Sign Arkansas Banking RFP Online

Industry sign banking arkansas rfp online

all right everybody hey welcome to day two of the note investing challenge we have a couple things we'll be talking about tonight one will definitely be using laneguy.com we'll go through that we'll walk out lane guide is a great tool for you and then we'll also spend time going through how to set up uh and market be email blasts and why email is one of the most important things you can do for your note business so really excited guys as always to have you all here tonight got a lot of great stuff we'll dive into but first let's dive into the first part here alrighty all right so using lane guide to find bank contacts this is the part of day two and when i started as a note investor back in 2008 it's hard to believe it goes back there uh lane guy had been around for years uh lingard's been around actually about 40 years and what lane guide is it is a tracking tool it's actually a guy out of vegas formerly now he's out of dallas richard lane he started basically service to track who and what bought which much banks so you could track banks by using linguine now linguid.com is just the automated version or the online version of the old manual that he used to have now lingai.com is something that i use on a weekly basis i will tell you right now blaneguy.laneguide.com is not 100 accurate it's like with anything else that you use the minute it gets updated especially the amount of changes in the secondary markets banks being bought and sold people coming and going it is not going to be 100 accurate but it is a great way as i say to proverbial prime that pump to build you a list relatively inexpensive that you can start marketing do you start reaching out to to start getting deals sent to you now lane guide is not uh not really expensive it's about 165 dollars a year that's one of the few things that we'll talk about through this 20 week period or 20 um 20 different topics on finding over the next couple weeks that you'll actually pay for it but who would not want to have a list of names phone numbers and emails or basically a rolodex where you could reach out to asset managers and try to find the right person involved or at least the right number i think we would all raise our hands and say yes they want to do it my question on here one for those that are joining us here anybody that's using lane guide right now or has used it in the past raise your hands here in the chat role for watching this on zoom i'm trying to keep track on the facebook group um trying to see what's going on here if it'll let me do it but actually it's showing us something to solve so i don't get what's going on here but anyway um so a couple people raise their hands which is good so let's see who raised their hands that we had mika's used it okay good anybody else used it here no all right uh laura blunt no surprise there laura i think you'll agree nico you probably agree that it's a pretty good tool it's not the best tool but it's a great tool to really help you get started and we're going to talk about not only using lingai but why we talk about it tonight is it really goes hand in hand with what we'll be talking about on the day two of the funding side here in a little bit all right so laneguy.com a really great tool i'm actually going to log into mine and kind of walk you through how we use it on a regular basis all right so blaine guy one of the greatest tools i think is out there um like i said it's pretty inexpensive let me log into this i don't get paid to promote it i'll just tell you that all right so let me share my screen here with you guys new share blank guide it is all right so leanguy.com here pretty awesome tools been around since 1957 and one of the most valuable things that you will find that you'll use the most is the search bar at the top of name search and then the search tool box on the left hand side okay now like i said lane guide is tracked who's bought who what bank i bought what what obviously came in very handy over a dozen years because they still track it okay now the one of the most important things that you can do and use is go over here to the search toolbox now you'll see a variety of things here on the left-hand side a lot of these are for the mortgage industry but you're not going to be using okay but the most important thing and i only say this i want to clarify this very first part which is reo asset manager now yes i've said before that you're not going to be targeting reos but what lane guy does is they actually lump note and reo asset managers in kind of the same bundle now the beautiful thing about this is it allows for you to really pull a list of residential and commercial stuff asset managers in the states that you like to invest with and literally if you pull the top eight to 12 states or that's what i pulled you're gonna pull somewhere between four and five states probably starting off with or two to three but it's gonna give you people that are lending in that state and a lot of good contacts to reach out now if the names are wrong or the numbers are wrong guess what you've got a warm name and a warm number to reach out to other people at that bank via linkedin other things like we talked a little bit about last night who does the those of you two who on took a little bit of action started doing some stuff on your linkedin profile great to get some connections make sure you're posting in the group as well your linkedin profile uh into the the thread we have going in the facebook group but anyway you have the ross major search we'll spend some time on there advanced lender name performance dashboard we'll be do aria portfolio analyzer lender trustee look up not really that big verification deposit you're not going to really use that that much mortgage-backed fund service services we'll look a little bit of that wholesale program search lender tray successor history that kind of pops in uh findwritingnumbers.com you're not really going to use that industry track trends that we're going to use lending type search you will use that okay primary classical cases search okay a reverse search maybe a little bit in the lake and got home i would go to lane guide home and use it you have a lot of yes no buyers that use it um and what's great is it gives you some tracking on some different things okay it gives you some definitely some tracking on what a bank's portfolio have based off of last year they have an update or maybe they haven't updated the quarters yet for this year but anyway so let's just look at the reo asset measures let's go straight to the most useful tool this is worth just the 165 a year this is it worth right here okay click on reo asset manager search you pick up the reo property type let's just say residential notes you need a residential commercial and you're gonna pick a state we'll just say texas okay let's go down here to tejas statewide yep county show primary department here's where you're going to change you're not going to want to look at reo and asset manager this is where you want to change this to the special assets department last night we talked about searching for special asset managers on linkedin so you click on there company type you can change this to banks mortgage lenders credit unions asset management companies government agencies loan servicers or finance companies here's the best thing just click on the banks okay just click on banks all right and we'll hit the search it'll take a second here and now lo and behold see what's going on here see i'm just trying to comment to people here try again all right so now you have a list of people that are supposedly landing in texas of banks and you can see here it's a pretty good sized list all right boom look at all that basically from a to z now or a to w wells fargo now some of these banks you're not going to deal with but i can't you see academy bank kansas city missouri mr dixon and a toll-free number to call him now what's great is you start looking at some of these like affiliated bank out of bedford texas gary graham affiliated bank all right and an email g graham affiliated bank.com all right yay and a phone number all right eight one seven five eight nine o five four four uh you can also see they've got a website a lender trick we look at that stuff aria commercial bank tells you the amount of total assets out there now some of these numbers i would not trust the us reo stuff we're not really worried about that the idea here more than anything else is just to create the list all right now the thing that's the one thing about playing guide that i dislike is it doesn't allow you to like download this okay what you have to do is basically copy it all over and drop it into a wordpad doc or an excel spreadsheet and then a lot of these cells are unmerged so i would spend some time with the va or spend some time if you're really bored all right i'm just gonna go over here to an excel spreadsheet the blank one and what takes it in and i'm going to share it here in just a second so you can see what it looks like you see not a very fun thing okay yes dave you hit the nail right on the head there but dave asked wonder if you could hire someone from fiverr or something to scrape the data from this yes that's what i would do if i were you go to fiverr go to yeah pay 10 pay 15 bucks send this list over do this for you don't give them your login but log in here and have them scrape it for because that's what you'd be basically each basically lender is about six to seven cells some are merged takes a little bit of a while but yeah pay somebody on fiverr to go here because now you've got a bank name city state don't need their license number contact name contact email and guess what the contact phone number which is great so you've got a phone or an email and a name and if those are wrong guess what that's okay find out who the new person is now he said i used to work with great mr dixon on special assets so this is a beautiful thing now if i just doing that we say each one's roughly seven let's see how many how big this spreadsheet is so right now it's down to 524 so basically if i take six it's six sales basically it's about 90 oh what is that 100 would be 600 so 80 86 87 banks right there with texas now that's great boom that's pretty good for just texas now what i would i do next i would go back all right i would go back to lane guide and pull a second state so i would look at your top three top five top six states all right and that's what i would do i would go back and forth and play your top six states and do exactly like we just did on lingard all right and do it for the next one so we did texas all right that's great you know you're gonna have some crossover and that's okay that's why you have a but i would pull these lists send them all put them on one spreadsheet and then send it all over to your guy your virtual assistant fiverr to scrub it for you now we did texas we're gonna look at let's just say my next favorite state which it says ohio okay statewide primary is a special assets department i would not waste time doing like um oh i wouldn't do credit unions i would just stick to banks okay and hit search um get a second so now you see cadmium bank is right up on there but now you've got some different people well just back you know this fidelity synovius bank which is not to be on there more than trust companies so you see you get a whole another bit of list you get some crossover but you get some new banks that weren't on the first list and that is the beautiful thing i love about lane got is literally you could pull in less than five minutes once you get logged on by going to the reo asset manager search and doing a search there by state you can literally pull some great stuff for you uh brad asks a good question why not credit unions we just don't see a lot of loans with credit unions brad they're just not going to be holding on to a big purpose spend your time with the banks you might jump on and do some servicing companies let's actually let's look at servicing companies i haven't pulled that in a while so let's click on reo asset manager let's look at texas again statewide special assets department and then let's look at loan servicers and hit search so it pops up there so you got basically two servicers that's not accurate because there's a lot more servicers in texas than just three all right we'll talk about a little bit about that last tomorrow night on some ways we can look on uh licensing websites to find bankers mortgage bankers and companies are doing business in texas or other states out there okay so that's what i would stick to i stick to the banks wouldn't really spend your time on the credit unions they're not gonna have a big portfolio credit unions aren't usually doing a lot of mortgages to begin with anyway but lane guys is a great thing now here's another tool that i love is this name search up here okay the very top when you log in let's say you're looking for a particular bank maybe you see on a foreclosure list a bank that's got five or six maybe it's not like bank of america it's got a smaller bank name that pops up so let's just type in someone to give me a bank name so maybe share something in the chat role the specific bank not the bigger bank bank of america chase citibank none of those but give me a bank something that you guys might be big enough but may not recognize it maybe just in your stay i can pick one all right first one here is suntrust donald ellington okay son it trusts we'll back the sun trust okay central bank all right so when we type in suntrust you see what happens okay all the names for suntrust okay sundress capital markets okay that might be a good one to look at bb t bank branch suntrust bank charlotte north carolina now what you have down at the bottom down here you have all these others that have used suntrust but they've been sold at some sort of bank okay now you have suntrust uh capital markets this is a bigger truce bank needs to change their name i guess okay so what we i like to do is look at the bigger banks so suntrust mortgage out of richmond virginia or truest bank or you could type in suntrust bank here in charlotte north carolina so let's click on that one okay see also known as bb t ak also known as suntrust bank also known as bench banking and trust because truce bank has merged those okay bb t suntrust and branch banking and trust those basically votes now you've got suntrust loan disservicing tr suntrust mortgage loan service susquehanna loan services department loan servicing department suntrust special assets that's what we're looking for right there we're not looking for loan servicing remember we're looking for the special assets department the secondary marketing the whole loan trading desk or the chief credit risk officer's desk and we talked about that yesterday it's the same thing here so sun trust special assets department let's click on there it's out of atlanta all right now you have a direct phone number that goes to five 404 eight seventy one twenty two now that may be working may not a lot of times we'll see a different name so we had somebody else at fifth third it was steven and that's our first first let's click through it pops up let's tell it right there all right third bank major bank here you see the major bank is the house the cars stuff like that so let's click fifth third bank wholesale mortgage the third bank fifth third real estate capital market some might be checking out that's probably their audio department the third savings bank or fifth third bank i would click on this one here that's the major one with the star all right mortgage loan servicing department you're not gonna call them the buy notes northern region consumer loan not gonna call them real estate loan servicing not going to call them sba lost mitt no foreclosure reo department no uh commercial reo department now these are the reos so they're not going to be the department to call about buying it so in this case even though they don't have a special assets department i would call them the main office call the main office and try to track down somebody in special assets or secondary marketing okay not every bank is going to have show their special assets department on it which i wish they did that would be so easy all right now over the left-hand side here the bank you can see kind of profile information and performance dashboard if you click on the performance dashboard i'm not sure when this is so you haven't updated it for uh the fourth quarter yet but you see what's nice based on the q3 of last year they had 33 million reo 140 million in delinquents and another um third oh sorry is that yeah another 39 roughly billion that a b has to be in other real estate loans out there i know yeah but there you can see so you can see that that's a little bit older performance history stuff like that it's kind of nice now if somebody else is another bank let's talk like here let me show you an example of another one sometimes you come across like bank of the west is one that i use we are familiar with them but the example of showing what you might see it's the bank of the west side of san francisco i'm going to click here on my license number you take me to their profile same thing you see the reo loan service center the consumer loan servicing department the special assets department right there okay but if you keep scrolling down corporate headquarters and those of you that are looking for commercial notes guess what commercial special assets department now notice number 949-622-6024-6024 if we go up here it's a different phone number now it's nice the special assets department you click on here more contact details martha.torres bankofthewest.com you have an email and obviously a direct name which is nice okay if we go back to the commercial it should be dana it was dana.white originally at least worked for him i think she has moved on or got married because her name is changed where is it here commercial area more contact details and you see dana.white at bank of the west miss dana white yep sure she got married in a name but anyway still names that you can drop even if dana white's moved on and martha torres has moved on they worked next door to each other basically we found out from talking with them that's a great way to add them to a list that you can reach out to on a regular basis to start the process of reaching out to asset managers now here's the big thing i know many of you don't want a doll for dollars that's okay we'll talk about that later on but many of you still can pull a list and can upload them to an email or send an individual email to them or reach out to them go see if they're over on linkedin and connect with them on linkedin and send them an invite there like we did a little bit yesterday okay so that's one of the great things that i think will get you started get you in that familiar area you can do this part-time you can do this after hours on the weekend as long as you've got power you can do this and it's one of the easiest things to do now he pulled a list of arizona california texas florida uh illinois you pulled in the top like five or six states out there guess what you're gonna find a lot of stuff i don't know if you looked at there was an article that came out on bs news just recently talking about the states that have the most amount of distressed debt and the two b's beaumont texas had the most number of uh largest ratio of defaults and foreclosures in birmingham alabama so if i was an investor diving into the area that's where i go i would look at texas i would look at birmingham uh i would look at like four or five states that they said there was an increase in look in those particular counties but that's the nice thing now you can also do another thing that you do a little bit more generic here some people will do this when i first started out i was dialing for dollars i would pull a list and just dial for dollars yes i would pull the special asset managers list and i'm gonna tell you right now you pull that list there's probably gonna be emails that are bad as people moved on so when you send stuff out it's okay if they bounce it works a little bit better in your favor because if you take the time to find the next person or now if it did bounce you now know the setup of that person's email dana.white right if you say john smith at bank of the west you can probably say john.smith at bankofthewest.com if he's the vice president of special assets or secondary marketing that you find on linkedin now for those of you that are going to be targeting specific states in our specific asset classes you can do a lending type search here okay one things we use so we can clean type search we pick the state let's just say florida okay florida okay leonard is known to lend in the state or lenders with offices in the state i always say lender is known to lend in the state because they'll give you a bigger number okay now pick the category maybe you want to do auto loans you're not going to do auto loans but let's say residential one to four and then you can say residential subprime residential construction i would say residential subprime okay click on that the lending method retailer wholesale i would do either okay what does that mean lending wholesale uh there's a basically they're taking mortgage brokers from across the country and they're doing loans retail means it's like a full bank branch you got to go into a realtail branch you don't want do either it's fine now what you want to do is lending genre you want to change it you don't want to be independent lenders you want to be regulated entities here and hit search now guess what you'll find drumroll as it's pulling the list there you go now you have a huge list of banks lending in that state all right some big banks for small banks like you see like uh where is it co america coastal bay marshall's gonna be small okay citibank all right yeah city bank is a big thing right we just look on you know you see the credit union this puts banks and credit unions in there let's just click on central bank here in florida right and they have one branch office in one state you see they don't really give you an opportunity to filter by bank size but now you get the main contact information and you'll be ready to rock and roll now you can also see look at their performance dashboard from last year and you can see they had only 60 000 reos q3 and other real estate loans 155 million so not really non-performance why those smaller banks are harder to buy notes from you and look at bigger banks all right so let's go back to our list and this is what i used to do i would literally pull a list like this and i would just print it out i'd get rid of my computer and i would dial for dollars on my sheets of paper and make notes and i would get transferred a lot okay anthony asked the question would you be using the same process for finding performing notes yeah anthony you could ask i'm looking for buying to buy your non-performing notes and also if you've got any performing notes for sale most banks aren't going to sell their performance you might find performing notes in some of your hedge funds and things like that which we'll cover later on but um you could find it more so on performing notes you'll probably find that for connecting other note investors on linkedin like we talked a little about yesterday all right so yeah you could use this if you're looking for performing notes not performing the thing about performing notes from banks especially right now you might see some scratch and dent loans snd they call it okay scratching debt loans are loans they've originated that might be missing a signature or the borrower's credit score changed after closing before it got sold or you know they were late the first month and then they had to basically you know the lender to buy it back from the parent bank you have to be careful about buying performance because they'll send you performance but with low interest rates right now at two to three percent it's it's gonna be harder for you to make any money on a performing note and they're not gonna take a fifty percent discount on performing on anthony does that make sense for you so uh i would necessarily use this strategy for performing this i would work with other note investors to find performance i mean you could do this you may find something um but it's be much more effective on the non-performing side of the ball game okay now one other thing here we talk a little about commercial notes let's talk about landing type search for commercial okay um types let's just say once again let's say florida and let's change it let's yeah lenders known to land the state and we'll change it to commercial commercial real estate and let's go down here commercial reverse we don't need that equipment financing no commercial construction that'll work fine retailer wholesale either and then let's say regulated into either banks exactly hit search to pull up a pretty good list for you as well there you go first manatee bank you've got a big list there as well a lot of the same names up there okay century bank let's just look at that one tampa save the main office there one bank in one state so that's how i use lean guide i like using this the reo asset manager search to pull a list of asset managers to call out and start you know my email blast and start my my down for dollars off of that that's the low hanging fruit there for you to find some stuff have they been called something's been called but honestly not many people are dying for dollars a lot of people put them in emails and reach out to it but they won't follow up and the key to this more than anything else it's kind of what we're going to talk about here in part two the funding side of things because just as important to the follow-up marketing yes i would reach out to him on linkedin yes i would reach out to him via phone call email linkedin and rinse and repeat 80 of sales can come into the fifth contact if you just call a bank once and that's it they're not gonna follow back up with you they want to deal with those that follow up on a regular basis if you've ever called an ass manager just once and then never fall back up shame on you guess what we've all done it before you know how you solve that pick up the phone and call them again all right but lane guy like i said 165 bucks it's it's well worth it uh i know some people have used you know they've split the you know they went splitsies 80 bucks 80 bucks and i used it they have one log in but it's well worth it to kind of dive into it and use those things the name search all right i use the name search quite often uh for specific banks if i see foreclosure lists and banks are foreclosed and i don't recognize the name i'll jump on there and see how big they are lending type search and then the reo asset manager search there for you so questions about this that's really what you're going to use lane guide for more than anything else is to go to reo asset major pull a list put in a spreadsheet scrub it put it in a clean name email phone number bank city state and be rocking and rolling that one of the things that we did a couple years back actually i think about two years ago three years ago because we did a banking blitzkrieg we called it and what we did is we had 25 of our mastermind members our coaching students and what we did over a four-week period or really a month-long period is we gave people lists of banks notes we would pull a list for georgia police to florida and give people 50 to 100 banks to call and then we get a new list every week if they just provide their calling list now if they stopped and didn't do it then they don't get the whole list but they stuck around to the very end they would get the list of contacts all combined now out of those phone calls we ended up with over 1500 direct emails and then roughly about 3 500 names and phone numbers of people out there and a big chunk of linkedin profiling so it's been a very very powerful tool it may be time to refresh that and do that again here in the near future but anyway lane guide a valuable tool yes you're gonna spend a little bit of money on marketing this is one valuable source for you to find that marketing tool that works well for what you're doing so questions comments concerns on using lane guide before we move on to our next lesson you don't need the disk version just get the online version if you're gonna order it just get the online version it's the easiest way to do it okay david asked a question so when searching for notes the official name to search for is special assets but not reo okay here's the thing about lane guide lane guide lumps nopes and reo asset managers into one search engine on here okay so david you're going to use the the search engine here on the side the reo asset manager yes some of those names are important listen be reo asset managers are gonna be notes they just they don't separate it off they lump it all together so if you're using lane guide yes you're gonna do the reo asset manager search but you're not looking for reos we're looking for notes but this is how that lane guide does it just for this one thing okay terry asks a good question how does this compare to the fdic website or even distress pro i'll throw that in here this this this is just tracking who buys who and phone numbers it's not going to give you a percentage of the fdic website fdic website that's looking at specific banks quarterly filings and things like that this is more who bought who this is basically like the rolodex for banks for you okay fdic website's not going to give you a lot of the internal numbers they're going to give you the quarterly reports and what they have on file what they're filing for the quarter but they're not going to give you all the internal numbers and who got bought by who and other search stuff like this does here okay that makes sense for you terry good question david does that make sense now for you this is the one weird thing that you're gonna embrace reo's i mean it's the one thing that aggravates me that he wouldn't split it up but you know for 165 a year he's not making a lot of money from everybody on this and it's it's a valuable tool to use that you know going forward all right screened by tankers guy too i reached out to him a while back so listen i'm willing to send you the updated emails and stuff like that she'll cut me in for a piece of your membership you don't want to do anything like ah i'm like okay never mind [Music] yes david when so when somebody talks about reos they mean actual real estate owned that's what reo stands for an reo stands for real estate owned that means a bank is already foreclosed and taken the property back there's no note attached to it anymore okay we're looking for notes now if you're looking for reos and that's one of the things that you want to do you want to deal with a note wrap this would be a great way for you to use it as well too for you okay as i said before this is a great the tools that we'll go through you can use to help you find deals most of them are being geared toward notes but a lot of them the side product of notes is guess what foreclosures reos real estate you know bank foreclosures those are reo's therefore it's a side product of what we do and what we see there's oftentimes we'll get lists of reo sent to us that come from a bank or no investor or if i'm bidding on a note and the bank has already done most of the heavy lifting they're taking a foreclosure they don't sell the foreclosure option they'll often accept my bid on the note as a bid to buy the the reo after they've gone through the auction so that's kind of a a win-win there for you okay any other questions before we move on to the next part of what we're talking about tonight no david you're missing the point here once they foreclosed they're gonna sell their reo off it's there's no note attached to it the note they've already foreclosed and wiped out they're not gonna own or finance a property they're gonna list it with a realtor on the mls and let them sell it off there's not gonna be another note to buy that property back okay all right moving on if you have a question david better yet drop me an email we can talk about it offline there for you okay all right you