Wholetailing might be a phrase you're unfamiliar with - heck, you might think I spelled wholesaling wrong. And though wholetailing and wholesaling might sound similar they are very different strategies. Deciding to wholetail a deal might end up saving you some serious time and money. Let's get into it.

Wholetailing & Note Investing

The best definition for a note deal worth wholetailing is an asset that isn't busted up enough to wholesale, but isn't nice enough - or rehabbed enough - for a retail sale. When it comes to NPNs it's likely that many of the homes, even owner occupied homes, will have a decent amount of deferred maintenance issues, or outright problems.

Some of these issues are worth getting fixed, some might even be worth doing a full rehab on - there's no question about that. We've talked extensively on the show about deals we've done full rehabs on. Recently, we've also been discussing some of the major issues that can arise from rehabbing from afar.

A solution like wholetailing brings new light to a deal that might look like a time and money pit. These are the classic handyman specials you see advertised. And though wholetailing a deal will almost always bring in less money, it's worth evaluating exactly what you're missing out on. One area many people forget to appropriately allocate resources towards is holding cost - and for that matter speed. Often times just exiting a deal a few months earlier than you would've otherwise can turn the tide on what is quickly becoming a tough ROI situation.

Hardwiring Happiness

"By taking just a few extra seconds to stay with a positive experience—even the comfort in a single breath—you'll help turn a passing mental state into lasting neural structure." This is a direct quote from the book Hardwiring Happiness. During the Distressed Mortgage Expo this past weekend I had the opportunity to meet a fantastic listener, Steve.

When we had time to chat Steve didn't want to talk real estate. He didn't want to talk note investing. He wanted to talk about our show with Dr. Dan Wurzelmann. It was our episode on how to handle overwhelm in real estate. More specifically it was our episode on mindfulness, meditation and mental health. There aren't too many real estate groups, YouTube channels, or podcasts willing to broach a topic like that, but we did. And Steve wanted to commend us for it.

However, more to the point, he wanted to talk to me personally. "You breathe from your mouth when you begin to struggle, don't you?" "Don't take even a second to accept gratitude in, do you?" The questions came fast, and they were as gentle as they were sharp. He cut right through me.

Listen to this week's episode to hear how the full conversation went.

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:

• Wholetailing In The Note Investing Space
• Why And How Wholetailing Could Save One Of Your Deals
• What Chase Thought Of The Distressed Mortgage Expo
• One Of The Most Interesting Conversations We've Ever Had At A Conference
• A Great New Book Recommendation
• And much more!

Featured on the Show:

• Due Diligence Pro
• Hardwiring Happiness

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

Cheers,

Chase & Robby