April 3, 2024 • 31 mins
Ever wondered how to turn real estate into a passive income powerhouse? That's exactly what Nathan Turner, our beloved Canadian note guy, and I unpack in this wealth-building bonanza of an episode. We start off with a chuckle over the universal parenting conundrum of getting our kids to wear coats in the chilly weather, before diving into the meaty topic of real estate notes. As we swap stories about our affinity for the live sports experience, you're bound to find a mix of practical financial wisdom and engaging personal anecdotes.
Switching gears, we sink our teeth into the juicy details of note investing and how it compares to the traditional landlord hustle. Nathan and I dissect the advantages of working with performing notes within a fund structure, providing a transparent look at the ease of management and the steady cash flow it brings. We don't shy away from the current challenges in raising capital either, addressing the objections we face head-on and emphasizing the importance of educating investors on the potential of actively managed retirement funds.
Resources and links discussed:
- Videocast on our YouTube Channel
- ANB Funds Website - https://anbfunds.com
- Diversified Mortgage Expo - https://buff.ly/3xfJqFO
About the Host:
Justin Bogard – Note Investor specializing in performing Residential Real Estate Debt. He finds deals and acquires them for his own portfolio as well as educates investors while walking them through the process of owning a Real Estate Note!
Connect with the Host:
Facebook - bethebank
Twitter - bethebank1
Instagram - bethebankpodcast
American Note Buyers - https://anbfunds.com/
Monthly Broadcast - https://youtube.com/playlist?list=PLzc944w1xydt5aLDrrEPHJhdJeDkBjjD4
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Narrator (00:19):
Thank you in real estate to create real wealth and
passive income for you and yourfamily.
He'll share stories of realestate investments done right,
walk you through the process ofowning a real estate note and,
most importantly, educate you soyou can be the bank this is Be
the Bank brought to you byAmerican Notebuyers.
Now here's your host, justinBogard.
Justin Bogard (00:42):
Now here's your host, Justin Bogard.
Hey, hey, hey, listener,Welcome back.
This is Season 6, Episode 7 ofthe Be the Bank Podcast brought
to you by American Notebuyers,and today I have a guest on, Mr
Nathan Turner.
He's been in the business forquite a while a lot longer than
(01:04):
I have and he's actually fromCanada, so he's known as the
Canadian note guy is kind ofwhat we dubbed him as.
So we're going to have some funconversations today, so stay
tuned.
Hey, what's up, Nathan?
Nathan Turner (01:22):
Hey, how are you?
Justin Bogard (01:25):
Well, I'm a little.
I don't know what the word is.
I don't know if the word ispeeved or what, but do you have
kids?
I do three, okay.
So I have two daughters, 10 and12.
And so my youngest one issomeone that perpetually just
refuses to wear a coat to school.
And I'm sure most kids are likethis.
(01:46):
So today is a is a colder daythan normal, and so it's about I
don't know 40 degrees right nowand there's a little bit of
wind.
And I talked about this morningcause we always check the
weather, cause they want to wearshorts or whatever, and I'm
like look, no-transcript, you'regonna be freezing.
(02:12):
Guess what happens?
About a few minutes beforewe're recording this podcast, I
get a call from the school andI'm thinking, oh my god, what is
going on?
And just her on the phone andall she says was can you bring
my coat?
Drop the phone going.
Are you kidding me?
So yeah, she's like it's reallycold outside.
I'm like I told you.
(02:33):
So I was like I'm sorry,sweetie, I just don't have the
ability to get over there andget your coat, so she's probably
just gonna hang out inside forrecess.
But anyways, that's that's howI'm feeling right now is a
little, a little uh peeved, Iguess, at her kids yeah, yeah.
So what are your kids?
Nathan Turner (02:51):
boys, girls, mix of both got my youngest is boy
and then two older girls, sothey're all teenagers now 18, 16
, 14 and uh, you know what.
They're actually pretty goodkids, but still same thing with
the coats this morning.
Uh, it's a little bit colderhere, not a whole lot negative
three celsius right now, sothat's like 28, 29, something
(03:13):
like that very night.
So I mean it's chilly, coldenough that you need a coat,
sure enough.
No, no, I'll be fine.
No, I'm good'm good, honestlykid.
Justin Bogard (03:24):
Yeah, anybody listening on the podcast right
now.
If you know of if your kids dothe same thing, go ahead and
comment on this.
By the way, we are recordingthis on our YouTube channel, the
American Notebuyers YouTubechannel, so you can check out
the stream of this and check outNathan's sick little tiger.
He got, he told me, from Korea,yeah, On his wall background
there.
Nathan Turner (03:51):
That art's pretty cool man.
So the the tradition in koreais you put that opposite of your
door so that evil spirits getscared away by the tiger, that's
.
Justin Bogard (03:56):
That's the I don't know.
I mean I was supposed to do.
I'm pretty far away from youright now and I'm kind of scared
looking at it.
Let's be an evil spirit, yeahit was actually.
Nathan Turner (04:04):
You know what I gotta tell you real quick yeah,
bogard, uh, it was a shortenedversion of borga, so borga, uh,
which is a french word.
Do you know what that means?
No, it's actually two words.
It means good looking.
There you go, good looking Ilike that.
Justin Bogard (04:22):
Can you dub me as that note guy, the good looking
guy?
I want to.
I want to have that title.
That's awesome.
Well, Nathan, thank you so muchfor being on the show today.
Like we've kind of teasedbefore you, you do live in
Canada.
I'm not sure what, what cityyou're from.
I want to say Calgary, but Idon't think that's right yeah,
(04:43):
just outside of Calgary.
Yeah, yes, yes, there's amassive land that I had to get
that down to for a guess.
Yeah, I did good.
So then are you a hockey fan.
Nathan Turner (04:54):
Yeah, no, I don't follow it anymore.
I did when I was younger.
Then I get older.
I just don't have time I, Ican't keep up with it, so I
watch it I, yeah, just actually.
Last week there was a highschool.
We've got two high schools intown.
We're just a small town and twohigh schools in town and and
(05:15):
they do an annual you knowcochran classic.
Where it's?
It's the two high school teams.
So we went to that and mydaughters were surprised at me,
at how much I got into andthey're like you don't really
watch sports.
I'm like I know, but I loveactually going to live sports
Like I can really get into it.
I love being there in the crowdand everything, and I do like
hockey.
I just don't watch it on TV Iget it.
Justin Bogard (05:38):
I think hockey is a cool sport, kind of like
soccer or football, depending onwhere you're from.
Yeah, um, kind of like socceror football, depending on where
you're from, yeah, but it'sdifficult for me to understand
what's going on.
Number one it's very fast andthe changing of the players
happen very quickly and veryoften, so it's hard to.
And then for me, the puck on TV.
I just can't follow it, yeah,so I just have to wait for guys
(05:58):
to throw up their sticks so Iknow there's a goal happening.
Yeah.
Nathan Turner (06:06):
You get used to it after you watch a little
while, I'm sure.
Justin Bogard (06:08):
Yeah, yeah, it does move very quickly.
That's a live event that Iwould.
I really want to go to see aprofessional hockey game
somewhere.
I live in indianapolis area inindiana, so we don't have a
professional team, we have somejunior teams yeah it's a
professional team, would be likechicago or columbus, ohio or, I
think, nashville and probablyst louis, I guess, and Detroit
would be the closest one.
So it's about a four tofive-hour drive just to go to a
(06:29):
game.
But yeah, I think it would becool to go on.
Nathan Turner (06:31):
It's a lot of fun .
I highly recommend it if youever get the chance.
Justin Bogard (06:35):
So how long have you been in note investing?
Nathan Turner (06:38):
I was introduced to the business back in 2008.
I took my first note class andwent to my first note conference
in 2009.
So that was kind of my, youknow, getting started.
That's when I first wasintroduced to it and started
getting going and I was blownaway Like what a cool business.
I'd been a landlord before thatfor a little bit and I'm like
why do people do this?
(07:00):
I like the cash flow, but man,I sure didn't like anything else
about it.
It was just a lot of work.
My property manager wasterrible and I had to
continually check up on them andsee what's going on.
So I didn't understand it.
I didn't know why peopleactually get into landlording.
It's a lot of work for not alot of money.
Justin Bogard (07:21):
Yeah, I agree, I fell on the sword onto a rental
when I was trying to flip ahouse and it was like, yeah,
this is not for me, can I figureout something else to do?
So I was in about 2016.
So eight years later than you,it's really when I got into note
investing, kind of full time.
(07:41):
So what's your favorite thingabout note investing, meaning
like a strategy or just you knowthe process of it, like what's
your favorite?
Nathan Turner (07:51):
Oh boy.
Well, so let's see, when Ifirst got started I was creating
notes.
So seller financing, creativefinance, whatever you want to
call it in Indiana Actually wedid a bunch in Indiana and Ohio
and then went from that tobuying non-performing notes and
I really like doing workouts andthings and, you know, working
(08:13):
with borrowers to figure outwhat their story is and see how
we can kind of come up with asolution.
Most recently I've shifted alittle bit again and now I'm
buying mostly performing notes,just because I've got fun now
and it's just so much easier tomanage in a fund having those
performing notes and way morepredictable for the investor.
(08:33):
They know, you know a muchbetter timeline of when they're
getting paid and how much.
Justin Bogard (08:39):
Yeah, I'm glad to hear you say that, because I
just started my first fund lastyear and it was that was my
mindset.
I have is like man.
I'm glad to hear you say thatbecause I just started my first
fund last year.
Yeah, and it was that was mymindset.
I have is like man.
I don't know if I should be50-50 with non-performing
performing or what.
So we just went all in onperforming and if we happen to
get some non-performers andwe'll move forward, but it does
make life a lot easier as thefund manager when it's
(09:01):
performing, that's for sure.
For sure.
Nathan Turner (09:10):
So just way easier to manage, far more
predictable for the investor andit's a great protection still.
So I think it's the way to goright now, and it's an
interesting thing because themarket shifts.
When non-performers wereplentiful, then yes, we were
definitely doing that, and ifthat becomes the case again,
case again.
Justin Bogard (09:27):
For sure, I'm happy to shift over and do that
again but for now, I think,performing notes really is the
way to go.
I agree, I love having you onthe show.
Let's just have you on everytime yeah no disagreements here.
How long have you had your fund?
Nathan Turner (09:38):
uh, mine's brand new too.
We just opened it, uh in juneokay also pretty, yeah, so
raising capital.
Justin Bogard (09:51):
I find it challenging nowadays for raising
capital in today's environment.
I think before COVID it seemedlike it was a lot easier to get
capital, or at least to findmoney that was looking for deals
, and now it seems like thingsare a little bit tighter, a
little bit harder to get theeducation now.
Do you find that the same foryou?
Nathan Turner (10:06):
Yeah, it's been tricky, and especially mine's a
506C.
I don't know if you're C or B,it's a.
Justin Bogard (10:13):
B yeah.
Nathan Turner (10:14):
B With the C.
It's a little bit tricky inthat I can only take on
accredited investors.
Justin Bogard (10:20):
Yeah, so that's been.
Nathan Turner (10:20):
My challenge is just getting in front of the
right people, getting in frontof those accredited and it's
really it's an easy thing toinvest in and it's easy to see
how it's cured and all thosekind of things.
It's just getting in front ofthat crowd.
So that's kind of the continualchallenge.
(10:41):
We're doing marketing for that,we're going to IRA conferences
and dental conferences andthings like that, just trying to
get people.
Justin Bogard (10:49):
What do you think the biggest pushback is for an
investor on why they wouldn'twant to invest in a passive
investment like a fund?
Or what do you think theirrestriction or challenge is to
move forward with?
Nathan Turner (11:03):
it.
For me, one of the biggestobjections is they want to be
more active.
They're looking for a higherreturn, and if you want a higher
return, you're going to have tobe active.
Yeah.
Which is fine.
I like to be active.
That's what I'm doing as well,so I understand that.
But that's the challenge is,they want that higher return,
(11:24):
and I totally get it.
But the way to do that is to bean active investor.
So that's or they just want tobe an active investor.
Yeah, I want to learn thebusiness.
Justin Bogard (11:38):
Great, just want to be an active investor.
Yeah, I want to learn thebusiness.
Great, here's somebody else,right, right, yeah, we're you
and I are actively in thepassive investment business.
Yeah, so I find the same thingas well.
It seems like there is asecurity blanket with people's
retirement account stuff towhere it's really tough for them
to make that decision andwhat's the best way forward.
And when they don't know whatto do, they just stop and they
keep it still and they I don'tthink they understand how not
(12:01):
moving the money forward whetherit's a very you know low cash
flowing investment or a riskierinvestment they they're they're
just really losing opportunityin ways that they can be making
money.
So I feel like the educationout there is so disseminated to
where it's really tough forpeople to understand, like,
(12:22):
what's truth, what's not?
Just because you have a lot ofpeople that are posing out there
when they send out informationand I can see the consumer, the
investing consumer, havingchallenges and hesitations on
moving forward with certainindividuals.
Yeah, because there's so many ofus out there and some of us
doing different things in realestate, like you and I are
investing in notes.
(12:42):
We got, you know, apartmentsyndicators.
You know, we got single familyguys, we got people raising
capital for retail space andcommercial stuff.
Nathan Turner (12:50):
So yeah, yeah, it's the right thing to invest
in.
And really the answer is thereisn't the best thing there's.
Yeah, it's all so much of itcomes down to preference.
What do you want to do?
And if if you're, if you like,note investing and you think
it's really cool, but you justdon't have the time or the
energy to put into it, do itpassively.
Justin Bogard (13:09):
I mean, that's the way to go yeah, I I kind of
agree with what you're sayingand I'll kind of add to it to
where it feels like the investorreally has to like the
investment that the fund isinvesting in or type of
investments.
And then, secondly, they reallyneed to like you as the manager
.
They need to understand likethis person knows what they're
(13:31):
talking about.
They have our best interest inthe minds of the fund and I
don't think investors realizelike we don't really make any
money unless we do well in thefund.
It's not, it's not like we justtake the money and okay, yeah,
we're, we're wealthy now.
No, it doesn't work that way atall.
We have to perform for us tomake good money.
Nathan Turner (13:48):
Yeah, that's exactly it.
Yeah, yeah, yeah.
I don't get paid until they getpaid, and in fact I get paid
after they get paid.
Justin Bogard (13:54):
So it's a very small monthly payment I get
until.
Narrator (13:58):
I can.
Justin Bogard (13:59):
I can liquidate the fund Right, yeah, yeah.
So the diversified mortgageexpo is kind of your baby.
Now, that's how long have youbeen taking this over?
So this is my second yearrunning it.
Nathan Turner (14:10):
It's the ninth annual for the conference itself
, but, but yeah, just my secondyear running it.
Uh, it's the ninth annual forthe conference itself, but, uh,
but yeah, just my second year.
So it's my wife and I took itover last year.
So liz and I gotta give a bigshout out.
Liz and kimberly uh, lizbrimmer smith and kimberly banks
fawn said they had it before meand they did such a fantastic
job.
Uh, but they both just decidedjust wasn't for that for
(14:30):
different reasons, and that'stotally fine.
Yeah, you know, liz approachedme and asked if I'd be
interested in taking it over.
Are you kidding me?
Like what an opportunity jumpedat that.
Uh, because you know, like Isay, my first note conference
was 2009 and I've gone to awhole bunch of conferences since
(14:51):
then.
Uh, and the reason is and theygot to the point where I was
going to go to another one andI'd say to my wife I don't know,
I'm tired, I don't really wantto go, like you know, is there
really a reason for me to go?
And she would remind meconstantly.
Listen, every time you come homefrom any of these conferences
you go to, you know, you comehome with a new contact or you
(15:14):
know something, a new vendor orsomething, somebody that you met
or somebody said something thattriggered something for you or
something like that, and everytime our business improves I'm
like, yeah, okay, all right,fine, and then she's been so
gracious about just kind ofsupporting me and leaving the
family for a few days that I'maway.
But she's right, every time Igo it's just been an improvement
(15:39):
to the business in one way oranother.
And so I'm a huge, hugebeliever in conferences.
It's not just my own, but justan intending anybody's
conference I can go to, becauseit's so valuable just to get out
there face to face, shake hands, go to dinner, all those kinds
of things Like it just makessuch a difference.
Justin Bogard (15:59):
Yeah, I agree that the networking alone, I
think, is the most valuable part, next to the some of the topics
the speakers haven't.
You know, I've been in thebusiness for for eight, eight
years or so now.
You've been in the business 16plus years now and it is cool
how you you still learnsomething from somebody else.
Oh, that technique isinteresting.
I didn't realize that.
Or, hey, that's a cool metricto, you know, gauge whether
(16:20):
you're profitable or not, youknow.
And looking at it through adifferent lens, so yeah, it's,
it's very valuable, I think, togo to conferences.
I don't travel to too many ofthem just because I try to.
I try to stay home more and uh,but I do travel to one or two a
year.
Typically, you know,religiously, one or two a year,
but outside of that I don't do awhole lot of them.
I, in my first year in notes, Ifound myself going to
(16:42):
everything and I was like, waita minute, like I spent quite a
bit of money here going to allthese conferences and stuff.
I better, you know, reel thatback a little bit.
Yeah because none of them areclose to indianapolis, so I'm
usually having to fly somewhere,then hotel and all that stuff,
and then covet hit and, I think,the online conferences.
It did help, but it wasn't thesame no, it's really awesome.
Nathan Turner (17:03):
Yeah, and and again, you know the online stuff
.
It's all good, and even thislike it's good and it helps to
reach a lot of people at once,but, man, there's just no
substitute for gettingface-to-face with somebody.
Justin Bogard (17:16):
So how long does it take to prepare for the next
diversified mortgage expo?
So I think yours is coming uphere at the end of May, early
June.
Nathan Turner (17:25):
Yeah, yeah, may 31st, june 1st, down in
Nashville, and uh, we so lastyear was the same timing, it was
June 2nd and 3rd and then.
So we basically kind of didn'tthink about it for the summer.
We, we took about a week andjust kind of debriefed, made a
whole bunch of notes about youknow what went well, what things
we'd want to do better, uh, oryou know, or at least change or
(17:48):
something like that, and uh, sothere's, like I said, about a
week of that, uh, just kind ofdebriefing.
We picked it back up inSeptember.
Justin Bogard (17:59):
Oh, wow.
Nathan Turner (18:00):
The reason is we had some of our vendors, people
that we wanted to come to theconference.
They told us that they do theirmarketing budgets the last
quarter of the previous year.
So I'm like, oh okay, good toknow.
So we again revamped, kind ofwhat we're offering for
sponsorships and put, put thatout I think it was late
(18:21):
september or the october just sowe can get into that last
quarter for those, those peoplethat that affected and sure
enough, you know there wereseveral that hadn't been able to
come the year before becausetheir budget was already spent,
and so then now they are coming,which is fantastic so that
makes total sense really youwe're talking about nine months
out.
(18:41):
We start planning it and startdoing something about it and it
just as you get closer.
Of course there's different,different things you got to do,
but yeah, it's a lot of work,man there's.
There's a lot that goes into it, for sure.
Justin Bogard (18:54):
Yeah, it's I couldn't imagine and I know
offline you talk about it.
You you said it's just a lot offun to do that and I'm thinking
I'm sure it's fun, like maybemaybe when you're not having to
scramble and get all thelogistics taken care of for
hotel food speakers lineup.
I'm sure after that's done yeah, I bet it is, it is fun.
But yeah, I'm sure it's kind ofkind of hectic there for a
(19:15):
while.
Nathan Turner (19:25):
So I assume you have help and people that are
assisting you with you know,making decisions and setting up
stuff.
You know some, but really thebulk of it is just my wife and I
.
Okay, so last year, especiallybeing the first year, oh yeah,
that was a lot, so we feel likewe're seasoned pros.
Now we've got down pat.
And then the other added bonusis this year, um, my middle
daughter is coming out and soshe's 16, so she doesn't have
final exams yet or anything likethat grade 11.
So she's got a little morebandwidth to uh, to come out and
(19:48):
help us.
You know, whatever she's, uh, Ithink her role is going to be
to change slides for the nextspeaker.
That's going to be one of hermajor things.
But just a runner in general,which is fantastic, so that's
going to be good.
Justin Bogard (20:02):
That's awesome.
So I know that one of your Idon't know we say niches but one
of your specific things you tryto tell investors is like it's
a no, no, sales pitch type ofconference.
Yeah, I don't think a lot ofthem are anymore, but definitely
they're there.
It's nice to know up front thatyou're not going to run into um
(20:24):
, you know people that havecommission breath.
Nathan Turner (20:27):
That's what I say no, exactly, exactly no, and
and I'm very strict about that.
In fact, we had one speakerthat wanted to come and and when
we talked about you know whathe would talk about, he's like,
well, I'm afraid it would comeacross as pitchy, and so I said,
well, thanks for being honest.
Then no, so you know he's, he'snot gonna.
(20:47):
He's gonna come and attend, buthe won't be speaking.
Uh, just because we want toavoid that at all costs, we're
happy to have, you know, people,obviously people in their
business.
This is what they do.
So they'll talk about what theydo, but you'll never hear.
You know, conference special.
Only you know under the back ofthe room that that's just not
(21:08):
what we do.
Justin Bogard (21:09):
I agree with that .
I think that that is a,especially when you're paying,
you know, a sizable amount ofmoney to to go there for the
weekend and stuff.
You don't want to feel likesomebody's objective is to, you
know, kind of shove theiropportunity down your throat,
like, okay, you have vendors andexhibitors out here that you
know that if you want to learnmore about what they do and how
to benefit from it, absolutely,you know, have that conversation
(21:29):
.
But yeah, I don't like it whenpeople come forward and are just
trying to sell on stage andstuff person that probably gives
away too much information forfree, like we have, you know,
endless videos and content onour YouTube channel and you know
doing this podcast for sixseasons now and stuff, which,
which I appreciate it, becausewhen I got in the business which
I'm sure, like when you did,there's a ton of people that
(21:52):
just gave me a huge amount oftheir time and knowledge that
just hand it down to me.
I'm like, my goodness, like Igot, you know, gold sitting here
.
So I'm always trying to pass itforward, but sometimes I feel
like I pass it.
I've passed too much forward.
It don't take a little formyself.
Nathan Turner (22:13):
I totally get that.
And then you know one of themain questions anytime you're
talking to somebody about notes,I'm like, oh, that sounds
amazing.
So where do you find them?
And like that's like probablythe only information that I'm
not going to share it, and it'spartly I'm not going to share it
, but more than that, honestly,you know I meet them at
conferences.
That's the answer.
I know that sounds like you know, a self-serving kind of a thing
, but it's the truth.
(22:33):
That's where I meet the peoplethat are selling notes and
that's where those kinds ofrelationships are made.
Justin Bogard (22:38):
Yeah, it's notes, and that's that's where those
kind of relationships are made.
Yeah, it's like uh, you seethat bank down the street over
there.
Just go in there and knock on,go find the manager and ask them
to sell you a note it.
Yeah, that doesn't work thatway yeah, good luck.
Nathan Turner (22:49):
If you got 100 million dollars, then they might
listen to you, but other thanthat, no, yeah, I totally get
that.
Justin Bogard (22:55):
no, that's cool, so yeah, so congratulations on
taking over the diversifiedmortgage expo and, like you said
, it was uh, you want to go andplug that again the and then
where people can go to getconference, uh, tickets and
information.
Nathan Turner (23:08):
Yeah, diversified mortgage expocom.
That's got all the information.
So, and tickets, all that stuff.
One thing I'll just mentionthat's the another kind of thing
that we do.
So one of the things I didn'tpost about this today actually
on social media but one of thethings that I've found is you
know we all talk about, you dobusiness with people you know,
(23:29):
like and trust.
So my aim is to help at leastwith the first two.
Let's get to know and like eachother.
So one of the things we do isthe night before the conference
this is included in your ticketthere's an axe throwing
competition.
So we go to the axe throwingplace downtown and we're limited
(23:50):
to about 50 people that cancompete.
So if you want to compete, makesure you sign up early and then
you can compete and become theaxe throwing champion the DME
axe throwing champion for thatyear, to be taken down next year
.
Justin Bogard (24:03):
I think that's worth the price of admission.
Right there is just to do that.
That sounds like a lot of fun.
I've seen people do it onsocial media all the time.
I've never actually done it,but it looks like a lot of fun.
Nathan Turner (24:12):
It's a ton of fun and honestly nobody's that good
at it, and then we can justhave fun together.
Justin Bogard (24:21):
So if you hit the wood target and in any way it's
like that, that's a great throwyes, for sure, if it sticks in
the wood.
You man, congratulations,that's good you feel like a
viking at that point right yeahexactly that skill, yeah.
So what is it the?
So you're basically, uh,hopefully, hopefully, running on
.
I want to say, like you know,car crews here to get to the
(24:46):
mortgage expo, or is there a tonof stuff that still needs to be
done on your part as logisticsfor you and your wife to make it
happen?
Cruise control is what I wastrying to say.
Nathan Turner (24:55):
Yeah, no, we've got.
I'm just looking at my listhere.
This is follow up tomorrow.
I've got to just nail down therest of my speakers and I got a
few more sponsorships I want tohelp people get into if they're
interested.
But other than that, you knowit's it's pretty scheduled out.
We've got this spreadsheetwhere we we look at you know, uh
(25:15):
, three months out, do thesethings, and two months I do
these things, in five weeks I dothese things and all that kind
of thing.
And so we've got that prettydone then.
So it's just kind of follow theformula and we keep track of
that.
We meet to my wife and Iobviously we meet together often
on that and just kind of makesure we're staying on top of it.
So she does things, I do thingssplit up and divide and conquer
.
Up and divide and conquer.
Justin Bogard (25:41):
So you brought up something about speakers and it
jogged something in my memorythat I was going to ask you is
how do you know what arerelative or good topics for
speakers to come in and talkabout on specific, specific
subject matter?
Because sometimes I think someconferences they start
overlapping with stuff and itjust seems kind of kind of like
okay, yeah, okay, yeah, that'sthat's stuff we already know, or
like yeah, how do you organizethat?
Nathan Turner (26:04):
so it's a combination of things like,
first of all, I think it wouldbe like questions that I'm asked
, so if people are kind ofgetting started and what kind of
questions do I hear, and then Itry to get a speaker or a panel
together around that topic.
Other things dave and I do ourour podcast and we have
different people come on.
So often we have people come onso that we can learn about
(26:26):
whatever it is they're speakingabout.
Justin Bogard (26:28):
Yeah, so sometimes it's not.
That's a good point, yeah.
Nathan Turner (26:32):
So sometimes it's that it's just like stuff that
I don't know about yet and soI'd like to learn.
And so, same thing, I'll haveput together either a speaker or
panel to come and talk aboutthat thing so we can all learn
about it and see how we canimprove.
And then just I don't know, Ikind of again, my wife and I
kind of talk about it togetherand debate, and then I just talk
(26:54):
to other node investors and say, hey, what do you think of any
specific topics you think weshould cover this year, and just
kind of gather ideas and I dothat kind of throughout the year
.
One for example I know I wastalking with another known
investor friend and one that wehad floated.
But we're not going to do thisyear, I think we'll, we'll have
(27:14):
to wait till next year.
We're the title of the I thinkit would be a panel.
We'll call it wild workouts andjust kind of stories of of
different workouts that peoplehave done and you know how
they've done it, and kind ofshare some stories of of
different creative things peoplecome up with on how to make
these workouts happen.
So yeah, I like the panel thisyear, but we'll we'll put it in
(27:37):
next time.
Justin Bogard (27:38):
I like the panels and then there's certain
national speakers that I'm notgoing to name you off the top of
my head or anything, but thatalways finds stuff that's really
interesting to me.
It's usually the attorneys orthe people in the self-directed
IRA the stuff, because youalways hear misinformation.
You hear this out there, butthen you hear the opposite
(28:00):
misinformation like you hearthis out there, but then you
hear the opposite and just likewhat is actually the truth and
what will someone confidentlyget on stage and say this is,
this is the the legal way to doit?
You know this is very uh.
Yeah, I always like to listento those for sure.
Nathan Turner (28:10):
So, like we've got uh the on the legal side,
one of my favorite speakers,jeff watson.
He's coming.
He's going to talk to us and Ilove listening to him and just I
can.
Every time I listen I just feellike I'm learning something.
You know they've got, I mean,somebody from uh mortgage
bankers association's comingtelling us about you know what
they see coming down the pipeand we've got gosh, so many.
(28:32):
We're going to do a tech paneltalking about different
technologies that are being usedtoday.
We've got a guy that guy thatI'm using actually for marketing
, for raising capital he's goingto come speak to us and some
tips and tricks on how you getyourself out there and how you
get noticed on social media in anon salesy way.
(28:52):
Yeah, just to you know, getyourself known.
So all kinds of things that'stip of the iceberg, but there's
all kinds of things that's tipof the iceberg, but there's all
kinds of things we're going tocover.
Justin Bogard (29:01):
That's cool.
Well, you guys need to checkout a divert diversified
mortgage expocom.
Is that correct?
Yeah, that's right.
And to get all the ticketinginformation and and who's going
to be there the assuming theexhibitors and the speakers list
is probably already out there.
Yeah, the exception of whateveryou're going to add here, in
the last last month or two yeah,we'll keep adding here.
Nathan Turner (29:21):
Excuse me, yeah, my part of that is tomorrow.
I'm set aside some time so Ican kind of finalize a few
people that have said yeah, Ithink I can make it with him
hauling around.
Justin Bogard (29:31):
Give me a yes or no exactly, yeah it's go time,
baby nathan.
Thanks so much for being on thepodcast today.
Yeah, appreciate, uh, knowingyou in the business and you know
reciprocating the favor fromwhen I was on your podcast with
Dave earlier last year.
Narrator (29:47):
Yeah.
Justin Bogard (29:48):
I had a lot of fun doing that.
Encourage you guys to checkthat out as well.
You do that on a weekly basis,is that right.
Every other week.
Every other week, okay, it's onFriday.
Nathan Turner (29:58):
Yeah, friday is noon Eastern.
Uh, and yeah, every other weekjust.
And, like I say, we bring onpeople that either something we
don't know about, or people thatare in business doing something
.
Um, it's, it's fun, we like it.
Justin Bogard (30:13):
And that's on JKP holdings.
Uh, facebook group.
That's right.
Yeah, all right, look that up,check it out.
So, nathan, thanks again forbeing on the show today.
This was episode number sevenof season six on the Be the Bank
podcast, and we will see youguys in the next episode.
See ya, thank you.
Narrator (30:36):
Thanks for listening to Be the Bank.
We hope you learned somethingfrom today's show.
If you enjoyed this episode,please rate and review us.
Plus, check out our channel onYouTube and follow us on
Facebook and Twitter at Be theBank, and on Instagram at Be the
Bank Podcast.
Be the Bank is sponsored byAmerican Notebuyers.
Thanks again for listening.
Thank you in real estate to create real wealth and
passive income for you and yourfamily.
He'll share stories of realestate investments done right,
walk you through the process ofowning a real estate note and,
most importantly, educate you soyou can be the bank this is Be
the Bank brought to you byAmerican Notebuyers.
Now here's your host, justinBogard.
Justin Bogard (00:42):
Now here's your host, Justin Bogard.
Hey, hey, hey, listener,Welcome back.
This is Season 6, Episode 7 ofthe Be the Bank Podcast brought
to you by American Notebuyers,and today I have a guest on, Mr
Nathan Turner.
He's been in the business forquite a while a lot longer than
(01:04):
I have and he's actually fromCanada, so he's known as the
Canadian note guy is kind ofwhat we dubbed him as.
So we're going to have some funconversations today, so stay
tuned.
Hey, what's up, Nathan?
Nathan Turner (01:22):
Hey, how are you?
Justin Bogard (01:25):
Well, I'm a little.
I don't know what the word is.
I don't know if the word ispeeved or what, but do you have
kids?
I do three, okay.
So I have two daughters, 10 and12.
And so my youngest one issomeone that perpetually just
refuses to wear a coat to school.
And I'm sure most kids are likethis.
(01:46):
So today is a is a colder daythan normal, and so it's about I
don't know 40 degrees right nowand there's a little bit of
wind.
And I talked about this morningcause we always check the
weather, cause they want to wearshorts or whatever, and I'm
like look, no-transcript, you'regonna be freezing.
(02:12):
Guess what happens?
About a few minutes beforewe're recording this podcast, I
get a call from the school andI'm thinking, oh my god, what is
going on?
And just her on the phone andall she says was can you bring
my coat?
Drop the phone going.
Are you kidding me?
So yeah, she's like it's reallycold outside.
I'm like I told you.
(02:33):
So I was like I'm sorry,sweetie, I just don't have the
ability to get over there andget your coat, so she's probably
just gonna hang out inside forrecess.
But anyways, that's that's howI'm feeling right now is a
little, a little uh peeved, Iguess, at her kids yeah, yeah.
So what are your kids?
Nathan Turner (02:51):
boys, girls, mix of both got my youngest is boy
and then two older girls, sothey're all teenagers now 18, 16
, 14 and uh, you know what.
They're actually pretty goodkids, but still same thing with
the coats this morning.
Uh, it's a little bit colderhere, not a whole lot negative
three celsius right now, sothat's like 28, 29, something
(03:13):
like that very night.
So I mean it's chilly, coldenough that you need a coat,
sure enough.
No, no, I'll be fine.
No, I'm good'm good, honestlykid.
Justin Bogard (03:24):
Yeah, anybody listening on the podcast right
now.
If you know of if your kids dothe same thing, go ahead and
comment on this.
By the way, we are recordingthis on our YouTube channel, the
American Notebuyers YouTubechannel, so you can check out
the stream of this and check outNathan's sick little tiger.
He got, he told me, from Korea,yeah, On his wall background
there.
Nathan Turner (03:51):
That art's pretty cool man.
So the the tradition in koreais you put that opposite of your
door so that evil spirits getscared away by the tiger, that's
.
Justin Bogard (03:56):
That's the I don't know.
I mean I was supposed to do.
I'm pretty far away from youright now and I'm kind of scared
looking at it.
Let's be an evil spirit, yeahit was actually.
Nathan Turner (04:04):
You know what I gotta tell you real quick yeah,
bogard, uh, it was a shortenedversion of borga, so borga, uh,
which is a french word.
Do you know what that means?
No, it's actually two words.
It means good looking.
There you go, good looking Ilike that.
Justin Bogard (04:22):
Can you dub me as that note guy, the good looking
guy?
I want to.
I want to have that title.
That's awesome.
Well, Nathan, thank you so muchfor being on the show today.
Like we've kind of teasedbefore you, you do live in
Canada.
I'm not sure what, what cityyou're from.
I want to say Calgary, but Idon't think that's right yeah,
(04:43):
just outside of Calgary.
Yeah, yes, yes, there's amassive land that I had to get
that down to for a guess.
Yeah, I did good.
So then are you a hockey fan.
Nathan Turner (04:54):
Yeah, no, I don't follow it anymore.
I did when I was younger.
Then I get older.
I just don't have time I, Ican't keep up with it, so I
watch it I, yeah, just actually.
Last week there was a highschool.
We've got two high schools intown.
We're just a small town and twohigh schools in town and and
(05:15):
they do an annual you knowcochran classic.
Where it's?
It's the two high school teams.
So we went to that and mydaughters were surprised at me,
at how much I got into andthey're like you don't really
watch sports.
I'm like I know, but I loveactually going to live sports
Like I can really get into it.
I love being there in the crowdand everything, and I do like
hockey.
I just don't watch it on TV Iget it.
Justin Bogard (05:38):
I think hockey is a cool sport, kind of like
soccer or football, depending onwhere you're from.
Yeah, um, kind of like socceror football, depending on where
you're from, yeah, but it'sdifficult for me to understand
what's going on.
Number one it's very fast andthe changing of the players
happen very quickly and veryoften, so it's hard to.
And then for me, the puck on TV.
I just can't follow it, yeah,so I just have to wait for guys
(05:58):
to throw up their sticks so Iknow there's a goal happening.
Yeah.
Nathan Turner (06:06):
You get used to it after you watch a little
while, I'm sure.
Justin Bogard (06:08):
Yeah, yeah, it does move very quickly.
That's a live event that Iwould.
I really want to go to see aprofessional hockey game
somewhere.
I live in indianapolis area inindiana, so we don't have a
professional team, we have somejunior teams yeah it's a
professional team, would be likechicago or columbus, ohio or, I
think, nashville and probablyst louis, I guess, and Detroit
would be the closest one.
So it's about a four tofive-hour drive just to go to a
(06:29):
game.
But yeah, I think it would becool to go on.
Nathan Turner (06:31):
It's a lot of fun .
I highly recommend it if youever get the chance.
Justin Bogard (06:35):
So how long have you been in note investing?
Nathan Turner (06:38):
I was introduced to the business back in 2008.
I took my first note class andwent to my first note conference
in 2009.
So that was kind of my, youknow, getting started.
That's when I first wasintroduced to it and started
getting going and I was blownaway Like what a cool business.
I'd been a landlord before thatfor a little bit and I'm like
why do people do this?
(07:00):
I like the cash flow, but man,I sure didn't like anything else
about it.
It was just a lot of work.
My property manager wasterrible and I had to
continually check up on them andsee what's going on.
So I didn't understand it.
I didn't know why peopleactually get into landlording.
It's a lot of work for not alot of money.
Justin Bogard (07:21):
Yeah, I agree, I fell on the sword onto a rental
when I was trying to flip ahouse and it was like, yeah,
this is not for me, can I figureout something else to do?
So I was in about 2016.
So eight years later than you,it's really when I got into note
investing, kind of full time.
(07:41):
So what's your favorite thingabout note investing, meaning
like a strategy or just you knowthe process of it, like what's
your favorite?
Nathan Turner (07:51):
Oh boy.
Well, so let's see, when Ifirst got started I was creating
notes.
So seller financing, creativefinance, whatever you want to
call it in Indiana Actually wedid a bunch in Indiana and Ohio
and then went from that tobuying non-performing notes and
I really like doing workouts andthings and, you know, working
(08:13):
with borrowers to figure outwhat their story is and see how
we can kind of come up with asolution.
Most recently I've shifted alittle bit again and now I'm
buying mostly performing notes,just because I've got fun now
and it's just so much easier tomanage in a fund having those
performing notes and way morepredictable for the investor.
(08:33):
They know, you know a muchbetter timeline of when they're
getting paid and how much.
Justin Bogard (08:39):
Yeah, I'm glad to hear you say that, because I
just started my first fund lastyear and it was that was my
mindset.
I have is like man.
I'm glad to hear you say thatbecause I just started my first
fund last year.
Yeah, and it was that was mymindset.
I have is like man.
I don't know if I should be50-50 with non-performing
performing or what.
So we just went all in onperforming and if we happen to
get some non-performers andwe'll move forward, but it does
make life a lot easier as thefund manager when it's
(09:01):
performing, that's for sure.
For sure.
Nathan Turner (09:10):
So just way easier to manage, far more
predictable for the investor andit's a great protection still.
So I think it's the way to goright now, and it's an
interesting thing because themarket shifts.
When non-performers wereplentiful, then yes, we were
definitely doing that, and ifthat becomes the case again,
case again.
Justin Bogard (09:27):
For sure, I'm happy to shift over and do that
again but for now, I think,performing notes really is the
way to go.
I agree, I love having you onthe show.
Let's just have you on everytime yeah no disagreements here.
How long have you had your fund?
Nathan Turner (09:38):
uh, mine's brand new too.
We just opened it, uh in juneokay also pretty, yeah, so
raising capital.
Justin Bogard (09:51):
I find it challenging nowadays for raising
capital in today's environment.
I think before COVID it seemedlike it was a lot easier to get
capital, or at least to findmoney that was looking for deals
, and now it seems like thingsare a little bit tighter, a
little bit harder to get theeducation now.
Do you find that the same foryou?
Nathan Turner (10:06):
Yeah, it's been tricky, and especially mine's a
506C.
I don't know if you're C or B,it's a.
Justin Bogard (10:13):
B yeah.
Nathan Turner (10:14):
B With the C.
It's a little bit tricky inthat I can only take on
accredited investors.
Justin Bogard (10:20):
Yeah, so that's been.
Nathan Turner (10:20):
My challenge is just getting in front of the
right people, getting in frontof those accredited and it's
really it's an easy thing toinvest in and it's easy to see
how it's cured and all thosekind of things.
It's just getting in front ofthat crowd.
So that's kind of the continualchallenge.
(10:41):
We're doing marketing for that,we're going to IRA conferences
and dental conferences andthings like that, just trying to
get people.
Justin Bogard (10:49):
What do you think the biggest pushback is for an
investor on why they wouldn'twant to invest in a passive
investment like a fund?
Or what do you think theirrestriction or challenge is to
move forward with?
Nathan Turner (11:03):
it.
For me, one of the biggestobjections is they want to be
more active.
They're looking for a higherreturn, and if you want a higher
return, you're going to have tobe active.
Yeah.
Which is fine.
I like to be active.
That's what I'm doing as well,so I understand that.
But that's the challenge is,they want that higher return,
(11:24):
and I totally get it.
But the way to do that is to bean active investor.
So that's or they just want tobe an active investor.
Yeah, I want to learn thebusiness.
Justin Bogard (11:38):
Great, just want to be an active investor.
Yeah, I want to learn thebusiness.
Great, here's somebody else,right, right, yeah, we're you
and I are actively in thepassive investment business.
Yeah, so I find the same thingas well.
It seems like there is asecurity blanket with people's
retirement account stuff towhere it's really tough for them
to make that decision andwhat's the best way forward.
And when they don't know whatto do, they just stop and they
keep it still and they I don'tthink they understand how not
(12:01):
moving the money forward whetherit's a very you know low cash
flowing investment or a riskierinvestment they they're they're
just really losing opportunityin ways that they can be making
money.
So I feel like the educationout there is so disseminated to
where it's really tough forpeople to understand, like,
(12:22):
what's truth, what's not?
Just because you have a lot ofpeople that are posing out there
when they send out informationand I can see the consumer, the
investing consumer, havingchallenges and hesitations on
moving forward with certainindividuals.
Yeah, because there's so many ofus out there and some of us
doing different things in realestate, like you and I are
investing in notes.
(12:42):
We got, you know, apartmentsyndicators.
You know, we got single familyguys, we got people raising
capital for retail space andcommercial stuff.
Nathan Turner (12:50):
So yeah, yeah, it's the right thing to invest
in.
And really the answer is thereisn't the best thing there's.
Yeah, it's all so much of itcomes down to preference.
What do you want to do?
And if if you're, if you like,note investing and you think
it's really cool, but you justdon't have the time or the
energy to put into it, do itpassively.
Justin Bogard (13:09):
I mean, that's the way to go yeah, I I kind of
agree with what you're sayingand I'll kind of add to it to
where it feels like the investorreally has to like the
investment that the fund isinvesting in or type of
investments.
And then, secondly, they reallyneed to like you as the manager
.
They need to understand likethis person knows what they're
(13:31):
talking about.
They have our best interest inthe minds of the fund and I
don't think investors realizelike we don't really make any
money unless we do well in thefund.
It's not, it's not like we justtake the money and okay, yeah,
we're, we're wealthy now.
No, it doesn't work that way atall.
We have to perform for us tomake good money.
Nathan Turner (13:48):
Yeah, that's exactly it.
Yeah, yeah, yeah.
I don't get paid until they getpaid, and in fact I get paid
after they get paid.
Justin Bogard (13:54):
So it's a very small monthly payment I get
until.
Narrator (13:58):
I can.
Justin Bogard (13:59):
I can liquidate the fund Right, yeah, yeah.
So the diversified mortgageexpo is kind of your baby.
Now, that's how long have youbeen taking this over?
So this is my second yearrunning it.
Nathan Turner (14:10):
It's the ninth annual for the conference itself
, but, but yeah, just my secondyear running it.
Uh, it's the ninth annual forthe conference itself, but, uh,
but yeah, just my second year.
So it's my wife and I took itover last year.
So liz and I gotta give a bigshout out.
Liz and kimberly uh, lizbrimmer smith and kimberly banks
fawn said they had it before meand they did such a fantastic
job.
Uh, but they both just decidedjust wasn't for that for
(14:30):
different reasons, and that'stotally fine.
Yeah, you know, liz approachedme and asked if I'd be
interested in taking it over.
Are you kidding me?
Like what an opportunity jumpedat that.
Uh, because you know, like Isay, my first note conference
was 2009 and I've gone to awhole bunch of conferences since
(14:51):
then.
Uh, and the reason is and theygot to the point where I was
going to go to another one andI'd say to my wife I don't know,
I'm tired, I don't really wantto go, like you know, is there
really a reason for me to go?
And she would remind meconstantly.
Listen, every time you come homefrom any of these conferences
you go to, you know, you comehome with a new contact or you
(15:14):
know something, a new vendor orsomething, somebody that you met
or somebody said something thattriggered something for you or
something like that, and everytime our business improves I'm
like, yeah, okay, all right,fine, and then she's been so
gracious about just kind ofsupporting me and leaving the
family for a few days that I'maway.
But she's right, every time Igo it's just been an improvement
(15:39):
to the business in one way oranother.
And so I'm a huge, hugebeliever in conferences.
It's not just my own, but justan intending anybody's
conference I can go to, becauseit's so valuable just to get out
there face to face, shake hands, go to dinner, all those kinds
of things Like it just makessuch a difference.
Justin Bogard (15:59):
Yeah, I agree that the networking alone, I
think, is the most valuable part, next to the some of the topics
the speakers haven't.
You know, I've been in thebusiness for for eight, eight
years or so now.
You've been in the business 16plus years now and it is cool
how you you still learnsomething from somebody else.
Oh, that technique isinteresting.
I didn't realize that.
Or, hey, that's a cool metricto, you know, gauge whether
(16:20):
you're profitable or not, youknow.
And looking at it through adifferent lens, so yeah, it's,
it's very valuable, I think, togo to conferences.
I don't travel to too many ofthem just because I try to.
I try to stay home more and uh,but I do travel to one or two a
year.
Typically, you know,religiously, one or two a year,
but outside of that I don't do awhole lot of them.
I, in my first year in notes, Ifound myself going to
(16:42):
everything and I was like, waita minute, like I spent quite a
bit of money here going to allthese conferences and stuff.
I better, you know, reel thatback a little bit.
Yeah because none of them areclose to indianapolis, so I'm
usually having to fly somewhere,then hotel and all that stuff,
and then covet hit and, I think,the online conferences.
It did help, but it wasn't thesame no, it's really awesome.
Nathan Turner (17:03):
Yeah, and and again, you know the online stuff
.
It's all good, and even thislike it's good and it helps to
reach a lot of people at once,but, man, there's just no
substitute for gettingface-to-face with somebody.
Justin Bogard (17:16):
So how long does it take to prepare for the next
diversified mortgage expo?
So I think yours is coming uphere at the end of May, early
June.
Nathan Turner (17:25):
Yeah, yeah, may 31st, june 1st, down in
Nashville, and uh, we so lastyear was the same timing, it was
June 2nd and 3rd and then.
So we basically kind of didn'tthink about it for the summer.
We, we took about a week andjust kind of debriefed, made a
whole bunch of notes about youknow what went well, what things
we'd want to do better, uh, oryou know, or at least change or
(17:48):
something like that, and uh, sothere's, like I said, about a
week of that, uh, just kind ofdebriefing.
We picked it back up inSeptember.
Justin Bogard (17:59):
Oh, wow.
Nathan Turner (18:00):
The reason is we had some of our vendors, people
that we wanted to come to theconference.
They told us that they do theirmarketing budgets the last
quarter of the previous year.
So I'm like, oh okay, good toknow.
So we again revamped, kind ofwhat we're offering for
sponsorships and put, put thatout I think it was late
(18:21):
september or the october just sowe can get into that last
quarter for those, those peoplethat that affected and sure
enough, you know there wereseveral that hadn't been able to
come the year before becausetheir budget was already spent,
and so then now they are coming,which is fantastic so that
makes total sense really youwe're talking about nine months
out.
(18:41):
We start planning it and startdoing something about it and it
just as you get closer.
Of course there's different,different things you got to do,
but yeah, it's a lot of work,man there's.
There's a lot that goes into it, for sure.
Justin Bogard (18:54):
Yeah, it's I couldn't imagine and I know
offline you talk about it.
You you said it's just a lot offun to do that and I'm thinking
I'm sure it's fun, like maybemaybe when you're not having to
scramble and get all thelogistics taken care of for
hotel food speakers lineup.
I'm sure after that's done yeah, I bet it is, it is fun.
But yeah, I'm sure it's kind ofkind of hectic there for a
(19:15):
while.
Nathan Turner (19:25):
So I assume you have help and people that are
assisting you with you know,making decisions and setting up
stuff.
You know some, but really thebulk of it is just my wife and I
.
Okay, so last year, especiallybeing the first year, oh yeah,
that was a lot, so we feel likewe're seasoned pros.
Now we've got down pat.
And then the other added bonusis this year, um, my middle
daughter is coming out and soshe's 16, so she doesn't have
final exams yet or anything likethat grade 11.
So she's got a little morebandwidth to uh, to come out and
(19:48):
help us.
You know, whatever she's, uh, Ithink her role is going to be
to change slides for the nextspeaker.
That's going to be one of hermajor things.
But just a runner in general,which is fantastic, so that's
going to be good.
Justin Bogard (20:02):
That's awesome.
So I know that one of your Idon't know we say niches but one
of your specific things you tryto tell investors is like it's
a no, no, sales pitch type ofconference.
Yeah, I don't think a lot ofthem are anymore, but definitely
they're there.
It's nice to know up front thatyou're not going to run into um
(20:24):
, you know people that havecommission breath.
Nathan Turner (20:27):
That's what I say no, exactly, exactly no, and
and I'm very strict about that.
In fact, we had one speakerthat wanted to come and and when
we talked about you know whathe would talk about, he's like,
well, I'm afraid it would comeacross as pitchy, and so I said,
well, thanks for being honest.
Then no, so you know he's, he'snot gonna.
(20:47):
He's gonna come and attend, buthe won't be speaking.
Uh, just because we want toavoid that at all costs, we're
happy to have, you know, people,obviously people in their
business.
This is what they do.
So they'll talk about what theydo, but you'll never hear.
You know, conference special.
Only you know under the back ofthe room that that's just not
(21:08):
what we do.
Justin Bogard (21:09):
I agree with that .
I think that that is a,especially when you're paying,
you know, a sizable amount ofmoney to to go there for the
weekend and stuff.
You don't want to feel likesomebody's objective is to, you
know, kind of shove theiropportunity down your throat,
like, okay, you have vendors andexhibitors out here that you
know that if you want to learnmore about what they do and how
to benefit from it, absolutely,you know, have that conversation
(21:29):
.
But yeah, I don't like it whenpeople come forward and are just
trying to sell on stage andstuff person that probably gives
away too much information forfree, like we have, you know,
endless videos and content onour YouTube channel and you know
doing this podcast for sixseasons now and stuff, which,
which I appreciate it, becausewhen I got in the business which
I'm sure, like when you did,there's a ton of people that
(21:52):
just gave me a huge amount oftheir time and knowledge that
just hand it down to me.
I'm like, my goodness, like Igot, you know, gold sitting here
.
So I'm always trying to pass itforward, but sometimes I feel
like I pass it.
I've passed too much forward.
It don't take a little formyself.
Nathan Turner (22:13):
I totally get that.
And then you know one of themain questions anytime you're
talking to somebody about notes,I'm like, oh, that sounds
amazing.
So where do you find them?
And like that's like probablythe only information that I'm
not going to share it, and it'spartly I'm not going to share it
, but more than that, honestly,you know I meet them at
conferences.
That's the answer.
I know that sounds like you know, a self-serving kind of a thing
, but it's the truth.
(22:33):
That's where I meet the peoplethat are selling notes and
that's where those kinds ofrelationships are made.
Justin Bogard (22:38):
Yeah, it's notes, and that's that's where those
kind of relationships are made.
Yeah, it's like uh, you seethat bank down the street over
there.
Just go in there and knock on,go find the manager and ask them
to sell you a note it.
Yeah, that doesn't work thatway yeah, good luck.
Nathan Turner (22:49):
If you got 100 million dollars, then they might
listen to you, but other thanthat, no, yeah, I totally get
that.
Justin Bogard (22:55):
no, that's cool, so yeah, so congratulations on
taking over the diversifiedmortgage expo and, like you said
, it was uh, you want to go andplug that again the and then
where people can go to getconference, uh, tickets and
information.
Nathan Turner (23:08):
Yeah, diversified mortgage expocom.
That's got all the information.
So, and tickets, all that stuff.
One thing I'll just mentionthat's the another kind of thing
that we do.
So one of the things I didn'tpost about this today actually
on social media but one of thethings that I've found is you
know we all talk about, you dobusiness with people you know,
(23:29):
like and trust.
So my aim is to help at leastwith the first two.
Let's get to know and like eachother.
So one of the things we do isthe night before the conference
this is included in your ticketthere's an axe throwing
competition.
So we go to the axe throwingplace downtown and we're limited
(23:50):
to about 50 people that cancompete.
So if you want to compete, makesure you sign up early and then
you can compete and become theaxe throwing champion the DME
axe throwing champion for thatyear, to be taken down next year
.
Justin Bogard (24:03):
I think that's worth the price of admission.
Right there is just to do that.
That sounds like a lot of fun.
I've seen people do it onsocial media all the time.
I've never actually done it,but it looks like a lot of fun.
Nathan Turner (24:12):
It's a ton of fun and honestly nobody's that good
at it, and then we can justhave fun together.
Justin Bogard (24:21):
So if you hit the wood target and in any way it's
like that, that's a great throwyes, for sure, if it sticks in
the wood.
You man, congratulations,that's good you feel like a
viking at that point right yeahexactly that skill, yeah.
So what is it the?
So you're basically, uh,hopefully, hopefully, running on
.
I want to say, like you know,car crews here to get to the
(24:46):
mortgage expo, or is there a tonof stuff that still needs to be
done on your part as logisticsfor you and your wife to make it
happen?
Cruise control is what I wastrying to say.
Nathan Turner (24:55):
Yeah, no, we've got.
I'm just looking at my listhere.
This is follow up tomorrow.
I've got to just nail down therest of my speakers and I got a
few more sponsorships I want tohelp people get into if they're
interested.
But other than that, you knowit's it's pretty scheduled out.
We've got this spreadsheetwhere we we look at you know, uh
(25:15):
, three months out, do thesethings, and two months I do
these things, in five weeks I dothese things and all that kind
of thing.
And so we've got that prettydone then.
So it's just kind of follow theformula and we keep track of
that.
We meet to my wife and Iobviously we meet together often
on that and just kind of makesure we're staying on top of it.
So she does things, I do thingssplit up and divide and conquer
.
Up and divide and conquer.
Justin Bogard (25:41):
So you brought up something about speakers and it
jogged something in my memorythat I was going to ask you is
how do you know what arerelative or good topics for
speakers to come in and talkabout on specific, specific
subject matter?
Because sometimes I think someconferences they start
overlapping with stuff and itjust seems kind of kind of like
okay, yeah, okay, yeah, that'sthat's stuff we already know, or
like yeah, how do you organizethat?
Nathan Turner (26:04):
so it's a combination of things like,
first of all, I think it wouldbe like questions that I'm asked
, so if people are kind ofgetting started and what kind of
questions do I hear, and then Itry to get a speaker or a panel
together around that topic.
Other things dave and I do ourour podcast and we have
different people come on.
So often we have people come onso that we can learn about
(26:26):
whatever it is they're speakingabout.
Justin Bogard (26:28):
Yeah, so sometimes it's not.
That's a good point, yeah.
Nathan Turner (26:32):
So sometimes it's that it's just like stuff that
I don't know about yet and soI'd like to learn.
And so, same thing, I'll haveput together either a speaker or
panel to come and talk aboutthat thing so we can all learn
about it and see how we canimprove.
And then just I don't know, Ikind of again, my wife and I
kind of talk about it togetherand debate, and then I just talk
(26:54):
to other node investors and say, hey, what do you think of any
specific topics you think weshould cover this year, and just
kind of gather ideas and I dothat kind of throughout the year
.
One for example I know I wastalking with another known
investor friend and one that wehad floated.
But we're not going to do thisyear, I think we'll, we'll have
(27:14):
to wait till next year.
We're the title of the I thinkit would be a panel.
We'll call it wild workouts andjust kind of stories of of
different workouts that peoplehave done and you know how
they've done it, and kind ofshare some stories of of
different creative things peoplecome up with on how to make
these workouts happen.
So yeah, I like the panel thisyear, but we'll we'll put it in
(27:37):
next time.
Justin Bogard (27:38):
I like the panels and then there's certain
national speakers that I'm notgoing to name you off the top of
my head or anything, but thatalways finds stuff that's really
interesting to me.
It's usually the attorneys orthe people in the self-directed
IRA the stuff, because youalways hear misinformation.
You hear this out there, butthen you hear the opposite
(28:00):
misinformation like you hearthis out there, but then you
hear the opposite and just likewhat is actually the truth and
what will someone confidentlyget on stage and say this is,
this is the the legal way to doit?
You know this is very uh.
Yeah, I always like to listento those for sure.
Nathan Turner (28:10):
So, like we've got uh the on the legal side,
one of my favorite speakers,jeff watson.
He's coming.
He's going to talk to us and Ilove listening to him and just I
can.
Every time I listen I just feellike I'm learning something.
You know they've got, I mean,somebody from uh mortgage
bankers association's comingtelling us about you know what
they see coming down the pipeand we've got gosh, so many.
(28:32):
We're going to do a tech paneltalking about different
technologies that are being usedtoday.
We've got a guy that guy thatI'm using actually for marketing
, for raising capital he's goingto come speak to us and some
tips and tricks on how you getyourself out there and how you
get noticed on social media in anon salesy way.
(28:52):
Yeah, just to you know, getyourself known.
So all kinds of things that'stip of the iceberg, but there's
all kinds of things that's tipof the iceberg, but there's all
kinds of things we're going tocover.
Justin Bogard (29:01):
That's cool.
Well, you guys need to checkout a divert diversified
mortgage expocom.
Is that correct?
Yeah, that's right.
And to get all the ticketinginformation and and who's going
to be there the assuming theexhibitors and the speakers list
is probably already out there.
Yeah, the exception of whateveryou're going to add here, in
the last last month or two yeah,we'll keep adding here.
Nathan Turner (29:21):
Excuse me, yeah, my part of that is tomorrow.
I'm set aside some time so Ican kind of finalize a few
people that have said yeah, Ithink I can make it with him
hauling around.
Justin Bogard (29:31):
Give me a yes or no exactly, yeah it's go time,
baby nathan.
Thanks so much for being on thepodcast today.
Yeah, appreciate, uh, knowingyou in the business and you know
reciprocating the favor fromwhen I was on your podcast with
Dave earlier last year.
Narrator (29:47):
Yeah.
Justin Bogard (29:48):
I had a lot of fun doing that.
Encourage you guys to checkthat out as well.
You do that on a weekly basis,is that right.
Every other week.
Every other week, okay, it's onFriday.
Nathan Turner (29:58):
Yeah, friday is noon Eastern.
Uh, and yeah, every other weekjust.
And, like I say, we bring onpeople that either something we
don't know about, or people thatare in business doing something
.
Um, it's, it's fun, we like it.
Justin Bogard (30:13):
And that's on JKP holdings.
Uh, facebook group.
That's right.
Yeah, all right, look that up,check it out.
So, nathan, thanks again forbeing on the show today.
This was episode number sevenof season six on the Be the Bank
podcast, and we will see youguys in the next episode.
See ya, thank you.
Narrator (30:36):
Thanks for listening to Be the Bank.
We hope you learned somethingfrom today's show.
If you enjoyed this episode,please rate and review us.
Plus, check out our channel onYouTube and follow us on
Facebook and Twitter at Be theBank, and on Instagram at Be the
Bank Podcast.
Be the Bank is sponsored byAmerican Notebuyers.
Thanks again for listening.
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