EP NNA 14 - BASE HITS AND HOME RUNS
A successful note investor is like a professional baseball player who uses five of the best tools in his arsenal: somebody who throws, catches the ball, plays defense pretty good, runs the bases, and has his eye trained on the ball like a hawk on its prey. And when it comes to real estate and note investing, scoring base hits and home runs early on can boost your financial standing among your peers. Home runs are great. God comes with big home runs, big checks – and what causes big checks?
You either bind the right price or the property has appreciated over time frame, or hold on to that note through foreclosure. You end up negotiating, maybe you speed up a foreclosure time frame and are able to offer cash for keys or the hedge fund messes up on the value. Then you see the value that you find is a lot more than what the seller believes it is, and you’re right and they’re wrong. But I’ll let you in on a secret: when you swing for the fences, when you’re constantly swinging for home runs, you’re likely to strike out more. If your deal is a home run, you’re going to make a whole lot more offers.