Doing an interview while at the NoteWorthy East Summit in Newark, NJ, Chase and Robby take some time out to interview Fuquan Bilal from National Note Group (NNG).

Fuquan has a great background in 2nds, something that Chase and Robby will openly admit to only knowing enough about to get themselves in trouble.

Fuquan has been buying 2nds fulltime for the last three and a half years, as part of his 15 years focused on real estate investment.

“If you want to get drunk of yields, go into seconds!”

We really like how Fuquan says that when buying 2nds it gives you an “option” on a property for a small amount.

During the course of the interview Fuquan hits on a soft spot with the NoteMBA crew, which is that National Note Group doesn’t sell loans they don’t have complete collateral files on.

Highlighting one of the largest outstanding issues in the marketplace for a retail investor. If there isn’t a good collateral file, you shouldn’t be buying the loan.

As a due diligence nugget, Fuquan hits on the fact that when investing in seconds, the borrower is what you need to spend the bulk of your time trying to understand more than the property itself.

“If we foreclose we fail.”

Fuquan’s model as it pertains to seconds is to create cash flow, not to manage properties. Though the complete opposite of Robby’s direct approach to investing, it goes to show that every investor has a different plan and when you work your personalized plan you can succeed in the same space regardless of your goals.

“Real estate creates generational wealth.”

This has been one of our best interviews, as we didn’t have a great wealth of knowledge regarding seconds going into the interview. We think everyone should listen to this interview at least twice, we know we’re going to.

Take the time to check out Fuquan via National Note Group and do us a favor by letting him know you heard the interview on the NoteMBA podcast.

When it comes to education, Fuquan has set up the National Note Academy online and is soon going to open up their vault of information to the registered users to access for free.

National Note Group is where you can access Fuquan’s main site. As stated earlier the academy can be accessed NNG Academy for educational materials.

You can send Fuquan an email at [email protected] or give him a call at 973-855-4922.

As always send you questions to [email protected].

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

Cheers,

Chase & Robby