How Can I Sign Oklahoma Banking Word

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all right everybody welcome to our next city in the notification top 40 tour as we roll into okc oklahoma city oklahoma honor to have you guys join us here tonight whether you're joining us live or catching the replay feel free to ask questions we're always glad to monitor those questions and get back to you in a very timely fashion whether it's live or on the replay so encourage you all to ask questions as we discuss things on the residential and the commercial side and kind of talk about where the market is right now but we've got a variety of different cities that we are covering over this 40 city tour oklahoma city uh is roughly the 70 mark of where we're at and the rest of the way with i think about 12 cities left there's a variety of local and national investors that are keeping an eye out what's going on in oklahoma city you guys check out the full schedule and the replays from each of the cities at notenationtop40.com uh check them out there ask questions comment feel free to share the videos as well too for you but we'll be discussing statistics and some different numbers that are going on economically in oklahoma city we'll talk about future opportunities we'll talk about where to look for those deals and how to get started and tap into them tonight but anyway guys my name is scott carson this is the first time you've seen me welcome uh honored to have you guys i've been an active real estate investor since 2002. i am the ceo of weclosenotes.com you can find out all our different education opportunities available there at the website i've purchased in the past 10 years over half a billion dollars in debt i have been teaching and working with investors like many of you guys out there on distressed property since 2004 uh in the last three years i've been the host of the popular and nationally syndicated podcast the note closure show podcast that you can actually download anywhere that you listen to podcasts and i invest all across the country but i'm a little south oklahoma city i call austin texas home another shade of orange i guess you could say but anyways our mission has always been to help investors to accomplish their goals and dreams increase their wealth through what i think is the biggest opportunity in debt investing but buying the debt and becoming the bank and many people have asked me why am i doing this why i'm spending uh hours out of my schedule each day working on specific markets because i believe a couple things well first and foremost i do love to help investors and i think planting the seeds now so that people are aware of what's coming down the pipeline what's happening here in the near future is a great way to help people out there i also love to help people solve problems out there and i think there are a lot of people facing problems with unemployment and forbearance agreements and commercial defaults and business going out of business so i love to try to help people in any way or fashion that can help solve problems i do believe as i mentioned before i do believe that's what's going on right now and what's going to happen the next 24 to 36 months is the opportunity that we've all been waiting for many of us that we're able to go through an opportunity a dozen years ago and make a lot of great things happen from what happened the great recession the opportunity has re-arrived and history is repeating itself and i also i'm a little empathetic towards the people that are facing in struggling times right now because at one point i was a distressed borrower i was once facing foreclosures for being laid off so i understand what's going on i'm saying that emotion and my goal is to help people out there all right because there is nothing greater than lot in life than helping someone overcome an obstacle or achieve a goal or dream that they thought was once impossible and we've all had that dream there've been a lot of people that bought a house i thought that was once impossible it was a dream of theirs they achieved it now settling them being laid off is now turned into a nightmare and they need somebody to help them out with that that's what i'm here to do i would love to have you guys help me accomplish our goal by helping over a thousand investors in the next 12 months accomplish their dreams becoming a real estate investor or enhancing their real estate portfolio through what's going on right now in the market so let's dive into where the opportunities well the opportunities are literally everywhere ladies and gentlemen and i don't care what asset class you're in i don't care what asset class you're dealing with there is a lot of opportunity out there whether it's dealing with self storage the apartments the single family homes the mobile home you know affordable housing has been a big thing or maybe it's offices or maybe it's hotel motels out there whatever it is the opportunity is good for everybody because what's going on right now may has no bearing on how old you are or young you are color of your skin whether you're a business owner an employee a failed in the past or successful in the past it does not matter the opportunity exists now for everybody and that's the beautiful thing about what's going on is you don't need to have great credit you don't need to have millions of dollars in the bank or even hundreds of thousand dollars in the bank to tap into what's going on right now the opportunity is an equal opportunity if you can come to the table and make some things happen hey the banks be willing to work with you in a variety of fashion trust me i'm proof of that of what happened over 12 years ago and what we've gone through today so let's talk about whatever your goal is because we've all got goals 20 20 has been a bit of a a pisser of a year i think we would all agree but the thing is to keep in mind is that we've all got goals that we want to accomplish long term goals yeah maybe a hiccup here there but we've got long-term goals maybe it's to sit outside in the beach in retirement drinking more margaritas and pina coladas and getting a tan maybe it's to spend more time with your spouse retiring your spouse from their job one or two whatever it might be maybe it's to pay your kids or college hope to go to the college of their choice with everything in the upward maybe it's to take you and retire your mom or dad who are still working who've helped support you along the time maybe you want to travel more with your friends and family see some exotic places god knows i'm missing travel right now but maybe it's just the fact that you want to upgrade your digs update your crib create more wealth add more real estate your portfolio whatever it might be those are all great goals it doesn't matter there's one thing that all those goals need and it needs money whether it's a you're paying for it or it's money coming in to pay for it yours other people's money or cash flow you need to have cash to do that and you know what ladies and gentlemen if you're sitting at home struggling or have friends struggling you know what this is an opportunity right now you've got a good six months you've got 90 days to get rocking and rolling to understand and hunter craft that you can really make a lot of good happen not only just for yourself but for the barbs out there so put a lot of that green benjamin franklin's in your palm grown him to do what you want all right it's an opportunity of a lifetime and so let's talk about what the opportunity exists and what the national numbers say out there now sometimes it can be a little sad what's going on in the market right now we're at one out of every nine people is unemployed with an unplanned rate of 11.1 percent over 50 million people have filed for unemployment since it started 52 of small businesses are expected to fail uh one out of ten homeowners was already struggling to stay current before the pandemic hit yes one out of ten was already 30 days late now we look at what's going on now uh that number has gotten worse to where we see 7.76 percent national delinquency rate that means one of our 12 bars at least 90 days behind past the liquid status and we're going to see that number actually skyrocket here over the next 90 days too currently four more 4.1 million americans are currently default that's represented at 7.76 number but they say there's probably another four million borrowers out there that are on the verge of going delinquent over the next 90 days if you think about this looking back at history it took us 18 months when the recession started for us to hit 1.6 million defaults back then well we're two and a half times that three times faster if you don't think it's going to get worse then let me help you pass the crack pipe on down to somebody else because nobody's talking about this nobody's talking about this at all they're all worried about the small amount of deaths they're not talking about the borrowers in trouble they're not talking about the banks that are facing difficult times as well and so be prepared there's gonna be some tough decisions make and i would rather have you be on the good side of the decisions versus the bad side lenders are bracing literally right now they've had the benefit of being able to figuratively kick the can down the road for six months with forbearance agreement especially on a lot of the government-backed loans but lenders are bracing for up to 15 million mortgage defaults out there again everybody now you look at what's going on in oklahoma let's bring it back a little bit to locally there for you guys oklahoma it's actually doing quite well when it comes to housing hardship index this is a index put on by bank uh bank rate and they take a look at the unemployment the default rates and then the kind of the rank the states in a you know one through 50 level well oklahoma ranks not so bad unemployment's actually less 6.6 one of the lowest unemployment rates in the country which is good the delicacy rate is right there just just a little bit below the national average 7.61 now a lot of that is due to the oil and the natural gas stuff that's why i was a little surprised to see the unemployment rate lower than the national average in oklahoma when i was doing this but that's okay uh oklahoma ranks 38th nationally on the low side when it comes to housing hardship it's afford a very affordable state meaning average price point in oklahoma city is about 180 grand in housing okay now if you look at the unemployment rates how it compares around oklahoma city oklahoma city as of july is basically at seven percent in june canadian county 6.9 um cleveland 6.7 grady 6.5 oklahoma county is that 7.3 so you see how it kind of rolls out through june numbers july's numbers aren't out yet okay but you can see okay oklahoma c and it's right on par where everybody else around there for the most part now look at the number of foreclosures uh auctions and banking stuff that number is up a little bit over last couple months now you can see how it kind of dropped off there in the in march the numbers went from you know higher to nothing and it's kind of flat line as far as pre-foreclosures because nobody's starting the pre-foreclosure process yet they're still giving people opportunity it's a little bit of a spike in maybe the auctions that number dropped back down and of course banging out numbers are going to be a direct um inverse relationship to the auction aspect of it so you see a little bit taken back up there obviously you see kind of a drop off a map in march up in eight a little up in april would be in a low point up in may down in june back up in july a little bit there this is the first one i had a little bit in july there for you but oklahoma is uh has not really implemented any policies related evictions and foreclosure response to coronavirus this is a map that kind of outlines the dark greens and states that did statewide man moratoriums the lighter green local moratoriums are very very faded green uh evictions that resumed and no state or local more terms were stopped so oklahoma didn't say anything like hey it's it's normal don't care if you guys stay at home we're not going to stop the foreclosures for you or evictions you can pay your rent so kind of be that as well now of course we had these six-month forbearance timeframes by the government-backed loan same thing uh president trump did the same thing just a few days ago now we're gonna extend it through at least august 31st on a lot of the fannie and freddie stuff so that's a good thing but you also have to realize too that if you're a renter watching this and you're in a property that does have a government loan attached to it that eviction uh moratorium nationally does apply to you now if you don't know you can check it out by doing a search on the fha or fannie mae government website out there to find out if the property you're at is secured by a government loan now gradual return of foreclosures this is through middle of july oklahoma is about about five percent where it was beforehand um not as extreme as some of the other states out there slowly getting back to normal and that's leaving a lot of people to realize hey are we going to see this huge wave of foreclosures uh and evictions as values drop from foreclosures yeah you're going to see something that's going to vary on a state by state and market by market basis you probably won't see that many in oklahoma initially let alone oklahoma city because of obviously the bank's kind of kicking a can down the road now what loans are in the biggest type of defaults you know what's what type of loan products are having the biggest problems well this chart shows kind of what user broke down the fha loans in the green there are 9.69 percent default rate basically one out of 10 borrowers in the fha that's usually a first-time home buyer buying a new house that's the ones that are struggling the most because a they got the least to put together also it's kind of a subprime loan when you look at the fact that a lot of the banks last two years three years have been donating the down payment required by three and a half percent by the fha they've been donating that and paying it and then also paying upwards of 10 grand towards closing costs bank of america has been doing this all across the country and we'll talk about where bank of america is on the opposite side of the scale your traditional conventional owner is at 3.16 default rate not very bad but still higher than what it was as the national default rate was back in february your va loans are at 4.65 and then the other ones at 4.36 out there now we all know and hear about four bearings agreements across the country that number continues to stay strong roughly over four million four and a half million roughly somewhere around there economists though and the mortgage professionals say there's probably another four million borrowers out there though that have not filed a forbearance agreement because the fact is they just don't want to call the bank they just don't know their options and they're scared to do that so that's this 4 million we'll see delayed on the residential side going down this obviously doesn't um doesn't apply to commercial property but this is why we think the residential side is going to be dragged down for a while before before you start seeing a massive amount of foreclosures because the banks will have six months to evaluate their portfolios and decide who's on the naughty list who's not going to pay who's on the nice list you can pay right so is that good news or bad news well oklahoma does have a lower default versus the national average which is great but it does have longer foreclosure time frames it's a judicial foreclosure of 690 days to close as a fannie mae loan fha loan okay that's a long time okay if if the fha and the government-backed loans are going to get 12 months in potential loan forbearance agreements up to borrowers they're literally kicking the candidate and then it's going to take you almost two years to foreclose it's an fha loan you're not going to see anything anytime soon on the residential side okay that's not good okay it's going to be a while before you're a traditional real estate investor who's going to go buy reos and fix and flip them u or i'm going to turn into more rentals anything gonna happen for a while ladies and gentlemen i'm sorry to say that most of that stuff is gonna end up being sold off from one bank to a different bank or different investment institution out there that's not gonna hit your foreclosure market okay it's just not gonna do like it you would think it would i'm not saying we won't see a spike than what we've seen in the past it's just not going to be as dramatic for a traditional one-off mom pod investors showing up the foreclosure options and then you add in the troubles with the oil and the natural gas industries and a lot of those companies being distressed it's going to get worse that way as well also now let's talk about the commercial debt a little bit here everybody this is where i think a lot of the opportunity lies we see for sale signs we see for release signs we see businesses going out of business we see companies found bankruptcy at record levels out there i mean we've all we've had your ear to the grindstone i think commercial real estate has been overpriced for a while and the banks have been financing a lot of stuff that i think has been really overpriced especially looking at the multi-family market some of the others way overpriced now that's ended up binding them in the butt okay when you start looking at the default rates of different asset classes in the commercial site you see obviously a huge spike in hotels you see a big spike in retail you see others it's like restaurants and some of the other mixed-use stuff is also taking a big hit out there across the country now when you look at the u.s metropolitan areas by delinquent balance missions the top 15 markets with the biggest amount of cmbs debt um oklahoma city is not in there but dallas just south has roughly about 10 of their properties that are in the cmbs are in default definitely delinquent balance almost a billion dollars okay houston right at a billion you're gonna see a lot there in oklahoma city also take a bite in a variety of things um not only the cmbs side but then also on the bank side of things the bank finance not the wall street or cmbs finance stuff now 24 hotel loans of default one in five retail loans default 15 vacancy to increase in retail and restaurant space that makes that a very bad market to be in right now office vacancy is set to increase to roughly 20 nationwide that's going to affect obviously oklahoma city um you're expect to see rents drop by 10 to 15 by the year end and continue into next year now what does that mean well if you've got vacancy increasing rents falling that's not good that's going to affect your value their property pretty much dramatically now looking at what's who's what who is what who and what is financed what 10 12 years ago it was a lot of the wall street guys financing roughly two-thirds of all the distressed debt now it's been a different type of market now where the banks have gotten in and gobbled up that stuff and financed roughly 53 of the distressed loan space right now now just the tip of the iceberg is something experts say out there what's going to hit the market in default it's a whole other way they're saying that people are it's only the tip of the iceberg for that name if you look back at what happened in february and march the cmbs market lost 50 billion dollars in value in just a few weeks because the stress stuff and people going out of business and businesses are shutting down that market's come back some but not near what it used to be now looking at what's been financed by the banks these days banks aren't like doing traditional loans like you would on a single family home at 90 to 95 97 they're much more conservative on the commercial side where they're financing roughly at 60 to 70 percent of the as is value based off the cash flow and comps and cap rates and stuff like that well here's the big thing if they're they want to be at 70 or less and your value property has dropped by 20 that means their ltv has gone up by roughly 15 to 20 percent if your rents have gone down your cap rate has also gone down so the banks are giving borrowers time and tenants time to get back on track but after six months especially here at the fourth quarter they're going to start asking these borrowers to start bringing cash to the table 10 15 20 to write down these loans to do it appropriate and comfortable ltv level most borrowers most property owners don't have an extra million or half a million or 100 grand sitting around to write down their loan so it's going to be a lot of defaults across the country and you're seeing this already taking place in a variety of fashions out there news now what's the opportunity well um they may not be clearing this stuff as well but the biggest thing for you guys to do as investors is to put some capital together and go out and buy some of these loans at huge discounts that makes sense for you to take these loans over and then either a work with the current bars or try to reposition the property variety ways now reposition the property is going to take a little bit time we'll get to that but if you don't think the banks are hurting look at the different news outlets coming out they expected in july that banks stand to lose roughly 48 billion dollars in commercial real estate that's what they thought initially well it looks like that number is going to be a lot worse because bangla america alone bank of america wells fargo city bank and chase just recently announced they were going to be losing a lot of billions bank of america is set to lose roughly 5.1 billion so they set aside for their sour and bad loans out there that's their piece of the pie now you look back just a few days ago when this article came on ds news it's a bad thing the four biggest banks set aside more than 32 million 30 32 billion for loan losses in the second quarter it's close to a record okay singing the relief programs may not be enough to stave off a flood of bad debt everybody okay yeah bank of america 5 million out of 32 million to the side now look at some of the other things up there wells fargo to give you an idea there consumer deferrals were on a combined 35 billion of first and second mortgages representing 12 of their portfolio and 10 of each loan type respectively okay almost nine percent of jp morgan's residential real estate portfolio was subject to payment deferrals representing nearly three-quarters of the total 28 billion of consumer loans in deferral ouch wells fargo reported 44 billion okay that only that report only that it modified 38.2 billion commercial loans without disclosing the amount remaining in deferral by june 30th of course citibank modified about 20 billion in consumer loans globally bank of america which provides figures as of july 23 was deferring payments on 7.7 billion commercial loans and get this drum roll please 28.5 billion in consumer and small business debt the country's on sales ladies and gentlemen the country is on sale all right so where are the opportunities at with what you're seeing here today okay there are opportunities is it the foreclosures in the reo market no it's going to be a while before anything works out that way but it's going to have to happen sometime soon and something because the government cannot keep printing money so the banks while they may not be incentivized to move a lot of stuff immediately they're already putting reserves away they've got to pull the money to get back and reservies they can't lend that money out that's how they make their money okay is it in the fix and flip business no because you're not going to see a lot of distressed property single family homes that you can step in and buy up hard money lenders already been calling to see if we're looking at buying debt at a discount okay plus the back-end financing has dried up for a lot of these investment property prop uh programs as well it's gonna be in the rental market heck no the airbnb market has been killed airbnb says basically six years of growth was lost in six weeks all right long-term rentals no student housing you don't know if students are coming back to school i've got friends that say their apartments on student housing are down 40 percent than where it should be people just don't trust going out yet so where's the opportunity line well the opportunities lie in you becoming the bank yourself in the debt game all right we're going to see residential notes become available in the fourth quarter notes not properties what i mean by that well the banks have had six months to evaluate their portfolio to see who's on the naughty list who's on the nice list the nice list of those that either a have gotten off of forbearance or have been smart with their other debts the naughty list of those that have asked for forbearance or asked for a second one going into the fourth quarter and the banks should be looking to move that stuff off of their books in the fourth quarter commercial notes though we are already seeing deal flow this quarter my buddies have talked about seeing more deals in the last 24 36 i'm sorry in the last two months and they've seen the last 24 to 36 months everybody that's where the opportunities become the bank buy this stuff at a discount 50 or less and really turn into some good but the biggest opportunity is not gonna be chasing the bigger assets it's that smaller asset class of two and a half million value or less now that may not seem like a smaller asset class to many of you if you're buying 50 and 60 000 houses but this is a huge overlooked asset because that's what the banks have gotten rich on in financing this stuff the 50 million dollar to 5 million greater that's all wall street that's all cmbs guys you can pick up a lot of assets at that two and a half million in value mark for big discounts and then work it out in some sort of way with the tenants or the borrowers okay now you're gonna have to be able to pivot if you look at these assets maybe you're buying a hotel and you convert it to a uh apartment complex like this guy's done in uh illinois or like our guy garrison gilbert is doing in uh pennsylvania and maryland taking some empty houses or empty uh empty hotels or close down hotels and turn them into a multi-family maybe you take office buildings and turn yourself storage like this guy's doing in denver you got to be flexible and you have to be as a local investor there's a lot of opportunity for you to figure out what is missing in the market that you can take an empty big box store and turn it into self storage or turn it into something else compared to what it was set for bankers are not very creative people all right and x you know being an ex-banker i understand you look at what happened in 2008 where chase bank made zero commercial loans in 2008 in the state of texas yeah that's all you got to know there is opportunity for all of us so let's talk about some of the banks of trouble in the great state of oklahoma are there banks in trouble well hell yeah there is one thing that we do and use on a regular basis is a soft is a service called bower financial you know about our financial is it's a ranking system that looks at banks assets they look at their quarter reports that they file every quarter to see what kind of distress they're in how much in loans they have in default and it ranks them from zero stars to five stars now we like to track banks that have five more branches because now they're a little bit bigger of a footprint those that branches banks only have like one to four branches really too conservative in their lending that really have any bad debt i mean they're still going to have some but for the most part we're looking at stuff that is in default now if you look at north carolina we know that there's thousands of banks at london north carolina i'm sorry in uh oklahoma sorry i should say oklahoma okay not north of north carolina but 51 banks lyndon oklahoma out there they have i mean more than 51 51 banks have their offices their main offices are based out of oklahoma okay and we know there's thousands of banks in there but 51 call oklahoma their main home out of that those 51 banks of a combined 3. 3.4 billion dollars in 90 plus defaults across the board and an additional 1.5 billion on that cusp of turning into 90 days 30 to 89 day late so you're talking roughly 4.9 billion dollars of distressed stuff there if you look at that average of 3.4 divided by the 51 banks is 11.1 percent across the board average of a bank's portfolio's default that's pretty high compared to other places out there there is out of that 3.4 billion there's a basically a third of it 1.2 billion is a 90-day defaults in single-family residences so while the delinquent rate is lower in oklahoma compared to others these banks have stuff on their books whether it's in oklahoma or outside of oklahoma that's also going bad now if you look at the two biggest culprits mid first bank has 2.7 billion in distressed debt and out of that basically a third of it is just in the single family residence space uh b-o-k-f-n-a has 264 million total in distressed debt with 176 million being a single family so they're much more of a residential bank versus a commercial bank like midfirst is but you can still see there's opportunities there guys if you can step in buy this stuff at a discount and get creative with the borrowers and why would you want to buy distressed debt there's a variety of reasons now for those of you guys looking for deals if you're waiting to buy the real estate i had a phone call today with a realtor who's like oh i'm ready for the reo stuff i'm like you're gonna be waiting around for 12 to 24 months if you really want to start looking at getting into the deal flow you need to get in the debt game he's like well that's where all that stuff ends up so it starts off at i'll just wait i'm like well keep waiting because if i'm buying the debt at a big discount depending on the location the foreclosure time frame the values the condition what's going on in that market what's going on with asset class i can buy my ticket to success because the fact is i didn't originate it i'm just buying the nightmare and turning it into a dream of a deal because now i get really flexible with a borrower i can control the asset for a huge discount especially because i'm in it so cheap compare what was financed what the original value was provided i'm going to need to probably hold on to it for 12 to 24 to 36 months to get it come back close to where it used to be but still 50 of as is value is not 50 of arv or future values and you can do a variety of different uh strategies long range statement modification short sale payoffs foreclosures d lieu cash for keys you can take over the note and turn it into a cash flow or performing note or if you want to add it to your asset base by taking over the asset in the property you can do that and do what you want with it okay the other advantage of note investing this is one a big one for most real estate investors out there i know that people are tight on budgets they're tight on spending things and it often feels like you've got to spend a tremendous amount of money in marketing direct mail and other marketing to have any access to deals where people will call you well that's the beautiful thing ladies and gentlemen [Laughter] um we don't do any direct mail in the note business it's a waste of money we don't mail postcards or letters or go knock on doors we're dealing direct with the banks so we're using email we're using linkedin connect with asset managers and we're picking the phone and dialing for dollars and the beautiful thing is that one source one bank isn't going to be just one note it's gonna be regular deal flow on a regular basis every quarter in quartering quarter out month and month out not just one property now i gotta mail another thousand postcards and drop money on stuff that ninety-six percent of it i'm not gonna see anything on that's not the case with what we do in the no investing side you can get the list that you get the tapes that they're gonna send you you can share you pick the best deals for your own portfolio if you can buy in bulk one or two three or four you can get better pricing all right you can o residential commercial assets from the comfort your own home or office as long as you've got internet and a phone guess what you can do this and no you don't have to work 40 50 60 hours at this if you put in 10 hours a week into your marketing you'll find deals sent to you if you want to raise capital great if you're not you don't have capital yourself that's fine raise capital from other investors out there go fund these purchases and give them a great return on investment because let's face it to put a hundred grand in a bank to make point one percent or less or point oh one percent i'm sorry not ten percent but one percent is not a good thing and if you don't think there's an opportunity just look back to what happened 10 years ago we have a tremendous amount of opportunity and i think we also have we owe it to ourselves as investors as people to go out there not only make it good for us but also help make the country as i'd like to say make america great again when default to borrower at a time and you can do that are there investors out there by all means yes there are investors everywhere if you just take a snapshot of what's going on there's basically nine trillion dollars in retirement funds sitting out there basically not making anything and if you look at what's going on in oklahoma city alone not the whole county but okc there are 21 000 investors with an ira count in oklahoma city alone out of that 21 000 14 000 of them have at least 150 grand or more than their accounts hello how many people do you guys talk to to raise a million bucks not too many all right you need to know what to say what not to say okay maybe you're scared to raise capital oh my gosh how do i raise capital i've never done it before it's not that hard but let's just say you're not easy doing it you don't want to do that okay you want to just flip deals guess what there's 17 000 people in oklahoma city that call themselves real estate investors on their taxes they claim as real estate investors so plenty of opportunity for you to go find a deal and then either flip it to an investor or find an investor to fund your deal and take it down ladies and gentlemen the question i always ask for you guys is do you want to be the banker or the borrower in most of your cases all of you are the borrower you've got a mortgage you've got a car you've got car payments you've got student lumpings you're the bar you're paying money out you're on the wrong side of the note game it's time to get on the right side to start have payments coming into you on a regular basis and what you have to realize ladies and gentlemen is there is now a record amount of savings sitting in accounts out there as people are waiting for that rainy rainy day they don't want to invest in the stock market where it goes up and down and stuff like that they're looking for ways to invest it to make money in something tangible if you can pick up an asset at 30 40 50 cents on the dollar there's a lot of things you can do to make money out there and i'll tell you right now everybody the bank always wins so why not get on the winning team why not become the bank why not the same rights the bank does it's all up to you guys i'll do what you want to do so how do you tap in the tsunami of deal flow guys and gals it's not that hard i've been working with investors since 2010 teaching them how to tap into distressed debts whether it was residential commercial deals i've helped thousands of real estate investors purchase their first note whether it's a re-performing a performing a a non-performing a residential commercial notes it doesn't matter we've done it all okay and if you're looking for cash flow great if you're looking to grow your asset base great you can do that you can buy it on a one-off basis or in bulk basis now you're not probably going to call bank of america chaser city and buy on one off note so don't call me ask about that but there's plenty of other lending institutions out there that have stuff that they're on their books they're looking to get rid of banks you've never heard their name of that have stuff that they want to get rid of okay and you can do trades from 25 000 to 5 million bucks guys we have done a variety of them you don't need to have a million bucks you don't need a 5 million bucks unless you want to tap into some bigger stuff that's okay you don't need credit the bank doesn't care if you're in four bearings agreement your own house they're not looking at your credit fico scores they don't give a about that they don't care if there's that's where the music the money's coming from if you've got other people to fund the deal great when can you close okay you can start doing these deals without having to drop in five ten fifteen thousand dollars in direct mail marketing you could do this like i said email address the free linkedin account and your phone if you are just coachable and learn to say and what not to say when talking to these people and you don't have to do 40 hours a week with this you're not going to be spending you know hours and hours and hours each day doing this now there's some simple things you can do to start having deal flow sent to you immediately so whatever your focus is i've talked about before whether it is single family homes or apartments hotels retail office sell storage mobile home parks there are deals in every type of asset class out there everybody and you can truly create win-win scenarios not only for yourself but for the borrowers that are facing difficulties like the homeowners that are struggling to stay in their houses that have been laid off a worker don't know if the jobs are going to come back they're struggling they want to stay in their house and they just need something to help them out to give them some options maybe you're wanting to buy uh on the higher end or commercial side guess what there's plenty developers out there that have over developed properties and the banks don't want to carry that debt and willing to sell that debt at a big discount to make it a win-win maybe you're looking for cash flow maybe you're looking for apartments well i'll tell you what that smaller unit apartment 100 units or less it's going to be one of the most dramatically affected by coven it's not going to be the higher end stuff it's going to be the smaller unit number out there and you can find that stuff quite a bit on the different books that we're seeing already these days so like i said you would start off you do it big or do it small most investors will start off small because they're like oh i can only do so much with what i have that was what our buddy gene thought of when he we met him a couple years back he was doing deals in elkhart indiana where he lives basically doing a little bit of what he could afford what he would make off the other one and put the other ones we taught him the note business and fast forward a couple years he sends me a text message that he's closed on over 135 assets he's raised over 13 million dollars in private capital which he was scared to do at the beginning and he's made a whole difference in his retirement accounts is his retirement he's never going to retire he's always going to be doing something that's the kind of guy that gene is but definitely a whole different outlook on long-term real estate for him laura blunt done an amazing job she was like many real estate investors out there going to real estate clubs trying to wholesale trying to flip trying to do an option subject to deals whatever kind of tools she could find to work in that market she just recently moved to maryland from south uh south of austin into her dream house on the water she bought 15 deals in her first 18 months with us all right big chunk of that with other people's money and now she's getting ready to close on a trade of over 100 and 450 assets for four million dollars using other people's money and these are performing notes at roughly 50 percent of value it should be a life-changing trade for her and she's doing it or she never thought she could do something like that a few years ago keith collins ohio's done a tremendous job as well we taught him the note business he's got some real estate experience built treatment plans worked with cities i even think he was a mayor of a small ohio tenant at one point there was no business runs in his exact words because scott 2019 was an amazing year we made seven figures off of what you taught me and what everybody thought was a down market for notes it's not been a down market there is distressed debt everywhere ladies and gentlemen and you can be like keith gene or laura if you want to now you may be sitting there like well i'm kind of brand new real estate i don't know where to begin hey you know what you'd be like raphael here we all got to start big things all have small beginnings ladies and gentlemen and ralph is one of our students who has is a very small beginning but he's getting rock and roll and he's coachable now he's been a business he's been an entrepreneur i mean business owner with an entrepreneur he had 15 full-time employees in san diego at his car detailing business that he started from the ground up and i can tell you that it's been hit hard he's basically had to shut down and lay off his staff because nobody wants to get their car detailed if they're not driving it but luckily for rafael he started buying notes back in uh november december after taking our training we worked with him he merely bought two deals in the first two weeks of taking our training and then another three within the next 30 days and done a tremendous job he's like man scott i love this business i'm stressed out about my my ex employees they're all gonna find something i may not reopen again and i'm okay with that because i've learned a new trade learn something new that i can apply and i'm really looking forward to what 2020 has and opportunities for me and he's like many people all these guys get started learning the nuts and bolts basics from us and we're really proud of that we've helped educate a lot of people out there that i would say the who's who in the distressed nut space has come through our training and we're really proud of that fact because we have helped thousands and thousands and thousands of other real estate investors take their businesses to a whole new level by learning the note business and really capitalizing on what's available in the markets out there and we'd love for you guys to be a part of that as well too i said early on tonight that i want to have a thousand note investors help create a thousand of them to really do a lot of good damage to what's coming on the next 24 to 36 months and i'd love for you to be a part of it how do you tap into that how do you become a part of that well the first step is would be to sign up for our note weekend training this is a one day class that's online we do it via zoom you can watch it from the comfort your own home or office everybody and it's just an amazing amazing class it's yours truly teaching it uh it's live so you can ask questions back and forth and it's absolutely an awesome time like i said we usually host it uh it's online mini workshop you're not gonna learn everything about the note business in one day let alone like a three day workshop but you can learn definitely as our students call it the cliff notes version of note investing a lot of our past students have come back through oh my god this is a great refresher great great aspect of teaching the basics of no investing not talking over yet but literally sharing with you the do's and don'ts and what to expect and really how to tap into a lot of great deals out there we live streaming on saturday it is recorded i restream it on sunday so you've got the replay so if you miss out on something on saturday you can watch again uh normally it's 97 bucks we'll usually run from 9am to 5pm in the afternoon sometimes we'll go later sometimes we end a little bit earlier it's up to what each class is a little bit different because it is live and you have different people we may have 50 people on one we have 80 on one we have 10 on another one it is just varied and it's always very but you can if you go to noteweekend.com you can see the basic outline of the day there if you scroll down a little bit like i said normally 97 bucks if you go to noteweekend.com the next one's in just a few days for you guys to tap into to join in just kind of dip your toe in the water to see if not investing is something that you want to do now uh what do we cover in the whole class well you can see the schedule but if not go to noteween.com but the very first part of the day we talk about how and where to finance you'll walk out with a list of asset managers that you can reach out to that will show you how what kind of percentage of defaults they have what they have in their bookshelf can get rid of and a great way to know when to contact him and what not to say what to say what not to say when to contact and when not to contact him everybody we'll talk to you also second half of the day about how to fund these deals with other people's money we'll show you how to tap into local investors in and around you and how to get them excited about working with you we'll talk about the different exit strategies to make money because there's a variety of different ways to create win-win scenarios that really uh give you a bigger bang for your buck on the deal flow versus oh i'm not just gonna foreclose no no foreclosure is the last thing we want to do and i'll talk about why it's important to keep people in their houses and why it's the best way to return when it comes to time and money for you and your money we'll also talk about the vendors and the team members that you'll need there's over 10 hours of additional video links inside the training there for you guys to be able to watch at your own pace on our vendors and other things that are important to you with asset protection lines of credit servicing and vendors that you do need a team of vendors to help you out in this business because you're not going to be the one doing it all and that's a beautiful thing it actually works in your favor all right and we'll talk about that as well we spent a big time talking about also different loan trading platforms where to find deals today that you can look at residential and commercial deals and make offers without having to wait we'll also talk about a lot of other things like marketing i mentioned a little bit of asset protection some other stuff there for you but we cover a lot of stuff and like i said guys i would love for you to register today at noteweeknd.com you get the replays and you know what we'll throw in a few other bonuses for you guys that's not enough for you now no weekend training class like i said 90 uh normally 99.97 bucks we'll throw in a one-day training of call calling banks this is where you could just be a fly in the wall and listen and watch me call banks for roughly four to five hours you hear the conversations you see who i call you see i communicate connect with them you ask questions back and forth it's a beautiful training event that people really love because like oh it's not stressful to call banks oh you can knock out a bunch of phone calls in a couple hours you can dial for dollars and really have a lot of great connections that's normally 49 bucks by itself right the bauer financial list the most recent quarterly list we'll throw that in that's usually about 400 value that's a value and a loan to get that list a whole lot cheaper than you would expect all right then you add in that we'll also do a 30 minute phone call with you after the event to make sure you're on the right track i charge a thousand dollars per hour consulting half hour it's a 500 value i just want to make sure you're off and running in the right direction and really making impact with what you've learned from us we'll also throw in if you've got the replays uh if you've got a spouse or business partner that you want to attend we include that is in there as well we also throw in a very active facebook group with over 900 members to help you in your business with networking sharing deals resources vendors help you even raise capital or sell deals that's included there as well for you everybody but all together bonuses over a thousand dollars in bonus i think over fifteen hundred two thousand dollars in bonuses is what you value things but all this guys is just for 49 bucks we're dropping the price in half from 97 down to 49 or 99 down to 49 for you guys we wanted to be affordable for you we want you to take action and we want to treat uh train you in the basics there so that when we do have deals coming in we can send them to you we can have you take a look at the deals and then be able to evaluate them or say scott i like this one i want to buy that one great let's work together to make some great things happen so all that's included for 49 bucks you get signed up tonight everybody tomorrow you'll have a link with you with a replays to the last class replay to the last call and bank strength so you start learning now versus waiting for a week or so for our next class to get started and i'd love for you to be a part of this guys whatever your goal is to retire to spend more time with your spouse to put your kids through college to retire your parents to travel more to upgrade your toys your digs your crib whatever it is we all know it needs money and it's time instead of you being a borrower you being the bank because we know the bank wins everybody if you want to learn how to become the bank and learn how to buy billions of dollars in assets for pennies on the dollar then you need to show up to no weekend that's your first step everybody and like i said for 49 bucks you can get signed up tonight at note weekend.com so sign up now take advantage of the special pricing and the bonuses that we've thrown in and we'll see at the top everybody any questions out there for anybody i want to thank you for being a part of it tonight and uh we look forward to seeing you all our next note weekend workshop bye