scott carson's 3 f's of npn's presentation
TRANSCRIPT
3 F’s Of Note InvestingScott Carson’s
Who Is In The Room
What Does Your Biz Look Like?
Baltimore Deals
• Real estate investor since 2002, NPN investor since 2007
• President of WeCloseNotes.com • Creator of Note Buying For Dummies class• The “Love Connection” of ugly paper by Investor’s
Business Daily/Wall Street Journal• 2014 Note Educator of the Year!• Purchased over $500 Million in NPN• Recently Featured in Inc.com
Who Is Scott Carson?
• How to FIND NPN’s from banks/hedge funds
• How to FUND these deals with OPM• How to FLIP notes and other Exit Strategies• How We Focus On Rehabbing The Borrower!
• Help You Build A Blueprint For Success• Create Win-Win-Win Situations for you, the banks, and the home owners!!!
What We Will Cover
Investing In Notes…The 411• There Are Over 7 Million Homes Still Underwater Today• 90% Below $150,000 Values• You Step Directly Into Banks Shoes When Buying NPN’s
• 85% Of Loan Modifications Fail From Banks• Pricing Ranges from 25% to 75% Depending On Market
• You Have a Variety Of Exit Strategies and Government Programs
Where To Find These Deals• Banks• Hedge Funds• Servicing Companies• Auction Websites• Mortgage Bankers• Private Sellers
What Does Junk Look Like?
9 Different Exit Strategies1. Wholesale The Note2. Reinstate The Loan3. Modify The Loan4. Loan Assumption5. Cash Payoff6. Short Sale7. Deed In Lieu/Cash For Keys8. Resell The Note9. Foreclosure
Small Notes Can Be Found Nationwide As Well$130K 1st lien, no payments for 18 months!$110K ARV (needed $30K in repairs) $55K FMVWhat would you pay for it????
Ugly Notes Need Love Too!
• $100,000 FMV Condo• 2/2 1050 sq ft• Fort Lauderdale, FL• Rents for $1200 Month• $165,000 UPB• 24 months in default• 12 months to foreclose• What would you pay?• I Paid $33,000 For It!
Money Finds Good Deals
Took deed in lieu from property owner.Listed our REO online.Sold in 30 days for $25,000 to cash buyer!
I never walked property, swung a hammer, collected rent, or showed up to closing!
3 hours of work for us from 1,000 miles away!
$3,750 turns into $17,150
Meet Jamie and Lanny(Taylorsville, NC)
Bought Charlotte Condo NoteUPB was $37.5K, Worth $50KPaid $17,500
Did Loan Mod for owner22% MONTHLY returnSold Asset for $45K
Make Money Holding Note
Deed In Lieu – REO Sale• San Antonio TX• Borrower Owed $130K+• No Payments For 12 Months• Purchased Note for $53K• Needed $5K Work• Deed In Lieu in 30 days• Sold in 90 Days for $125K•Netted $60K+ In Profits!
800 Clubhouse Dr, West Palm Beach, FL6 Unit Apartment Complex worth $240KBorrower owes $430K (July 2010)
Purchased for $175k.
We sold it 8 months later atFC Auction for $310K!
The Bank Called Me!
The Law Of Averages• If You Buy 10 Notes
• 3-4 Will Modify• 3-4 Will Deed In Lieu• 4-6 Will Be Foreclosures (REO)
• Strategy Should Be To Modify to DIL To Foreclose To REO
WIN FOR THE PROPERTY OWNER!
• Offer Homeowners Deed In Lieu• No Deficiency Judgments• No New Late Pays on Credit• No Foreclosure on Credit• Cash For Keys• No Promissory Notes
How Do We Create Win-Win’s
WIN FOR THE BANKS• They Get Rid of Bad Debt Killing Their Books• Settle in a Fraction of Time• Banks HATE REO’s“Pretend and Extend” Mentality on Commercial
How Do We Create Win-Win’s
WIN FOR US AS INVESTORS
• Very little competition• Awesome deals!!!!• Very little overhead• Close residential and commercial deals• Nationwide Investing• YOU CAN DO THIS WITH NONE OF YOUR OWN MONEY!!!!!
How Do We Create Win-Win’s
Why I Started Teaching
Investors Don’t Know What They Don’t KnowNew Investors Need Someone To CallInvestors Struggle With 3 Things1) Finding Deals2) Marketing3) Raising Money
So What is the Catch???
Check Out Our Training
Sign Up Now!•http://www.WeCloseNotes.com•Connect with other investors!•Make this year THE YEAR you accomplish amazing things!
•www.WeCloseNotes.com•[email protected]•512-585-3810