Unfortunately we are both playing a bit of catch up from an administrative perspective so we are going to miss out on NIS – Note Investors Summit, out in San Diego this week. 

We’re sorry we won't be able to bring back any industry knowledge that I’m sure is being dished out during this event.

Robby has officially made his first hire, which is a huge leap forward for his business and for the growth of NexGen Coastal Investments, LLC. With the hopes that this will free up some of his time from administrative tasks and give him the opportunity to teach the business to someone in a one on one environment.

Stacey will be starting in two weeks; in the meantime, we are in the process of working out a good title for her position. We're definitely open to suggests.

Last week we discussed an asset Robby owns that the borrower filed two consecutive Chapter 13 Bankruptcies on, though the borrower never filed a plan. Over the last week, the property went to auction and Robby’s company will take title to the asset.

During this time Robby was able to work out a deal with the borrower to leave the new appliances in the condo, to have it cleaned, and collect $1,200 for giving the borrower 30 days to get moved out.

This is a double win as the borrower is getting out of a $35,000 deficiency judgment and Robby won’t have to go shopping for new appliances. Not to mention he’s collecting a full month of rent during a period of time he is traveling and wouldn’t be focused on selling the asset.

Robby is calling this move “Reverse Cash for Keys.”

We’re still waiting to hear back on Robby’s offer to buy a few 2nd position mortgages. Though we’re anxious to get started in this sector of the market, the bid is with a new seller and you never know how these acquisitions are going to work out without having an established relationship.

Expanding your network with a low-tech security system. Robby handed out his business card along with $20 Target gift cards to the neighbors of an asset he recently took title on. 

The asset had a squatter living in it that needed to be evicted and he just needed the neighbors to keep an eye on the things. As it turned out, one of the neighbors handles project management for a property manager for REOs and has a huge network of contractors that do repair work.

The neighbor offered to put together a full scope of work and bid out the repairs. This is all the result of giving first, asking for help, and letting the world work out the details for you!

The Magical ROI Calculator

You have to do this one on your own. Everyone needs some form of an ROI Calculator to assist in their due diligence when buying notes. However, we think that everyone should personally build his or her own Excel ROI Calculator.

Over time you will make changes to your own calculator as your business develops. There are a lot of little tweaks that every individual investor is going to want to make, and what makes one ROI Calculator perfect for one investor is going to make things into a disaster for another.

Point being, build your own, but listen for a couple minutes as we hit on some key features your ROI calculator should include.

If you need a little help with Excel education, you can check out Lynda.com. They have a variety of educational courses available online for a very reasonable cost.

Robby picked up a new book on non-performing notes as a result of his first Meetup.com webinar, Performance Anxiety by Gordon Moss.

Go figure, Chase had randomly picked it up this week as well. We’ll bring you our feedback on the book on our next episode.

As always send you questions to [email protected].

Listen to this week’s show and learn:

• About Our Magical ROI Calculator
• The "Reverse Cash For Keys" Strategy
• Expanding Your Network By Giving First
• Update On Double Bankruptcy Deal
• A New Book On Non-Performing Notes
• A Resource For Upping Your Excel Game

 Listening Options:

• Subscribe via iTunes.
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• Right-click and “save file as” for direct download.
• Or click here to get sent to the top of the page where the on-site player is.

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

Cheers,

Chase & Robby