In this episode of the Real Estate Hustlers podcast, Scott Carson discusses distressed debt investing, revealing strategies for building wealth through buying debt at a discount.
Scott, an active real estate investor since 2001, emphasizes that instead of rehabbing properties they rehab the bar. Scott started a mortgage company with a buddy back in 2004 where he learned about creative financing and how to evaluate and create paper.
Scott highlights the importance of LinkedIn for finding deals, where you can connect with Special Asset Managers, Secondary Marketing Managers, and Whole Loan Traders at lending institutions to identify opportunities. Scott says that buying distressed debt offers more flexibility in working with homeowners and potentially keeping them in their homes.
However, Scott does warn against investing in certain markets like Chicago, where eviction processes can be difficult. Scott prefers states with faster foreclosure timelines.
Scott discusses examples of successful deals, including buying a portfolio of hard money loans in Chicago at a discount and identifying opportunities in multifamily properties. And emphasizes the importance of due diligence, including analyzing servicing notes and market conditions.
Scott talks about the market declines and the record defaults on auto debt, credit cards, and student loans. And warns that this will lead to defaults on the mortgage side.
Distressed debt investing offers unique opportunities, but it requires knowledge, due diligence, and a strategic approach. Scott's insights provide a valuable roadmap for anyone interested in exploring this area of real estate investing.
🔥On this Real Estate Hustlers Podcast episode, Scott Carson is a highly sought-after guest and host of the popular podcast, the Note Closers Show. An active entrepreneur, he is an expert in real estate investing, raising capital and marketing. He speaks regularly at different events and industry conventions focused on real estate, marketing, and podcasting. He also helps thousands of investors and entrepreneurs each year create wealth through his debt buying classes, podcasts and coaching. An avid sports fan, he spends his free time travelling, gardening, and making memories. He calls Austin, Texas, home.
If you love what you are listening to, then make sure to check out the #1 podcast for note investors by listening to The Note Closers Show!
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