In this episode, the hosts dive deep into the evolving world of note investing, discussing the shift toward wrap notes, hard money, and the increased presence of note brokers. With their guest Nate Hair out due to a family emergency, they pivot to a crucial discussion on how to broker notes the right way, including what not to do—like blasting borrower data or skipping due diligence.
They emphasize the importance of adding value when brokering, building relationships, understanding the asset, and why NDAs and spreadsheets matter. Common pitfalls like "joker brokering" and sending out unvetted bulk lists are discussed, along with how to vet real buyers and sellers.
Later in the episode, they tackle the myth of buying notes directly from banks, explaining why this rarely works for individual investors. Instead, they advocate for smarter strategies like direct mail and partial note buying for beginners with limited capital. Finally, they tease upcoming episodes, including hypothecations and trust structures, and encourage participation in the upcoming Diversified Mortgage Expo (DME).
[00:00:00] Show Intro and Guest Update
[00:01:12] Shift in Note Investing Trends
[00:02:04] Upcoming Market Crash Predictions
[00:02:33] Importance of Networking in Notes
[00:03:18] Who We Are as Note Investors
[00:04:08] Diversified Mortgage Expo Details
[00:05:26] Why You Should Attend DME
[00:06:01] Sit with Someone New at Events
[00:07:02] Why NDAs Matter in Note Investing
[00:08:22] How to Become a Note Broker
[00:09:42] Mistakes Brokers Make with Notes
[00:11:26] Key Info to Include in Listings
[00:12:37] Vetting Real Note Buyers
[00:13:31] Avoid Becoming a Joker Broker
[00:14:22] How to Add Value as a Broker
[00:15:52] Real-Life Note Brokering Examples
[00:23:00] Why Partials Are Great for Starters
[00:27:04] Can You Buy Notes from Banks?
[00:30:06] Why Big Banks Don’t Sell Notes
[00:34:08] Solving Seller Problems Creatively
[00:40:46] What Buyers Really Look For
[00:43:00] Why Stay Onsite for DME
[00:44:16] Upcoming Guests and Events
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