If you've been to a real estate note buying event anywhere in the country you might recognize the name RSI Asset Management. 

If you don't you need to pay more attention while you're out networking.

And if you're not out networking, you need to take better notes when you listen to the show.

Today we recap the past week for Robby and I, then we dive head first into an interview with Bill Bymel, a Founding Partner at RSI Asset Management. 

Bill grew up in South Florida the son of a Florida real estate broker, but headed off to Film School at NYU when it came time to look at college.

Associate producer of the movie “Highway,” and has some buddies that found huge success in Hollywood.  Creative Exec job following Hollywood, and though it was cushy, he wasn’t the biggest fan of the industry he had chosen to call home.

Started into real estate after a return to Florida in 2002, Brokerage license in 2003 and started an REO business with around 20 agents, this was before there was the REO market we know. 

Wanted to focus his business on actual real estate investment and not the sales portion, which started with a fix and flip focus up until 2005 when Bill took an opportunity to get into commercial real estate investing focusing on retail sites.

Inall from California fund on Port Saint Lucie opportunity with to work with valuation of deal.  This opportunity lead into what is currently RSI.  Now Bill is managing $50-80 million worth of real estate on some level.

Bill’s tips to getting started: 

1) Know whom you’re buying from.  Make sure you’re building a relationship with the seller.  Make sure your seller is an open book; million dollar deals are done everyday on a handshake.  Don’t deal with the guys that are asking for an LOI and a proof of funds. 

The current secondary market for mortgages is the result of the traders that first started it.  These guys might ask for a wire without escrow, but they aren’t in the business of burning bridges to make $1,000 profit off of you.

2) Make sure you’re honest with your seller.  If you can’t fund a $100,000 purchase, don’t tell the seller you have $100,000 behind you.

3) Don’t hesitate, at some point you have to jump in and do a deal. 

Bill shares a few examples of some great deals he’s had from the perspective of profit and from the perspective of keeping a motivated borrower in their home.

“Find someone to follow, to be your mentor, to learn from.  Somebody that has done it, and done it successfully.”

www.RSIAsset.com

As always send you questions to [email protected].

Listen to this week’s show and learn:

• Know Whom You're Buying From
• Importance Of Relationship Building
• Honest And Integrity In The Business
• Jump In And Do A Deal
• The Newest Addition In The Note MBA Family
• A Contest, Our First Ever

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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby