All Forum Posts by: Scott Carson

I think the biggest thing to keep in mind when sending a letter out to investors is to go the route of looking to either JOINT VENTURE with them or that you have deals that they might be interested in.  

You don't want to offer them a specific deal at first.  You will want to build rapport and try to have your letter lead to a phone call and then a meeting.  Keep in mind that if you do ever run into a SEC issue that you can show the 3 touch rule.

We mail a lot out to SD IRA investors through public records with the content being that we come across a ton of deals and wanted to see if they were still an active investor. We also try to find a phone number on Whitepages.com and Spokeo.com to follow up after we send the letter out.

We also include some sample deals with photos and outcomes to help get them interested in calling us.  

We also send out multiple letters over several weeks to get them to call us....letter followed by a post card, followed by another letter with phone calls after each round.

Join "the Note Guy" for a half day note workshop this Saturday, April 21st!  

Scott Carson will be talking about the 3 F's of Note Investing....The Find, Fund and Flip.

Scott was just honored with the 2014 Note Educator of the Year!

Scott will also spend time going through different exit strategies, raising private capital and reviewing actual deals.

He'll actually spend time showing you how to find private investors and how to reach out to them to have them joint venture with you on deals!

We will also spend time reviewing 30 Chicago area assets!

Cost to attend is $99 and that amount can be put towards his future Chicago Note Buying For Dummies workshop taking place at the same location April 23-26th, 2015.

Where:  Hilton Garden Inn - O'Hare Airport

2930 South River Rd

Des Plaines, IL 60018

There is a limited number of seats available and you must RSVP by Friday!

Email StephanieGoodman at [email protected] to reserve your seat or text/call at 512-585-3810.

As always, past and present military are comped in for Free!

Noteworthy USA is proud to announce its first East Coast Note Summit Friday, April 10th - Monday, April 13th, 2014 at the Hilton Newark Penn Station Hotel.

REGISTER NOW

Whether you are a performing, nonperforming, owner financed, firsts, seconds, residential or commercial note investor, you will want to attend this event!

This Noteworthy East Note Summit will be focused on providing solid fundamentals, content, and tools that you can use in your note business without the normal sales pitches!

Some of the topics will include:

Raising Private Money

Social Media Marketing For Your Note Business

Bank Direct Deals

1st's vs 2nd's

Servicing

Due Diligence

Finding Deals

Exit Strategies

REGISTER NOW

Besides the 300+ note investors, you will also have the opportunity on Monday, April 13th to join in a LIVE note auction that will feature 1st's and 2nd's for you to purchase direct from multiple hedge funds! That's correct! Not only will you learn how to do things, you'll also have the option to pick up a few deals for your own portfolio (Bidders will need to be vetted prior to the Auction)!!

We will have 30+ vendors, 30+ Breakout Seesion, and several Investor Panels of REAL INVESTORS!

Our goal is for you to walk out of the Noteworthy Summit with not only a plan of action, but a blue print of success to help you succeed today!

Special hotel room rates are available at the Hilton Newark Penn Station Hotel!

BOOK YOUR ROOM NOW!

For Vendor and Speaking Opportunities, please contact Scott Carson at [email protected] or 512-585-3810.

Anytime,

As a side note, you will see most of the product from hedge funds in FL, OH, IL, MI, NC, SC, TN, NY, NJ, TN, KY, AL, MS, LA, AR, MS, PA & KS.  There are opportunities there, you just have to work through the deals.

I'm going to contradict a few people because this is what I focus on in my niche of real estate.  Will banks sell you a note?  The answer....It depends!

Don't waste your time with the top 5-10 banking institutions. They won't sell you anything less than a $10 Million dollar portfolio. And its not often at that great of a discount depending on where the assets are located. If you look at the recent FDIC sales, you will see the % of FMV has been above 70% for a ton of the sales. Banks might sell you performing notes in the 90% of UPB range.

Now non performing is a different story for regional banks and where the assets are located. Wells Fargo might sell you a one off commercial NPN but it will depend on how defaulted the asset is.

I've bought plenty of one off, small balance commercial NPN's from "What's in your waller" over the past five years along with assets from Synovus (SE part of the country), WF, and other regional banks.

If you are looking for residential assets, there are those banks that will sell one off's but its a matter of dialing for dollars to find them.  Depending on value, condition, default rate and foreclosure time frame, these all come into consideration with pricing.  

If you are looking for assets in OH, MI, and some other states in the mid west, the answer would be closer to yes.  If you are looking for CA, NV, AZ, TX and GA, probably not as those markets are just too fast on the FC side.  

Some mortgage banks that are portfolio lenders will move stuff from time to time but you've got to follow up with them on a regular basis.  It's definitely a niche market and the market didn't exist prior to 2009.

In only 2 scenarios have I ever bought a note from the bank on a specific property that I was in contact with the borrower prior to being direct to the bank.  Otherwise, the bank provided me with a list (tape) that I could cherry pick from or do a mini bulk purchase.

All I focus on is buying non performing 1st liens from banks and hedge funds.  Its work and a longer process then fix and flip, but the returns are phenomenal along with the numerous exit strategies.  

Yours in success,

Scott Carson "the Note Guy"

It's going to be an AWESOME event.  Lot's of content and networking opportunities.

Noteworthy USA is proud to announce its first East Coast Convention Friday, April 10th - Monday, April 13th, 2014 at the Hilton Newark Penn Station Hotel.

RSVP YOUR SEAT NOW!

Whether you are a performing, nonperforming, owner financed, firsts, seconds, residential or commercial note investor, you will want to attend this event!

This Noteworthy Convention will be focused on providing solid fundamentals, content, and tools that you can use in your note business without the normal sales pitches!

Some of the topics will include:

Raising Private Money

Social Media Marketing For Your Note Business

Bank Direct Deals

1st's vs 2nd's

Servicing

Due Diligence

Finding Deals

Exit Strategies

Besides the 400+ note investors, you will also have the opportunity on Monday, April 13th to join in a LIVE note auction that will feature 1st's and 2nd's for you to purchase direct from multiple hedge funds! That's correct! Not only will you learn how to do things, you'll also have the option to pick up a few deals for your own portfolio (Bidders will need to be vetted prior to the Auction)!!

RSVP YOUR SEAT NOW!

We will have 30+ vendors, 30+ Breakout Seesion, and several Investor Panels of REAL INVESTORS!

Our goal is for you to walk out of the Noteworthy Convention with not only a plan of action, but a blue print of success to help you succeed today!

For Vendor and Speaking Opportunities, please contact Scott Carson at [email protected] or 512-585-3810.

There are a couple of ways to network with investors...

Meetup.com and find Real Estate Investment Clubs are a great way....look for local investment clubs to your market or where you are investing.  Wine clubs are a great way as well as its a great way to find money.  

Attending investment workshops or conferences such as Papersource and Noteworthy are 2 events just for paper investors.  Noteworthy had 800 investors last year and is in October.  Papersource was in April and had 250 investors....both are in Las Vegas.  Great networking and can dramatically increase your business.

You could always jump on the county recorder's office and pull a list of self directed ira owners by searching for Equity Trust, Quest, Pensco, etc as the Grantee/Grantor on Deed searches. This will often give you a list of SD IRA owners and their addresses....often times these are investors who have made loans or funded transactions.