Note Mba

How to handle overwhelm? This was the question I was asking myself after receiving a tough to read email from a podcast listener. And no, before you ask, it wasn't tough to read because I'm getting older and need glasses. My wife already beat you to that joke. It was a difficult email to read because it contained some harsh criticism for the podcast. It was tough to read because I love doing the show, and want to produce the highest quality product I can for everyone. And it was hard to read because it was true. So, how to handle overwhelm? That is the question I needed answered. Dr. Dan Wurzelmann For help with tackling the issues of being overwhelmed, anxiety, fear, and vulnerability we turn to Dr. Dan Wurzelmann. Dr. Wurzelmann is the host of the Learn Psych podcast. He is currently completing his fourth year of psychiatry residency training at the University of Michigan in the Department of Psychiatry, where he is the University Hospital Inpatient Chief Resident. He graduated from medical school at the Un

Every so often - though not as often as it used to - I encounter emotions bordering on ballistic because the line at the store is taking longer than it should.  Or when my charisma doesn't get me the upgrade I wanted. Or when one of my children is in a mood that could certainly cause the start of World War III. Or any number of other things. However, thanks to the podcast, but mostly my friendship and relationship with Robby Woods, I've been able to recognize a few things. One, family and health are the most important considerations in life. Everyone is going to define family differently. I share no relation with most of the people I call family. And health seems to be an ever elusive thing to nail down for many - but never stop trying. After than, comes personal freedom. And if you think family has a varied definition, just try to pin down what personal freedom means .  For me, it's having enough for the lifestyle my wife and I want to live. It supports your eventual retirement, if that is what you wa

How to live richly is one of the chief focus points for today's show, with Sándor Lau. Before we get into all that though, we break down how and why Sándor got into note investing. Sándor is a super charismatic guy, and one of my new favorite people in the note space - though he's been in it longer than I have. Like we mention in the show he's the Chinese-Hungarian-American-New Zealander, Eagle Scout, and Fulbright Scholar your mother warned you about. However, don't let that description fool you. He knows his stuff, and he brings some great content and advice on today's show. Sándor Lau Like many of us, Sándor came to the real estate business, specifically the note investing business at a difficult time. He had made some award winning films and was a news anchor in New Zealand. He enjoyed the life of an artist, but the starving part started to wear on him. After reading some books on investing and real estate he landed on a book by Gordon Moss. We've talked about the book on the show before, Performance Anxi

Buying multiple 2nd lien notes, instead of one 1st lien note - for the same amount of money - was one of the primary topics on this week's show. As we continue our march towards June, May the month of 2nds rolls on. This week we have a delightful conversation with Cathie Jeffs. Cathie has been a full time investor in the second lien space since 2011. Like myself, and many others, she got her start in the space after being downsized.   She made a brief pitstop with the fix and flip crowd, but it didn't take her long to find the note people. Buying Multiple 2nd Lien Notes Buying multiple 2nd lien notes is something most people in the seconds space hang their hat on. Fuquan Bilal has mentioned it before on the show, and so has Dave Van Horn and Gabe Kass. There are a few different reasons why this is an important part to the second lien strategy. When buying multiple 2nd lien notes you get to mitigate some of the inherent risk in 2nd liens. The typical example someone will shoot off is: when you buy 10 second li

Investing in 2nd liens has been the topic all month around here. And you know what? We're not about to stop now! On today's show we've got two phenomenal investor talking all about investing in 2nd liens. They drop some deal examples and case studies. We also cover some of the difference between the due diligence process on 1sts and 2nds. [smart_track_player url="http://traffic.libsyn.com/notemba/NMBA-Episode-124.mp3" title="" artist="Note MBA" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_pinterest="true" social_email="true" ] We kick off today's show talking about some wall art in Gabe Kass' office. It's a wonderful piece with four Chinese characters paint laterally. Roughly translated that characters mean, "If you work hard you will reap great rewards." Not sure there has ever been a more fitting quote to start a show off with. Investing in 2nd Liens Kicking us off Kimberly Bank Fawcett talks about a 2nd she recently acquired in Miami. This par

Investing in Ohio real estate is something we've been doing for some time. We've talked about numerous note deals happening in the wonder state of Ohio. In fact, that deal we've been lamenting because of an aggravating contractor, Ohio. The deal with the borrower that deeded a property to a friend, who subsequently filed bankruptcy, Ohio. Suffice to say we know a bit about investing in Ohio real estate. Today, we have the opportunity to talk with, Franco Barile. He's an attorney in Ohio, and came strongly recommended from Adam Adams. We might have a portfolio of deal in Ohio, but this guy is in the trenches every day. Franco Barile Franco Barile is the other half of Sotitile & Barile, a fantastic law firm out of Strongsville, Ohio. This particular law firm came highly recommend from Adam Adams, who has a growing portfolio throughout the state of Ohio. After a chance encounter during one of the morning sessions at Paper Source. Which led to some great conversation about 2nds and different investing strateg

Fuquan Bilal is one of the nicest guys you'll meet in the note investing space. If you're at an event, he's always available to answer questions, give feedback, or just rap with you about the industry. He's been on the show before, and now he's back to help us kick of May the Month of 2nds. We've openly talked on the show before about not having much experience in the 2nds space. So, we though now would be as good a time as any to bring some experts on to talk about them. We could hardly think of a better person to hit the show first than the one and only, Fuquan Bilal. Fuquan Bilal Fuquan has a great background in 2nds, something that we will openly admit to only knowing enough about to get ourselves in trouble. He has one of the best explanation of what a 2nd represents in the investment space. A 2nd is a high-end collection with security. He even drops one of signature lines, "Seconds come first." We cover a ton of ground in this second - get it, sorry it won't happen again- interview. An interesting asp

Show notes coming soon!

Working a short sale can be a bit tricky. That is if you're working with traditional banks. One of the exit strategies I most often forget about is doing a short sale. On today's show we do an interview of sorts about just that, working a short sale. Of course, it wouldn't be a Note MBA deal if there wasn't a bit of creativity thrown in for good measure. So, you're going to want to get the lowdown on this deal. Working a Short Sale Today we interview a newcomer to the real estate investing world, Nick DiSanza. Nick is a forensic loan analyst for a company based out of Dallas. His job for the past few years has been to review many of the loans we buy as note investors, or at least loans like them. They do this on behalf of the investors that backed the loans. Finding fraudulent loans, or loans that weren't exactly what the sellers promised is his day job. However, by night he's a newly minted real estate investor. He met Robby six months back and was instantly interested in note investing. So, Robby put him on

Long distance remodeling is current kicking Robby's butt. Well, more specifically one particular long distance remodeling job is kicking his butt. On today's how he steps up to the late to talk about our difficult Ohio deal. He isn't just pointing fingers either. On this deal he talks about some of his shortcomings as well as the massive pain that a few contractors have been. Long Distance Remodeling Robby took a day trip up to Ohio to inspect one of our remodels. During a dinner with some local real estate investors he was asked about what he was doing there. He told them about this deal, which has a contractor that has botch just about everything you possible can. The worst part of the entire ordeal is that this particular contractor came to us via a referral. It's been an incredibly drawn out deal. And the insult to injury reinforcement came in the form of another contractor, basically, tattle-telling on this other contractor. IT is never a good sign when you have contractor infighting on the job. We haven

Your note investing strategy is going to take many different forms. Some of the key factors that will inform your strategy are current and past relationships, individual skills, prior real estate experience, etc. Let's dive in on how David is planning to start growing his note investing business. One of the biggest things we'll be interested to see how David attacks note investing is DistressedPro. We recently had Brecht on the show, and we've been wanting to work the software into our business. We're really going to start digging into what is available for new avenues for inventory. We also cover a quitclaim deed issue in Ohio, requesting a tax payoff in Cook county, and more. Your Note Investing Strategy Right off the top David mentions needing to get an LLC lined up. Though he already has one for a separate real estate venture, so he knows that isn't completely necessary yet. Also, he'll be working through Robby's LLC, and working through some deals that we already have under management. This isn't an opti

Growing your real estate investment team can be a daunting task. We've talked about some recent additions to the team in a few episodes. However, today's announcement will be a bit of a shake up for us. Today we introduce a new co-host for the Note MBA podcast. Along with today's announcement, today's show was the first time Robby and I've recorded a show in the same room in what feels like forever. So, if you're interested in the video component, please head over to our YouTube channel. Don't forget to subscribe while you're there. Growing Your Real Estate Investment Team One of the biggest things we've been working on over the past few months has been our business systems. These changes and enhancements to the business have been mostly predicated on business growth. Our systems were perfectly designed for where we were, but not for where we wanted to go. Along with these systems we've been talking about expanding the team. The struggle when growing your real estate investment team can come from numerous ang

What are the metrics real estate investors look at when deciding to invest? Which social networks should I be focused on to attract more deals and private capital? Those are two of the most frequently asked questions sent to us via email. These are the two of the things we address in today's episode. Even though it's the Spring Break episode, it didn't feel right to leave you hanging without a show. So, we do some listener Q & A. After that I pose a few questions to the investor community that listens to the show. Metrics Real Estate Investors Look At When Deciding To Invest So, what are the metrics real estate investors look at when deciding to invest? The answer to this question is both specific and nuanced all at the same time. The four big metrics you're going to want to focus on are: Cashflow: Robby has talked about it before on the show, but cash(flow) is king. More specifically, especially with notes, is you need to be comfortable with having to hold onto the property. Not forever, but maybe. Run e

Distressed Pro is software many in the real estate investing world use. So, today Robby and Chase sit down with the creator Brecht Palombo to talk about Distressed Pro, the state of the industry, and where he thinks the market is headed. The guys jump into this show addressing Robby traveling out to New Orleans. The last time Robby has to 'phone in' a show he was driving 75 mph down Cajon Pass - between Vegas and LA. With very little fanfare, mostly due to their ubiquity in the industry, the guys jump right in with Brecht. While the gentlemen are both back from some culture heavy events, they waste no time jumping back into the swing of things. Distressed Pro Distressed Pro is home to the BankProspector software. This is a hosted online software (SaaS) you can use to source institutionally owned off-market notes and REO deals. The way they've designed the tools in BankProspector give you fast, easy access to non-performing loan and REO portfolio information, “sell” indicators and contacts so you can source mo

Robby is selling a Las Vegas condo he's had since he got into the business. We polled the community, and you sent over your feedback. It was a bittersweet moment when he realized that selling was the right move. Along with that, we also discuss Robb'y trip to Haiti and giving back. While the gentlemen are both back from some culture heavy events, they waste no time jumping back into the swing of things. Chase starts out by referencing an episode from about 20 shows back where they polled the audience. It was a poll about whether Robby should focus on selling a Las Vegas condo or keeping it. The overall recommendation was to sell it which Robby went ahead and did. Robby took a video on it which will be released soon as well so keep a look out for that. Robby then segues into his transformational charity trip to Haiti which reminded him of how he and many people can overvalue certain things in life (the Vegas property was one of them) and that we need to remember that life provides abundance in so many ways tha

Hey guys, We're really excited with the idea of these extra episodes to the podcast. I came to Chase with the idea of just reading from books that I'm being influenced by, or that he's being influenced by. And we're going to mix that in throughout the course of the year with some video. But, given this is our first go at it,I guess I thought it was important to point out this is just a book we're really influenced by. It's not number one on the list, it's not number 10 or number 20 - I don't really know where it falls. I think it's really valuable to just have in your space. I know I appreciate that I was exposed to this book by multiple people. One person pointed out four chapters specifically. We'll be bringing you something special regarding that, and try to include a cameo appearance by that person. I want to say thank you for listening. Bare in mind that this first reading is my first attempt at anything like this. We appreciate all the feedback that you guys might have about this project. And as always,

After discussing some Oklahoma CFD updates, Chase dives in on improving your Aweber email template, as well as Mailchimp. After that he talks briefly about the deal flow issues people are experiencing in the note investing industry. On today’s episode, Chase is flying solo as Robert is down in Haiti for a charity project called Children First. We’ll have more to report on that when Robert returns for next week’s show. Starting out with the CFD, it was a really good deal and a lot of the due diligence they did on the front end made it look like it would not be a modification as previous owners of the note were unable to get a hold of the owner. However, right after they bought it, the borrower came into the picture. As soon as they reached out to him with some modification paperwork, he disappeared again so now they’re dealing with a deadline on a loan mod. They’ve got about two weeks left until the deadline arrives so keep your ears peeled as Chase will give updates as they come along. Moving on to the next p

Before jumping in on a challenging tax value in Chicago, Chase discusses his recent marketing event that he hosted and his respect for high energy individuals such as Tony Robbins and teachers that are able to teach others day in and day out. Meanwhile in Orlando, Robert’s 2017 theme of organization is still going strong and he notes that he still has much to accomplish. He also mentions that he’s been doing some more research into Facebook advertising as he has another asset that he wants to sell to a 3rd party at the upcoming foreclosure sale similar to what they did with another recent asset. Robert explains how he has a few other deals he’s more interested in at the moment so he would like to sell this off at the foreclosure sale so he can invest the capital in other deals. The foreclosure auction is scheduled for February 27th in Aurora, Ohio so stay tuned as the results will be coming up in the next week or two! The guys then segue into a recent Tim Ferriss podcast and the need to get your hands dirty s

Hey guys, We're really excited with the idea of these extra episodes to the podcast. I came to Chase with the idea of just reading from books that I'm being influenced by, or that he's being influenced by. And we're going to mix that in throughout the course of the year with some video. But, given this is our first go at it,I guess I thought it was important to point out this is just a book we're really influenced by. It's not number one on the list, it's not number 10 or number 20 - I don't really know where it falls. I think it's really valuable to just have in your space. I know I appreciate that I was exposed to this book by multiple people. One person pointed out four chapters specifically. We'll be bringing you something special regarding that, and try to include a cameo appearance by that person. I want to say thank you for listening. Bare in mind that this first reading is my first attempt at anything like this. We appreciate all the feedback that you guys might have about this project. And as always,

This week we discuss out of state rehabs, have a discussion on goals, fat taxes & a situation in Cook County, Chicago. Robby received a letter from a borrower in the mail about a tax situation where somehow taxes on one of his assets were not paid. So, he had to think outside the box and work with his attorney’s to get them paid within 24 hours. They then segue into a situation up in Cleveland & Canton, Ohio where Robby signed off on the closing documents for a nightmare property. While he sold the property for less than he could have, Robby still made a really good return for the short amount of time they had the property and was able to hit two birds with one stone by getting rid of the horrible property management company Hayes Property Management, in case anyone forgot, on this one and by getting access to the capital that was tied up in the property so he could use it on another deal. On the Cleveland portion of this trip, Robert went to check in on some remodels he had going on with a solid refe