Mostly all of us currently are – or have been – in the note space through our debts and loans, so it only makes sense that we’d have an interest in learning about a way in which a third party would help us pay them back.
People who work in closing distressed mortgages and note closings try to help those who are behind on their payments by purchasing their debt from the bank and modify the loan to fit each individual’s paying abilities better.
Today, I am especially happy to present Scott Carson, president, and CEO of We Close Notes. His business focus is on residential and commercial notes, which is based on buying unpaid mortgages from the bank to try to help people who are behind on payments stay in their house. Scott is also a successful podcast host as well as someone who helps entrepreneurs and real estate investors through his teachings, strategies, and insights.
Scott is a featured speaker and educator at dozens of investment clubs and real estate workshops across the country, which focus on how to find, fund, and flip on nonperforming notes directly from banks. He also yearly hosts the online summit and conference, Note Camp, which has proved to be an excellent starting point for new note investors to start learning their way around the business.
Listen to Episode 53 of Rejuvenaging, to find out about the ins and outs of this industry and, if you’re a borrower that has financial issues, to learn how you can still keep your beloved home and pay your debt in a smoother manner.
Some questions I ask:
- Why don’t banks do what you do? (07:24)
- What happens at the end of the mortgage period? Whose house is it? (12:01)
- What are the risks involved? (14:20)
- What do you need to get started in this business? (18:05)
- Is this a young person’s game? Or is it something that might encourage people who are close to retirement to look into? (31:12)
In this episode, you will learn:
- What distressed mortgages and note closings mean (05:00)
- How does Scott make money in his business (12:17)
- Why a real estate license isn’t necessary to buy notes (18:18)
- How to figure out if this industry is for you. (22:38)
- Scott’s journey starting on the business (23:52)
- How COVID has impacted Scott’s business, with so many people that are currently unable to pay their loans. (28:27)
Connect with Scott:
- Podcast: The Note Closers Show
- Podcast: Note Night in America
- Podcast: Note Camp
- Saturday live-stream training
Here is the link to the interview: https://shows.acast.com/rejuvenaging-with-dr-ron-kaiser/episodes/how-to-get-on-the-right-side-of-the-payment-stream