Note Mba

When we were at Note Expo, one of the things a ton of listeners we met mentioned they'd love of of on the podcast was interviews. It might seems like we took that too close to heart this week. Dave Van Horn was sat down to talk to us about the business, and his 30 year perspective of real estate. The chat was too good to keep to ourselves for too long, so you get back-to-back weeks of interviews. Dave has spent 30 years in the real estate business! Now before you get any ideas about him walking into a turnkey business, wait until you hear his story. He was raised by a single mom with six kids, and after school he got married and moved back in with his mother. At which point he couldn't get a job, and started doing construction work. He grew that into his own construction business. Dave goes into talking about how he originally bought his rental homes on credit cards. He'd use those credit cards to buy homes, then his construction and painting business to fix them up. Right around the time he amassed 40 doors,

We talked about a sit down with Eddie Speed leading up to Note Expo a few weeks back. On today's show we deliver on that promise. During the interview Eddie breaks down how he got into the business, where he's seen it, and where he thinks it might be headed. We also dive into a unique twist on how you might be leaving money on that table by not utilizing seller finance in your business. The guy behind note school owes his time in this business to selling a horse to his now wife's father. Going over the horse transaction in detail over ice-cream, led to an 8 hour discussion about real estate. Which then in turn led to a few year long apprenticeship for Eddie in the real estate business. He moved to the Lone Star state to work the local market of seller finance notes here. In the show he details why living in the market you invested in wasn't a luxury, it was a necessity. We go on to discuss direct marketing mailers, buying straight from FDIC, and the most recent reports about subprime making a comeback. About

We've officially made to the one year mark folks! Robby and Chase quipped early on about making it this far, but the day is finally here. Thank you so much for joining us along the way. Reviewing our business weekly has been one of the biggest benefits to doing a weekly podcast. Robby even talks about how strange it is to have a hobby so closely related to your business. Most people don't scrutinize their business often enough. Doing things like this show, partaking in masterminds, etc. has really helped this year. Prior to hitting record Chase asked Robby about spinning your wheels with potential JV investors. Instead of giving his opinion offline, they hit record and hit that topic from the start. For them it comes down to not chasing to aggressively. And working to make sure you aren't in a position where you only have one person to send your deals. It's been addressed on the show before, but servicers might just be doing the best the can. Or more specifically, it's sometimes helpful to put yourself in som

Happy Thanksgiving to all of our listeners, we hope everyone has a great holiday this week. We want to thank everyone for listening and giving us feedback every week. Chase starts us off with this week’s take on omnipresence and how it applied to a mastermind group of local real estate investors that have recently invited him into their inner circle. It seems the sun is shinning on Robby’s A$$ in Atlanta after having a conversation with the claims adjuster for the HOA’s insurance policy on his uninsured condo. We still don’t have a full understanding as the HOA board members continue their elusive and aloof management style. Heading west over to the small town of Marshall, TX, we have decided to outsource our research trip to our locksmith and to our realtor. Listen in as we get interrupted while recording the show. Then up north to Ohio we run over the numbers for a new REO, soon to be rental, and what we are setting up with the property management company. We extend this portion of the show to dive into top

On this week’s episode we a running through a variety of deals as we feel like we’ve been a bit light on deal talk. We’re going across the country from Illinois, to Ohio, to Florida, and some in between. Mr. Woods is slowly getting settled into his new place and the office is up and running even though nothing else is, so expect some more video content coming your way as he settles into the new place. Stay tuned if you’re at all interested in hearing about the deals we have running around the country, the topics we’re hitting on this week include: -Short sale negotiations -Refinance settlements -Countering offers from buyers -Short sale commission levels -What’s the offer price -What are you paying the 2nd position holder? -The ATL fire disaster -Another foreclosure in small town Illinois -Assignment of rents -Ohio re-performer that has yet to re-perform -Statutory interest on judgments in Ohio -Ohio homestead or lack thereof If any of that sounds interesting, this week’s show is for you. Let us know your fee

We open by giving a recap on our experience at Note Expo; if you weren’t able to make it this year, we’d suggest you pencil it in for 2016. The event gave some great high-level information on the real estate markets and on the note investing industry as a whole. We were quite thankful that the event was devoid of a bunch of “selling” as is common among many of these industry events. After reading through a variety of e-mails and being able to speak with some investors in person we have selected Joe Martin from San Antonio, TX as our investor that we will be helping to build up his note investing business. In expanding our listener reading list we are adding a book that we were just provided by our friend and peer Fuquan Bilal over at NNG, Turning Distress Into Success (This book is not yet available via Amazon.com, we’ll keep you posted on when it becomes available). We’ll be getting a good recap out after we have a chance to read it. In addition to Fuquan’s new book, I have tasked Chase with ordering us copi

We’ve got Robby back in the country from Costa Rica and a show full of tidbits from the last week to keep you all up to date on what’s going on in our world. We’re still on for heading out to Note Expo in Dallas this week; we’ve received a good number of e-mails and want to thank everyone for reaching out to us in regards to our coaching offer. Georgia is the word of the day, as we address a small delay and a fire. Robby was informed of a small fire that occurred in a rental unit he has in Atlanta, GA. He was not able to get any updates from the HOA management company or the VP of the HOA itself. Robby takes a sidetrack regarding a recent article by Jean Norton on her blog titled “Yes, I made $100,000 Profit on one deal…but…”. Listen in as he gives his perspective on being honest and upfront about the mistakes we make when investing in real estate. This latest incident with the fire in Georgia is a good addition to the list of small issues, that could have been much larger, but in the end they have helped to

As we work to keep note investing content at the forefront of our show Robby is in Costa Rica generating more material for our pivot.Though currently relaxing in an all-inclusive resort, he spent the past few days at a farm in the hills near Arenal Volcano in Costa Rica. While there Robby came across a land opportunity in the slowly developing town of El Castillo.We discuss some aspects of international investing along with the power of a tax write off made available from the IRS when our work covers such a diverse set of topics and geographical locations.   In the case of this investment opportunity in Costa Rica, it may be a somewhat vanity investment, but the returns and opportunity are very real.For this specific property Robby hits on a current TV show found on HGTV called Vacation House for Free. Getting into the note side of the show we discuss another recent issue regarding delays in your business and how they end up costing you over time, but you have to be the one that manages how the flow of issues

Today’s show is an introduction to our upcoming pivot. Its going to be a short show today because we want to introduce you to a deal that Robby is working on right now that we will be highlighting as we move the show forward. With an initial focus on mindset, we go into a quick discussion focused on how good deals find the money if you know who to get in contact with. Robby is working on a deal that is going to need $9 million in funding for acquisition and improvements over the investment period. Robby breaks down an analogy regarding restaurants and how you baby step yourself up in deal level. As with all good things it takes time, but if you focus on where you want to go you can get there. We then jump into some listener questions regarding the setup of an LLC, picking a servicer, and some of the other small tasks that need to be completed prior to getting your note business going. As it goes for the LLC, we both suggest going to Laughlin to take care of the entity setup and your corporate veil protection

The Man-iversary episode gets kicked off with some very high spirits and unfortunate signing by Robby, but Chase quickly leads us into a book review of “The 13 Mentally Strong People Don’t Do” by Amy Morin. We also hit on some of the top books that we feel listeners need to have read: Think and Grow Rich by Napoleon Hill Rich Dad Poor Dad by Robert Kiyosaki The Four Hour Work Week by Timothy Ferriss The Four Hour Chef by Timothy Ferriss Enders Game by Orson Scott Card We want to hear from you guys about a pivot of the show to cover broader topics within real estate investing to focus on rentals, retail sales, renovations, property management, speculative building, and multifamily/commercial properties. If you’re going to be out in Dallas for Note Expo, please let us know as we’d love to get together with our listeners. We also throw out a an offer for a listener that would like to get some free consulting from Chase and Robby over the next couple months. Note Expo is November 6th and 7th. Our motivation came

Chase is stepping up his fashion game and his outsourcing game by signing up for Five Four Club after Robby talked him into it. We get our week of content started off with a conversation about e-mail etiquette and how you should be corresponding within the business arena. Not that these aren’t things you already know, but its something that never hurts to have repeated to you every so often. Just be careful with what you put into writing; be respectful! We touch on managing your resources again, specifically your Attorneys for this weeks show. Following a bit of a ball drop by one of Robby’s attorneys up in Florida, we wanted to bring this up to your attention again to see if you systems are designed to make sure you can afford a similar type of issue. Use this as a reminder that when your professionals make errors, you shouldn’t hesitate to ask for a discount or a credit to your account for them making the error which could potentially have a large impact on your return from a deal. To help you develop an in

Robby picked up a new condo for himself down in Florida thanks to FNMA giving their REOs away, but since it wasn’t a note deal we go into why Robby likes HOAs even though they take a big chunk out of your monthly cash flow. Speaking of HOAs, Robby is off to the annual meeting of an HOA he owns a unit in to attempt to purchase other condos that the HOA has previously foreclosed on. Listen closely for how those deals work when an HOA has previously foreclosed on a borrower. The value of networking is still at work down in Miami as an offer came in on the Miami Condo Robby placed with a broker he met in Dallas at Five Star. We quickly hit on the numbers and how they have ticked up since the original acquisition due to changes in the market. Utilizing the resources we’ve put together 90% of this deal is being done with no extra work on our end. Our show intro this week hits on a Bait ‘n Switch that we see every so often in the marketplace and Robby really wanted to highlight how this can affect a new investor whe

We start out with a quick recap of Robby’s trip to Dallas for the Five Star Expo. The main takeaways lean toward networking and getting out into the industry to find out what others are doing. The value of being around the top executives of many of the players in the industry can’t really be calculated. Robby took advantage of a new relationship with a RE Broker in Miami to help with the property he was offering Cash 4 Keys for on the show last week. Chase hits on some articles that came out following Five Star in reference to servicing, which hits on a lunch Robby had with the CEO of his primary servicing company. The lunch conversation helped shine some light on the servicing side of business from the point of view of the servicer, not as the investor. Robby introduces us to a new company to help outsource exterior aspects of maintenance for your properties call Task Easy.  They’ve already completed a job for him up in Columbus and he just ordered another yard service on a lot in Orlando for lot he received

Robby is out in Dallas for The Five Star Conference this week, so if you’re out that way feel free to stop by and say, "Hi!" We get things started off with a quick update on Robby’s potential loan mod on an asset up in Ohio. The borrowers couldn’t come up with the full amount that was originally agreed upon to stop the foreclosure sale, so listen in on how the deal played out. Recessions End: Stimulus For the Rest of Us by Michael Everett is a book that Robby mentions was recently recommended to him.  The book hasn’t had wide distribution, but should be an interesting read. We answer some listener questions about working with your VA and about how to increase your yields.  Chase gives some good pointers on a VA as well as access to a whitepaper on hiring a VA. Robby runs through a variety of items that can and will affect your yield over time.  Robby hits on something he refers to as “Standing Expectations” with vendors that will really add value by saving time within your business processes. In regard to som

This week’s show is dedicated to our fellow note investor Rene Weaver. We’re all getting back at it after the Labor Day weekend and trying to clean off our desks while clearing out our inboxes. We are moving forward with bringing together some high level education regarding FDCPA and some great SDIRA strategies for our listeners. Chase points out that Robby has veered off his standard path of not talking to borrowers. He has been getting after it this past week in the communication with borrowers and tenants department. A semi-squatting tenant that hasn’t been paying market rent accepted a cash offer of $800 to move out of a condo we recently foreclosed on down in Miami. Listen to hear how Robby’s relationship with his attorney got the money portion of this transaction handled while he was on the road. We are working directly with a borrower in Columbus to help stop a foreclosure sale that is set for Friday morning. Down to the last wire, the borrower really wants to stay in the property. In fact, they've has

We open the show up with some listener questions ranging from how to set up your Joint Venture documents to how investors should wire their money over to you. We also go over banking for Joint Venture deals and how the Joint Ventures are structured. Another listener wrote in asking about reaching out to borrowers when your servicer seems to be falling short of holding up their end of the bargain. We think this a great way to help advance your business, but it also gives a bunch of potential for you to slip up and break some laws under FDCPA and CFPB. We toss the idea out of having a webinar to educate our listeners about FDCPA and how you can protect yourself while going after borrowers and making direct contact. Let us know what you think if this is something you would be interested in at ask@notemba.com Robby is working on a few different aspects of Cash for Keys regarding some assets he has in Chicago, Columbus, and Miami. Robby runs through some numbers and we speak about the psychological and financial a

We had some great listener feedback over the past week in regard to a question from Eric last week asking about the FCI Exchange. There are some great notes about the value found in the Exchange for a “new” note investor. Ed who wrote in about FCI gave some personal insight into how much money he used to start investing with via his Self Directed IRA and how he is planning on growing that amount. Ed also shared that he has purchased some 2nd position notes from Dave Van Horn at PPR. Robby hits on an article from an attorney up in New York that he found via a group on LinkedIn. Check out the article by Peter T. Roach called: Do we still need assignments of mortgage in New York? This also relates partially to a new foreclosure that Robby has started in TX on an asset that has an unrecorded assignment as of this recording. We end the show discussing some numbers on one of Robby’s deals up in Ohio and how to manage your expectations of a foreclosure timeline. We’d like to hear more from our listeners regarding ho

We had a fantastic week in Washington, DC. There was a great group of new and veteran investors we had the pleasure of talking, teaching, and interfacing with over the weekend. Not only that, but we drove some very promising default commercial assets. Once we get pricing, and a few other details, on these deals we'll be talking about them on the show. On today's show we address a listener question regarding servicing and borrower outreach. We have pretty strong feelings regarding the job servicing companies do for you, and when you should bring them onboard. We briefly touch base on the new fund we've been working on for the past few months. Then we dive into preferred investor returns. How you should have those conversations with your private money people. During conversations with these private money sources you need to be setting appropriate expectations. We’d like to hear more from our listeners regarding how they have educated themselves about note investing. Please take a minute and write us at ask@note

This week Chase and Robby get after a few listener questions and read some e-mails that came in over the past week. Topics Highlights include: -FCI’s Note Exchange -How much $$$ do I need to get started? -What if I haven’t done any deals? -Robby talks a bit about note wholesaling -A new FL Statute protecting tenants following a foreclosure So, let's get to a few questions we answer in today's show. Love the show!  Haven’t listened to all of the podcasts so if you have answered this before, I apologize.  What do you guys think about FCI Exchange for purchasing notes?  I’m new, have gone through Scott Carson’s Notes For Dummies class in Dallas, but haven’t pulled the trigger on a note yet. I keep running into investors that say “once you have a couple notes under your belt, give me a call.”  If I get a response at all.  It’s pretty frustrating but I’m not giving up. - Eric   I really enjoy the show. Thanks for taking the time to put it together and help everyone out. In my opinion there are not enough resour

Today we expound upon the old saying that it is not wise to judge a book by its cover.  This is something that hits home in the episode for a variety of reasons.  Chase discussed a few assets that he found in his “backyard” that looked great at first. However, once he did some in person due diligence he found out the deals didn't look so great.  Some of the issue he encountered included: Different property value than BPO stated Assets marked owner occupied, but looked vacant Condition of property different from online images Robby just returned from a long, two day trip to Chicago. While there he applied this principle to some move assets we're looking to buy in the area. He also judged a bit too quickly regarding  two Realtors we're hiring to move some REOs.   Robby talks about two surprises that came up as a result of his upfront “judging” of the agents. This also brings up a point about educating your resources. You want to educate them on what exactly you are looking for when you send them out to view p