Note Mba

We’re back this week with some valuable tracking of information from the fine county of Franklin. Franklin Ohio’s Clerk of Court provides a new level of information through its website for civil court records. Robby discovered that you can sign up on each case docket to follow any updates within the foreclosures that he’s tracking in the county. Hopefully this is something that will be adopted in more counties around the country. Robby shares an interesting story in reference to a new YouTube video and LinkedIn article he recently wrote. Listen in to find out about what happened and how he is going to adjust some protocols for when properties are being renovated. We touch briefly on UBIT in reference to the self directed IRA show we had with Tyler Carter last week. It is a high level topic we will be diving into on another show down the road. Our second technology topic, and also a due diligence topic, regards using Pacer.gov online to search for bankruptcy filings all across the country. Spend the money for

This week we are bringing you an interview with Tyler Carter from, NuView IRA. NuView IRA is an administrator for self directed IRA plans. These plans allow investors to direct their retirement investments into alternative asset classes beyond the standard stocks, bonds, and mutual funds commonly associated with retirement planning. Tyler tosses out an early statistic that was quite a shock to the Note MBA guys that only 2% of the population is aware that their retirement account can invest in asset classes outside of the stock market. Most of this statistic can be attribute to the failure of our society to financially educate the population at large, but honestly is more a direct correlation to your social status and personal network. A great point that Tyler makes is that when your funds are trapped inside your employer’s 401(k) plan you have to order off of that employer’s “menu” of options. These menus tend to be limited to stocks, bonds, and mutual funds. However, once you separate from that employer you

Have you ever wished you could get some help with your due diligence when you get a new list of assets in your e-mail? Today we have an interview with fellow note investors, Liz Brumer and Dennis Smith, of Note Investing Club. Liz kicked off her start in real estate as a response to a book her sister sent her: Rich Dad Poor Dad by Robert Kiyosaki. The pair has experience with wholesaling, fix ‘n flips, as well as notes. Note Investing Club is an exclusive member’s only website that allows note investors to access a VA training program to assist with the process of due diligence for non-performing notes. Members have access to a wealth of resources that provide the tools to train your VA to handle the due diligence needs of the average note investor. If you’re busy balancing your 9 to 5 then Note Investing Club has a partner site that can handle the scrubbing of your tape for you called Tape Techs. For a reasonable fee Tape Techs can turn around your due diligence in 48-72 hours, there is even an option for a

Challenges are simply opportunities for improvement. Robby has been having a bit of a hard time with communication between a few of his vendors. As he openly admits we all know these challenges are going to arise, but it is still frustrating when they do. He owns the fact that there is room for him to improve his communication with these same vendors and that may be all the situation needs. However, there can be a serious financial impact when these challenges lead to delays in your ability to move a deal forward. With a single loan having the potential for costs to run nearly $1,000 a month, or $30 a day, these delays can mount up over a portfolio. If delays occur on 10 loans a month out of a 50-loan portfolio, you will be costing your business nearly $120,000 a year in lost potential profit. That is a lot of cheddar. Chase takes us into a great conversation about being an expert. And how to hack the 10,000 hours everyone says you need to invest to become an expert. The motivation came from having a good wee

This week Chase and Robby record the show on Periscope for the first time. Chase mentioned Periscope, and the power of the app in his breakdown of 24 Real Estate Marketing Tools webinar. Go download the app, search out Chase Thompson and Robert Woods, to follow them and  keep up over there. After they get Periscope working, Chase and Robby dive in on the main topic of today's show, Goal Review. Though, the guys wanted to cover their goals midyear, the catalyst for covering them on the show was a snapshot Robby found. It was a shot Chase took from a yellow pad with the goals for the show written down. Thanks to you, and everyone who listens to the show, Note MBA has exceeded the goals for the year. As long as you are alive, you will either live to accomplish your own goals and dreams or be used as a resource to accomplish someone else's. Robby has been listening to Grant Cardone's 10X Rule, and that fueled our thoughts on setting higher standards for our goals. One of the main take-aways Robby has gotten fro

Chase has been traveling and Robby has been at the beach, but we’ve both been working and we’re here again this week to toss around some chatter about note investing. Chase has been interacting with a bunch of other investors and is going to attack a topic or two that came his way. Chase dives into some tips on how to find some realtors in your non-local markets to help you evaluate the assets you can’t personally visit. There are some active and some passive ways to get this information and we discuss these as our first real topic. A few of those main resources are: Bigger Pockets, Active Rain, Council of Residential Specialists (CRS), and MeetUp.com. Robby has had to modify his road trip since he kept pushing it back in anticipation of closing on a large deal in Chicago. Instead of sitting around and not doing anything he’s hitting the road and to do a shorter road trip up to Georgia to deal with two properties. Along the way he’d love the opportunity to meet with an investors that listen to the show. Robby

Robby apologizes for falling short of his promise to deliver the numbers to Chase so that he could put out the case study for the Tampa condo deal we’ve been talking about. We run through a buy-out that Robby is doing with a JV investor for the condo that they picked up down in Ft. Pierce, FL. The investor is a show listener and picked up on Robby’s desire to add the property to his rental property, and asked Robby if he wanted to do a buy-out. The investor is going to receive what looks to be 40% cash on cash return in just about five months of being in the deal. All in all this is going to a good win-win deal. Robby dives into being conservative when doing your analysis on deals as it relates to ending up needing to do renovations on properties after the note has gone through foreclosure and has become an REO. He also gets into how buying in bulk on properties balances out your returns as some will need major renovations and some will come to you in good condition. Consider it a spread of risk across multip

More of an existential show than you’ve every heard from us before we hope you enjoy the ride as we jump around on topics that have been coming up for us the past week. We’re keeping the notes short for the longer than average show length. We jump off with a quote Chase shares from “The Millionaire Real Estate Investor” by Gary Keller. The second half of a man’s life is made up of nothing but the habits he has acquired in the first half. We have a conversation about some of the daily consistent actions/behaviors that Chase has and how they affect his productivity; everything from e-mail and Face Book, to powernaps and workouts. When you’re working on some of these daily tasks and habits, are they truly good ones, or are there habits present that aren’t helping you progress in your business? Another question that presents itself is are you going to do anything to change those habits that aren’t helping you move forward? “Planning is good, but if you’re busy planning, you’re not taking action!” We wrap up wit

Robby’s has returned stateside for this week's episode as we jump into some more detail on a few Florida deals and share some insight into deals with HOAs in the state of Florida. This episode also marks our sixth month of consistent shows!!! First though, Chase starts us off with a great online service to deal with customer service issues that might pop up at random times in your life. The company/service is called Ringr. You can find them online at www.getaringr.com. Use them to sit on hold and deal with the standard runaround we all run into when calling a variety of customer service companies as needed. We talk quite a bit on the show about designing a business and life the way you want. And we doubt anyone wants to include sitting on hold with some random customer service rep on to their list. Robby put together an small article this past week that we are going to put out on LinkedIn comparing note investing to a long road trip.  In addition we’re going to be working on a full case study this week regard

It's a tough life maintaining the lifestyle design portion of the Note MBA team, but Robby is always up for the challenge. Today's show Robby joins us from a little coffee shop in Bangkok, as he prepares for the voyage back to the States. Headed back to Florida after a brief layover for about a week in Southern California, Robby won't be in the office for long. He's planning to take a mini note investing roadshow. Basically, he's going to hop in the car and drive some assets he hasn't seen in about a year. As well as check out some newly acquired assets. The goal of the roadshow is to familiarize yourself with the areas you invest. Whether its hopping in the car, booking a flight, throwing a kayak on your back, traveling a bit to look at communities and assets is always a good idea. If you bring in JV dollars like we do, it's a good practice to add to your business. After our marketing in note investing episode, Chase fielded a bunch of questions about email marketing. So, we dive into a mini email marketing

Robby is coming to us from the other side of the world once again. We start out by focusing on the difference between vacation and travel and the emphasis on planning for whichever it is you’re actually doing. Stop and ask yourself if there is something you want to experience, but you haven't yet. Vacation is an easy one, but decide what that is for you. Then plan your life to make it happen. Jumping into some note business, Chase hits on how to up the response rates on bids your submitting. This topic came up during his trip to Miami and we discuss some reasons you may not be getting the response you want and a few tips to help you change that around. As we continue to manage our business, we hit once again on managing your servicer. Something that should not be part of your business, but it is a necessary evil of the note business. You can’t allow things to be left alone if you truly want them to be completed in a timely manner, as they should be done. Just consider the costs incurred or income lost for eac

A slight improvement in audio quality even as Robby is coming to us from the other side of the planet in Ho Chi Minh City, Vietnam versus his drive to LA last week. Robby is headed out to the beaches of Thailand to continue his location independent note business.With that said, we’re going to focus on marketing for today’s show, which means Chase will be providing the bulk of the content this time around. “You’re not bad, you're just not as good as you would like to be.” We’re going to run with this quote as the basis for your marketing, even though Chase is basically telling you your marketing sucks! Check out the marketing webinar Chase did that we have up on our Note MBA YouTube for a refresher to some marketing ideas. Images as content drive conversion because we as humans are visual creatures. Visual perception – The concept from a recent Stanford University study that says the human brain makes you perceive your environment in a certain way whenever you’re viewing an image. The will associate this cre

We apologize for the audio yet again, but we are getting it done for you regardless. The past few weeks have involved a bunch of travel and Robby is coming to you from the road as he drives from Las Vegas to LA, not wasting a minute to get some work handled for our listeners. The $1,000 deal: Robby has found a note down in Miami and was able to do some due diligence during a long layover on his way to Las Vegas. Robby is actually going to front the money for the deal so that a pair of investors he knows can get their first deal under the belt and get it worked out. This note is about taking action and showing people that you can go out there and find a note where you can get into a deal for $1,250 to acquire the note alone. Back to marketing, we went back and forth on spending the time and money on going out to Paper Source in Las Vegas. It was a great event for marketing and we would suggest that new investors put this on their radar as one of the top seminars to attend in the note investing space. Robby had

Happy to be the legal drink age of show numbers. So, raise a glass, wherever you are, to the podcast Chase put together a webinar on marketing for our listeners last week. If you weren't able to make it, don't worry it has been recorded. You can check out the webinar on our new YouTube channel by going to: NoteMBA: Note Investing On YouTube Robby was just up in Chicago pitching NoteLinQ and checking out a Cubs game. Following Chicago Robby will be heading out to Las Vegas for Paper Source at the Tuscany Hotel. Come say hi to Robby and catch his panel with Jack Krupey, Fuquan Bilal, and Rob Hytha. Robby is trying to sort out his next trip since he forgot he had to go to Chicago and Vegas. The current debate is between three weeks in India or Nicaragua. The key to lifestyle design is continuing to keep your company's systems working while abroad. The system, Internet connection, and a good international cell phone plan are the keys to keeping the company going. Stacey, Robby's new assistant, will help make thin

A few shout outs following our week up in Newark at NoteWorthy East. Robby breaks down an asset that he purchased for a Joint Venture investment funded by a friend from college. The investment fell outside the standard investment, as it was a fairly low cost note acquisition. The HOA held title as they had foreclosed a few years prior and were renting the property out for a small bit of income to the HOA. There are bunch of numbers flying around as Robby explains the deal, so we’ll be putting out a fully case study on this asset once the asset has been disposed of in the next few months. This was a great deal, but one of the big things to take away is that regardless of the size of the investment you make, you still have to make an investment to get into the game! The more deals you do the more you’re spreading your risk out and you’ll have a win like this to balance out a loss like the one Robby had at the end of 2014 in Kansas City. Robby gives another way to look at how you’re calculating your ROI and what

Doing an interview while at the NoteWorthy East Summit in Newark, NJ, Chase and Robby take some time out to interview Fuquan Bilal from National Note Group (NNG). Fuquan has a great background in 2nds, something that Chase and Robby will openly admit to only knowing enough about to get themselves in trouble. Fuquan has been buying 2nds fulltime for the last three and a half years, as part of his 15 years focused on real estate investment. “If you want to get drunk of yields, go into seconds!” We really like how Fuquan says that when buying 2nds it gives you an “option” on a property for a small amount. During the course of the interview Fuquan hits on a soft spot with the NoteMBA crew, which is that National Note Group doesn’t sell loans they don’t have complete collateral files on. Highlighting one of the largest outstanding issues in the marketplace for a retail investor. If there isn’t a good collateral file, you shouldn’t be buying the loan. As a due diligence nugget, Fuquan hits on the fact that when i

Sorry for the audio quality, there was a bit of a technology issue this week. We feel horrible that we had to drag it out for so long as a secret, but we’re finally ready to talk about the launch of NoteLinQ. As Chase puts it, NoteLinQ is essentially the eBay of the non-performing note market. We know, as people within the business, and from all the communication we do with others in the business, what two of the biggest needs are: Deals & Capital. NoteLinQ is positioned to help as many people in this space with the first need, deal flow. This has been a total labor of love for months now. Since Robby was in Thailand back in episode two. One thing to note is that Robby is offering a $150 discount off the registration for the first 18 Note MBA listeners that sign up on Wednesday and Thursday. Click on the Buyer Registration from the NoteLinQ homepage. Use the coupon: notemba. He’s also going to send you a $250 credit towards your first note purchase from the platform. Come check us out at NoteWorthy East u

We’re back at it after a week in San Antonio where we got to take a hard look at our businesses and hang out with a great group of people. We planned on bringing you an interview this week with a nine-figure hedge fund manager, however, that file got corrupted, so you’re stuck with us today. We had also hoped to make a big announcement this week, something we’ve been teasing for a few weeks now, but as things go, we’re saving it for next week as we prepare to be up in Newark for the Note Worthy East Conference. Big thanks, and shout out, to Sonja-Reneis Pope for writing to us in support of the podcast and our upcoming announcement. A big part of the week in San Antonio was the SWOT analysis we did of our individual business. Though we both felt like we had just done this review a few months ago, the refresher was very valuable. This is something we think all of our listeners should take the time to do for their own business. One of Robby’s biggest takeaways as a threat to his business is continuing to spend t

Coming to you from San Antonio, TX this week. We have discovered that bagels in Texas are the same size as the national average, so not everything is bigger in Texas. Chase has resolved the account issue with his servicer, FCI. While sorting out the issues he took the opportunity to escalate his loan to Full-collection Specialty Servicing. The real nugget here has to do with the fact Chase was distracted by life over the past two months, which led to a lack of focus on the note while it became non-performing. Additionally, he never reached out to the borrower based on fear. One of our favorite authors, Steven Pressfield, calls this The Resistance. “Fear is good. Like self-doubt, fear is an indicator. Fear tells us what we have to do. Remember our rule of thumb: The more scared we are of a work or calling, the more sure we can be that we have to do it. Resistance is experienced as fear; the degree of fear equates to the strength of Resistance. Therefore the more fear we feel about a specific enterprise, the m

We take a run through on a mistake opportunity that Chase has to improve how he is working with his servicer. Given the loan they were servicing was a newly re-performing loan; he hadn’t had a reason to log into the servicer. Now that the loan is no longer performing, there is a bill from the servicer that caught his attention. This opportunity highlights that our listeners need to have these things sorted out prior to boarding a loan with their servicer. Additionally, Robby highlights that Chase needs to make a call to his newly non-performing borrower, and that he needs to get his servicer to update their collection efforts on the loan. There is no reason to delay. Never put off 'til tomorrow, what can be done today. While we’re talking about opportunities to improve our businesses, Robby feels he is struggling to get out into the market to find more sellers of notes. As he has said in the past, you vote with your dollars and he is still having the standard headaches when buying from some of the same sell