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All Forum Posts by: Scott Carson

Scott Carson has started 194 posts and replied 523 times.

Post: You have 50k to invest. Where do you buy?

Scott CarsonPosted
  • Note Investor
  • Austin, TX
  • Posts 602
  • Votes 357

Ok....let's go straight to the point.  What is she really wanting to do with the money as far as returns....As an investor, she should not be buying anything above 70% of value to ensure good returns.  She also wants to be in a landlord friendly state so that if she has to evict, she can do it quickly.  Indianapolis is a growing area with good rentals, appreciation and the ability to evict in 14 days.  If she invests out of the area, she will need a property manager....join a local investment club to find 1-2 good ones.  These can be found on REIclub.com, Meetup.com, or Activerain.com.  

Getting bank financing isn't really a reliable option these days as banks A) don't like doing small loans below $50K and depending on her other financial situation, it might kill her DTI ratios. I would recommend finding some private money via IRA investors and someone looking for a 8-12% return on investment and use that money to purchase 2-3 homes and hold on to her $50K for repairs, and payments/eviction costs. Let's face it, no one should start off being a landlord if they've never done any other type of investing.

DO NOT BUY A HOME AT FULL VALUE and put down 10% and finance the rest.  She should be able to get a 15% return or greater using other peoples money.  If she can't, then she would be better off lending the money for small mezzanine/hard money deals at 12-15%.  She needs to grow the nest egg and gain some experience first.

She could always buy 2-3 notes with the $50K and then turn the non performing notes into performing loans with loan modifications and see a 20% return or greater by becoming the bank and not dealing with the headache of toilets and tenants.

Post: does doing a "subject to" require a lot of money?

Scott CarsonPosted
  • Note Investor
  • Austin, TX
  • Posts 602
  • Votes 357

Subject to is just that....subject to the financing in place. If the borrower is behind on their mortgage or taxes, these often have to be paid. Also, if you are renting the property out to a tenant, and they don't make their rent payment, you should cover the payment to protect the person you are taking the property over from. So, it just depends on the deal.

Post: Note Buying For Dummies Review

Scott CarsonPosted
  • Note Investor
  • Austin, TX
  • Posts 602
  • Votes 357

I've had some questions about my Note Buying For Dummies Workshop and I'd thought I'd share an email I received recently from a recent graduate of the 4 day workshop.

"Having been to other real estate investment seminars I can attest to how totally refreshing it is to go to Scott Carson’s “Note Buying for Dummies Course.” He truly gives you the nuts and bolts of knowing how to acquire bank notes. Someone in the class stated he had attended a note investment course that was so complex with mathematics that he got little from it. I am a novice to real estate overall and found everything Scott talked about made sense. He always answered questions, never made anyone feel stupid nor did he high-pressure sale anyone and did not use the buy it now or we double it later common manipulation.

To be frank most middle of the night TV guru house investment courses are about fifty percent hype and psychological manipulation and contain some calculated tactic to make students feel that if they do not sign up the $40,000 workshop they are unlikely to succeed. The problem is investment seminar companies normally save the most useful information for those signing up for coaching programs. The first course is just a hook so they can reel potential investors in to take the bait of a more expensive course.

While Scott has a mentorship program, it is the real deal and I was told has a hands-on quality that really guides you to success. In the course I attended Scott lets students practice scripts on how approach banks, develop a presence online to reach out to revenue sources, buyers and sellers. He clearly details how to deal with notes from beginning to the exit strategies. At the end of the course he even gives students guidance on what they need to do once they get home. One effective method he used was asking us to share with a fellow student what we learned at each session that reinforced what we learned in a positive and fun way.

Most investment seminars I have attended forbid students from showing any negativity and discourage or forbid, networking with other students. Scott Carson does not have to make such counter productive demands on students’ eager to learn as Scott creates a positive environment and frankly a joyful one full of amazing step-by-step knowledge. He brings in relevant guest speakers who represent the types of supportive team players needed to win in the note buying and selling business. He helps students understand the role of each professional in managing a successful note buying practice.

Students are allowed to repeat the course until they feel they really understand the material without any fee and the course changes as better information comes available. It is great for new investors like myself as you see his existing students have camaraderie and desire to support and help each other, which Scott by his very nature fosters. Scott does not command that no one is allowed to be negative but merely gives students so much useful information and creative real estate ideas that everyone is too busy feasting on his wealth of valuable information to be negative.

Scott has a terrific sense of humor with delightful animation and makes listening to him a joyful experience. He has the courage to share his own challenges and determined efforts and goals to help inspire others. The four days of incredible useful note buying and selling information went by quickly as his sense of humor and kind nature made me not want to miss a minute of what he had to teach.

In one real estate investment course I attended, the teacher offered one book to a crowd of students and when everyone did not jump up, he told everyone that showed how lame they were and unmotivated and said we had to stay sitting as we were all in time out. The person who got the book had to recount correctly four points in one of our lessons or lose the chance at the book. It was humiliating but by contrast Scott Carson passed out a box of books to students that inspire or inform as he thought it would help a student or reward them. There was no humiliation or games at all. In fact, Scott had a box of candies in the front he shared with everyone. Scott is a generous, humorous, enthusiastic and for those with the courage to get their first note he is available to watch their backs in case they run into troubles. He is ready to bring his knowledge and resources into play so students have the best chance of success. Scott is approachable and kind to every student.

One thing that puts Scott Carson ahead of all other real estate investment seminars I have attended. Scott is not a mascot for some company trying to use him to promote their products instead he is the authentic real deal. Scott is someone who knows how to do all the things he teaches his students to do and is helping people create a better vision for their lives. The class was more useful and positive than I could have ever imaged. In the years I have been studying the stock market or real estate, I have never encountered such a profoundly inspiring and helpful and kind investment teacher and coach.

But what sets Scott Carson most apart from the crowd is that he honestly means to make the world a better place through his teaching and coaching. He does not parade his wealth in front of the class like most investment teachers to impress us but rather lets us know he is one of us and had humble beginnings and struggles and overcame much. He believes in a very ethical, legally sound, socially responsible types of investing to rebuild communities and human lives whenever possible. Restructuring loans to help a family who just hit hard times or donating a to a non-profit to fix a house for a returning disabled war veteran are the sorts of things he finds to do with notes investing.

In all my years working on a Master in Business Administration at the University of Colorado, I have never had a finer teacher on the steps to succeed in investing. Scott Carson is an authentic human being that does make a positive difference in the world and in the lives of his note-investing students. It was an incredible blessing to be in his class and I am definitely not the only student who feels that way. It is not possible to thank Scott Carson enough for what he teaches as though all investment seminar instructors say people come first most of their strategies do not support it.

With Scott you learn ethical, compassionate, legally secure and profitable note investing that enriches both the note-buy and the entire world. Taking Scott Carson’s note investing course was the best investment of time and money I have made in decades. He takes people from where they are and leads them to a better place for their future and the future of those whom their investing affects."

Sincerely,

Dana Walters, RN, MBA

San Antonio, TX