Note MBA

Endure the monotony of success, according to Gary Keller that is something that sets winner apart from everyone else. "The number one reason most people will fail, it's because they are unwilling to endure the monotony of success." Robby talks about it at the top of the show, but there is no question that 2017 was one crazy year. We experienced some tremendous opportunities for growth and education through some hard knocks. And though we are definitely grateful for that. We're also grateful for the other opportunities that came our way as well. So, let's dive into the first episode of 2018.

If you've been apart of the Note MBA community you know transparency is important to us. We love that we get an opportunity to speak to you, where you're at in your life and business. And we take it very seriously, which is why integrity and transparency are so important to us.

In this week's show, we bring some real heartfelt content to you about where we are right now. Around 2 AM on Tuesday before the show goes live this week, Robby recorded a brief, high energy message about where we've been these past few months. 2017 kicked us in the knees a bit - to phrase it lightly. But, we're here, and we're grateful.

Goal setting shows have always been special for us around here, and they've been a fun look in for y'all as well. I'm sure with Robby and David out this week, there will be more goal chatter in the episodes to come. But, for now, let's dive in on what I've got lined up for the year.art a capital fund, who else is there to call but Bob Repass. So, they've been running that operation since about 2012.

For this year, I'm doubling down on my reading goal for last year. For those that don't remember, I decided that in 2016 I had read too many books. Which I know might sound crazy. However, that is how I felt about the consistent striving for more people have been driven to regarding reading books. I felt that I wasn't really giving myself to time digest and implement in a way that was really impacting my life.

Fast forward to this year and I couldn't have been more right. The experiment to read less but implement more worked extremely well in 2017. So, I thought why not take it one step further. Instead of 3 books, I'll only do one book. And since our Note Investing Academy Book Club book of the quarter is The One Thing, I'll make it that book.

In making that decision, I might've changed the path of my life forever. And I mean that in the best way possible. Take a listen to this week's show to find out what I mean.

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].

• Are You Committed To Endure The Monotony Of Success
• How To Properly Write Your Goals
• Why Setting Activity Based Goals Will Change Your Life
• What One Book I'm Reading This Year
• Upcoming Events & Real Estate Travel Plans
• And much more!

• Note Investing Academy
• The One Thing
• Bullet Journal
• Best Self Journal
• The 4-1-1
• Finding Your Purpose
• Figures And Graphs for The One Thing
• Note MBA Facebook Page
• Due Diligence Pro
• Hardwiring Happiness

• 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

Boots on the ground is a phrase you're likely to hear quite a bit in the military and in real estate. And sometimes it hard to tell which group takes it more seriously. Boots on the ground is what we say in the real estate space when we're referring to having a solid group of referral partners in place in a particular area.

On a recent trip to Ohio I got the opportunity to establish some more boots on the ground contacts. Well, I tried at least. Before heading out we gathered some names of some local contacts to meet with during the time in Dayton. Some stood me up, others never got back with me. David mentioned on the show that they've had issues with flaky people in the area as well.

The reason for the trip was to handle some recording issues we had with the county. Apparently the phrase, "the right hand not talking to the left" was invented in Dayton - or more specifically, Montgomery County. The issues we've had trying to get a deed recorded remotely for the past several months has been absolutely comical. All of which came to a head when I had the pleasure of dealing with it in person.

During the trip I also drove assets from some bank and hedge fund contacts, and I took a look at some assets for a few fellow note investors. Once all that work was done, I took some time to drive multiple top zip codes in the Dayton area to get a better understanding on where we should be looking for deals. And so we can better communicate with those boots on the ground contacts we'll be working with - whenever they decide to call me back.

We've gotten a few emails about whether we're heading out to Note Expo, and the answer is yes. If you were on the fence, we'd love to see you come out to the event and say "Hi!"

Don't forget about Robby's life and business coach Michelle Humphrey. She has another Big Live Success event happening in November. This event is something you can attend to really get your mental game on point. We've heard feedback from a few different members of the community that have either gone to this event, or hired Michelle to coach them, that have blown past roadblocks and driven some serious success.

Lastly, on the week's show we talk about a seller, selling around us on a few deals. Many it was an opportunity to hear how other people handle this situation, and whether or not they've encountered it before, or regularly.

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].

• The Importance of Boots On The Ground
• We Are Headed Out To Note Expo
• The New Book Robby And I Are Giving Away
• Why You Should Eat At Red Lobster On Your Next Note Road Trip
• Being Sold Around
• And much more!

• Note Investing Academy
• Note Expo
• Big Live Success Business Event
• Note MBA Facebook Page
• Due Diligence Pro
• Hardwiring Happiness

• 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

Buying an entire hedge fund tape sounds really exciting - and maybe a little scary. Recently, with many of the pricing issue we're all seeing in the market, we've decided that buying an entire hedge fund tape seems to be the only way to get the deals and pricing we want. On today's show we talk about our recent at bat trying to do just that.

We've heard a decent bit of grumbling in the market about pricing - we've even talked about it on the show before. And if we're being honest, we've done some belly aching ourselves. However, belly aching isn't going to solve the problem. So we've been game planning and strategizing on what we can do about it.

Recently, the thought of buying an entire hedge fund tape is one of those ideas we landed on. Now buying an entire tape isn't something new. People have been buying entire hedge fund tapes since the 1980's. We even have some close contacts that have picked up entire tapes - or pools the size of an entire tape.

If you've been in the busy long enough its likely you've even bid on an asset or two and lost on those deals due to someone buying the entire thing.

We recognized a tape that might fit the bill. We did some initial high level due diligence, and things looked good. We knew bids would be due soon, and coming in with an offer on the entire tape was a stick we hadn't swung before. So, we decide we'd do a bit of formal due diligence on the tape to make sure we knew what we were getting into. After some time spent on that the tape was moving from good to great - there looked to be some real cherry deals.

The day before bids were due, we got some follow-up form some boots on the grounds, and took one more look at each asset, line by line, and things fell apart. And it was not for us trying, that's for sure. It was heartbreaking to find ourselves in another situation where we'd done a ton of due diligence only to not have a bid accepted - in this case because we weren't submitting one.

However, we carried forward some valuable lessons. We became increasingly more comfortable with the idea of buying an entire hedge fund tape. We locked down some "must have factors" for an entire tape purchase to make sense. And a few other items. It's a numbers game, and we'll keep stepping up to bat.

We've gotten a few emails about whether we're heading out to Note Expo, and the answer is yes. If you were on the fence, we'd love to see you come out to the event and say "Hi!"

Speaking of event, Robby's life and business coach Michelle Humphrey, has another Big Live Success event happening in November. This event is something you can attend to really get your mental game on point. We've heard feedback from a few different members of the community that have either gone to this event, or hired Michelle to coach them, that have blown past roadblocks and driven some serious success.

I'll be out in Ohio this weekend. So, if you live around those parts and want to meet, or if you have an asset or two you want me to take a look at, send me an email, and I'll see what I can do.

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].

• The Event Coming Up With Robby's Coach Michelle
• We Are Headed Out To Note Expo
• Buying an Entire Hedge Fund Tape
• And much more!

• Note Investing Academy
• Note Expo
• Big Live Success Business Event
• Note MBA Facebook Page
• Due Diligence Pro
• Hardwiring Happiness

• 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

Delinquent tax proof of payment strategy was a hot topic over on our Facebook page. Robert wracked his brain for a strategy and system to improve the way we handle providing proof of payment on delinquent taxes. And it would appear as though we've made some headway.

It's been a ruckus past few weeks for the Note MBA team. We've had several closing, some of them from note deals - including a bit of wholetailing - a lot deal, and David closed on his flip. We take some time diving into the numbers and strategy of David's flip.

One of the key takeaways is that David did all the work himself. He even admits in the show that this probably wasn't the best strategy. After doing a little happy dance, he talks about how he picked it up as a HUD home. In the beginning he was living in the home while renovating, using a house hacking strategy.

He bought the home for $180k, after $20-25k in repairs, he was able to sell it for $283,000. So, first off, solid freaking deal. This obviously doesn't include his time costs. However, it gave him an amazing education in what it takes to do a quality rehab job. Going forward he'll be able to take that knowledge into numerous future deals.

Today is also the launch of The Note Investing Academy. This is, without a doubt, going to be the premier course for note investing education. We've been planning it for months, working with the input of numerous other investors - including two additional "instructors" for the course.

The course itself currently includes over 60 video modules that cover everything we could think of, and have encountered in the business. And that word currently is important. We know that things changes, and that there is always something for to expound upon. So, one big aspect of the course is community feedback. We're committed to listening to feedback from everyone that takes the course.

We will continue to add to the course, and improve upon it as time goes on. We're very excited about the the launch, and if you pick it up in the first 5 days you'll get $500 off.

It all started when Robby needed to get proof of payment over the FCI, so that he could add as a corporate advanced expense delinquent tax payments. It was like banging your head against a wall to get the proof over to FCI. Enter into the picture the delinquent tax proof of payment strategy.

With the payment slip, proof showing on the county website FCI still wouldn't move on it. So, Robby thought of a genius strategy to overcome this issue. He sent a handwritten note, a self addressed & stamped envelope, and a forever stamp to the county. And wouldn't you know it, it worked.

To see how we've moved to systematize this take a listen to this week's episode, right around the 21 minute mark.

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].

• Closing Deals All Over The State Of Florida
• A New Note Investing Education Course Debuts
• An Interesting Facebook Content Strategy
• Delinquent Tax Proof of Payment Strategy
• And much more!

• Note Investing Academy
• Simon Sinek Video
• David's Facebook Page
• Note MBA Facebook Page
• Due Diligence Pro
• Hardwiring Happiness

• 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

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.

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.

"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].

• 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!

• Due Diligence Pro
• Hardwiring Happiness

• 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

Note investing insurance can present some murky waters for a new - and experienced - investor to wade through. That's why we're talking with one of our favorite insurance service providers on this week's show. We've also had a ton of requests for this topic with all the hurricanes, storms and natural disaster happening in many states that we all invest in.

Mel Babtkis from Ross Diversified, joins us on today's show to talk all about the note investing insurance you need for your business. One of the major reasons I like the guys over at RDIS, is because they are note investors too. They understand the issue we encounter in the business, and helps us get the right coverage for numerous different scenarios.

Some of the items Mel touches base on are force placed insurance, CFPB compliance, how to make sure you're protected on an asset by playing FBI agent, and so much more. On the topic of force placed insurance, he covers all the CFPB lets for staying in compliance. This has led to an interesting conversation in our office. We've been talking about the systems we have in place to make sure those letters go out, not only in a timely fashion, but at all.

We've, since the recording, had a conversation with the guys over at RDIS - specifically Mel's brother Ed - and they said they'd be willing to give us the boiler plate letters to send out to the borrowers; as well as, giving us the exact timelines for when those letters need to go out. We'll be including those letters in the doc section of our upcoming training.

Another main competent to understand regarding your insurance coverage is, how much do I need? This was a question it took me a few deals to get right, and Mel gives a solid breakdown during the show.

Insurance is always tied to the value of the structure. When it comes to insurance a 1,000 square foot home, at $10 a square foot. So, you've got an asset with a value of $100,000. Let's say the note is going to cost you $50,000 to acquire. So, how much can you insure? The $100,000 value of the home or your $50,000 stake in the home?

Well, the answer is both! You can invest up to $100,000 because that is what the home is worth. However, you might be in a position where you don't want the increased premiums, and you're only interested in insuring your interest in the property at $50,000. Both are options you have when choosing how to insure the asset.

Mel goes on into more detail around minute 16 of the show! Definitely spend some time understanding this aspect of the business.

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].

• How Much Insurance Do I Need On This Asset
• How To Stay CFPB Compliant With Regards To Insuring Your Assets
• What To Do And What You Can Do If You Have Assets In Places Like Florida With 'Named' Storms
• And much more!

• Due Diligence Pro
• Ross Diversified Insurance Services

• 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

Do you have an accountability partner? I'll be asking you this question again. This is one of the areas I think too few people focus on. After much real estate talk, Robby as a tough love session with David about some of the things happening in his business. We've had these back and forth sessions before, but this is David's first one. We want to see him win with his business. So, we breakdown some accountability for him.

Thanks to the wonders of the internet the note investing road show never has to stop. We'll be uploading some great videos Robby shot while he was traversing the country. We'll be releasing those videos later this week and early next week.

They are fantastic examples of the simple marketing style videos you can make for your real estate investing business. He's not hard selling in any of them for people to send him capital. He's not holding some check, while he's headed to the bank. He's in front of real assets, we actually own, talking about the portfolio.

And it doesn't matter how great your Photoshop or Canva skills are. When it comes to creating marketing pieces for your business, nothing is better than a case study. However, there is one exception, actually standing out in front of the damn house. It's why we're talked so much about the importance of visiting your assets whenever possible.

Sometimes the universe just places situations in front of you. If you're a Note MBA Insider, if you get our Monday emails. this past Monday you received a message of self awareness and accountability. One of the primary reasons for my recent move was to address this issue in my own business. Without any prompting Robby took an opportunity to get after David on where he's been slacking.

Depending on how comfortable you are with confrontation the segment could be tough. However, you've known us long enough, and you've seen Robby and I go after each other enough, to know we do it with the right attitude. We want to see David succeed. We want to see him build the business he claims to want to build.

And doing things like that can require outside help. So, do you have an accountability partner? It might be that missing link to achieving what you're after in your life and business.

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].

• An Update on The Atlanta Fire Property
• Follow-up From Last Week's Mid-Year Goals & Routine Episode
• We Almost Had Another Borrower Call In
• Robby Gives David Some Tough Love Accountability Feedback
• We've Got Road Trip Videos Headed Your Way
• And much more!

• Due Diligence Pro
• Triggers by MArshal F
• Your Life in Weeks
• Multiple Streams of Income by Robert Allen

• 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

Mid-year goals and routines have been top of mind for us these past few weeks. Mid-year goals for obvious reasons, we've done a mid-year goal review show every year since 2015. However, the topic of routines, though something we've definitely covered before, isn't something we've talked about like this before.

Today's show format is a bit different. We wanted to have all three of us on to talk about this topic, but it just couldn't happen. So, we've got Robby kicking us off with his thoughts on where he's at for his mid-year goals and routines. And, if I'm being honest, when he sent over the audio, it wasn't what I was expecting.

This year has seemed like a runaway train for me. Though I've accomplished a many of my goals, some of the important ones have been incredibly elusive. It wasn't until I listened to Robby's take on his year that it hit me as to why everything has seemed so haphazard.

Because it has been haphazard!

He brought me some wonderful insight into where he's been with his lack of routine. And our unwittingly mirrored situation was refreshing to hear. Not in an entirely misery love company kind of way, but it's helpful to know that other people have similar struggles as you. And it can be empowering to hear about their situation, and how they are getting on with improvement.

An article written a few years ago has stuck with me in a way many books haven't even managed. It's called Your Life in Weeks, and I talked about the chart presented in this article in the show.

Basically, if you made a grid of 52 circles by 90 circles you'd have a 90 year life represented as simplistically as possible. It's an interested graph to look at, however, it becomes very unnerving - very quickly.

You look up and down at the axes and find where you sit on the chart - and you marvel. You're all at once taken with all the time that has passed, and all the time that's left. Depending how old you are all in the context of that last sentence is going to be very different.

Here's an example of that chart, but I'd recemmond you still take time to go check out the article:

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].

• Where We're At With Mid-Year Goals
• How Things Can Easily Go Off The Rails Without Routine
• Your Life In Weeks
• One of Chase's Favorite Blogs To Read On Line
• Is There A Survivorship Bias With Written Goals
• And much more!

• Due Diligence Pro
• Your Life in Weeks
• Multiple Streams of Income by Robert Allen

• 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