Hey Note Closers! Scott Carson here, ready to share some hard-earned wisdom to help you avoid the pitfalls many note investors fall into. Based on two decades of experience, I've identified the 11 most common mistakes, and I'm here to show you how to sidestep them and unlock true note investing success.
The 11 Biggest Mistakes:
This episode isn't about bashing anyone; it's about empowering you with the knowledge to avoid costly errors and maximize your returns. Here are the 11 mistakes to avoid:
- Only Bidding Based on Bank Balance: Don't let your available funds limit your bidding. Explore multiple funding options and bid aggressively.
- Not Marketing for Private Money: Actively seek private money lenders. Don't wait for the "perfect" deal; start marketing before you have a deal secured.
- Not Building an Email Database: Develop an email list of contacts and investors to stay top-of-mind and consistently promote deals.
- Only Bidding on One Asset: Bid on multiple properties to increase your chances of acceptance.
- Making Ridiculously Low Ball Bids: Don't undervalue assets; find a balance between aggressive and reasonable offers.
- Only Targeting Your Local Market: Expand beyond geographical limitations and explore deals across a wider region.
- Focusing Only on "Fast" Foreclosures: Diversify your portfolio to include a range of note types, including performing notes with strong cash flow.
- Using Only One Exit Strategy: Develop multiple exit strategies (foreclosure, modification, etc.) to handle unexpected situations.
- Marketing to Bad Leads: Don't waste time or money on leads that are unlikely to yield success. Target banks, lenders and build your own qualified list.
- Starting as a Wholesaler: Don't jump into wholesaling without a strong marketing strategy and funding in place.
- Relying on a Single Lead Source: Diversify your lead sources to avoid being limited by a single vendor.
Avoid These Mistakes and Unlock Your Potential:
By learning from these mistakes, you can position yourself for greater success in the note investing world. Join our upcoming workshop to learn strategies for locating assets, raising capital, and executing deals profitably!
Learn More:
Attend our workshop on April 25-27 by signing up at HTTP://NoteBuyingForDummies.com!
Watch the original VIDEO HERE!
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