EP NNA 96 – The 3 F’s Of Buying Notes: Find, Fund, And Flip

NNA 96 | Flip Bank Notes

 

What are the 3 F’s of buying notes? Find, fund, and flip banknotes. On this episode of Note Night in America, Scott Carson breaks down the 3 F’s of buying notes. He shares how to Find, Fund, and Flip notes and other features and items that he teaches during his quarterly Virtual Note Buying Workshop. If you want to learn how to find, fund, and flip banknotes, you wouldn’t want to miss this episode. Tune in!

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The 3 F’s Of Buying Notes: Find, Fund, And Flip

This is what we’ve all been waiting for, as I like to say. To you guys and gals out there all across the country, thank you so much for being here. We’ve got some great stuff for you and we’re going to rock and roll. I’m excited to be here with you. If it’s your first time here, you can catch all of our replays to past events. We’ve been doing these for many years. You can watch it on WeCloseNotes.tv. That’s our YouTube channel.

Always check out WeCloseNotes.com for more information out there. You’ve been registered once and attended all of them throughout the year by going to NoteNightInAmerica.com. If you’re registered for this and can’t make it, don’t worry about it. As long as you’ve registered for it once, you’ll get a replay the following day. You can go back and watch either live on YouTube or watch the replays the following day.

We do have something coming up. It’s our next and final Virtual Note Buying Workshop of 2021. It’s not the last workshop, but it’s the last three-day workshop that we’re doing in 2021. Friday, Saturday, Sunday, 9:00 to 5:00. It’s all three days. On Sunday, we’ll wrap up a little bit early. On Friday, we’ll spend on finding notes, Saturday on funding deals and Sunday on the different exit strategies and making money. You can register right now by going to NoteBuyingForDummies.com. If you can’t make it live, you’ll get the replays plus the manual and some other bonuses along the way.

I’m excited to be teaching. We’ve got a lot of great stuff to cover. We’ll tweak some new things for you to focus on, depending on what is going on in your market. I’m jacked up for this. Also, speaking of jacked up, I got back from spending a couple of days in Phoenix with amazing folks over at Titan Impact Group, Catherine, Steve and Laura. I had an amazing time there in the Valley of the Sun, spending time with them. These guys are some of my one-on-one coaching students. We spent a great couple of days focusing on their business.

We found opportunities in the market, some million-dollar homes and some owner-financed deals there for them to be able to put checks with commas in their pockets on a monthly basis, along with over 700 local IRA investors and other deals out there for them as well. It was a great weekend. I had a blast with them. I’m honored to spend quality time with some great people who are focused on being real estate investors and, as they like to say, leave every property borrower in the neighborhood in a better situation. It was fun to spend two days with them.

One of my favorite things is seeing the light and bringing the mojo back to people when it comes to real estate investing. Watch out for these folks. They’ve already bought some notes and got some good deals rolling. They’re a shooting star that’s going to turn into a sun. Stand back and watch them rock and roll. Let’s get to the content here, Find, Fund, Flip, the three Fs. We’re doing a little bit different take on this. Some of you guys see me speak at different REIA clubs across the country on this subject. We’ll talk broadly about some of the things involved with this. I wanted to share the little things that are different for you.

Every day, I talk with people who scheduled calls on my Calendly link or on my schedule about how they can’t find deals. They’re having a hard time raising capital. They don’t know how to structure or flip it. I probably had 6 or 7 conversations with investors on the funding part. Here’s the thing. This is not difficult. What happens most of the time when it comes to finding or funding deals is the first two specifically come down to a mind-block thing. More so than anything else, you have to take away any limiting beliefs that you have, “I’m scared to raise capital or talk about money.” You’re offering people opportunities out there.

Let’s go through some of that stuff a little bit here. Let’s start with the first F. First off, before we get to the first F, let’s talk about where the market is at now, though. Note investing in 2021 has been different in the last couple of years than it has been before. We all know there are millions of distressed notes and borrowers out there. The numbers don’t lie. Millions of borrowers are having a difficult time out there. Even to this day, there are millions of assets and opportunities out there, forbearance agreements or defaulted commercial properties.

As we start the fourth quarter, wrap up 2021 and move into the Q1 of 2022, there are many opportunities available if you start doing some things. “Scott, I’m scared to do anything because I didn’t get the money myself.” Screw that. There are millions of investors if you will invest a little bit of time in what you’re doing. If you will say, “I can’t find no deals.” What? The future is very promising now if you will look and do something. Many people say, “I don’t know. I don’t want to do it and I’m not going to do anything,” and then you would bitch and moan about not being able to find things.

If it was easy for everything, everyone would be doing it. You are deciding to do something a little bit different. Note investing is not the same thing as, “I’m a fix-and-flipper. I’m going to go buy a property and turn it into a rental.” It’s different and you have to evolve. 2021 has been a year of evolving to find different deals. I’m not talking about going and finding a wholesale REO. I’m talking about note investing. There are a few different shades of gray to note investing, whether you’re buying institutional debt, buying owner-financed debt, creating notes, buying notes or however you’re marketing for it.

There is so much opportunity out there. It’s not the same thing as, “I’m going to look at this. I’m going to try to buy a property with my own money and try to fix and flip it.” It’s different. This is easier for you if you know how to reach out and you will focus on it. If you will avoid the barking squirrels or the shiny object syndrome out there that many people have, “I got to do this and this.” You got to say no to other things to say yes to today.

Banks are letting go of investing debt now. You have to know how to talk to, find it and reach out to them. There’s not that big like, “Millions of assets are hitting the market right now.” I totally agree with you on it. There’s not a lot on the single-family side as compared to what we expected. There’s still more than we saw in 2020 and the year before. You got to know where to look. You’re not going to see pennies on the dollar bills like 2000.

What does the future hold? Are we going to see a big deduction? I think we are. Some markets are going to be hit heavier than others. Asset classes will be hit heavier, but the Fannie, Freddie and government-backed loans out there, that’s what’s not being let go. The banks are going to let that go at a discount. If there’s equity, they’re not letting it go at a discount.

It doesn’t matter what kind of software you buy if you don’t do anything with it. That’s the biggest thing I can tell you. There is no magic pill or magic software for you to do anything if you’re not going to take action. I’m not going to find a deal if I don’t take action on what I’m doing. You could have the best software, but if you don’t pick up the phone, send an email, jump on LinkedIn and reach out to it, it doesn’t matter what you pay for a software service if you don’t use it. Many people are buying shit, thinking it’s the magic pill and it’s not.

NNA 96 | Flip Bank Notes

Flip Bank Notes: If note investing were easy for everything, everyone would do it. You are deciding to do something a little bit different.

 

Find

Let’s talk about the first F and how to find. That’s what it all comes down to. I’m not going to tell you, “Go over to Paperstac and look at their crap. Go over to DebtX and spend the money there, trying a bigger portfolio.” Everybody who reads this, you’re a few simple free things away from finding deals. You have to realize that. If you will do the things that I teach and you talk and implement a bit of what I do, you don’t have to do it all. In a bit, you will find deals.

You can find residential and commercial notes. There are distressed ones out there that you can buy, either on a one-off basis or mini-bulk, or if you’re buying a commercial, you can buy a solo note. Those deals are out there now. How do I know? I see them every day. You have to look at what your total exit strategy is. You’ll go through your ROI as 1, 2 or 3 strategies. You also got to raise capital to make things happen, but there are deals out there. There are deals direct from banks and other note buyers or people who have bought notes.

I jumped online in one county and found 30 people that have bought notes in a few minutes that I know they have portfolios and reached out to this afternoon and people are responding, “I’ve got some notes for sale. Some are performing or nonperforming.” There are investment funds that have deals available if you know who to talk to and who to look at. It’s simple things like checking the county records. That’s free access to you.

Let’s throw a couple of them. Condor Capital out of California. If you go to them, they will have some stuff. Go to the major counties in Detroit, Michigan, Ohio, Illinois, South Carolina, North Carolina or Florida and start searching either for assignment on mortgages at the county records. You’ll find more than enough note buyers out there or two transactions where somebody sold or bought a note. That’s two potential note sellers or note buyers right there. It takes time for you to do it.

If you’re in a market that has a distressed seller at a price point, people are like, “Scott, there are record prices here in Austin. Things are flying off the table at $50,000 to $100,000. There are no distressed sellers.” Yes and no. When I spent some time on a couple of different markets, I was talking to realtors. There is a price point. It may not be the first-time homebuyer or that second-tier price point at $400,000 or $500,000, but there are price points across every MLS that are starting to slow down and you’re starting to see days on the market.

If you talk to local realtors, “What are you seeing as far as what type of price point is lagging?” I’ll give you a great example. We were in Phoenix and we saw assets that were over a year on the MLS. The owners were dropping the price down dramatically. Instead of trying to sell it conventionally and they weren’t getting any business there, they’re willing to offer owner financing or ruling creative terms to be able to come in and buy those assets.

That’s an opportunity for us as note investors to take down a property. A distressed seller doesn’t have to be somebody that’s six months behind on the note. You can take down a subject-to deal or some owner financing at great terms and then do a wraparound mortgage or owner-finance it back out to somebody else who doesn’t have the greatest credit but has a sizable down payment. Those are those types of opportunities that we have not seen in a decade for the most part.

You’ve always had subject-to deals here. You always do wraparound mortgage, but we are seeing a ton of stuff that’s not government-backed. Fannie or Freddie Mac out there for you that have the opportunity for you to be phenomenal deals if you open your eyes and start thinking a little bit like a bank out there. If you want to create your own notes, create your own notes. A lot of people have been doing that too, “I’ve got a rental property. I want to sell it.” Let’s make sure you structure that deal properly to get the biggest bang for your buck.

Also, let’s structure it properly, so you’re not having the government and IRS take a big juicy bite out of your ass. There are ways to structure things properly to ensure you pay the least amount of taxes and capitalize on the most amount of profit. Finding deals is the first thing. It doesn’t matter about funding. It all starts with a deal. You could go up there, “I’m not going to look and start talking to banks until I raised $1 million.”

You can shit in one hand and try to find $1 million in the other one. Before you have a deal, that one hand is full of shit because you need to go find deals. You don’t have to spend $1,000 a year. There are things that we teach on a regular basis for you to go out and capitalize on that first step. I’m fired up. That should be the fifth F.

Fund

The second one is funding. For somebody, this is the major block, “I don’t know. I’m scared. I have to prove concept. I only got $25 in my checking account.” I’ve been there. I understand that. You have to realize if you don’t have your own funds, you’re in a better position. “What does that mean, Scott? I don’t have $50,000 in my account and I’m in a better position versus somebody who has $50,000?” When it comes to notes and marketing for capital, yes, you are because you have no place to go but up.

I have always found that those that have a chunk of retirement or an IRA account are the worst ones when it comes to raising capital because they don’t mark it. They’re like, “I don’t want to do that. I don’t want to get outside of my comfort zone.” If you want to get anywhere or go from A to Z, you got to grow into this. You got to get outside of your comfort level. You got to find some faith inside of you to go out and realize, “I’m not begging for money. I’m offering them an opportunity to make a great return of investment and an above-average return.”

Their money is sitting in their bank account and making a zero or negative return. Who knows what’s going to happen with our government doing things? You got to get that money working for them. If your opportunity to buy or invest in an asset is at a well-below value where you can both create a win-win, why not? You got to have that belief that the deal makes sense. That’s why it all starts with a fine, but the funding, there are trillions of dollars out there if you’ll get off your ass and do it.

If you want to use your own funds, it’s great. If you’re a hobbyist and this is a little something you’re dabbling in, it’s totally fine. Use your own funds. If you want to do something big, you’re going to need to raise capital and use other people’s money to make things happen. It’s time to get out and start talking to people. If you’re scared to meet with people in person, do it via Zoom. Get on the phone and do a FaceTime with them. There are so many ways to connect or interact with people. You start going to your local REIA club or jump on a self-directed IRA. List in county records, whether it’s the county recorder or county assessor’s website.

NNA 96 | Flip Bank Notes

Flip Bank Notes: Structure your deal properly to get the biggest bang for your buck.

 

In Maricopa County, we found 703 IRA investors with their addresses and names. We had an idea of what they paid for the assets that they used with other retirement funds. That’s not all their funds. We all know that, on average, 67% of people that have an IRA have more than $150,000. You don’t need 1 million people. You need 3, 4, 5 or 6 people to invest with you for you to be able to raise $1 million to do amazing things.

There are also ways for you to put in lines of credit to make things happen. Hopefully, some of you guys went to the Get Fundable Refresher Bootcamp with Merrill Chandler. There are a lot of great ways for you to build lines of credit if you’ve been around for a little while. You could use collateral assignments to raise capital. If you’ve got a note or you want somebody to fund a deal for you, they can hold the actual loan documents as collateral for you to fund that deal.

Market your deals to raise capital. It all comes down to that. If you keep waiting for the perfect deal, you’re going to sit around, shrivel up and turn into a skull. Learn to market your own deals. Realize that people believe in those understatement deals. Break down the deals, work through them like you got it and make an offering. Work through the numbers, but don’t be afraid to share the numbers. Most of you aren’t marketing. Most of the people out there, I see less than 10% of people do something. That means out of the couple of hundred we had registered here for you, 30 people are doing something and marketing on deals.

It doesn’t matter if you’re like, “I’m scared at that. I’m from the old school, Scott.” Screw up. The old school is dead and gone. It’s time to get on the gravy train and realize you have to start marketing online. You can’t use some bullshit excuse like, “I’m old or that I’m not knowledgeable enough.” If you’ve got a smartphone, iPhone, Android or whatever, you hold the power of the world in your hand in sharing on LinkedIn, connecting with asset managers or reaching out to people online. You got to spend some time to go out and do it.

Too many of us are out there wasting a ton of time doing other shit that isn’t going to add to our bottom line and you are wondering why you’re not successful. It’s because you’re chasing too many rabbits. We all know the Russian proverb, “The man that chases two rabbits catches none.” Get rid of the distractions. Quit adding commas to the back of your name. You need commas on your checking account more than anything else. You have to add the bam to your marketing and adding the bam to your marketing is not difficult. Why? Most people aren’t doing anything.

You start doing something on a consistent basis of sharing articles and past deals. Start talking about the deals you’re looking at. That’s the bam that people are looking for. People want to work. They want to fund and give deals to people that are taking action, not somebody sitting on the sidelines, wishing or trying to prove a concept. You got to take action now. There are billions of dollars in and out there. You don’t need that. You need a few hundred grand, if not a little bit, to build confidence. If you never take action to reaching out to people, networking with people and marketing the deal that you have, you’re never going to find the type of success that you want.

Flip

Let’s talk about when you find something, you get the capital, “What am I going to do with this now, Scott? It’s great. I bought a deal. What do I do now?” It’s all about the flip. There are a variety of exit strategies. For some of you, you need to wholesale a few deals here and there. You got to put some quick capital in your pocket. That’s fine. That’s one great way to do it. If some of you are looking for performing notes, you need cashflow. “I’m a little bit older. I don’t want to work so hard. I want to start taking away what I need to pay every month and have it happen automatically.” Performing notes are a great way to do it. There are great ways to find the stuff.

Some of you need bigger checks. Maybe you’re looking at nonperforming stuff. I wouldn’t be going to look into stuff that you have to do heavy rehab, but there’s a lot of great nonperforming stuff that you can pick up at a decent discount that can still be a win-win for you and your investors. Nonperforming can turn into either a cashflow or big checks. It’s one of those two deals.

One of the things that we’re starting to see in other parts of the country and depending on where you’re at is short sales. Listed short sales are a great opportunity to reach out to those lenders, the banks on those short sales to see if they would sell that note or preferably if they have other nonperforming notes anywhere else in the country you can take a look at. That’s a great exit strategy to get in and out. Short-papering that deal is something that we did. We did a short little video on short-papering a transaction we did here in Austin, Texas. Check it out on our YouTube channel.

You can do that now. We approve short sales all the time on stuff. You’re starting to see that pop up in other parts of the country. Talk to your local realtor, “How many short sales are listed in our county or area?” You still see a record amount of people applying for loan modifications and loan forbearance agreements. The numbers are down or up. There are still a lot of people that should be doing something. It’s a great opportunity to step in.

People want to stay in their house. That’s a great opportunity to buy a nonperforming to turn it into a trial payment plan, loan forbearance or loan modification to make things happen, but you got to know what to do and who to help you out with it because you shouldn’t be doing it yourself. Foreclosures are going to happen. As we see the foreclosure moratorium ending in different parts of the country, some states have already started the foreclosure process. Others are ending now. Some won’t start until the first of the year.

Every property that has been on a foreclosure auction or been kicked down a month or extended a month, that’s an opportunity for you to pick up the notes. That’s an opportunity to use that deal as a warm lead into the bank from the asset managers to find other assets or notes they’re looking to sell on residential and commercial properties.

One of the great things, too, is if you’re getting performing in and you get to negotiate and reworking, you can turn around and sell that performing up and get some big cashflow and a big upgrade on stuff. There are a lot of people looking for performing notes. It’s not only on funds, banks and REITs, but local investors like you.

The idea of reaching out to IRA investors not only to fund your deal does double duty. Not only is it to help you find funders for your deals, but it’s also to find buyers for your performing notes, whether you’re looking at a portfolio and wholesaling to them or it’s a performing note that you’ve had for a while. You did the work on the front end, got it reperforming and sold the notes. I had two modifications get approved on my own portfolio from a little bit of work. I’m excited about that because we’ll be looking to sell those off here at a nice increased price of what we paid for the deal.

NNA 96 | Flip Bank Notes

Flip Bank Notes: If you never take the action of networking and marketing your deal, you’ll never find the type of success you want.

 

You also need to know that you are not alone. Your next F is your effing team. Your team of vendors is here to support you. The Dickie Baldwins, The Singer Law Group, Madison Management, the realtors out there, all the different servicing companies, other investors in the different parts of the country and people in our NoteNation Facebook Group. You have a team of people across the country to help you with this. You don’t have to be the lone wolf to go out, look at it, knock on it and see what’s going on. This is something that’s so valuable to you.

You don’t realize so many people are scared of, “I haven’t done any deals.” Who gives a shit if you haven’t done any deals? How many notes of your servicing company were serviced over the last ten years? Millions. How many foreclosures or loan modifications have your attorneys done? Hundreds of thousands. How many BPOs or CMAs have your realtors gone on and taken a look at? Thousands. You have a team.

The biggest excuse I see from people is, “I don’t have the experience.” You don’t need experience. You, as a note investor, if you bring on the right team and vendors, you have all the experience you need. Rely on your team. Share the power and experience of the teammates behind you. We don’t want you to go out, knock on the door, collect rent and mortgage payments, and modify the loan and foreclosure options. Screw that.

You need to be sitting at home and saying, “Listen, Mr. and Mrs. Investor. I’m not the guy going out and knocking. I have my expert attorney. I got my servicing company and realtor. I got all of these people here to make sure that they see CYA.” CYA stands for Cover Your Ass. CMA is Cover My Ass. That’s what you have to realize and most people are like, “I’m a lone wolf.” Screw the lone wolf concept. You have a wolf pack here ready to howl it up for higher returns. If it’s a vacant property, there are realtors and teams out there to help and go preserve the property.

As we start getting into the winter months, you don’t have to use your own eyes and ears. There are so many people out there that will be your eyes and ears. They know the market, deal and value. They’re there to help you out, but you have to realize it’s not all up to you. You have to put your team to work. You got to learn a little delegation. You got to know who and what to talk to and how to tell them to make things happen.

The beautiful thing about having a network and group of people is you’ve got a referral network for people, realtors, attorneys, servicing companies and property preservation, not just in one spot. We’ve got a great Facebook group and an amazing team of our own vendors that are glad to help you out as well. You are never alone as a note investor unless you choose to be.

If you ever run up against something, you’re banging your head, “What should I do?” The worst thing you can do is not to ask a question. The best thing you can do is to say, “Scott, I need help. I’m in trouble. I got a deal that I don’t know what’s going on.” That’s why you guys can always jump on the phone with me by going to TalkWithScottCarson.com and scheduling a quick phone call. I’ll be glad to spend 5, 10, 20 or 30 minutes to help you with your effing team.

The final F is FEAR, False Evidence Appearing Real. It’s so prevalent in what’s going on now. In the note business, you don’t have to be fearful. You have to realize you are part of a smaller but great niche with all the answers. It’s why the banks are the banks. That’s why they understand arbitrage, taking other people’s money, giving them a return on investment, but arbitrage in it to make a higher single-digit or double-digit, 25% or 30% return on their money.

You can be that bank. The power is in the bank. It’s up to you whether you want it or not. You got to take the time and learn how to find, fund and flip. You’ll learn how to market and talk. These are the things you have to realize that you are building a new craft. You are building your own superpower. You are your own Marvel superhero if you will mutate your mind to start listening and learning to do the right things. If you are scared of your own shadow, we got to knock that out. You need to go do something else or stick in that job or career that you hate.

If you love your job or career, kudos to you. I’m not talking to you, but if you hate what you’re doing or dislike where you’re at, the only person you have to blame for where you’re at is you. We are all where we are now because of the decisions and actions we take on a daily basis. It’s nobody else’s fault. If you want to blame somebody else, go blame that guy or gal in the mirror. It’s up to you. We are so blessed to still be in a country where you can take action to get over the hump and get you out of the situation you’re at to help you accomplish bigger and better things, not only for yourself but your family and your future.

People are like, “Scott, I got to know the forms.” The forms are not difficult. The contracts are easy to review. Landing agreements are not difficult. Borrower outreach is easy for the most part because you’re not the one doing it. Emails, “What do I say?” We teach that. We show you what to say to the banks. We show you what to say in the actual sample forms you’re going to be seeing from servicing companies. If you want the scripts to talk to borrowers, we’ll give you that. If you want the scripts to talk to the banks, we provide that for you out there.

I’m always amazed by the class that we teach. Our 200-plus page manual got all these marketing pieces and I go through marketing like crazy on Saturday and Sunday in my three-day workshop. A few people will look through the manual and they see, “There’s a word-for-word script. There are samples. There’s the exact of what I copied and pasted into LinkedIn to talk to asset managers. Here’s exactly a sample email of what an email template should look like.” It’s all there for you.

Here’s the thing. We don’t need another Scott Carson or other people. We need you. People invest with people. You all have a story out there and there are other people out there that will identify better with you than they would with me. I don’t take offense to that. We all attract different types of investors. People will invest with people that they like and trust. Don’t be afraid to share your story.

I don’t care how old you are or what type of country music song you’ve been through. Whether your dog got run over by a reindeer, you’re going through the Big D and don’t mean Dallas, or you’ve had legal issues or filed bankruptcy, don’t give a rat’s ass. That’s God preparing you to take bigger action and be on bigger and better things. You got to saddle up, put your big girl or big boy panties on, hunker down and get to work. That’s one of the things that I’m so excited about. I’m fired up for the class. In our three-day Virtual Note Buying Workshop, that’s what we cover, the find, fund and flip, for you to make things happen.

NNA 96 | Flip Bank Notes

Flip Bank Notes: We are where we are today because of the decisions and the actions we take daily.

 

It’s recorded. If you missed it, you could catch the replays. I’ll give you a bit of a breakdown of what we covered. We’ll talk about 12 or 13 different ways and define different note deals because we’re bringing back a couple of things we haven’t taught for the last couple of years because the market has changed. We’ll give you the scripts and emails. We’ll leave and share with you the different types of social media posts and things that you look at. You can go to my social media so you can see some of the stuff that we post on a regular basis.

We’ll talk about how to find direct note sellers and investors on LinkedIn? What to say and not to say to them? How often do you reach out to them? How can you start getting in their circle of influence so they start identifying with you and start seeing what you’re doing? It’s simple. We’ll walk out with over 2,000 banking contacts, mortgage bankers, banks and servicing companies for you to reach out to for notes with phone numbers and email addresses of those books. We’ll show you how to pull that information and start putting it into work. You got to put it to work. If you’re not good at something, hire somebody to do it for you.

We’ll talk about how to find deals where others aren’t looking forward. This is one of the biggest things that I’ve always loved about the note businesses is that we see deals 6 to 12 months, if not more, ahead of your traditional retail investor. Those looking for REOs are going to be sadly waiting around again in 2022 because note investors and note investing funds are going to gobble up all the deals. Some will hit the REO market, but it’s not going to be discounted.

We’ll talk about the different note-listing websites and portals you can take a look at if you need to wet your feet and hone your skills to practice and put those training wheels on your note business. You start looking at some stuff, making some offers and getting your feet wet without FEAR. Depending on where you’re at, we’ll show you how to leverage what’s going on in your market to find deals or opportunities for you guys to take advantage of to help you find deals that make sense for you. That’s all on Friday and there will be a lot more as well.

Saturday is all about the second F, Fund. We’ll talk about how to find 1,000-plus SDIRA investors in less than 30 minutes in several counties across the country. We’ll show you this. It’s very easy. You can download and start marketing too. We’ll even give you the letter that we use that you can go mail merge for your own list to send out and start talking to people.

We’ll talk about how to market your deals to investors to get them to say yes. We’ll give you the sample deals that you can insert in your letter to have them look at it like, “This looks interesting. I need to find out more information. I need to give this guy or gal a call.” We’ll talk about what to say and how to qualify your investors from those you want to say yes to those you want to say no to. Not everybody that responds is going to be an investor you want to work with.

We’ll talk about how to structure your deals so that you’re walking away happy, but it’s also a win-win for the investors, borrowers or banks on the asset. We’ll talk about how to use your past experience or lack of experience or leverage your vendor’s experience to help you raise capital and add value to your real estate investor network. We’ll talk about how to leverage your vendor network. This is a very important thing. Most people are not leveraging the vendor network nearly enough out there. We’ll talk about that and show you how to do that.

We’ll show you how to put together a 30-minute-a-day note business marketing plan for you that you don’t have to spend hours a day doing things. We’re talking 30 minutes a day or less. It’s not eight-minute ads. Maybe I should call it 30-minute notes. Who knows? If you do a little bit each day, it grows. At the end of 6 or 30 days, you look back and you’ve accomplished so much by putting that little bit extra.

Unfortunately, most people don’t do 10 or 30 minutes a day. It’s like working out. Go do something a little bit each day. It will add up. Rome was not built in a day. Notes are not a get-rich-quick scheme. They are something and it’s a solid business that you have to put a little bit of work into each day, especially when you get rocking and rolling. Get that momentum moving. That snowball is growing. You are rocking and rolling along the way.

The third day, Sunday, is one of the most important days. We bring it all together in the flip. We’re going to show you the ten different exit strategies and how to structure those deals to maximize your profits and how to make money. How to buy a deal and refinance out? If you’ve got expensive private money in there, how to refinance it with cheaper money and still make money and give a good return on investment, but still start making an infinite return on your money and put money in your pocket at the same time.

We’ll talk about how to put profits in your pocket when somebody else funds your deal. We’ll talk about how to identify what notes to pursue. You’re going to get tapes in like, “What should I focus on? What should I not do?” We’re breaking down some simple due diligence on your deals to help you identify the real deals and avoid the duds. I’m also talking about how to make your bid when you’re bidding the banks, other asset managers and note investors. The most attractive offering shows that you know what you’re doing and helps your bid stand above and beyond what everybody else is throwing against the wall.

Too many people are throwing spaghetti or shit against the wall, getting a stick and they’re not getting responses back. I’ll show you how is the best way to structure your deal and how to submit your offering so that people say yes and then get you off rocking and rolling. It still gives you plenty of time to do your due diligence. If you see something bad or something pops up as a red flag, you can still kill the deal without any type of derogatory or any bad actions happening to you. We’ll wrap up Sunday with the ten actions that you need to take immediately, the week after the class, to have the most amount of success in Q4 and Q1.

Friday, Saturday and Sunday are three days of double-barrel content coming at you. I’ll fire a hose of direct fun, but we’ll show you everything in your note business to find, fund and flip. That’s why it’s called the true nuts and bolts of the note business. Anybody who has done anything in the nonperforming notes space out there over the years is there because they’ve taken my Note Buying for Dummies Virtual Workshop.

We show you exactly how we do it. It’s not the same thing every month. We tweak and add as the market changes. You want to learn from somebody who has been around the block and been up and down a couple of times over the years to know exactly how to take advantage of what’s going on in the market. Make sure you don’t make the same mistakes that I’ve made along the way.

NNA 96 | Flip Bank Notes

Flip Bank Notes: Every month we tweak and add as the market changes.

 

I would love for you guys to get signed up for our Virtual Note Buying Workshop. It’s NoteBuyingForDummies.com. That’s the website and I have a very special offer. We’ve got two different promo offers for you. If you want to take the class, it’s usually $9.97, but you’re reading this. There’s a special offering if you go to NoteBuyingForDummies.com. It should take you to the checkout. If you use the special code MONDAY, it will knock it down to half price for you. It’s a 50% discount if you sign up. Take action now because you can start watching the replays of the last workshop we do. Instead of paying $997 is basically $498.50 if you want to do it that way.

If you would like to get a little bit cheaper, then spread that cost out over a year along with having access to some other things, you can do that. Sign up for our WCN Membership at NoteUmbrella.com. That’s $97 a month. That gives you access to our three-day virtual workshop and our one-day Note Weekend Training that we host on the third Saturday of every month. It gives you access to Note CAMP that we do mid-year and our Calling Banks Training replays. It also gives you access to our other special trainings like our 20×20 How to Find and Fund Training Program video series.

You also get access to other vendor discounts that we have and other trainings or special offers that I get along the way for you. You want to spread that cost off as, “$500 is still a little tight.” That’s fine. Sign up for NoteUmbrella.com and for $97 a month, you’ll get access to all our training, all year long for you. There’s the opportunity. If you’re serious about this, I want to make it much more affordable for you year-round. We’ve got our NoteUmbrella.com, which is our WCN Membership.

We have a question, “What’s the biggest F that you’re dealing with?” It’s funding. What else is out there? I talked to somebody and they said it was about finding, “I got the money, but I need to find the deals. I’ve got the funding out there.” “I need to flip. I got to put it all together. I’m taking all this training and I’m confused. I’ve got firsts. I’ve seconds in my mind. I don’t know exactly how to bring it all together.” That’s the flip for you. “I’m glad to buy, but what do I do with it? How do I make money with what I’m doing?” I want to encourage you all guys to take advantage of the WCN Membership at NoteUmbrella.com.

One of the great things that people don’t take near advantage of is their monthly call with me. In the monthly coaching call, we have 30 minutes to 1 hour to talk about, “What is going on in your business? What are you doing? How can I help you with that? What kind of focus are you doing? How do you find deals? I got a deal and a tape, but I’ve not flipped anything on here. Do you know anybody who looks to buy stuff?” I can put you in touch with a buyer.

Note Umbrella is the biggest bang for the buck in the note industry. Our three-day Virtual Note Buying Workshop is the best class. That’s not me saying it. It’s all of our students. We’re so proud of all of our students that have gone and closed deals. They’re educated. They know what to say. You’re not going to go through me for notes. Banks will sell you notes. Don’t listen to the bullshit that other people are saying, “You’re too small. Banks won’t sell you notes.” Yes, they will if you know what to say, what not to say and can act the part. With that, our Virtual Note Buying Workshop shares all that stuff with.

Go out and take some action. I’m here if you want to schedule a call with me and talk about it, TalkWithScottCarson.com. Get on my schedule. My schedule is filling up fast. If you’re watching the replay, do so now. Sign up for that NoteBuyingForDummies.com with the special code MONDAY or sign up at NoteUmbrella.com for only $97 a month for all you can eat note-learning buffet. Be safe and stay out of trouble. I love you, guys. We’ll see you at the top.

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