Since Robby had to take a last minute trip up to Chicago to take a look at some of their assets, Chase took the time to interview, Paul Birkett, who has a 20 year corporate career background with the likes of Proctor & Gamble and Pepsi Co and has been able to acquire 1,500 assets in his first 3 years!

To start out the conversation, Chase asks Paul to describe how he got started and some of the pitfalls he experienced in the beginning stages of his note business. He begins by repeating one of our favorite phrases on the show, “well, you don’t know what you don’t know.”

He started out in the Note business while doing a short sale with PNC Bank when the lady who was managing the short sale called him and told him we can’t sell you the note because we sold the note. Paul then met the guy who bought the note and discovered the wonderful world of notes. He quickly sold the roughly 15 rentals had so he could putting capital in to the note space.

He also describes how they grew a little too quickly for their own good after buying a large pool of notes in the Chicago area. Due to the circumstances though, they quickly learned necessary systems and people they needed to put in place so that everything that came in the door had a clear plan & process.

The gentlemen then segue into what Paul believes are the most important aspects of the business to focus on and how to run your day to day operations. He breaks it down by into two things:

1. Your to do list which is comprised of his 1, his 3 and his 5

• 1 thing he’s definitely going to do today
• 3 things he really wants to get done, but may not get fully complete
• 5 things that he wants to get done and if he can, he will. (i.e. never go to sleep at night with un-actioned email)

1. Having systems for the day to day so you can easily scale and don’t get caught in a rat’s nest once you have 15, 20 to 25+ loans going on at once.

They go on to discuss numerous topics such as building a solid foundation to prep for scaling, how to embrace being “in the weeds,” & much more so be sure to listen to the rest of the episode!

Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at [email protected].

Listen & Watch this Week’s Show to Learn:

• Issues with growing too fast
• What type of growing pains you can expect if you’re just starting out in the Note business
• Why Paul sold all of his rental properties to focus fully on Notes.
• How to speak with investors to raise capital
• Why you don’t want to put investors work immediately rather than let it sit briefly
• What Paul believes are the most important things to be focusing on
• What holds back the majority of investors from getting started and also scaling up
• And much more!

Featured on the Show:

• Paul Birkett - Ex Corporate Exec turned large scale Note Investor.
• Automation Finance Investment Fund - Paul’s company
• Proctor & Gamble
• Pepsi Co

Listening Options:

• Subscribe via iTunes.
• Listen on Stitcher Radio.
• 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