2025 Real Estate Note Goals: Dream Bigger, Invest Smarter | Real Estate Notes Show

Episode: 2025 Real Estate Note Goals: Dream Bigger, Invest Smarter Dave's Goals and Plans: - Fell short on raising $5 million in 2024 but hiring experienced capital raiser for 2025 - Shifting focus to connecting with seller finance people - built relationships with 4-5 solid contacts throughout 2024 - Planning DME event growth of 30% for 2025 to reach close to 300 attendees - Theme for 2025 is diversification within notes - land notes, mobile home notes, commercial notes, hypothecation - Not sticking rigidly to original goals when circumstances change - adjusted and pivoted during the year Nathan's Goals and Plans: - Bought more creative finance notes in 2024 instead of original targets for seller finance and reverse mortgages - Learned that notes don't have to be perfectly formatted - crucial elements matter more than strict formatting - Connected with at least 4-5 solid seller finance people in 2024 for potential future business - Planning behind-the-scenes conversations about 2025 goals with seller finance contacts - YouTube subscriber target is 5,000 but currently around 250 Key Recommendations: - Use note curation work - can fix poorly written seller finance notes by having borrower resign with better language while keeping terms the same - Essential note elements that cannot be missed: note start date, interest rate, and payment terms (PITI cannot be fixed, must be adjustable) - Write down your goals publicly to create accountability and attract potential collaborators with similar objectives - Delegate tasks that aren't your strength - Dave hired capital raiser to free up time for sourcing and training note creators - Property description and formatting can be worked on with attorney guidance if other essential elements are solid Topics Discussed: - 2024 goal reflection and performance analysis - Creative finance strategies and note curation - Capital raising challenges and solutions - Seller finance relationship building - 2025 planning and goal setting philosophy - Note diversification strategies - DME event growth targets - Note formatting and essential elements Holdings alongside me as always Mr Nathan Turner hello hello hey how you doing man doing well doing well for those who don't know we are it's our first show of 2025 uh I've been in the note space for over 15 years now Nathan Turner has been the space the same length of time we are not the same company but we enjoy the same stuff so yeah welcome new guests this will be recorded it'll be on our YouTube and podcast and all that good stuff let's start off with holidays good bad mixed it was really good uh my daughter's been home from school she goes home on Sunday in a couple more days here um but it was really good really good we got up to the ski hill a couple of times we were able to spend time with family uh my brother fames lives nearby so he came out and then my sister unexpectedly came out with her family uh from uh much further away but uh no it's was really good I had a like nice relaxing time staying up way too late we introduced my youngest son to uh Sherlock that the BBC shows yes forget it now we're up till like one o'clock last night watching the next episode because it's just too exciting well you know good time together right and it's a wholesome good show you can enjoy it it's not a cartoon for those who are young parents I feel bad for you but yeah it it does get better right it's a good show great show so anyway spending lots of time staying up too late sleeping in all those things but it's been fun we'd love to hear in the comments what you guys did keep your kids busy over the holidays uh we just played some games we had some fights of course all the good stuff uh but Place Monopoly and all that good stuff yes Cindy you as well um so I'm glad we all connected right it was a a great year we learned a lot from a lot of you guys who are out there helping us learn a lot um and we really connect with some really good people over the year we were just looking back at what we were looking for in 2024 I'm going tell you I didn't do too good on my goals however things adjusted over the year and I did well on new goals that I got so yeah I can't say it's a Miss I just say it's I shifted along the way and that's something we learn about our goals that just because they're putting paper on January 1st or July 1st doesn't mean you have to stick with them so if you hadn't watch it go back and check out our last year's video on this stuff and hold us accountable right if are adjusting let us know and ask us questions we'd love to hear from you guys so yeah same kind of thing I I did okay on some not so great on others but learned a lot and ready to attack it in different ways in 2025 which I think are GNA be much more effective and uh yeah looking forward to moving moving forward yeah absolutely and we want to connect with you guys who are creating notes and curious about this world we're not just looking to teach you got buy notes right we want to teach you about buying notes you you can learn how to create notes if you're looking to liquidate right um I'm I'm tempted about putting on our advanced class again I don't know if Nate will be part of this year or not but that teaches you about the note space right how to bid on assets but if you're creating assets learning how to bid on an asset will help you learn how to create a good asset to sell more of it right yeah um maybe parameters we're looking at a mobile home and it's 1984 if you're looking for a mobile home in 1984 let me know there's a note around pop it around I just don't want that mobile home deal maybe I do it in 2026 just not right now yeah yeah and it's really interesting looking ahead and looking to see uh and we I think we'll get into this but different different things we're looking at but how did you do do you want to do you want to report on 2024 goals so yeah so I didn't get as many assets that I was shooting for um I didn't buy as many seller finance notes as I was shooting for um I did I was targeting some reverse mortgages I believe and they didn't go that direction at all um for a couple different personal reasons funding reasons whatnot um but I did go towards and buy more creative Finance notes and learn a lot more about them in the the note doesn't have to look like the note we're used to and that was a big deal for me for a long time and saying this thing is not seven pages doesn't have this this this because sometimes that as long as you have the crucial parts that's really what matters yeah yeah and it's really interesting you know when I don't know how much we've covered this but maybe we should more um about Curative work like you can get a note a seller finance note they're not usually written really well most of the time you can fix whatever most of the time um so like for example I've got this one out in North Carolina it's the paperwork's not great it's not perfect uh it's okay but and it has the Essential Elements um but it can be fixed so I can go back to that borrower and say look here's here's what we've got this is the note you have I want you to have you know I want you to go back and resign a new note because it's going to protect you it's going to protect me it's going to be much more beneficial note for both of us uh are you cool with that and and 99% of the time they're fine that and they're okay with just redoing a new note it all the terms everything stays the same but now it has all the additional language in there that was missing in the previous you know the original version of it yeah so just a shout out to a couple people who are tuning in we're on LinkedIn Facebook YouTube everything else going on here Del Antonio on LinkedIn Del I see Cindy jumping in here Joe jumping on so I poiz my eyes a little streaming um just get cheating out everyone's uh information I think you're right though right we kind of because of those people who've been in this space for a long time we chicken hole and say listen it has to be like this it doesn't have to be that way um but it's preferred and we can pay you more and there's some parts of the not you can't miss right yes there's some really key elements um we talked about our private call about the fact that there's some areas that know starting date has to be on there right the interest rate has to be on there the Piti has cannot be fixed has to be adjustable things like that but there's some things that can be kind of pushed aside maybe the way the description of the property is not Crystal clears where we used to it has some description that match the county records right things like that we can kind of we can work on it most time we tell our attorney and attorney says it's good right right so and in 2024 my other goals was really to connect with more of the seller fance people as I go on I've connected with at least four or five solid people that I've kept in contact with throughout through the year that I've really build a bond with and I'm hoping to do more business with them in the future and connect with even more um for no other reason but the fact that I'm actually thinking about and we'll get to in a minute some 2025 goals with them that I really haven't brought up to them yet but I'm behind the scenes kind of trickling in saying this could be awesome from opportunities in a couple years yeah awesome and then for me on the 2024 same kind of thing like did okay but not not necessarily hitting those goals exactly but then added some different goals and changed some of the goals as as you know things developed and as we were looking at different things and so so um I I fell short on raising the five million that I was looking for yeah however again going into 2025 um I won't mention his name because it's not final yet but we're bringing on somebody who's going to be doing the capital raising for me uh who has much more experience has uh you know much bigger rodux than I do when it comes to raising Capital so uh really excited about that and getting him engaged and uh getting that capital in so we what you learn about raising Capital man so much um consistency is a big thing um social media can and does work uh there are right ways to do it and wrong ways to do it there like so many different things just a a lot of the principles that behind the fundraising I learned a lot about those kind of things so I excited just to learn that because things I didn't know you know and how to do that better and different ways to approach conversations and uh how to find you know your Target and defining your Target and all those kinds of different things so that's been very very useful uh just in the educational part of it and understanding what I'm after and how to go about looking for it um the reality is I'm not much of a salesperson uh and so I'm more than happy to hand that off to somebody that we're hiring where he can can do that he's tremendous salesperson I know his track record and we've had plenty of conversations about that um he can just do a much better job than I can and it frees up my time and my energy to focus on different things meeting people that I can buy notes from and you know training them up to create notes that I can purchase uh for a higher price for them uh and much more beneficial for me so to me it's totally worth it it's totally worth it to pay somebody to do that uh so that I can at my time and energy on other things so that was on the fun side uh DME we did not have 400 people there we but we did increase so between 2023 and 2024 we increased our attendance by about 20% wow uh so for 2025 we're going to up that a little bit we're going to shoot for 30% uh and that will get us right close to 300 people which I think is great and that's a that's a good crowd to have uh really excited looking at that one and and again we'll get into this a little more but uh we're focusing you know when my wife and I were talking about it and and figuring out what do we want kind of the theme to be for 2025 um the theme that we want to focus on and that we're going to be talking about more is the diversification within notes so you can do this you can do that you know so you can look at land notes you look at mobile home notes you can look at commercial notes you can look at um I don't have a list in front of me but we're we're bringing in like different kinds of things uh we'll have somebody talking about hypothecation we're going to have different ways that you can expand into notes uh hopefully that doesn't confuse anybody but the the point is just to broaden your horizons and look and see this really fits what I'm looking for right now yeah I think both buying and creating notes both sides has to be focused on and looking at my notes in I you know you had some really high goals which is great you know the fact you didn't get to your your your top and on your DME I think you'll get there growing that 20 30% is awesome you know it's a matter of how to get there we'll talk Backstage on some ideas but and I know we had a target of 5,000 people on my on the YouTube subscribers just please share the link and our podcast we you 300 I think right now we're not close there I think we're like 250 if I'm not mistaken so share the information share our information and whatnot we'd like to you to in your chat wherever you're at wherever you're watching or listening to us put in the chat what your some of your goals are that not two re for three reasons a you're writing them down B no one else can hold you accountable and see to be realistic right put it down there because once you put the pen the paper you hold yourself accountable right and maybe you find someone else who's watching us right now or later on watching replay going hey I can help you there or hey I have the same goal maybe we could team up because this is a game that we all have to play together um and we could help each other without having a problem right um I know my target was to hit close 20 Finance notes by end of June I didn't get there the June but we got closer to there at the end of the year um but that's okay with me right I switched it a little bit because I didn't realize what I didn't know um right I realized we're hitting a lot of rap note Sellers and they don't get what we're doing and why we do certain things um know discussion the other day if you're a rap loan guy and you want to sell that note we're going to pay off that debt even if that debt doesn't make sense even if what's going on and you can make things work I'd rather just clean it up right yeah um and we're going to continue to educate you guys through our podcast through our channels through our our social media on different areas and please let us know if there's something area that you know something really good out the other fashion I I did get into my goals here and I tapped into it was AI I really Dove deep into automating a lot of the tasks that I do on a daily basis to do that such as um simple things getting my servicer data points strict to a spreadsheet every day at 5:23 a.m.

right that process used to be a download once a week whatever I can download it once a week once a day three times a day it doesn't matter that system does it without without me even knowing about it and flags me I've also done a lot of AI with scripting and coding and whatnot and spreadsheets which I'm a big thing of and I realize that I can actually go into my email grab like invoices and ID numbers and send it right to a spreadsheet without knowing about it it just scatters my inbox checks it boom throws into a spreadsheet and all my bank records all my bank statements everything that has information in there populates to a spreadsheet I don't got to copy paste I don't got to do any of that kind of stuff I haven't got the invoice downloaded yet but we'll get there eventually I think that portion of it allowed me to expand my mod my model and my knowledge of what AI can do um and I'd like to bring on some more AI guys here so you guys can get some ideas of what AI can do besides asking a simple question yeah I even you know when we're preparing for this you sent uh used AI to give a summary of last year's video with our goals that was extremely helpful because I had it queued up on my computer to watch the video I'm like ah this going to take so long but then if then I just get that script and I can read that in you know two minutes and see exactly what the summary was so yeah absolutely simple things like that so 2024 came in with an idea that like 2020 that notes were going to dissipate change in pricing and they didn't right right if you have large capital or if you had cheap Capital 2024 was a really good year um if you're still struggling you still get 10 plus return that's not so easy right uh targeting that 134 return uh yield not not Roi but yield is not as easy as the used to be so shifted gears yeah in 2025 where do we think the Market's going to be do we think it's going to shift what do you think it could now then you got all kinds of factors it's really interesting because again I know that we have um some lingering forclosures that still haven't completed uh I know that that's still out there so will that push through in 2025 possibly um one of the factors is we've got a new president uh a returning president I guess uh you know he's looking to make a splash he's looking to make some make some waves and so what is that going to do unclear and and that's a a big wild card to see where that's going to go and how that's going to impact the housing market specifically foreclosures um that'll be very interesting to see how that goes also along in that in those same lines is seller finance uh that was part of the agenda back in the last term I I think that that will bring you know that'll kind of bring that back up into uh discussion about what to do with seller finance and I know the seller finance Coalition has been hitting it very very hard uh and they've been looking forward to this presidency looking for a boost in that direction so and whether that'll come through or not uh in the next year who knows but uh but they I know at the very least seller finance Coalition is making some some great strides in that direction so we uh we support them and and want to help them out in whatever they can do to allow more seller finance deals to be made uh to be easier to be made uh to take out some of the regulations that are there while still keeping it you know the prot protection for borrowers and lenders in place um making it more feasible for uh lenders to be able to get out there and do it so it's it's going to be really interesting I'm I'm I'm really excited for 2025 I think it's gonna be a great year um it's gonna be really good really good absolutely you know in the shift you talk about you know Sil Coalition as well as you know one of the triggering things been going on is the whole Boi and the corporate trans act at this time it's frozen but I promise in 2025 we'll know by the end of the year what happen right yeah yeah I did recently see an article that I posted in the group and all stuff about New York pass a law that you can't go out using social media to reach out to borrower and I'm curious how many other states are going to pass a law similar to that you can't use social media to send a comment or a message to a borrower um I know some people have done in the past I have not um I've thought about it but didn't have to which than but I know people who have done that which I can understand why right best way sometimes get contact someone but New York just pass that law that you cannot use social media reach to borrower interesting yeah yeah so in that idea right so in 2025 I think it's going to be a different year in 2024 for the fact that that I'm starting to see we talked off air some some things going kind of crackling right some some notes that we literally I had one notes since 2016 17 that just started def faulting which makes no sense at all to me and I don't understand why um but curious to see what's happening there and see if that continues to be a trend as we thought could happened two years ago we're starting to see a trend um yeah we had a handful of notes just go bad in about last two weeks or so um that I'm just surprised by right um we've had some payoffs which is great um we've also said seen some bks start catching up and filing court order to to dismiss a case because a bar hasn't paid since July so interesting curious where that goes to and I know people are trying to chase down non-performers um they're just not as popular as they used to be just simply because people have been paying their bills um our private call Wednesday with our our season people we actually talking about that and we think the reason be is that credit card debt is astronomical and people just don't have have any more credit to use to pay their bills if you don't have any credit to pay your bills you're going to start the faulting yeah and you know factoring inflation and everything else like that it's it's getting harder it really is and so that's I think starting to catch up and and will that come to aead in 2025 maybe you know at least in part uh at least for some people that's going to be the thing that you know finally breaks camels back and then that's it so more default coming I I still think we're going to see a a wave of defaults I don't think it's going to be a tsunami but uh but I do think we're we're in for a wave we'll have um I think we're going to bring back the uh Mortgage Bankers Association to DME uh we'll talk about kind of their what they've been seeing and some of their predictions they've been pretty good uh so I'm interested to see what they've got uh coming up what their kind of predictions are for the next you know six months year so that'll be interesting to see as well so what kind of shifts are you going to make next year that how are you going to alter your business what are you going to do in your business maybe a little different than it was 2024 couple of different things so so I haven't hired anybody for 20 years I haven't had somebody work under me for seriously 20 years uh so that's kind of a big deal that we're bringing on this guy to do the uh to do the capital race um I like to do things myself but uh you know I'm realizing partially you know I'm I've got more things on my plate I've got a lot of things going on and so I'm happy to give that part away so that's a big shift for me is uh bringing on help um as far as loans that I'm looking at I was saying just before we got on the call so in two weeks I'm heading out to an imn conference down in um Miami area uh where they're talking about the whole conference is about dscr lending so that's where so debt service coverage ratio so what that means is um lending based on rental income of a property versus the value of the property itself so more of commercial uh little bit different way to do that and so we had a prep call the other day I'm moderating the panel about uh selecting your lender so it's a perfect one for me to be involved in because I don't know much about this area about this this whole Arena of dscr lending so I'm I'm very curious to learn more about it one of my questions for the prep panel was to say uh so does anybody ever sell these loans she said yes absolutely I'm like okay and now we're in business so I'm really excited to learn more about it and how it works and how maybe that can be incorporated into what I'm doing I'm already looking at just couple maybe a month ago I bought my first uh short-term loan oh and for for a fund structure it works really well uh so I'm looking forward to getting more involved in that uh along with seller finance uh possibly into some commercial loans as well so that's kind of what I'm looking for uh going forward I think that's going to be an exciting shift yeah I think we're shifting gears too is you know we've want to learn more about the eting notes too um short term right I hear a lot of people right now the big wave we a lot is people creating short-term notes for for rehab and Stu like that I've never touched it with 10 foot pole yeah but it's like okay how much different is this and and there are ways to mitigate risk and you know because you have to check in make sure where they're atlo some Capital St things I don't know that world yeah but doesn't mean we can't learn it right and I think that world right now if you can get into it and do some short-term lending and get into fix flips go for it make sure you're solid loan of value is good make sure you understand the contractor and the risks are there make sure you had the paper written out well you may want to sell you may not but it's definitely a market we're just talking on today and someone's creating 13 and three loan for those who don't know what that means it's a 133% annual return yield interest rate with three points upfront so if you borrow $100,000 you have to pay $3,000 up front and you have a 13% over the the year or so it typically pays off sooner but you're going to get that three points so that technically if he does take a year it's 16% yeah right and it's amazing what that happens and people were paying it off and then doing it over and if they pay it off early that yield goes through the roof so if you didn't understand that please check out our last show from the 20 20th of December and we talked about that and that whole idea is amazing to me that this is a big fat and that ranged from being 14 and4 when I remember in 2010 the 8-1 that 201718 we're back up to 13 and3 cycle continue right and I yeah I'm curious what that looks like and I'd like to learn a little B about that if it's lending money and like that it's definitely a market and I'm going to go in it very conservatively I'm sure but it's going to be a big deal I think in 2025 as more and more these houses come available and things happen that's really interesting yeah I'm really curious to see how that goes um one of and we talked about this last year one of one of my I guess cautions one of my my Hang-Ups on these short-term loans is uh you know I I think we're due for some kind of Correction in the market so if somebody's out flipping a house and all of a sudden they're they're stuck and they not able to sell it then what uh but there's there's things in place and that's what I'm learning is you know there's different ways you can uh protect yourself against that and yeah curious if someone can put in the chat what was the drop of value across the board on average in homes or what was the highest and lowest where because we all think that that property Dro 50 60 70% it's probably not accurate we probably have this you know Miser in our head that property values dropped a lot they probably did not so I'm curious if no anyone knows the stat put in the chat below just if you got it that'd be really interesting to learn because you're right I'm worried about a property if you're into a a 70% loan of value TV and it drops 20% you're still okay not golden you're okay and a 20% drop is pretty significant so that's that's that makes me feel really good you know like if I've got that much equity in there I'm feeling pretty protected I'm feeling pretty safe I don't think we're g to hit a recession I just don't think housing price is going to adjust too much I think you're G to stay flat I think um obviously the spike I think is over the Market's changing and we you know we had on the show and we'll probably bring her back uh Melody came on our show and talked about that stuff and I think we bring Melody back to just to get another sample what she's exploring Mel right is really good for that kind of stuff and yeah I just think that next year or so my property value is not going to go up another 20% like I did last year he's think it's going to kind of go flat for a while and what does that mean in the market we're looking for and again our goals for the years I'd like to to write five short-term notes that's just test the waters that's one of my bullet points is to write five short-term notes somehow someway I'll probably start my local market I know we all talk about getting outside it but probably my local market or somewhere that I have a good team of people I also like to create more notes which I've done before thecr loans where people have landlords opportunities i' write to write three to five of those um just being careful not to put that person into a um in their entire business to a smaller scenario where it gets too much Deb service ratio cost a whole portfolio but if someone's you know has a first lean on something that's 80,000 The Profit were 200 and they're collecting 15 16% you know it makes sense yeah see Roy had a comment on over on Facebook that uh 40% in Phoenix and I think Phoenix was probably the most hit area and what was the percent 40% 40 okay yep and you know local market markets are are going to vary wildly um yeah anywhere from you know 40% and then in part of the reason I liked going out to Ohio Michigan area is that uh they hadn't increased as much during the runup and so they didn't decrease as much when during the crash that was something that we looked at early on way back when was that values were more steady than any other areas so that depending on where you're at we're also looking at buying a few businesses too um that are kind of out there in Opportunity World um seller finance opportunities to buy them which is really different um I won't get too much on the show about that but just another idea for you guys hit me up in six months and say hi how'd you do probably buy one maybe two just to explore that idea but just to kind of Branch out get outside of our normal basis like we did in 2020 when we started buying Finance notes and getting outside of our box and that's something we talk about our private call is hey what are other people doing really well let's connect with them and learn from them and see how we can help them as well as benefit from them as well yeah you know yeah very good so I think for me um I see Sydney jumping on Adam that's awesome uh just did a year up Rand up so yeah we can definitely check out Adam's ATM for those who don't know what that is um it's a great service you can look up a stats right um we also would like to Branch out and get people who are doing different kind of notes I'd like to learn a little bit about commercial notes right and what do you mean by commercial commercial can mean that it's a business loan also get commercial more than four unit out four one to four Rider more than four units that could be a mixed use that could be a strip mall they can be whatever I'd like to learn about it I don't know if I'll buy one but we'd like to bring someone on the show that talks about that stuff and understands that stuff who gets that that market and see if we can buy them things right the other thing I think is going to be a spike up or continue to be a spike up is reverse mortgages yes I think we're gonna see SP in that the Boomers getting older right um our moms and dads reverse mortgages do benefit some and other fast as they don't what I do want to bring on one of our shows is a foreclosure Horror Story kind of thing reason being is I was talking to other um two two different calls during the break one was a newer investor who has about 15 performing notes and when I talked to about due diligence they said listen I run a financial calculator and that's it I don't understand why you need this fancy calculator and it's just because it's performing and they don't realize the negative side of a performing note when they go bad when I said well what' you buy a percent of value just in case it goes bad they said well I bought it at it you know 12 yield and I said well what percent of value and they didn't really know they actually didn't run the value of the property on any of them which I'm kind of like whoa right hold your horses they said well listen if I had to take it back and for close I'll be okay and I said what's okay look like how do you know okay answer yeah interesting and we've talked about that but my goodness it Bears repeating because yeah if you're buying it you know a 90% of value uh and then what if values drop by 15% you're toast you know you're underwater all the sudden and that's no fun buy and you take it back and it's destroyed right yeah because borers who move out don't the bills keep it room sweet clean right yeah yeah right and borrowers who can't afford their bills probably repair their whole house up to enough and make sure everything's cleaned up oh totally so yes we want to bring on some of the realistic things that are going on on the back side of it um and there some more of the different horror stories that you know I we do see a lot of people talk about all accessive notes which there are but we both know that that's not a full-time job opportunity where you're buying performers forever and everything works out you know so a quick update on on my nightmare one so I've I've had this I've had this note now the property I bought it as a note foreclosure happened February of 2020 one month later we were into covid everything was shut down in Chicago this has been going on four years I've had somebody in there for more than well four and a half years now um I got an eviction judgment last November that's been fought that's been postponed that's been dragging on I think we're almost at the end of it finally uh I've got one more uh hearing next week that should be the end of it we had another hearing just before Christmas where the judge uh basically kind of closed the book and said look this is this is ridiculous this has been going on with way too long and I'm like oh thank you finally so I think we're almost there um but again as far as those horror stories I bought the note uh just before covid uh you know right in January February of 20120 and I still are am working on that same one this is you know four four and a half years later I'm still working on this so and we're nearing five years now since I bought this note that it can happen so just be prepared like it's not all was it performing when you bought it no it was the only reason I bought it it was Chicago and I've I've always been Leary of Chicago but the price was right and it was right at the end of foreclosure and so if everything had gone to plan I actually had it sold in July of 2020 uh and it was when they did the inspection we found out there was somebody living there and here we are this many years later so so uh you know no fault nothing that I did necessarily wrong in that case uh somebody moved in and here we are so it can happen is kind of the the end of the story is it can be a long drawn out thing so be prepared just because it's performing today does not mean it's going to be performing tomorrow and vice versa right and vice versa yeah and you may have somebody move in there and then four and a half years later you're still fighting them to get out yeah I think people get lost in fact that well I'm going to buy a number for take it back and foreclose you know do all stuff and you're like no you may not you may sell at auction all we have a still dealing with a property that um we I think we reinstated three times we're on our fourth one I held off F foreclosure just cuz I didn't want the reinstating like either going to make the payment in full or don't I just didn't want to bother so I let it compile up I then said okay fine we're ready to go and a air stepped in it worked out great I was looking forward to it come to find out that the borrower who passed away they had a they had a a significant other who was on a deed as well that person's passed away and I don't have that person information they were not on the note so now I got to find all their errors and foros and it's a quick State foreclosure but finding errors doesn't make it a quick State at all right so again reverse mortgages are great but understand that you're dealing with it's a non-performing because they passed away yeah uh which means there's a very good chance you're going to have to deal with probate and airs and all that fun stuff so just be prepared the numbers are great and I've done a number of them and they've been really good uh but yes the erors are a thing that you're going to have to deal with so just be prepared for that property has a ton of equity they can't sell it because they have to get a hold of everyone in the family both families and sell it my God so um I see cdy had a comment on Facebook I'll I'll put it into the into the Reel here uh that she's been doing some short-term money for a while now uh which is awesome that's great um that's awesome and I you know nine month deals are always good right so I would definitely reach out to people and start posting about this because we're gonna you know we're going to be targeting if you know someone who who does a lot of these things or even buys a lot of these things let them reach out to us we'll do a show with them I'm very curious about that because my hency on these short-term not Bridge loans but the hard money loans is how am I going to maintain employee that you know that money in esro when a job is done how am I going to trust it listen I've trusted agents before they not screw me but they could I'm curious if there's someone local that can kind of do that work that's just a job where they go in there and they just validate yes that's been other than that am I going to do locally and just drive the job sites doing that yeah yeah no and that's that's not what you want to be spending your time on you've got a full-time job and like that's the that total extra time that you don't necessarily want to take absolutely so I I I definitely want to leave with the ideas and if guys again please put your chat in the chat below what are your goals have accountability Partners talk about that which we be doing our private group have accountability meetings once a week to kind of see where your goals are and adjust it I know Nathan talks beginning of DME every year about smart goals um and make sure when you talk about goals you talk about smart goals the acronyms are sometimes different but they mean the same thing make sure it's something you can measure when I I say I'm going to do five deals I didn't say I'm going to buy these things I'm going to I named a five now I can see and track and see how I do and I can't say I'm going to buy a 500 because it just doesn't make it's not accept it's something I can accomplish realistically right right but buying five is definitely something I can do I have some other Journal goals that we're working on um and travels like that that's going on privately that are personal goals which is fine too it's just a matter of balancing act I know that your daughter's in college now right yeah is there any goals you have with her in the fact that she's not Liv in your house anymore you know it's really interesting our second daughter uh we'll find out in about a month here whether I'm sure she's going to get accepted but we'll get that uh we'll get that official acceptance she'll be moving out in September as well August September so then there'll be two gone and one at home uh so we're same kind of thing and personally what does that mean so then it's me and my son so we've already started talking about you know some things that we're going to do um we're going to do a road trip we're going to go with our ski pass we can pay an extra whatever a couple hundred bucks and we get ski passes for some other Hills as well so you know when it's just he and I that's much easier to do and we'll we'll jump in the car and we'll go and and travel around and but absolutely uh with our daughter away from school you know helping her grow up in ways that help her to become a functioning adult and that's conversations we've had with her while she's been home and that we'll continue to have but it changes you know as as life continues and we don't parent in the same way and anyway that's all that's a different topic altoe but yeah so I think for me is to learn how to incorporate my kids or and learn what they'd like to do better right I've done enough of trying to get them into years of what we do and how we do it and that kind of gets boring after a while I'm sure for a lot of kid right yeah um even though I know both my kids are really good math I think they would kill but this in that rebelling stage of I don't want to do what Dad's doing the dad does it all the time right yeah um but that's okay I it's not something I really need them to do it's just that they understand it right yeah focus on that same kind of thing we're trying to kind of educ them on you know I had actually it was a career day for the school so I had my son in and and sat him down in between watching TV because he's like oh day off I'm like no no no come on let's let's figure this out so took him through you know we've got three-part store business and this is how it works and how it's operate this is you know what it means and this is the kind of income we get from this kind of thing and walking through what it all means and how much do he absorb I'm not sure he's 15 years old you know how much of that actually matters to him at this point but it's something that we can build on uh so we're we're continuing to do that last year one other thing actually so last year we had our middle daughter came to DME uh she's looking forward to coming again I think we're going to bring our son as well and hopefully our daughter at College as well uh that has is yet to be seen I don't know exactly if she'll be able to to come or not but hopefully all three kids are uh you know slave labor that they can get things done for us while we're so those who don't know DME is it's a Nashville it's a note it's a real estate note conference not buying and selling real estate note conference touching about a bunch of stuff Nathan runs it uh dad Nashville it's a great weekend away um first weekend of May get down there you can go on diversifi mortgage Expo there's a bunch of links stuff like that um if you any questions reach out to us about that what are my goals this year is to get at least top three in the ax run competition oh fantastic I got to practice that because it doesn't I did it last time and it didn't go to BR but I have a basement I'm going to put a board up and see if I can do any better there you go and we're going to change up the structure if any was there anybody there last year uh we didn't love the way that they put that tournament together so we wanted to do it more as a round robin so that more people get more time to play so that's uh something to look forward to as well so competition's stiff so bring your aame absolutely um we're g to leave it there guys want to keep it short for this week um we want to hit some goals we want to hear from you guys too though that was one thing we want to pressure on you guys we want to hear some feedback what are the topics guests we love having guests come on we have a couple already teamed up for this year um you know teed up for into January into February whatnot um and we want to continue doing that bringing different topics on um we're going to bring on some of the similar guests we've had before because he had topics like Jeff Watson and Melody and things like that but we want to bring on people who are doing commercial not commercial notes buying and selling them if possible they're just not as common as real estate notes are we also like to talk about other kind of notes reverse mortgage like that if you know people doing that kind of stuff we'd be open to it we still would like to get someone to come on teach us about land notes and convinces if you know anyone we'd love to hear from them and then mobile notes um again I don't want to buy anything that's less than 198 2005 simply because the the structure of the of the uh the the mobile home is different again we will buy mobile homes guys it's got to be on a foundation and detitled we want to make sure it's not a vehicle it's actually a piece of property and that's a key for us so if you are having notes that you're looking to sell please send it over to one of us to take a look um if we don't like it we always have crew people that will look at him I'm sure one of us will buy or give you feedback on what you could do if you're about to buy create notes reach out to us before you do that so we can help you structure that that note um in a better way to make it more valuable and whatnot and make sure you're doing it legality wise is I'm seeing a lot of these note creators who don't know what underwriting is getting someone else they said that they had enough money in the bank account to created it and I went CR right and I asked what DTI and I asked what that meant debt income they said well they can afford the payments and that was their response I didn't get much more than than that yeah are you do there yeah no there's a right way to do it and the right way not only does it help protect you and the borrower um but if you're ever looking to sell that note we're far more interested in something that's been created properly uh and we'll we'll pay accordingly we'll bring on some people who we are connected with who do sell fance notes who have seen some cracks in their Foundation that are creating notes that are dialed down the creation because of some of the stuff they're seeing because they're going willy-nilly and like we see a lot of people and creating as much notes as they can simply because hey it's easy I buy a property I wrap it done deal next project blah blah blah yeah until that's three years down the line things start cracking not any fault to you life happens guys yeah you got to be looking down the road because all kinds of things can happen so yeah yeah well gentlemen Nathan appreciate seeing this year 2025 is g to be an awesome year we're going to continue doing this for the year um feel free inside the link below there's a way to add us your your Google account or your Apple calendar um so that you can see our show comes up on your calendar you subscribe to that uh the B link lets us connect with you as well off air um if you have any special requests please use that link and then reach out to us you'll get both our emails and whatnot so until then guys we will see you soon enjoy your Friday afternoon everyone looking for a great year absolutely.