Granite Inventory and Education | Real Estate Notes Show

well we have a group here and people on the webinar currently so curly we've seen but we'll see who's good at doing this guy stuff because thing how do you know notes so those are our experience this should be easier those are not jump on in as a way for more people joining in here excuse please before it's gave me an orange quiz and how well do you know notes and so you feel free to take this I will post this in take this and enjoy it thanks Tim just stating that he believed his borrower and property I'm gonna put this quiz in the chat anyone else when I enter the chat feel free to do it because the quiz as well next question true/false a second jr.

we know I'm a foreclose on a property in the event a borrower defaults on the loan through [Music] well I'm gonna show link again with everyone else so we don't get over in a crazy on some of the output is ten questions on how do you know no so everybody's on the webinar I do want to just do some quick brief housekeeping as everyone knows pretty much we have an East Coast just nope Facebook group that we we use that we comment questions posting that we also have a facebook note list now we use to indicate where people are living we uses for due diligence find what if a property's nearby we can reach out to someone local to the property ask questions it's awesome and find some local year next of course my facebook business website and then we have an event page what happened today for local people of course we have a default mortgage meetup here local New Jersey I do want to wish everyone help everyone in Florida in Texas safe and sound their family's doing well and every note that so we do run this this meetup monthly we do webinars slash live event so people that are looking to get introductions in network rail people we also do this via webinar we zoom and we bring on special guests monthly you can check out our previous in our youtube web youtube page for our business with that said i'm going to turn his back introduce mr.

Chas Gwyn from granite lone a great sheet ik investments such as well name those best so we want to bring us up and we're gonna introduce you guys can you do me a favor and I've known you for almost over six years now it's crazy to think that like um and who are you who is Braddock who are these famous people that we enjoy talking to wrecker bases no well thank you for having me on Dave yeah believe it or not man six years already right so like I mentioned granted strategic investments were based out of California so hello every to everyone on the on the East Coast it's it's getting late and dinner time for you there it's lunch about 4 o'clock for us here's but grand strategic investments guys we've been around for seven years we have bought and sold roughly about 7000 single-family residences directly from major banks for the GSEs so what we've done is we've been able to kind of build a build a bridge between Wall Street and everybody that's in this room as a Main Street investor it's very tough for you guys getting into this notes face it'll direct to a Wells Fargo or a chase to purchase a note or two especially on a one-off level they're typically gonna want you to spend typically 25 million 30 million or more and how many of us are out there having that in our checking account right so we've built that bridge that allows you guys to get into the space and look at individual loans to then kind of get your feet wet per se what we do differently than any other seller that you'll come across in the country is we want you guys as a buyer to see everything that we see when we buy the loan so that we can ensure your success once you have the loan post closed so what all that really means is that a lot of sellers do not share with you their internal valuation for the property or what potential may be that may be on title or how delinquent the taxes are they want you guys to go out there and verify all of this information so for us we we don't believe in that and that in that mantra because what we see in this business because this business is a less with less brick and mortar than your traditional real estate clay is where you can drive a house go into the property see everything look and feel and touch it we are buying mortgages it's a more or less the paper that's secured to the real estate so for us there's times within this in this paper driven world there's things they just don't want you truly to see see we want you guys to see everything we see or update appoint evaluations we ordered updated title and taxes and credit collateral information and we share this information to you for free Bri we usually usually spend this 350 400 bucks per file or due diligence that were given to you guys for free now what we understand is before we've done a bill together we always are going to tell you them you trust us verify the information issued and what we're hoping for is because the information is so fresh and new once you go out there to verify my valuations and you see that granite says that the property is worth 125,000 when I go look at the property I think the property is worth 120 thousand so give or take Granite's kind of within the same ballpark so with that said hopefully as we get going further and further as we get to know each other better you start to kind of believe in the due diligence information that's been given to you and kind of can save you on field costs as you begin to ramp up your business so Dave I'll turn it back over to you but guys in a nutshell more or less that's granite we built a bridge between Wall Street and Main Street that allows you guys to get into this note space and by Bank direct close all right I appreciate a man so we want to get into you know why I brought you on you name a lot of sorority that I feel is tremendously welcoming in a space as sometimes hard to get into with that said I think that people have a hard time trusting people in real estate general however we quickly get involved with someone that can show is inventory that we can trust not only because of who you are but also what you offer to us okay your your honesty your trustworthy is somebody that's been around for a long time you wouldn't stick around as long if it wasn't we what we do have issue with those sometimes bringing in new inventory find new inventory monthly and the stressors of learning a space for more of just a legal end of it but actually how to do the business and I did want to bring you on to touch on the stressors that we all have and what I've been told by yourself is it you're bringing us a new education that will help us along with that because I find a lot of times we have simple education out there maybe education of you know find some deals JB partner and get into a deal and find out what happens afterwards we're making bids that are not appropriate and not be able fund them then get blacklisted by a seller but along with that you now ruin your opportunity with a funding partner that you may be able to a future deal with so just can you share some of this new education that you guys at Grant are bringing out to not only the beginner investor but sometimes some of the advanced investors that are around hold on Chad's give me one second got muted for some reason give me one second oh there we go you should know my good good I can share my screen I could just hop in and kind of start sharing the screen go right ahead okay so quickly if I can I just take a step back real quick Dave I know we were kind of talking about who we are and what we do and I can kind of quickly fast-track to the training that we're going to be bringing and I think for us there there are some really good trainers out there guys that can truly kind of show you a little bit of a different angle of the business that is their business is kind of education and to teach you when we do get into the educational piece here in a second we're taking it from a different angle with respect to not only is it going to be free but we want to teach you this education to support your business because for us we want to remove any sort of risk and term with respect to lack of information we want to give you that information we want to typically tell you educational wise things that we look for today we're around a give or take an eight to ten person team but we're taking down roughly 1,800 to 2,500 notes a year so you a staff size of that big usually needs to be more than triple that actually handle that volume of incoming on a monthly basis typically two to three hundred units a month so for us we want to teach you how to remain small remain nimble be hub-and-spoke utilize vendors that are nationally used throughout the country in all 50 states especially if you're in New Jersey like you are today and you want to start looking at loans in Illinois or Pennsylvania or New Hampshire or New York and they're not in your backyard these are these are the things from the educational perspective that we want to uncover for you so that you're you're allowed to kind of do this business in a bit more remote fashion on so like we quickly talked about just getting back into who we are what we do and what we're offering I'm currently running the the residential division of a parent company and our parent company has granite Investment Group grant investment groups been around a little little under 30 years they do about a billion won in revenue a year they're actually their core business is centered around senior housing assisted living in memory care they're actually the largest owner and operator in the state of Texas they're headquartered in Dallas we're here in Irvine California right near Disneyland and right here in Anaheim so we started this residential division really kind of on the cusp of the crisis so I'm sure most of us know are familiar with the movie the big short that came out that kind of helped crystallize more or less how this subprime debacle truly happened but really they kind of the way Obamacare got rolled out in 2010 it really began to change the way my parent company and facility providers accepted cash they began to get certain taxes and tariffs on their capital which alleges more or less kind of pulled them back from acquiring more memory care facilities and kind of look a little bit more into this distressed arena um our team that we always want to kind of make sure you guys lean on is we've got a lot of folks here that have been around this distressed in mortgage industry for north of 15 to 20 years the folks that were here well before the crisis and folks that managed through the crisis and now we're still managing at things post-crisis believe it or not we still have thousands and billions worth of loans still tied up in these banks where borrowers are nine months twelve months or more delinquent I don't think the mainstream media is ever going to let you know that they're gonna say unemployment rates are coming back housing is beginning to to correct itself and to begin to normalize and stabilize for us when we're seeing the back end of the product and actually how many loans are falling off the cliff the data says so many things that are different than that so I think that if the market truly understood that people out there are still not making their mortgage payments you would have more folks that potentially are in this room that begin to strategically default on their mortgage because there are folks that haven't made a mortgage payment in two years but they're getting a modification given to them by Bank of America right so you're like wow so you haven't made your $2,000 or $3,000 mortgage payment in two years yet the bank was willing to give you a modification right so this is this is actually what you're starting to kind of start to see it come across come across the market David you seem like this big red now you're muted yeah I'm not sure what it was a button there's a way to make an motivation like skitzy wow that's weird sorry about that there's a way that it's not actually the projection or the way you can see the setting on here homeless always on your side it's on everyone's side right now got it Oh some way then what one of the event people actually hit a button I guess and through one I'm not sure who did it yes yeah I've never done it before so like sir clear yes good we're good great as their iPod as a JP I appreciated the comments in that and the thing I appreciate a man I thought so I think you know get kind of getting back into a day where we were mentioning just just a heads up you may want to mute your side um this is that you know for us there's many loans as we actually acquired over the time we've just figured out a way to best bring folks like you into the market and a way to do that is is to begin to make this this market a bit more normalized for you so let me give you an example so I asked Dave this the other day I said hey Dave if you had to explain to note business in a quick elevator how would you do it and before you knew it Dave and I were five minutes later still talking about the note business we're like that's pretty long elevator right right so I think this is a quick way of explaining the distress note business so if you were to buy a property anywhere USA Dallas Florida New Jersey and the property is worth a half a million dollars and you go in there with your wife or your buddies your friends or over the weekend and see an open house you really like the property and you want to make a full-price offer so the real estate's worth five hundred thousand you're gonna give the offer after escrow closes thirty to sixty days potentially ninety if you're using a lending arm then you get the deed in the title into your name within that time frame sixty to ninety days but that's that's traditional brick-and-mortar real estate the note business is the same situation as five hundred thousand dollar house but what if you made an offer for three hundred and fifty thousand dollars that same five hundred thousand dollar house but I wasn't able to give you the deed for six months would you rather buy it at three fifty rather buy it at five hundred so really the note business is a function of time can I understand foreclosure law and understand bankruptcy law so I can figure out potential loopholes in the law that help me fast track or closure if that's my goal if I want to give in to the real estate and grow my capital and and fix and flip and move on and do that and rinse and repeat or are there some of you folks in this room they're actually looking for yield so you're looking for cash flow so foreclosing and fixing and flipping for and putting a realtor and the property is not your strategy so we kind of have done a bifurcation of both where we can show you both non-performing assets for everybody that looks to fix and flip or we can show you cash flowing loans where the borrower now has stabilized normalises now getting to make monthly payments on a more consistent basis giving you a traditional cash on cash return in a 12 to 20 plus percent range yearly um we supported roughly over 3,500 individual investors like yourself getting into the space believe it or not Dave that's sitting right here in front of you is actually one of those guys five and six years ago when he and I were doing one loan in two loans and he was able to toss me offers of 25 and 30 assets he and I are working on a six loan trade as we speak but this is kind of normally the progression of how the business begins to get going for everybody move this here so like I mentioned just kind of crystallize I think for us and many of you we may not have the exact sort of inventory in your backyard because when we initially got into this distressed space sorry about that when we initially got into the distressed space on acquiring assets we saw a humongous gap in the market when you looked at property values 200,000 and North you saw that every hedge fund Bank money center bank Goldman Sachs Blackrock everybody focused on that asset class more or less because dollar-for-dollar there's more margin to be had on a $250,000 house than a $25,000 house so for us we saw the misappropriation of pricing going on in the segment of 200,000 and below and believe it or not eight years later guys still the bank's money center banks servicers investment banks whoever they may be that actually participate in the space are still not properly pricing loan values or fair market values of 200,000 and less so for us that was our opportunity to get into the mark and be a market maker so like we talked about 7,000 loans purchased today before just a little over 900 assets over the last six plus months I think our scalability between September and the rest of the year were more than double it's because in q4 and q3 of a typical fiscal year the banks will sell more and more assets to clean off the balance sheets that they can go into the front part of the year with clean loans talked about earlier additional of what we do is we're offering you guys all the due diligence valuation information that you guys are going to need to see actually in order to make a sound educated decision right I think understanding the fair market values and the comps etc of a property I think is that is that's always our common denominator in the space you guys need to agree on the values that we give you chances are if Dave and I can't make a deal it's because he's coming up with a different fair market value than I'm coming up with and usually I've asked Dave multiple times if you're seeing a value that is using better comps than our traditional valuations that we're supporting you show them to me show me the comps that are better than what I have because at the end of the day as we all know the market sets the pricing right so we'll be stuck with loans if we think a property's worth 180 but the comps are showing that properties truly worth 90 right so if we stay in the pie-in-the-sky assets never get moved so I think as a seller you'll realize from us that we try and get on the grassroots with you we're bored most sellers and banks if we're not on that eye to eye with respect to value just move on I think for us we're a little bit different in that in that with that retrospect I do want jump in that's people don't realize to be POS or BPOs we have a BPO - little person in the room right here and they'll tell you quickly how it could be way off and why could be off we've seen about 30 percent of BPA's be wrong and there's a lot of explanation for it but understand they are with that said if you're gonna use BPO as your guiding point make sure you double checking it like it Chad says just because he says an ass is worth 180 and you don't want because the value is off submit the ball pit anyway explain yourself I think you quickly understand what that means and that's again he's giving you BPO any reports with the tape there is no other seller out there that does that and give that information Clairol information do you think done after bins accepted you're seeing it before it actually happens so this is their up for and on so if I jump in your stress that point for those listening no I'm glad you did and we as a seller we we run our own proprietary valuation models so we are normally where we're ordering our B POS for you right we want to at least have a starting point pictures comps some sort of value on that house before you actually delve in right so if we didn't have that at the art for you guys to truly understand what the true value is outside of Zillow outside of realtor outside of the normal web sites most of us use but it will say when it comes to when it comes to value there's no better resource and picking up that phone and calling local Realtors local folks that are into the market that can truly tell you what a property valuation will be I'll tell you in terms of starting your business number one realtor's will do valuations for you guys for free yes that wasn't a typo for free why would they do them for free because they'll stay in the game with you knowing that you may be buying that distressed mortgage from that bar where that's not performing and Dave there's at that Chattanooga Tennessee bill that work that you and I are working on there's a foreclosure sale next month October 6 right so that realtor will do that valuation for you guys for free knowing that they could be the realtor once you get the deed in hand and come to them to list the property right so that's normally where your best resource is going to be is going local and going to realtors that are selling properties and selling houses and listing houses weekly or daily or monthly they're your best resource so it's a little bit of a piece of advice I guess when it comes to valuation Dave would you agree on that part yeah absolutely that's a huge huge selling point so you know getting into deals getting into education I think is gonna be a huge point for us oh what you're offering why is it different we're not knocking education out there but what makes you guys do 7,000 loans and how can you get there so I think if you look on the screen I think there's an ecosystem or a new coming investor that they have to establish I think this list a little bit looks daunting so don't let me scare you too much but some of these companies out there and vendor management systems that you need out there you need to have in place as your cut as your business begins to scale so you need to understand BPO companies in the event you want to go outside of a realtor right there are asset management companies that will help you guys if most of you have nine-to-five jobs or you're a full-time mom or dad and don't have the eight nine hours a day to build into this distress note business there are companies etc that will run this business for you Monday through Friday and you are view more or less can be the portfolio manager their supervisor that they're running up the updates to you on a weekly or monthly basis so your business almost Alessi almost can be almost a passive investor saying most if you want to be but in the events you have other things that free occupy your time like Dave has a full-time job but he has vendors out there that help him run his business so that when he gets home from work he can check all the reporting and see what's happened and the developments that happened and his business is still moving in the right direction so I think our different angle with respect to education it's exactly what we're doing here we have internal loss mitigating attorneys we have asset managers on staff we Dave can attest to our gal Claudia who runs my operation team has been around for north of 20 years doing alterative work for assignments and the launches which guys that is everything that ties your ownership to a note is to ensure you have the assignment and the allonge on the asset so our team will help you instruct you teach you there are current companies Casey Wilson Richmond Monroe pro title along with many other vendors that will give to you guys as a Resource Center that will help you guys ensure that your chain of assignments from Bank of America down to Granite down to you is clean right so especially as you guys get to the foreclosure steps there are certain states in our country that if you don't have the proper documentation well throw your file up you have to start all the way from the beginning so these are sorts of companies that will put you guys in touch with will give to you as a resource center will give you the direct points of contact for who to call and who to work with and how to set up an account so that your guys this business can be a little bit more robust and scalable as you guys can see we have occupancy verification curative services training and mentoring REO agent work borrows gift training I think from kind of a high level this is more or less kind of the curriculum and the run-through that we want to help teach you guys introduction obviously to de-stress we're kind of given a high level view of it now how to run a loan analytics and due diligence and risk management's Loan Servicing and compliance I think there's so many at the end of the day there at times can be so many daunting things that we want to help uncover and keep a little bit more simple for you because a lot of this is your guys guard getting new and your you guys don't know who I am and you're getting to know me a little bit better a lot of this stuff can be paralysis by analysis right you can learn so much information and you're like oh my oh my god I don't know enough right then keep you on the sidelines so for us we're just trying to kind of create a offering and a training system that's turnkey that actually removes more of the minutiae from the everyday business and allows your guyses company or let allow for your knowledge base to say look this is brick-and-mortar I need to ensure that I have X Y & Z I need to have a process when I run my due diligence I need to check X Y & Z you guys can have checklists that you run I know Dave we can talk about ROI calculators and and Excel spreadsheets and things that can help your guyses kind of keep your business sophisticated making sure that you guys are catching everything from a loan level perspective borrower centric workout programs I believe at the end of the day especially on this distress knows with no business foreclosure it's the worst case scenario I would rather work something out of the borrower I'd rather give them cash for keys move them down the street give them a moving truck and avoid foreclosure altogether and they sign over the deed to me I'd much rather go that route than have to foreclose so these are some tactics that we want to show you guys and teach you guys so now you guys can look at the business the way we look at the business but that's what how we envision the training Dave in terms of how we can help these folks scale I definitely think it's a valuable information that some people are providing in their education some people aren't it sounds like a lot you know I'm trying thinking from either an average investor or someone brand-new in this space it does seem adlai what would you advise someone else getting into this business that maybe either understands rental properties or fix and flips take as informations great do you advise him do anything else to get started this business I would definitely work with you because you've been cut your teeth on this business for quite some time I think that folks should work with a JV partner especially with somebody who already has systems in place and I can help fast-track that process I mean you've been at this for years and and it's it's almost a few years to get to this position where you feel as sophisticated as you do on running it on running deals feeling confident on the pricing that you're giving so I think the way we like to keep it as simple for newer guys as we what we'd like to root into is your strategy what is it that you're seeking to do are you guys looking for cash flow and you're looking for a passive income in a yield do you guys want to take some of your 401k or self-directed IRA capital and place it so you can now begin to get a yield on that well we want to listen for that um some of you may say look I've got a contracting background or I know how to rehab or I got I know how to properly manage or I know how to turn things into rentals things of that nature well we're listen for that as well we're gonna find loans and properties for you that we can help you strategize with I think another odd and differentiator for us as a seller is we actually take the time to work with you pre-purchase but most importantly for us post-purchase I always tell my guys have to have this job is getting somebody to do the deal but the other half is to ensure that they're successful if you don't make money guarantee you're not gonna come back to granite so for us I think the way to get first started Dave especially for some of these folks that have not bought if a deal before in the room is that they should be looking to work directly with you as they JV because we're going to be giving you guys like we'd spoke about exclusivity with product but I think they can work with you on how to analyze what to look for when not to look for things of that nature I hate to say I agree but I do I think that I wish I had somebody to lean on in the beginning when I did these first couple notes stupid mistakes she's seen catch from a rental agreement thank you inside where your rent rider on there you can start collecting rents just unsure when you're in the thick of things it gets confusing having a partner next to you that can think things through and bounce ideas off of work with some form of JV partners I think crucial but else think education that ferment from sour like you guys is awesome it's a one of the best things out there for and we have talked about the fact of making some assets they'll complement your free training and the services that we can golf with joy mentoring down the road of making exclusive offers for some of these new industrials want to take these courses want to get involved and want to jump in very quickly so that's something we want to work on is getting people in his face quicker than sitting back and do paralysis of analysis getting in JV take education and get rolling is the best way to learn as business is doing it like for example Dave I think you know just just for a newer incoming best your I'll give you guys some just kind of quick quick little educational part that will be a part of our series that we'll be working closely with Dave on is you if you can see in the middle of the screen there we have right under borrower centric workout programs we have something there called hardest hit fund program as well as the government programs so let me give you guys some quick math so if you were able to come in and buy a non-performing mortgage for let's call it 50 cents of the market value so the house is worth one hundred thousand you buy that mortgage from us for 50 thousand if you can call it that borrower and you have a borrower since your workout program and your service or gets ahold of the borrower and the borrower says hey look I've been trying to get ahold of Bank of America for two years and they wouldn't modify my mortgage it's because I fell behind I either got a divorce lost my job had had a health scare something happened right - cause that hardship so for us because we've been in the space for quite a while there's some programs out there that are backed by the government that are through the FHA about one of the loan programs that they are releasing is called FHA 203k che 203 B and if you buy a non-performing mortgage and you get that ball to Reaper form and start making monthly payments you can accept payments as little as 90 days worth of payments and the FHA will come in and give you a ninety seven point five percent loan take out on a new appraised value of a hundred thousand so can you imagine buying non-performing mortgages for fifty thousand getting three months worth of payments i mean having the FHA to take that loan off your balance sheet and give you a full payoff at ninety seven thousand five hundred bucks that's the type of programs and these are the types of training a little kind of nuances that we're going to be kind of rolling out to groups like yourself watching okay so just wait so in the room is um we offer free trade to Lord of any clientele he explained what vetted means in your world are low the Fed in for us means approved we know you you've signed our NDA the information that we're given to you is proprietary what I want to make sure it's gonna stay as exclusive and or not this market all throughout the internet so vetted for us is more or less than approved buyer who's kind of come in to our website and filled our information so at least know who you are we're not just kind of given the information out to the world so that's for us what that it means I do want jumpin also as I'm sure you see unless I have brokers out there you know you guys only these assets are selling them yourself you have collateral you're not a sellers agent you're not a buyers a you guys actually own the collateral there's tapes throughout the world like you said before asked around you guys are strictly principle seller of everything you own you can trade immediately the great question Joe I'm sorry Joe email came through Dave I think that as you know a lot of these groups out there are presenting themselves as principal owners and and and they own the tape what why they're trying to show you the tapes that you can bid the tape but they're pricing they could potentially make a spread between what you're willing to offer and what they'll give the actual real seller so for us we can show you assignments launches proof of ownership from bank into granites name a question that you must have asked is when people are trying to show you product can they prove that ownership level can they show you actual documentation that has their name on the actual documentation of the product they're trying to sell so every asset that we mark it out every loan REO property that we show you is owned and managed by granite and we don't broker as many opportunities folks have brought us to put out their product to our database as we have thousands of investors that are spread throughout the country we do not broker any loans that we also show out to the market so everything that we market and sell we on the mortgage on so Chuck we have a few questions in the chat window if you can look over at it if you're unable to see it I'll give you a a spit out Kim asks question also does he need to have LLC set up to be vetted mmm let me get to that chat window I'm not sure where I put that Dave it you should be should be a chat in the bottom you're screening you're on your zoom window yeah good question yep yeah no worries so so to answer that question to get back to here the slide here sorry about that tense the question no you can sign up as a self there are particular states know that you are gonna want to be kind of set up through an LLC or an S corp just kind of have a little bit of a protection against yourself as an individual especially if a borrower wants to contest and once the state no look this is my house and wants to come after you as the lender you may want to always protect yourself via the being in an LLC or an S corp or some structure but you best talk with your CPA about but in regards to kind of coming in and get signed up and starting to see some of our stuff you can sign up as a self for an individual here if your will see it from Doug what pricing expection expectations for OneNote versus a small pool on percentage of bases of ppl um I do want to jump in there and answer that question to a point a lot of people in the space are selling that you buy based on BPO by UPB I strongly encourage people don't bid based on a certain percentage of BPO you you really should run some kind of path leader to find out I've been on things which has at seventy percent of value I've been at forty percent of value sticking in at fifty-five percent of value may work for choice they will may not work for you so you would you learn when you buying multiple assets in one shop someone comes at you and wants to buy five six three four versus just one well I have that slide here Dave but to answer that question is we let me use this example I would say and who is that question from Dave the confuse Tim sorry about that so no yes the pricing varies between if you purchase a one-off or you purchase a bulk level amount of assets so our pricing ranges from wholesale more or less to retail so kind of using a kind of a simplistic example it's almost like Costco right so where you know it's almost as if you go to Costco you're gonna get a much better deal for buying both and if you went to Safeway right so so absolutely I think for us what you'll what you'll really come to enjoy especially as you look at our pricing is we understand that we're leaving meat on the bone for you we're knowing that we're at time selling loans for to cheat because guys we're in the game we're in this game to hit singles and doubles where other sellers absolutely are in this game for homeruns sure we want to make money and homeruns happen when loans get paid off or borrowers want to walk away and sign the house over to vessels or homeruns but usually what we still bills to you especially on a one-off level even if you buy one there's meat on the bone I mean there's deals a roller pricing out for Dave right now for some of them are in the high 40s some are in the low 50s of today's market value so for us we still know that there's there's there's room in there for foreclosure costs or servicing costs or potential cash for keys for a realtor Commission's title and escrow things of that nature and you're still going to make a north of a 20 percent return so we know that we're leaving good meat on there for you guys but yes to answer the questions directly their pricing does range between one-off level and and bulk level so if you buy one lawn the prices will be different if you buy five or ten or more the next question we got here is if you able see is what happens to us as an investor if we own a first for the Shindo and the home gets destroyed by national disaster or a fire as affect the value of the note David are you are you keeping all the force-placed insurance that we have on our assets once we sell it to you Louis don't you you mean still be on mute my friend so um yes more most every asset that we own and sell we have a force-placed insurance which protects against hurricane Irma hurricane Harvey things of that nature as you guys can see what's happening up in Washington and Oregon where half that state is under is under siege with respect to fire so every asset that we purchased directly from the bank we actually expense force-placed insurance on our assets the cover against the sort of natural disasters and they're they the first place insurance policy remains in place I believe for 60 days clothes that we sell the asset to you so what you would want to do within 60 days of ownership so that if something were to happen between the the transfer handoff between us and you you'll want to make sure you still call that same force-placed insurance vendor and just get the policy extended or you can convert it over to whatever you choose but usually if the event of a natural disaster happens the insurance will cover to you and usually you'll get a full payoff I'm on that note we've had we've had alone years ago where the guy walked away from the house she left the UH the expeller she left something on in the property the property burned down but our horse insurance covered it and we actually got a full payoff on the mortgage so usually that's typically what happens so it most likely should not devalue that no awesome we want to get into talking about you know we had all these education all this information coming out what's the next year looking for you guys how many assets you're looking to sell you know how often will you see new assets um you know what we expect you guys next twelve months that's a great question Dave I think for us especially for everyone that's in this room today I think when you look at our size and what we're going directly to banks and we're always raising capital it's easier for us to raise capital when when the investors can see a consistent supply of properties consistently coming down the pipe right so for us we understand it's hard for you guys to raise capital when the product that's coming to you is inconsistent comes to you one month doesn't come to you for another four months and you see a lot of inventory and then it goes away so I would say for the next 12 months on a conservative basis I would say you would see give or take eighty to a hundred and twenty look brand-new loans a month for the next 12 months and I would say that's a conservative volume amount Dave so I would say between the next between the next 12 months I think we'll put out north of 80 million to a hundred million worth of equity in capital which would shoot what should normally bring us about twenty eight hundred thirty five hundred assets so give or take two to three hundred units a month is what we're forecasting in 2018 to be able to put out I want to specify people in the room you guys sell first position only at this time correct correct correct there's times you know look we understand seconds there's a lot of different exits and good margins and good ROI is in seconds I've been in the first lien game for eleven years now I want to be in senior position when I buy a mortgage not knocking any junior lien position buyers um but but if I ever go to a bank and the bank happens to own the first mortgage and a second mortgage and we can do a combined sell I'll absolute we take that deal all day I have a lot more bargaining leverage with the borrower when I do that so today's first lien only stay tuned for the future for potential seconds all right so we did talk earlier that in the coming future what we're looking to do is get more people onto your education program get more people buying by people buying your assets you guys can buy more we're going to be doing in the we're going to have more conversations about getting people to buy your inventory directly and by using me as a way to get exclusive offers we're gonna get more into as we come along but I think what people need to know is that we want to get you by whatever that means however that means like a buying I think that you guys got going on too and I'm going to bring it back to you do you guys have anything else that's coming out anytime soon that you guys can offer to some of the new investors besides some exclusive offers now you're gonna probably look to gift of meet it to work with new investors long with your training program to help out bring else that you guys have coming out the you guys want it or place you gonna be some people get meet you guys well yes so a lot of different things for so for many of you Dave if what you guys can do is if you do want to get signed up and get something for inventory we do want you guys to go through a day of initially to kind of start see it's most of our products you can visit our web site at Grant strategic comm we do have a get started button we have an NDA and if any package that we would like you to fill out that say electronic we would definitely ask me there's a referral by source there and we want to make sure that we understand where you guys are coming from so if you guys wouldn't mind putting Dave putz down as your referral source and then Dave as we kind of get some of these studies packages in then we've already kind of segmented a portfolio that we want to kind of show you guys and see if this fits the criteria maybe after after I hop off you get a better sense of what people are looking for what assets they potentially are looking to seek and locations etc to ensure that the folio that we kind of dug up for you fits the criteria but I would say that within the next two to three weeks it kind of depends on on your timing so you and I can strategize we've got assets we got a portfolio available now for you awesome so I do want to idea where people are at with their investment opportunities and where they're at so I'm gonna polish that before we get into next topic and close up for questions is somebody to throw up a poll just for people just quickly indicating where they're at with the investment world just by clicking letting us know this is completely anonymous you your information will not be shared with the group I will see it but that's it I'm just tell you have the sense where you're at so if you just click on their radio buttons indicating your answers or their app will just give you a two-minute raise we look at it trying to make sure you put that you bought one loan in your life and while you're doing that I want to stress that gang in this business can be complicated but also you have a lot of tools in value this space is extremely small a lot of friends a lot of people would support you a lot of people have answers for you it's a nationwide group but we have as I said before a great Facebook community we can share ideas questions information and you can feel free to email me just any question you have in the upcoming months we want to stress getting you involved whatever that means however we can stop that question so does it what we just finished up as one of these old questions is there any kind of time frame when your education courses will be become available so yes I would say we're kind of on track at this moment for the middle of next month I kind of kind of put our first curriculum and our first information out there chances are we can kind of release that a little bit early for you and most of the group that's on this on this webinar so they got to give a sneak peek a little bit it's a majority of that product so I would say give or take a month day and we should be ready to rock wonderful we're looking forward to it I'm gonna open it for questions and last 10 minutes or so charge anything else you want to touch one before we go right to questions I'm gonna end the poll so we can everyone can see our pretty faces again just a quick idea so we can see kind of what the poll is on the people a year it will not indicate your name but you can quickly see where ones at on there the numbers currently we have let's say 2000 on the call either phone calls and whatnot but here some ideas we have a lot of great beginners want to don't dive in this is awesome a couple people have done me the bigger numbers and it looks like we have seven ready to go that's exciting and those who voted no let us know why is something you're holding you back or what is it if it's capital please don't be concerned capital we can there's IRA money there's retire money we can work on all kind of stuff so does it need any kind of less comments questions things you want to bring up to the to the audience as we're still recording this and we'll be posting on the YouTube feeds I think that for many of you that if you can utilize a proper resource and you can ensure that you can get the right questions that you may have answered and you can kind of keep your strategy small at first and then as you get more comfortable begin to expand that box I think that will be a the quicker the quicker move for most of you to be able to get onto the playing field who have yet to purchase their first mortgage or their first note especially if you're looking to potentially start small I think if you keep your strategy pretty simple at first and then expand a strategy as you grow further will be the best angle and the best opportunity for you guys to actually join us and get onto the playing field I appreciate you being involved being here and joining me and sharing whatever one everything you got going on I think it's amazing you guys been around forever since I began the fact you guys have done what you've done for so long and never one bad thing is said about you guys every table always had a lateral I don't believe we have any question to my audience for you but says we definitely want to make sure we have your information do you have a quick view share your screen to show your chemo desk or for your email us in the chat box whatever works for you so I everyone can write down also throw it in the chat window for those people for later there you go there's some also put these email just in the actual the website you can use it with a website forum and for those who need it also put the email address in it there you go once again thank you very much just I appreciate are you gonna be joining any kind of conferences coming up the next Co months I just don't need yourself real quick to be here locally in Orange California for the distressed mortgage and private lending ex well in the month of October we're going to be visiting hopefully if hurricane Irma did not completely wipe out the Fort Lauderdale in Miami area we're gonna be in in Fort Lauderdale in Miami and October for the pitbull conference and then we also will be one of the main sponsors in early November for the note Expo that's being put on by colonial funding Eddie speed repast so if there's a chance for us to get out to me you guys that'll be in Dallas Texas in the month of November Fort Lauderdale in the month of October in here in Orange California here this weekend wonderful well again thank you very much I appreciate your time with me on Dave all else thank you again for joining us and we will see you again soon thank you.