Sign Kansas Banking Moving Checklist Mobile

Industry sign banking kansas living will fast

all right everybody welcome to our note nation top 40 tour as we focus on the kansas city uh market out here everybody not just kansas city we're both on the kansas city missouri in the kansas city kansas part of aspect i things so we actually focused on two states tonight and the city that uh hooks them both together for you but welcome to the note nation tour everybody we are honored this is our 26 out of 40 city uh we're roughly about a third of the way less we've got a variety of local and national investors that are investing in kansas city uh not only there locally but people from across the country out there you can always check out the replays for all the markets and the upcoming cities that we have left on the tour by going to notenationtop40.com as well uh we'll be discussing statistics and the numbers in the kansas city market we'll talk about what the second half of outlook looks like for everybody out there along with future opportunities and how to tap into them and where to look for them so i will also talk about how to get started as well for you so a lot of guys and gals if you don't know who i am scott carson i'm the uh active been an active real estate investor since 2002. uh over 16 years and the mortgage and debt markets out there purchased over a half a billion dollars in debt uh i'm the ceo of weclosednotes.com where you can check out our home site where you can check out all the you know podcasts we have the education and the other classes that we do i've been teaching investors since 2004 how to tap into real estate and i'm the host of the nutcracker show podcast which is uh syndicated across the country with millions of listeners each month out there but i invest all across the country even though i live in austin texas and kansas city is one of those markets that i invested so our mission has always been to help investors accomplish their goals and dreams and increase their wealth through debt investing and people ask me all the time scott why are you going to take time to be sitting here at home working through 40 different markets and i tell people this because i love to help investors i think there's a big opportunity and if you take action now you're going to be sitting a whole lot better off in the near future because of the different opportunities that are available i do love to help people solve problems whether it's investors or it's borrowers that are struggling to survive i do believe this is the opportunity and i was also i'm empathetic with the bars out there because i was once a distressed borrower as well going back to 2000 when we bought our first house year later i was struggling to get by because of a couple things being laid off and other things so i empathize with the ball or obviously i'm not in that now but there's a lot of good that can come from helping people out there and there's nothing greater if you're in an individual who's looking to help people helping someone overcome an obstacle or achieve a goal dream that they once thought was impossible keep this in mind everybody there's a lot of people struggling that their dream of home ownership or owning a business is struggling now okay it's not a good thing their dreams have turned into nightmare and it's up to us as investors and people look out there to really be able to flip that switch and turn it back into the dream and i've set a big goal for myself and my company help over a thousand real estate investors in the next 12 months really do some good out there so where are the opportunities everybody asks me this all the time well scott where should i be looking and i tell them everywhere all right there are opportunities literally everywhere if you know what to look at i don't care what class of asset you're looking at whether you're looking for self storage or apartments those are the two hottest things if you're looking for single family homes that's always going to drive the market maybe you're looking for mobile home parks or parking stores or maybe you're looking for office buildings they're in default maybe you're looking for hotels motels right now because you want to add that to your aspect i don't care what the what you're looking for they're everywhere and the beautiful thing about this opportunity that's right now guys and gals don't care what your credit scores are we don't care how old you are don't carry your if you're seasoned or brand new at it okay don't care if you've been a successful business owner or a failed business owner there is an opportunity right now like there was a decade ago 12 years ago to do some good okay and i don't care whatever your long-term goal is or even a short-term goal for a lot of us out there look there's a lot of opportunity if you're struggling and you don't think you can make it look now is it time to do something something different now is the time when everybody's running in one direction you run towards it if there's blood in the water that's there's a lot of blood in the water right now you can do a lot of good so like i said what your goal is maybe it's sitting on the beach drinking pina coladas in retirement maybe it's spending more time with your spouse or retiring your spouse maybe it's paying for your kids college education maybe it's retiring your mom or your dad that they've worked so hard maybe it's traveling more with your friends or family to see exotic places or maybe you just want to upgrade your crib maybe you need to get your own house or upgrade your toys i don't care whatever your goal is i'm glad that you have it because i think it's important but there's one thing you need money to do all these things and that's great okay it doesn't have to be your own money and like i said before don't care what your credit score is don't care if you have capital or you don't have capital now is an opportunity because there are so many deals and there's a even bigger wave tidal wave end of the world kind of wave rolling towards us here at pretty fast space that you need to be prepared of if you're a real estate investor you want to tap into that now what do the national numbers say national numbers say that obviously it's getting ugly out there we're at currently 11 unemployment rate through june july's numbers haven't come out yet across the board uh 40 million plus people collected unemployment we've got a 52 percent of small businesses are expected to fail that number's supposed to get worse as time goes on uh the big thing is that there were ten percent of homeowners that were already struggling to stay current we're already 30 days behind before this ever happened yes there were already 10 of homeowners were already a month late okay now right now with a 7.76 national mortgage delinquency rate that means one every basically 12 borrowers is 90 days or greater behind on their mortgage they're in delinquency not just behind they are delinquent okay and that number is going to get worse currently at number equates to roughly about 4.1 million americans currently in default out there and if you think about what happened 12 years ago it took us 18 months from 2008 to the middle of 2009 first to hit that 1.6 million default mark okay we've already two and a half times that in just six months or less okay so do i think it's going to be as bad as it was 10 10 10 to 12 years ago it's going to get pretty close with a lot of variety of things it's just early nuts all types of loans are defaulting non-prime which is the subprime loans prime loans a paper re-performing loans all had delinquencies over the last few months okay lenders are literally bracing for us to see up to 15 million mortgage defaults across the country it's it's 2008 9 and 10 all over again but the commercial markets are going to be hit just as hard if not hit faster because they're not being bailed out by the forbearance agreements and the fannie mae's and the government bailouts everybody okay now looking at the housing hardship index this is one thing that a company does by looking at the state in each state's individual unemployment default rates and kind of ranking them on a state-by-state basis pretty easy to see now kansas and missouri two states in there that aren't the darkest but they're also not the lightest but they rank pretty close to each other now kansas ranks uh has 7.5 unemployment rate so it's better than the national average the delinquency rate is also better 6.9 and it ranks roughly 37 out of 50 nationally not bad okay not bad at all yay for kansas and you look at missouri missouri's ranks has a little bit worse unemployment 7.9 percent and then the delinquency rate is better actually 6.17 so you've got a little bit above uh that puts missouri to ranking of 39th nationally so it's actually a better spot for you know housing than compared to can't stop much but still it's going to be on that side of the ball versus being in the dark blue okay now the thing to keep in mind here guys is you start looking at the unemployment rates kansas like i said 7.5 percent missouri is 7.9 okay kansas city falls in there at 7.8 roughly a blended average between the two seven point eight percent for kansas city missouri for the whole city kansas city kansas and missouri they're 7.8 percent you can see peaked in april at 11.3 dropped down to 10.8 we saw a sizable about 20 improvement from may to june july's numbers are not yet but i would be willing to bet it's probably still going to be somewhere in a 7 range maybe 6.9 it's hard to say i don't think it would have spiked but i could be wrong who knows what's going on in this crazy country right now okay now looking at the kansas city real estate market especially foreclosures basically before this all happened uh kansas city was basically one in every forty four hundred homes with the worst zips being the two two four seven and the two five three three i'm sorry the six four one two nine zip code with one in every twenty two hundred homes and then six four one one three zip code with one in every twenty five hundred homes in foreclosure now the biggest price point on the foreclosure is that 200 grand or less market from predominantly a lot it's like a double uh double average of a hundred thousand dollars of below homes okay usually the older parts of town uh built 1950 or older you see a lot of that stuff out there you can see the auctions obviously month over month in june quite a bit more than may bank owns were increased a little bit compared over uh the last month there for you you can see that the numbers you know really to spike for bank owned in february compared to others but it really bottomed out along with the auctions as well because the fact is hey things have been delayed for a while now they did go up a little bit over a month in june versus may but that's because they were at zero okay nowhere to go but up you look at the number four closures you can see spike there in february and then obviously drop down starting to climb back up a little bit now uh the thing about kansas city is is on par especially in jackson county and missouri the national average i've probably seen about 0.01 of national foreclosure foreclosures across the board okay right on par not higher not less it's right across the board now we did see nationally a big increase uh 50 increase in defaults between uh may and june up there um over 50 over the past two months you know we currently see 7.76 percent default right there we've seen 4.1 people that are 30 days or more behind there's another four million in defaults they're also saying out there for you so you've seen them see roughly here in the next 90 days or less total about 8 million homes in default now if you look at what kansas and missouri have done to kind of help stop that growth this is a heat map and the color coordination has been different from missouri than it has been kansas and what the the governments are doing for the borrowers to avoid eviction void foreclosures or renters to avoid evictions in the dark green are states that stopped it all across the board the light green like what uh kansas said had some local moratoriums or state where evictions have resumed and the tan where missouri is basically the governor said it's business back to normal everybody now kansas basically uh eviction foreclosure may first send the order through uh may 26th they are back to foreclosure now in kansas missouri uh having immigrant any policies for evictions to stop that out there so you know it's not quite back to normal what it was before you do have some people worried about that missouri's quite a bit ahead of kansas as far as the percentage of where foreclosures were before everything this is as of june sorry july 11th numbers um all in all we are going to see dominoes fall from the coronavirus people being laid off job loss of foreclosures increasing it's just going to vary on how soon and where some states are going to push things out quite a bit others are like hey let's get back to normal now it's going to vary a lot in what you see as far as the type of loans that were financed is what we're going to see predominantly in the foreclosure market a big chunk of it is going to be your government fha loans they're at almost a 10 default rate across the board the fha loan uh person takes an fh alone is a first time home buyer not a lot of money put down if putting anything down you usually gotta put three and a half percent down but a lot of the government programs out there has banks literally donating the down payment and paying like 10 grand in closing costs for a first-time homebuyer bank of america big big contributor to that uh traditional loans here all conventional ones 3.16 your va is the next highest at 4.65 and the rest of the loans at 4.36 so you expect to see some a lot of that 200 value home or less be the ones that have the most amount of foreclosure you're going to see some uptick in the higher end stuff but for the most part it's going to be the first time home buyer now a lot of them are going into the modifications or forbearance agreements we see we still see roughly about 4.6 million americans somewhere in that number a number of fluctuates of those that are in forbearance agreements now some of the some of the experts say there's probably some another three to four million borrowers out there that haven't reached out to do a forbearance agreement that would qualify one but they just not contacted their bank yet now is this good news or bad news for you guys for us well kansas and missouri both have lower defaults versus the national library that's a good thing same thing with the unemployment rate okay uh kansas does have a longer foreclosure time frame because it is a judicial state missouri has a shorter timeframe because it's non-judicial state kansas city for a traditional fha loan forecloses about 450 days from start to finish missouri is roughly the same amount for non-judicial fha foreclosures they've got their process of going through some things now when you look at the huge backlog of forbearance agreements it's going to delay things across the board you're going to see foreclosures and reo's but it's going to be a while before those hit the market and everybody tells me 12 to 18 months because they're going to drag things out the banks especially the big amount of loans out there that are struggling the banks have got had six months they've given people six months to basically okay get back on your feet the government is willing to give another six months of government-backed loan so that's a year uh the first six months the banks are gonna be able to look at their portfolio and see who's been paying who's been not paying and then move that assets off to somebody else now what about commercial debt commercials been hit hard as well i think we can all agree to that all right we see rents all over the place buildings are boarded up people are not working people are working from home businesses are going out of business retail struggling companies are telling people just stay the hell home and work from there there's no reason for you to come to the office we can do everything from there you know people aren't going out they're buying online okay amazon's having a record year okay but commercials has be n overvalued for quite a while i've been saying this for the last two years and obviously it's changed you look at the asset classes being hit the hardest lodging hotels people are traveling obviously over 27 percent default right across the border as of june retails over 15 percent now um other classes like restaurants mixed uses also struggling out there it's it's not a good time for commercial banks or commercial property because it's a lot of people now those that are back to normal great but other places across the country struggling now you look at the different markets across the country you know chicago's got 2 billion in bad debt from the cmbs side dallas just under a billion phoenix under a billion there's a lot of stuff out there that's being hit hard now they're saying um especially the kansas city the development that's taking place has been delayed they don't know if it's going to be finished out there they're going to continue to push the next year uh it's really affecting the kansas city hotel and convention industry hugely amount down 60 70 than what they expect to do things out there you look at the sheraton hotel and crescent will typically close this is a couple of weeks old but they're basically the number i want you to look at here is that they're currently about 300 million outstanding balances commercial mortgage-backed security loans between several kansas city hotels okay it's a big amount that's just from the cmbs side that's not talking about what's on the books with the different banks out there cmbs backed security loan is different than bank of america chase financing debt okay so let's talk about some of those default numbers one in four hotel loans are in default that's not difficult to understand one in five retail loans are in default not late default that's not hard to believe they expect malls half the malls to fail if not ever come back office vacancy is set to increase of roughly 20 percent close or close to that by the end of the year uh vacancies are going to increase by another 15 or to be at that 15 rate on retail and restaurant space by year end if not already there rents are expected to fall 10 or more by year end and increase that de decline moving into 2021 okay now we talked about the cmbs guys yes there's a lot of those guys out there that finance this stuff and it's not the same as it was 12 years ago in 2007 eight 64 basically two thirds of every all the loans out there on the commercial side were financed by wall street this time around the banks though your traditional banks have come in and financed 53 percent of the distressed loans okay now they're not lending at 100 or 95 on loans like single family homes they're financing at 63 to 70 percent for the most part they're in at a better spot but here's the kicker everybody if a bank finances a loan let's just say 70 ltv and you've got a 20 reduction in rents 10 increase in vacancy your value on that property based on the net operating income and the cap rate is gonna tighten up so bank may no longer be at sixty percent they may be at eighty percent they may not be at seventy percent they may be at 85 percent because the values drop them having six months to look at things and be able to work with bars they're gonna look at their naughty the people that can't pay or aren't paying and they're nice list especially the commercial side the nicest would be people who have cash reserves that can come in and write down that loan by paying that loan down but the do you really think a lot of people have a lot of huge reserves to pay down their loans to get it back to that 69 67 63 hell no so that leaves an opportunity for us to come in to buy debt to take over some of these assets at huge discounts and work it out in some sort of fashion and what they say to do hey providing capital buyouts from the bad loans or work with current bars to try to reposition the property and find anyways and reposition the property there'd be a lot of that we'll talk about that in a second but literally they expect banks stand to lose roughly 48 billion or more on commercial real estate loans that's not just the cmbs guys that's the banks we're talking the cmbs guys lost 50 billion dollars in market value in march okay that's one side the banks are gonna on the hook for just as much if not more when you look at what they're getting him with not just the commercial side but also the residential side bank of america is gonna be one of the biggest guys that would be to take the big assist they just announced a few days ago they're expecting uh to see about a 5.1 billion dollar loss based on the salary loans their shares are dropping and oftentimes bank of america is kind of the bell cow when it comes to the residential loan business when it comes to banks they've been very aggressive on providing loans well that aggressiveness aggressiveness is going to bite them in the butt as well so where are the opportunities is it going to be in the foreclosures in arias market not for a while no offense not for a while 12 to 24 months okay is it gonna be in the fix and flips no it's not gonna be in that a if you're waiting for discounted properties you're gonna have to wait a while plus a lot of the hard money lenders or the mezzanine financers have dried up and the banks aren't as willing to finance or refinance out fixing flips as well too for you is it in the rental market no it's not the rental market i don't think i want to be in the rental market i'd be a really tired landlord at toilet tennis and trash outs right now especially if they're not paying you and you've got to evict all right not a good time the real opportunity lies literally in the debt game by meaning by the debt game everybody that means buying debt at substantial discounts and then working with the tenants the borrowers of some sort to do some good out there and we expect to see some residential notes hit the fourth quarter notes not reo's notes in the fourth quarter this year because now the bank has had six months from march to september on the government loans to see who's on the naughty or nice list who's paying okay we'll keep the who's not paying who's gonna struggle to pay let's get rid of those and you're gonna see some of the stuff be moved here in the fourth quarter there's already commercial deals this quarter alone i've had plenty of my buddies tell me scott we've seen more commercial note deals come across our books in the last two months than we've seen in the last two years and you can look at some of these listing sites like dedex exchange.loans 10x first magnus first financial sorry ffm all have seen an increase in commercial note sales popping across the board as the banks want to start getting the stuff off their books as fast as possible okay now we talked about pivoting you've got to be willing to pivot some sort of just like this guy did this hotel instead of it being sitting there vacant in a brand new hotel he turned it into apartments and was able to come out of it smelling okay our buddy garrison gilbert is doing the same thing in pennsylvania and gettysburg and baltimore as well taking smaller 50 60 room hotels and turn them into apartments because there's a big need for affordable housing out there you look at office spaces also turning around a bit like this guy in denver is taking 110 unit office space and converting to sell storage pretty stoked about that it makes a pretty good deal sense to do that if you've got the opportunity to do that now the biggest opportunity isn't going to be in these huge huge 5 million plus assets that's where wall street's going to play that's where the cmbs guys like to stay five million or greater okay because they've got cheap money anything below that it's really doesn't make sense for them so that leaves a huge opportunity for investors like you and me everybody what i mean by that well you've got all this banks and finance all this lower value so lower value when it comes to commercial is sub two and a half million this is the stuff that's clogging up their arteries worse than my grandmother's chicken okay a lot of opportunities for you to step in and find the stuff that the big guys aren't looking for the banks looking for help okay being able to come and step in buy the debt and then work out something with the tenants the borrowers working to create a true win-win if you're buying a note at 50 cents of the dollar or less or 60 cents of the dollar less and you're not the one that has six months lost in rent but starting over fresh that gives you a lot of flexibility with attendance like okay i know you're six months behind let's extend your lease for another six months or let's you know i know you struggle let's get you started back up again as your tents are working let's create some win-win scenarios and that's the opportunity one of the biggest things for you guys out there like we saw back 12 years ago okay now are there banks in trouble out there hell yeah they're banks in trouble if you take a look at what's in kansas and missouri we like to track a list called the bauer financial list and we just the most recent report came out in june bauer financial evaluates banks on what they have in the positive they've gotten defaults it tells you what they have in 90 day late or greater 30-89 days because they're pulling information directly from the fdic it's a powerful list that gives us it shows us amazing thousands of thousands of banks across the country we know there are thousands of banks that lend in missouri and kansas but if we break it down and narrow the list down by just the banks whose main offices as they call either one of missouri or kansas home that leaves us with 154 banks they just call kansas missouri home okay it means they have their main office they may be landing in other places but just as an office base located there now if you look at that 154 banks combined they have 818 million and 90 plus defaults and an additional 342 million in that second wave 30 to 89 day defaults as of in june now we know a chunk of that's already 90 days like a chunk of that's 120 days later chunk of that is 60 days on the verge of going into 90 days like that's over one it's roughly 1.2 1.1 billion in bad debt everybody averages at about 5.3 across the board in defaults you have 163 million in just single-family homes okay single-family residential loans in default the biggest number is that 100 to 200 number hmm five times 16 basically yeah it's about 900 loans okay that's a lot of property out there that isn't default looking for some help on things now if you look at the two biggest guys banks uh people's state bank in kansas has 62 percent of its portfolio in default okay 62 percent of its portfolio default and the bank of washington has 30.3 of portfolio in default that's in missouri now the thing to keep in mind guys that's never that's not what a bank wants to be at okay that leaves a lot of opportunity to step in now we're going to see the wave of banks getting bought up or banks going out of business hell yeah it may not be as a stream as it was a decade ago but we're still going to see plenty there struggling out there now why would you want to buy this distressed debt we've talked about a little bit the biggest thing is that hey if you start buying debt now you're going to see deals now 6 12 24 months ahead of what your traditional investors out there are going to be looking for reos or going to the foreclosure auctions it's going to take a while for it to trickle down to those things you can start buying deals now and re-evaluate the market re configure that market because we all know foreclosures on the residential side of the commercial side completely impact the the market residential is the block the neighborhood the zip code the city same thing commercial the zip code the block the county it all affects in a derogatory fashion so if you can step in and buy this debt a significant discount from the bank and then become the bank it's going to vary on discount wise by location foreclosure time frame asset class the values condition etc out there you can purchase the debt and then control the asset by picking it up at a huge discount and then really working with the tenants or the borrowers uh your strategy to reinstate modification short sale take over the loan if you need to for cash flow turn into a re-performing note or take the asset back and add it to your portfolio and do what you want with it uh so many great things that you can do with the debt side whereas it's not the same as a foreclosure where you all i'm just going to buy it and sell it or rent it out no we've got a lot of flexibility that you can make some really good return on investment and return on time without having to do all the heavy lifting out there now other advantages are first thing that most investors struggle with and then traditional investing is the marketing side there we don't send out thousands and thousands and thousands and thousands of dollars in postcards or yellow letters or bandit signs or stuff like that we don't do that we're dealing with banks asset managers they're not going to answer a yellow letter hi my name is scott my wife stephanie and i would like to talk to you about buying your house no that's that didn't happen i just vomited a little bit what we do use though is the 21st century and scotty's here to beam you up i'm giving her all she's got captain to help you realize that if you've got email you can jump on linkedin or you can pick up the phone and dial for dollars by knowing what to say what not to say you can actually find a ton of deals for minimal marketing costs and one bank is going to lead to regular deal flow not one property from 5000 postcards and then do it all over again no i have some banks have sent me lists every quarter for the last six seven eight years because i'm on their note buyer list it came from phone calls or email blasts okay you can cherry pick the best deals for your portfolio if you want you could wholesale them flipping to somebody else if you get something that doesn't make sense if you want to buy in bulk guess what you can put the money together and get better pricing by doing that and yes it's a lot of the same things to find both residential and commercial assets and yes the banks will sell you stuff you know you're not going to buy a one-off residential note from bank of america or chase you're not going to do that but you can buy one off from smaller regional banks smaller banks you can also buy commercial notes from the bigger banks so they've got specific lending institutions just for that side of the sales side and look if you don't have the capital yourself like i know some of you are thinking that's okay go out and raise capital from other investors to fund the purchase go out and find other investors to take it off your hands and guys and gals we were at 15 million homeowners underwater in 2010 we're going to get close to that that means millions and millions of commercial properties as well are going to struggle now are there investors out there heck yeah there's a lot of investors out there if you look at what's going on just kansas city uh out of the nine trillion dollars in retirement funds out there i mean there's a ton of it out there waiting for investors to call in kansas city the kansas city metro area there's 18 000 investors within ira okay that have an ir individual retirement account a lot more than that to have 401k synthesized out of that number 12 000 two-thirds of them have at least 150 grand or more in their accounts how many investors do you need to talk to to raise a million bucks not much okay out of that if you wanted to basically if you don't want to raise capital guess what there are 20 000 real estate investors that call themselves that they follow their tax returns that you could flip the deal to go find the deal and flip it be a deal engineer put deals together but they're raising capital or flipping somebody else and make a five 10 20 or more wholesale fee if you're buying stuff cheap leaves a lot of room for you to put some good money on there for yourself and just so i always ask you do you want to be the banker or the borrower and the thing is here everybody yo want to be the bank there the bank always wins there is so much money out there you're already in the note game everybody you're just paying money out versus it coming in the banks aren't in the short-term rental they're not in the fix and flip game they're not in the property management side they are in the debt game and that's why they're the biggest institutions out there and also why it makes for an opportunity for you guys to step into the bank's shoes to buy some of this debt that they financed okay so how do you tap into the tsunami of deals how do you ride that wave and surf it all the way into your your pocketbooks well i've been teaching real estate investors about known since 2010 i was the known educator of the year a few years back i've helped thousands of investors purchase their first non-performing note or even performing for the portfolio but there was residential commercial notes we've done both and done a lot with both over thousands of individual assets over my 10 plus years of experience whether you're looking for cash flow great are you looking for asset growth you want to add some properties your portfolio you can do both with what we're talking about you can buy one off or bulk you can do trades from as little as like 25 000 up to 5 million okay that's the big thing you don't need to have a ton of money to do this there's plenty of opportunities out there on a one-off basis or smaller values if you want to but you can also go big if you want to and the bank doesn't check your credit they don't look to see if you're on time with your payments they just want to know can you fund and are you going to have the right team in place if you've got some vendors or stuff like that to take care of it and you can like i said before you don't have to drop money month after month after month on marketing if you're going to jump on the phone want to send emails or jump on linkedin and follow the forums that we teach you can really tap into deals today so whatever your focus is like i've said before single families apartments hotels retail self storage office mobile home parks whatever you want to do there are deals in all asset classes whether you want to help a single family home you can really create women's stories for the borrowers out there people have been in their house for years hey it's not their fault they've been laid off there's not their fault coveted ransacked the economy you can do a lot of good and really get some great stories of helping people whether it's on the small side or you want to go on the high-end side or you want to go on the commercial side maybe you want to start off with apartments whatever it is guys there are deals everywhere and you can do it big or you can do it small i always recommend hey starting off a little small get things rocking around kind of like gene did here jean started off we met him a few years back he was buying some deals in his hometown of elkhart indiana working full-time as a long-haul uh as a hot shot driver and doing okay he took our class took our training spent some time with us fast forward a few years now he closed on over 135 assets he was scared to raise private capital now he's raised over 13 million in private capital and he's putting uh a million bucks seven figures in his pockets out there that's a big difference in just trying to get by you talk with laura blunk out there who just moved to her dream house in maryland on the water she's from south of austin in a town called wimberley texas and she was like many real estate investors out there taking classes trying to learn how to do what to do trying to take that tool belt go to classes oh i'm gonna try to wholesale i'm trying to do some options try to do some wrap around some light rehabs or whatever money she had she was scared to raise capital fast forward about 18 months after she took our training she closed on she's going on 15 deals raising capital on a regular basis she's getting ready to close on a big trade she's closing over a hundred deals already okay now she's gonna close on a trade of over a hundred assets of performing notes at 53 percent of value it's like an 18 cash and cash return four million dollar trade that she's taking down with other people's money you can do it if lord can do it you can do it and it takes us also like he's probably one of our senior investors out there got a lot of experience fixing flipping doing other things uh working water treatment plants i think he was a mayor of a small town in ohio he learned a note business from us a few years back and i'm excited to say that he sent me an email recently said scott we're going to make a million dollars this year seven figures and we're looking so much forward to what 2020 has to offer because we know the opportunities out there and all these guys guess what it wasn't get rich quick overnight it was building wealth by doing the actions that you have to do do they be coachable and all of them were coachable and like i said i don't care what your experience is you don't have to have a lot of real estate experience or anything i felt like raphael did here he had no experience he's rented a place in san diego he was a business owner he owned 15 15 full-time employees with his car detailing business but when covet came to san diego he didn't own a house and he had to let a lot of people go nobody wants to drive their car or has to come over and clean their car so he'll let his whole staff off but luckily he'd started learning this a few months earlier in november december first 30 days he bought five deals uh used his own money on the first two and bought two non-performance got him re-performing performing at roughly an 18 percent cash and cash return that's not too bad for your own funds the other two he's gonna flip and make a good return on it and then the fifth one i think he's still working through but he started off with no experience i just talked to him the other day on a deal he's working through he's so happy he found something because he would be in a whole lot of hurt if he didn't learn how to do investing in order to do this the right way he's so excited with what the year has to offer 2020 is going to be an amazing year for all of these people and a lot of our students because they're doing the right things the understanding opportunity that it's everywhere and now is the time to start building those relationships and so they come the end of the year come the fourth quarter you're rocking and rolling just like the thousands of other investors that we have helped over the last 10 years take their businesses to whole new levels how they get started are taking our training and the first step if you want to look into dip your toe in the waters ladies and gentlemen i would recommend our note weekend training it's the first thing that i would recommend it's a one-day class that online class with yours truly helping you get your note business rocking and rolling helping to figure it out you don't need to learn everything in three days you're not going to learn everything about the no business in three days let alone one day but you can learn a lot of stuff and understand that hey this isn't as complicated as most people make it out to be the note business is doing a lot of the same things over and over and rinsing repeating and just getting the right direction if you've got some real estate experience this is gonna be awesome if you don't guess what this is a great starting point for you to figure things out and get rock and roll and so um like i said it's a one day online note training it's basically a mini workshop with yours truly our students call the cliff notes version of training we live stream it live on saturday via zoom the replays are available for you on sunday so if you miss a spot on saturday guess what you can watch on sunday you know um it's a great great starting point class for you guys and normally it's 97 bucks we dropped the price to 49. uh the earliest we've gone is from nine to three usually we go nine to six nine to seven i'm along i'm on as long as you have questions i love to help you guys interact and network to share a little about where you're looking to invest what your focus is like i said we usually do this the third or fourth saturday of the month it just varies a little bit but if you go to noteweekend.com and get signed up tonight guys we've got some bonuses that we're going to throw in some really great deals for you to help you really take things the whole next level but what do we cover well the first part of the day is all about finding deals where do you find these deals what do you say what don't you say all right because you don't want to shoot yourself in the foot when you're on the phone with banks okay so we'll talk about what exactly you say how you say the lingo the wording so that the banks are sending stuff they take you seriously if you don't have the capital don't worry about it we'll show you how to find opm other people's money in counties around you we'll show you how to tap into those 12 000 ira investors in the kansas city area or wherever you're located okay we'll also talk about the different exit strategies to make money there's a variety of like 10 to 11 different strategies because it's important not just to buy something but to make some money immediately and the different ways to do that we'll talk about the different vendors in the team that you have to have in place for these this is not difficult no you're not paying huge amount of fees in the front end you're gonna need attorneys you're gonna need some real estate agents you're gonna need a servicing company uh you need people go out and take a look at the property for you you're not going to jump on a plane you can literally do this business from your home and buy deals all across the country okay so well your team and vendor will help you do that you don't have to do it all we'll talk about the different loan trading platforms that you can buy and look at assets right now and we'll cover a lot more like marketing and other things legal side uh we'll talk about some of the ways that you can raise capital creatively different structures how to if you use your own money how to cash that money out lots of great stuff for you and like i said if you go to noteweekend.com guys and gals uh you can join in for just 49 bucks so that's not enough for you i'm gonna throw in some more bonuses to really take away all the doubts that you might have okay uh i'm gonna throw in the class normal like i said 99 we do it for 49. um we're gonna throw in a four hour training thing called our calling banks training this is where yours truly on a wednesday afternoon basically from noon to four one to five i will jump on the phone and call banks for hours and you can join in and watch you can ask questions you can hear the lingo you can hear the conversations back and forth you can see how i follow up who i follow up what questions do i ask and see the deal flow rolling in and it's people love this because it's a lot easier than they must think most people are like scared to death to pick up the phone and call i show you boom if i can knock out 50 phone calls in a few hours you can do this on a regular basis too it's not that difficult but it's also one of the biggest bang for the bucks and finding deals out there and those that get ahead in life are those that are willing to do a little bit more than what everybody else is willing to do that's normally 49 bucks we throw that in um i'm going to throw in the bauer financial list the most recent quarter report for you guys as well this is usually somewhere between a 300 and 400 purchase i think last quarter was 360. we'll throw that in so you can see the banks that we call you'll see the percentages you'll see who has what and what their default rates are and what they have on their defaulted books yeah that makes it really easy to target the banks that you call we'll also uh do a 30-minute one-on-one call with me after the event i charge a thousand dollars per hour for consulting all right so it's a 500 value there for me to sit down with you kind of go through make sure you're going off in the right direction to make sure that okay these are the areas i'm looking at buying this is a good thing what should i target who should i target that's worth 500 bucks right there we'll also throw in the replays we talked about to the previous event and this event if you've got a spouse or a business partner that you'd love to have them attend as well too we'll throw that in there for you and then of course we've got an amazing facebook group of over 900 investors 900 students of ours who are doing amazing things it's a great resource to find deals to find funding to help people that look at your assets to ask questions that's included there for you so over really twelve hundred thirteen hundred dollar maybe fifteen hundred dollars i haven't had it all up but in bonuses for you guys it's all for just 49 bucks okay and i'll throw in one thing more if you go through the class you're like scott you haven't given me value i don't think this is for me i gladly refund your ticket no question asked okay i'm not making i'm not trust me i'm by far not getting ahead of 49 i'll tell you this though what i am is that the thousand people that i want to help that thousand people not only becomes an amazing network for me but for you guys as well people that understand the new business people that i can send deals to people that if i have deals in their neck of the woods they can take a look at it for me and either evaluate for themselves or help me out of the deal that's the whole reason everybody i'm trying to build a note army again here as we see things getting worse out there to take advantage of the opportunities out there and really create some win win win scenarios win for us went for the banks and went for the borrowers and i would love for you guys to be a part of that so if you just go to noteweeknd.com you get signed up there and like i said whatever your goal is ladies and gentlemen whatever your goal is long term retire spend more time with your spouse have them retire put your kids through college put retire your parents travel more have more fun or update your your toys your house whatever it might be we know it needs cash or you need to be in the note business to make things happen and now is an amazing time to do that so get signed up tonight noteweekend.com love for you guys be a part of it go there you can actually see the schedule click on the rsvp now that'll take you to the checkout page put your credit card information in there and for 9 49 bucks you get started being a note buster out there for you guys so i'd love to open it up now if there's any questions for any of you guys out there tonight i'd love to answer those for you and leave it open for you guys so if you're watching this on the replay feel free to ask your questions in the in the facebook or the youtube comment section we're glad to answer those we moderate those continuously to see as people are asking questions i know you have questions we want to be the ones to help answer you there and we'd love for you to be a part of our extended note family so go to noteweekend.com everybody sign up now and uh sign as soon as you get it as soon as we get this you'll get a link an email with access to the previous class you can start watching that stuff so the next time the class rolls around here in the next week you'll be ready to rock and roll even more dangerous and be ready to buy some notes so i want to thank you guys for joining in and being a part of it tonight taking an hour of your busy schedule to join me here on the note nation top 40 tour go out take some action everybody and we'll hopefully see you the next note week in class bye everybody