mortgage simple definition: Wholesaling Notes with Justin Bogard

Wholesaling Notes with Justin Bogard

Wholesaling Notes with Justin Bogard. You Don't Always Need a Ton of Cash to Note Invest

Wholesaling Notes with Justin Bogard video duration 45 Minute(s) 32 Second(s), published by We Close Notes on 19 09 2018 - 22:56:06.

Episode 344 http://www.WeCloseNotes.com Scott: I'm excited to be here
You can get a lot of nuggets out of this show
We're honored and jacked up to have If you are tired of acting as the bank after selling your Real Estate and owner-financing the loan with a promissory note, we can offer a sound and painless exit .

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Episode 344
http://www.WeCloseNotes.com

Scott: I’m excited to be here. You can get a lot of nuggets out of this show. We’re honored and jacked up to have somebody who’s doing a great job and awesome things out there. The man, the myth, the Indianapolis note wholesaling legend, Mr. Justin Bogard from BrightPath Notes. Welcome to the show.

Justin: Thank you very much, Mr. Carson.

Scott: For those that don’t know you, share a little about who you are, your background, how you get started in notes and we’ll go from there.

Justin: Back in 2004, I bought my first home. It was what we called a HUD Home. I was wanting to put some sweat equity into it. I found one that needed a new carpet, paint, appliances and some random patchwork here and there. I lived in it for a few years and then I end up selling it during the downtime, which was about ‘08 to ‘09. I was thinking about how everyone was telling me, “You probably shouldn’t sell the property right now because you’re not going to make any money.” What do I know? I had a realtor friend of mine who helped me stage the house and helped me understand how to sell the home and I learned a lot from him. I sold it within 24 hours because I basically did exactly what he told me to do. I staged it the way he wanted me to and I made about $3,000 on it, which was nice.

Scott: I get a bug for investing in real estate. I was like, “I sold this thing in a down market. I made some money on it.” Everyone else was telling me, “You don’t do that right now.” It’s like, “I did it and it works.” I went out. I did some more wholesaling deals and some fixed and flipping and also invested in myself and got some real estate education. I had some mentors and some coaches teach me the process. I spent some money on that. I had a full-time job at the time. I was a database analyst working for some print companies. I fired my boss and then I went on my own. I wholesaled some more deals, fixed and flipped, turn into some rentals, which I did like a whole lot and then notes came into my life.

Justin: There was a guy that came into town and did a presentation on note investing and buying mortgages in the second-hand market. I was like, “Why would I do that?” I listened to him. I saw his presentation and I saw his case studies and how he made money and I’m like, “This is great. No tenants, no toilets, no trash. I can be the bank. I own nothing but I control everything? This is for me.” I turned my real estate life around and said, “Let me liquidate all my flips. Let me figure out how to get things into notes and transition into notes.” I learned how to wholesale notes. I learned how to buy non-performing, performing notes. I’ve been networking a lot, meeting people like yourself, Scott. We met at the Note Summit. I put myself out there. I have my own Note Meetup now in Indianapolis that I do. I’m starting to do social media. I learned a lot from watching the We Close Notes podcast and listening to the marketing. It’s really about marketing. You don’t have to know everything about the business. You need to put yourself out there so that people know who to go to. That’s where I am now. You saw me speak at the Note Summit. I’ve been to some more events and been on a couple of podcasts now, a couple of radio shows. My head’s getting bigger and bigger.

Scott: You did a great job presenting at the Midwest Note Summit that Vena Jones-Cox put on there and it was great. Let’s talk about a couple things. I’m sure you’ve heard people get into this, “I can’t find any deals. It’s too overpriced,” and stuff like that. When you know how to market, you can find deals. Would you agree to that?

Justin: 100% and there’s not one place to buy notes. That’s what people get hung up on especially being in the note business. There are a lot of people that are hung up on, “Where do you buy deals?” You show people where to buy from banks and then private seller category is essentially untapped. I’ll send out direct mail campaigns to people that own these seller-financed paper and buy it from them and those are really my best deals.