. One day Saturday event on the note basics. I call them mini-workshops. I’m excited about these because I think it’s going to be a big bang for a lot of people. I hope a lot of people get a little bit more information absorbed. It’s also a price point as desirable to help people be like, “This is where I want to go.” I will be live streaming the event on Saturdays. I’m streaming them on Sundays. In case you can’t make it on Saturday, you can watch it on Sunday. It’s $99. That includes the replays that will run from 9:00 AM to 5:00 PM. Basically, it’s an eight-hour day with about a half-hour lunch, brown bag lunch in the middle, 3.5 hours, a half-hour break, 3.5 hours. It’s roughly about six sessions each covering quite a bit of stuff there.
You can go to NoteWeekend.com and get signed up for that. Here are the dates that were covered. The February 29th, the end of this month on Saturday. March 28th would be the next one. May 30th and then we’re taking June and July off. On July, we’ll have a workshop, but August 29th, September 26th and October 31st are what we have on the schedule. Seven of these dates are available. If you miss one, you can jump on the next one. The WCN Crew member is included as an added benefit and bonus for you guys being in a monthly WCN membership. For those that aren’t, it’s $99 for the day. We’ll cover the note basics, how to find deals, how to make money and wholesale in these deals. How to do some quick due diligence on them. We’ll have a couple of collateral files that you can take a look at and dive in and break down and we’ll be emailing up a manual for it as well so you can go through and work through it with me.
We will be helping you identify numbers and talking about marketing. Some basic things you can do marketing-wise, step-by-step to really help you take your business to the next level. Another thing we’re doing too is come through one of our Note Weekends and sit through Saturday. That $99 can be applied to either the Virtual Note Buying Workshop or also applied to our Note Buying Blueprint, which includes our online home study course and a ticket to the Virtual. I’ve been thinking about a way for us to connect with more people and make it a little bit easier for those that are out there that can’t jump on a plane and maybe a little bit tight budget-wise in to do anything. We can find something in the middle aspect of things. It is a great way to start. I’m pretty stoked about that. This is not a pitch fest. We might have 1 or 2 guests total on one of those. It will be mostly me, at least 75% of the time, unless we focus on one little speck of something out there for you.
Once again, thank you for tuning in. In our next episode, you’re going to like it. We’re going to have some cool stuff. We’ve got 2 or 3 people that we’re going to have as guests on. One of them is trying to finalize the time for you. If you’re interested in the Note Weekend, go and sign up for NoteWeekend.com. It will take you straight to the checkout. It’s $99 and get your ticket. We’ll get the manual out to you in the next day or so. We’ll see you all at the top.
- Ten Ways to Find Deals in the New Year – previous episode
- Octopus CRM
- Texas Mortgage Bankers Association
- Western Secondary Market Conference
- Virtual Note Buying Workshop
- The WCN Crew – Facebook group
- Note Buying Blueprint
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