We open the show up with some listener questions ranging from how to set up your Joint Venture documents to how investors should wire their money over to you.

We also go over banking for Joint Venture deals and how the Joint Ventures are structured.

Another listener wrote in asking about reaching out to borrowers when your servicer seems to be falling short of holding up their end of the bargain.

We think this a great way to help advance your business, but it also gives a bunch of potential for you to slip up and break some laws under FDCPA and CFPB.

We toss the idea out of having a webinar to educate our listeners about FDCPA and how you can protect yourself while going after borrowers and making direct contact. Let us know what you think if this is something you would be interested in at [email protected]

Robby is working on a few different aspects of Cash for Keys regarding some assets he has in Chicago, Columbus, and Miami. Robby runs through some numbers and we speak about the psychological and financial aspects that go into picking a number to start offering up as starting point for Cash for Keys.

Stay tuned to hear how these three situations work out in the coming weeks.

We briefly discuss using your self directed IRA to put out an option on a note and using that option to really supercharge the balance of your account.

On our new section of the Rumor Mill & Industry News we discuss a new foreclosure issue showing up in Ohio.According to our listener David Putz.

And we finish up with some rumors that second position liens seem to be drying up from the top down and access to new notes is getting scarce.

Robby’s final note was on a new service he will be using in Orlando to save time and let someone else do his grocery shopping for him by signing up for Shipt.

Check it out if you’re in one of their current markets and let us know what you think.

Please take a minute and write us at [email protected].

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

Cheers,

Chase & Robby

We had some great listener feedback over the past week in regard to a question from Eric last week asking about the FCI Exchange.

There are some great notes about the value found in the Exchange for a “new” note investor.

Ed who wrote in about FCI gave some personal insight into how much money he used to start investing with via his Self Directed IRA and how he is planning on growing that amount.

Ed also shared that he has purchased some 2nd position notes from Dave Van Horn at PPR.

Robby hits on an article from an attorney up in New York that he found via a group on LinkedIn.

Check out the article by Peter T. Roach called: Do we still need assignments of mortgage in New York?

This also relates partially to a new foreclosure that Robby has started in TX on an asset that has an unrecorded assignment as of this recording.

We end the show discussing some numbers on one of Robby’s deals up in Ohio and how to manage your expectations of a foreclosure timeline.

We’d like to hear more from our listeners regarding how they have educated themselves about note investing. Please take a minute and write us at [email protected].

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

Cheers,

Chase & Robby

We had a fantastic week in Washington, DC. There was a great group of new and veteran investors we had the pleasure of talking, teaching, and interfacing with over the weekend.

Not only that, but we drove some very promising default commercial assets. Once we get pricing, and a few other details, on these deals we'll be talking about them on the show.

On today's show we address a listener question regarding servicing and borrower outreach.

We have pretty strong feelings regarding the job servicing companies do for you, and when you should bring them onboard.

We briefly touch base on the new fund we've been working on for the past few months.

Then we dive into preferred investor returns. How you should have those conversations with your private money people. During conversations with these private money sources you need to be setting appropriate expectations.

We’d like to hear more from our listeners regarding how they have educated themselves about note investing.

Please take a minute and write us at [email protected].

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

Cheers,

Chase & Robby

This week Chase and Robby get after a few listener questions and read some e-mails that came in over the past week.

Topics Highlights include:

-FCI’s Note Exchange

-How much $$$ do I need to get started?

-What if I haven’t done any deals?

-Robby talks a bit about note wholesaling

-A new FL Statute protecting tenants following a foreclosure

So, let's get to a few questions we answer in today's show.

Love the show!  Haven’t listened to all of the podcasts so if you have answered this before, I apologize.  What do you guys think about FCI Exchange for purchasing notes?  I’m new, have gone through Scott Carson’s Notes For Dummies class in Dallas, but haven’t pulled the trigger on a note yet.

I keep running into investors that say “once you have a couple notes under your belt, give me a call.”  If I get a response at all.  It’s pretty frustrating but I’m not giving up. - Eric

I really enjoy the show. Thanks for taking the time to put it together and help everyone out. In my opinion there are not enough resources out there for learning about this investment class.

Anyway, I liked the episode on self-directed IRAs. And it got me thinking about finally taking the plunge into note investing. With that said what minimum amount of cash would you recommend to have available to start investing? Basically, how much should I transfer into the SDIRA including necessary reserves? - Matt

If you have any questions you’d like us to address on our next Mailbag Episode.

You can always send you questions to [email protected].

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

Cheers,

Chase & Robby

Today we expound upon the old saying that it is not wise to judge a book by its cover.  This is something that hits home in the episode for a variety of reasons. 

Chase discussed a few assets that he found in his “backyard” that looked great at first. However, once he did some in person due diligence he found out the deals didn't look so great. 

Some of the issue he encountered included:

Robby just returned from a long, two day trip to Chicago. While there he applied this principle to some move assets we're looking to buy in the area.

He also judged a bit too quickly regarding  two Realtors we're hiring to move some REOs. 

 Robby talks about two surprises that came up as a result of his upfront “judging” of the agents.

This also brings up a point about educating your resources. You want to educate them on what exactly you are looking for when you send them out to view properties on your behalf. 

Each person is looking through a different set of eyes. Someone that isn’t well versed in what you’re trying to accomplish might skew the information on the property.

We wrap up discussing our attachment to technology as it relates to our business and personal lives. 

Robby promotes attaching yourself even further into using an online source to store your documents. 

This investment turns into Robby convincing you to invest even more money in your business, by traveling to do due diligence on your asset purchases. 

Keep this in mind as your business grows and you start looking at how valuable the upfront investment is when purchasing assets.

The one bad deal you don’t purchase by spending on this type of due diligence upfront will pay for itself time and time again!

As always send you questions to [email protected].

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

Cheers,

Chase & Robby

We’re back this week with some valuable tracking of information from the fine county of Franklin.

Franklin Ohio’s Clerk of Court provides a new level of information through its website for civil court records.

Robby discovered that you can sign up on each case docket to follow any updates within the foreclosures that he’s tracking in the county. Hopefully this is something that will be adopted in more counties around the country.

Robby shares an interesting story in reference to a new YouTube video and LinkedIn article he recently wrote. Listen in to find out about what happened and how he is going to adjust some protocols for when properties are being renovated.

We touch briefly on UBIT in reference to the self directed IRA show we had with Tyler Carter last week. It is a high level topic we will be diving into on another show down the road.

Our second technology topic, and also a due diligence topic, regards using Pacer.gov online to search for bankruptcy filings all across the country. Spend the money for the access and add Pacer.gov to your due diligence list.

We wrap up with a quick chat on some refinancing options for assets we have in the portfolio and evaluating a home equity loan versus doing a portfolio loan on multiple assets.

Robby is in the underwriting phase of the deal right now and we’ll keep you posted down the road as the process evolves.

As always send you questions to [email protected].

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

Cheers,

Chase & Robby

This week we are bringing you an interview with Tyler Carter from, NuView IRA.

NuView IRA is an administrator for self directed IRA plans. These plans allow investors to direct their retirement investments into alternative asset classes beyond the standard stocks, bonds, and mutual funds commonly associated with retirement planning.

Tyler tosses out an early statistic that was quite a shock to the Note MBA guys that only 2% of the population is aware that their retirement account can invest in asset classes outside of the stock market.

Most of this statistic can be attribute to the failure of our society to financially educate the population at large, but honestly is more a direct correlation to your social status and personal network.

A great point that Tyler makes is that when your funds are trapped inside your employer’s 401(k) plan you have to order off of that employer’s “menu” of options. These menus tend to be limited to stocks, bonds, and mutual funds.

However, once you separate from that employer you can order outside of that “menu” by placing those funds into a self directed IRA and opening your retirement investing up to a variety of asset classes previously off limits in your 401(k).

If you’re listening to this show and you don’t have a self directed IRA we truly hope this episode compels to start your due diligence into opening up your own self directed IRA account.

Additionally, it should be your responsibility to share the power of a self directed IRA with five other members of your personal network and help expand the trickle down effect of this powerful tool for retirement investing.

Note: 2015 IRA limits are $5,500 if you’re under 50 years of age, and $6,500 over 50 years of age.

Tyler also mentions the higher levels of investment limits if you are self-employed, something you should look into if you’re running your own business.

The free e-guide Tyler mentions can be found at: www.nuviewira.com

Tyler can be reached via e-mail: [email protected]

As always send you questions to [email protected].

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

Cheers,

Chase & Robby

Have you ever wished you could get some help with your due diligence when you get a new list of assets in your e-mail?

Today we have an interview with fellow note investors, Liz Brumer and Dennis Smith, of Note Investing Club.

Liz kicked off her start in real estate as a response to a book her sister sent her: Rich Dad Poor Dad by Robert Kiyosaki. The pair has experience with wholesaling, fix ‘n flips, as well as notes.

Note Investing Club is an exclusive member’s only website that allows note investors to access a VA training program to assist with the process of due diligence for non-performing notes. Members have access to a wealth of resources that provide the tools to train your VA to handle the due diligence needs of the average note investor.

If you’re busy balancing your 9 to 5 then Note Investing Club has a partner site that can handle the scrubbing of your tape for you called Tape Techs.

For a reasonable fee Tape Techs can turn around your due diligence in 48-72 hours, there is even an option for a 24 hour turn around if you’re wiling to pay a small premium as pricing is based on a per asset model.

Our kind guests have offered up a 25% discount to anyone that uses the code “NOTEMBA” (yes, all caps, the code is case sensitive) for a tape scrub via Tape Techs.

Take some action and give the site a test drive, as this offer will expire on August 15, 2015.

As always send you questions to [email protected].

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

Cheers,

Chase & Robby

Challenges are simply opportunities for improvement. Robby has been having a bit of a hard time with communication between a few of his vendors.

As he openly admits we all know these challenges are going to arise, but it is still frustrating when they do. He owns the fact that there is room for him to improve his communication with these same vendors and that may be all the situation needs.

However, there can be a serious financial impact when these challenges lead to delays in your ability to move a deal forward.

With a single loan having the potential for costs to run nearly $1,000 a month, or $30 a day, these delays can mount up over a portfolio. If delays occur on 10 loans a month out of a 50-loan portfolio, you will be costing your business nearly $120,000 a year in lost potential profit.

That is a lot of cheddar.

Chase takes us into a great conversation about being an expert. And how to hack the 10,000 hours everyone says you need to invest to become an expert.

The motivation came from having a good weekend of reading and he dove deep into the book: Black Hole Focus: How Intelligent People Can Create a Powerful Purpose for Their Lives.

Chase goes over the four key areas identified to help you hack your way through the 10,000-hour rule.

Skip ahead to minute 19 and catch the start of this topic.

Check us out on Periscope to catch us recording live and hear what we talk about before the show is released every Wednesday.

Just download the Periscope app, and search for Chase Thompson (ChaseTh) & Robert M Woods (TheRightRobert).

As always send you questions to [email protected].

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

Cheers,

Chase & Robby

This week Chase and Robby record the show on Periscope for the first time. Chase mentioned Periscope, and the power of the app in his breakdown of 24 Real Estate Marketing Tools webinar.

Go download the app, search out Chase Thompson and Robert Woods, to follow them and  keep up over there.

After they get Periscope working, Chase and Robby dive in on the main topic of today's show, Goal Review.

Though, the guys wanted to cover their goals midyear, the catalyst for covering them on the show was a snapshot Robby found. It was a shot Chase took from a yellow pad with the goals for the show written down.

Thanks to you, and everyone who listens to the show, Note MBA has exceeded the goals for the year.

As long as you are alive, you will either live to accomplish your own goals and dreams or be used as a resource to accomplish someone else's.

Robby has been listening to Grant Cardone's 10X Rule, and that fueled our thoughts on setting higher standards for our goals. One of the main take-aways Robby has gotten from the book is the importance of talking about your business.

Hustle until you down have to introduce yourself.

Between meditation, date nights, financial numbers, etc. Chase and Robby have been crushing it this year. What does your midyear goals review look like?

Robby also points out that some of his goals, that he hasn't done so well on, were things that he wants, but not with passion. Just putting stuff down on paper isn't enough.

And you'll quickly see things you truly want separate from things that would just be nice to have.

As always send you questions to [email protected].

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

Cheers,

Chase & Robby