Robby and Chase are both freshly back from recent trips and have finally decompressed from some packed schedules. After thanking listeners from their past weekends, they dive into a few great books they recently finished as well as what Chase is currently reading, which happens to be a re-read, 4 Hour Chef and a daily dose of The Tools of Titans.

Next up, they start discussing an Oklahoma CFD deal Chase just funded. He explains that it looks like the borrower has actually completed some capital improvements to the property instead of paying the bills. The actual UPB they had on this one was just south of 35k and the acquisition price was $24,000, while the current market value is between 49k and 56k. The exit strategy currently looks like foreclosure for this one and Chase will keep everyone posted as to how it works out.

Robert goes over a deal he’s getting out of in Canton, Ohio where he has discovered one of the worst property managers he has ever worked with which is Hayes Property Management. He originally picked up the note in June of 2014 for right around $8,500 and his BPO on it when he bought it was $27,000. They had expenses around 13 or 14 thousand (taxes, legal, etc.), but the real kicker and frustrating part to this one has absolutely been the property management company - we repeat, do not work with Hayes Property Management in Canton, Ohio. At the end of the day, he decides it’s best to sell at a bit of a discount to an investor that Tonio found instead of selling through a Realtor and making a few thousand dollars more.

Chase and Robert then discuss sourcing notes and deals as it was a question Chase heard numerous times on his trip to New Jersey. Robby has a great snide answer to the question - “Go create the situation you want and stop asking other people to do it.” Robert explains that if they want different assets, they’re going to go call people and they’re going to make it happen and create that situation. Instead of asking how you should go buy your notes, you should be asking about the philosophy behind creating the situation you want. This reminds Chase of a great quote by George Bernard Shaw which is “The reasonable man adapts himself to the World; the unreasonable one persists in trying to adapt the World to himself. Therefore all progress depends on the unreasonable man.”

In parting news, Robert is making some good progress in Chicago and relays the great news that they were finally able to evict their last squatter in the multi-family building there. They also discuss some vacation planning tips and upcoming note events so be sure to listen in to the whole episode.

That’s it for this week! 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:

• What a CFD is
• Great books you should be reading today
• A property manager you should avoid like the plague in Canton, Ohio (Hayes Property Management)
• What Robert’s response is to new investors who are asking how and where you source deals
• And much more!

Featured on the Show:

• The Science of Getting Rich by Wallace Wattles
• Tools of Titans by Tim Ferriss
• The Four Hour Work Week by Tim Ferriss
• Lifeonaire by Steve Cook & Shaun McCloskey
• Grant Cardone
• Eddie Speed
• George Bernard Shaw

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

Cheers,

Chase & Robby