Sharpening Your Skills During This Time

Tax Liens & Mortgage Notes
6yFollow

Sharpening Your Skills During This Time

Chris SeveneyBusiness Member
Moderator
Investor 路 VA 路 Member since 2015 路 21k+ posts 路 19k+ votes

For many of us we are quarantined at home and working from home but have found we have extra time during the day. While I recommend that time be spent with family and maybe getting some exercise to lose those pounds you have been saying you wanted to lose for some time, This is also a time to focus on personal development.For those who invest in notes, are you taking any steps to further your personal development ?

some recommendations that I have found to be beneficial are:

1. Take a class on debt collection practices. ACA international has a self paced online class for around $99.

2. Study for a MLO license. Whether or not you obtain it is up to you (I recommend you do as I feel in the future it will be needed in more states for licensing). You will learn the ins and outs of Dodd frank and the origination process on what you can and cannot do.

3. Listen to podcasts, videos and audiobooks. I recommend a book on finance - it will assist also if you are looking to build a calculator. The books I am getting ready to read/listen too are influence and pre-suasion by Robert cialdini, zero to one by Peter thiel and mastering the Rockefeller habits by Verne harnish.

Love to hear recommendations from others.

7e investments53 Reviews
WebsiteView Page
6Reply
31 views

Most Popular Reply

Jamie Bateman
Investor 路 Baltimore County, MD 路 Member since 2014 路 466 posts 路 439 votes
6y

Just ordered these two books:

4Reply
See this reply in the discussion

34 Replies

Jump to latestLatest
  • Jamie Bateman
    Investor 路 Baltimore County, MD 路 Member since 2014 路 466 posts 路 439 votes
    6y

    Just ordered these two books:

    4Reply
  • Andy Mirza
    Lender 路 Ladera Ranch, CA 路 Member since 2014 路 1k+ posts 路 1k+ votes
    6y

    @Chris Seveney Great topic and recommendations!

    It's been difficult finding quality, uninterrupted time to do work since my wife is also working from home and sharing the office, plus we have three kids running around the house. I'm writing this at 7 am on a Sunday morning. Early morning quiet is the best time!

    Note management doesn't take much time, especially since hearing dates and sales have been pushed back. Nothing I can about those.

    I've been focusing on creating content for my website and blog, which takes up a lot of time. Once this lull passes, I hope to be ready to go to continue raising capital and getting the next fund going.

    I'm also finally getting my office fully organized, which has been a low priority for months. Having an organized work space is a nice thing! Once that's done and I'm caught up on content creation, I'll look into some of your (Chris) suggestions....

    2Reply
  • Jamie Bateman
    Investor 路 Baltimore County, MD 路 Member since 2014 路 466 posts 路 439 votes
    6y

    I was hoping more people would chime in on this thread. Anyone else have anything they are working on or planning to work on--specific to personal development or note investing--during this time?

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    OP
    Investor 路 VA 路 Member since 2015 路 21k+ posts 路 19k+ votes
    6y

    @Jamie Bateman

    I think what it comes down to is (and I have said this for a while), there are not a lot of note investors out there. There are people who have bought 1-3 notes etc and I consider those individuals people who invest in notes - whereas being a note investor is doing this on a consistent basis. Just look at this forum - same people post most of time and others on tax liens.

    Another indicator was I put out a tape to 250 people and I think I got under 5 people providing bids and this was pre-coronavirus.

    7e investments53 Reviews
    WebsiteView Page
    2Reply
  • Brett Burky
    Investor 路 Orlando, FL 路 Member since 2014 路 110 posts 路 90 votes
    6y

    @Jamie Bateman I'm going get both of those. Have they been good books?

    0Reply
  • Brett Burky
    Investor 路 Orlando, FL 路 Member since 2014 路 110 posts 路 90 votes
    6y

    On this downtime I've taken it to start a new routine. I've been running in the afternoon (because of the gym closure), doing TV HIIT training. Cooking my own really healthy meals, drinking a gallon a day and a couple other things to keep healthy.

    Besides that I've been reading marketing books. Right now I'm in "The 16 Word Sales Letter" and "Simple Numbers Straight Talk".

    For note investing we've been retooling and using this time to make some necessary changes to the system. In a very good way but we knew it'd be a chore when we started it.

    Lastly I've been helping our partner TJ Osterman with the fund and getting that really ramped up.

    1Reply
  • Brett Burky
    Investor 路 Orlando, FL 路 Member since 2014 路 110 posts 路 90 votes
    6y

    @Chris Seveney all really good books.

    0Reply
  • Jamie Bateman
    Investor 路 Baltimore County, MD 路 Member since 2014 路 466 posts 路 439 votes
    6y

    @Brett Burky, those two books haven't been delivered yet but I've listened to podcasts with---and/or read up on--the authors of each and I am excited to dive in. 

    On the health side, I am definitely working out more than I had been, as well (it was a fairly low bar, haha).

    I am curious to see the upgrades to the site. 

    1Reply
  • Brett Burky
    Investor 路 Orlando, FL 路 Member since 2014 路 110 posts 路 90 votes
    6y

    @Jamie Bateman my working out is going to slow. I want to purchase a home gym but know after this I'd not use it.

    I'm focused on slimming and internal cleaning. I'm doing 100+ push-ups a day and running and since in Florida working on a tan.

    I know vain - however it makes me keep going. On Sunday I didn't brush my teeth till like 2pm, that can't be my new norm. 馃ぃ

    I've just bought 10 books after this last thread and plan to get through them all.

    Starting with the Fly Wheel.

    1Reply
  • Brett Burky
    Investor 路 Orlando, FL 路 Member since 2014 路 110 posts 路 90 votes
    6y
    Originally posted by @Jamie Bateman:

    @Brett Burky, those two books haven't been delivered yet but I've listened to podcasts with---and/or read up on--the authors of each and I am excited to dive in. 

    On the health side, I am definitely working out more than I had been, as well (it was a fairly low bar, haha).

    I am curious to see the upgrades to the site. 

    The upgrades really add some more professionalism to the site. We're basically doing a different signup system that lets people have 1 identity and many accounts. 

    We're doing this so that investors have to identify themselves. Basically when you sign up or login (only once) you'll have to put your information in and then answer some of those banker questions (did you live at this address, drive this car, etc). 

    Doing that will eliminate people that might have got kicked off the site and then gets another account. 

    It will lead to less users we know but a better userbase in the end. 

    1Reply
  • Andy Mirza
    Lender 路 Ladera Ranch, CA 路 Member since 2014 路 1k+ posts 路 1k+ votes
    6y

    @Chris Seveney It's not just me, then, haha! In the past year, I've been contacted via BP, Linked In, and phone, at least 50 times by people wanting to know if I had any notes for sale. When I did finally have a few notes willing to sell, I sent info out. About 2/3 never even responded back to acknowledge that they received the info. A few asked questions that resulted in 2-3 email exchanges. A few responded in what I consider a correct way: "Sorry, but we're not interested in those notes for reasons X, Y, and Z." Not one bid....

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    6y
    My one bizz associate had a huge demand for his performing notes right after the market really corrected so had a very good March will see how April shakes out for him.  

    I would see on the MLO side if you qualify in your state for being a mortgage banker Like I am..
    Although I am not active i take my CE every year so i can just pay the reactivation fee and boom I am in bizz.

    going forward I think thats a very smart move.. Test was hard for me since I had been on the private HML side of the bizz all those years.. and the test is all about  owner occ mortgages and all the related  laws.. so it was a learning process for me.. those who have been dealing with those types of loans will find it much easier I am sure..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Heath Jones
    Rental Property Investor 路 Enterprise, AL 路 Member since 2019 路 137 posts 路 85 votes
    6y

    @Chris Seveney

    Learn to sharpen your pencil by analyzing more deals...

    0Reply
  • William Ashman
    Real Estate Agent 路 Los Angeles 路 Member since 2020 路 5 posts 路 1 vote
    6y

    @Chris Seveney Your mind is your biggest asset!馃憤

    0Reply
  • William Ashman
    Real Estate Agent 路 Los Angeles 路 Member since 2020 路 5 posts 路 1 vote
    6y

    @Jamie Bateman I'm taking an online course at UCLA Extension. Really great time to learning and creating:)

    1Reply
  • Ryan Taylor
    Atlanta, GA 路 Member since 2020 路 24 posts 路 5 votes
    6y

    I鈥檝e always been a stock market guy so I just finished the dhandho investor by mohnish pabrai. I鈥檓 currently reading J Scott鈥檚 flipping book. I want to get into the real estate game so I鈥檓 scouring everything on this site

    1Reply
  • Chris SeveneyBusiness Member
    Moderator
    OP
    Investor 路 VA 路 Member since 2015 路 21k+ posts 路 19k+ votes
    6y

    @Andy Mirza

    Exactly. And people鈥檚 biggest complaint is they cannot find assets. Unfortunately many want to find a Porsche and pay for it as if it鈥檚 a huffy bike from 1979 with a banana seat.

    7e investments53 Reviews
    WebsiteView Page
    1Reply
  • Chad U.
    Investor 路 Boca Raton, FL 路 Member since 2012 路 1k+ posts 路 1k+ votes
    6y
    Originally posted by @Andy Mirza:

    @Chris Seveney It's not just me, then, haha! In the past year, I've been contacted via BP, Linked In, and phone, at least 50 times by people wanting to know if I had any notes for sale. When I did finally have a few notes willing to sell, I sent info out. About 2/3 never even responded back to acknowledge that they received the info. A few asked questions that resulted in 2-3 email exchanges. A few responded in what I consider a correct way: "Sorry, but we're not interested in those notes for reasons X, Y, and Z." Not one bid....

     I can relate, and for some reason I've been getting a huge influx lately.  Thought it would be the opposite but most are looking for performing/reperforming notes.  I think people are looking for a quick fix to their sudden cashflow issues they are or soon be having with rentals.  

    1Reply
  • Andy Mirza
    Lender 路 Ladera Ranch, CA 路 Member since 2014 路 1k+ posts 路 1k+ votes
    6y

    @Chad U. From what I can tell, most of the big money has ceased buying performing and re-performing. They seem to be staying in place until there's more clarity on what the defaults are really going to look like. Why take extra risk on buying re-performers which may turn into NPNs in the next 6 months?

    One of our main trading partners is being aggressive right now and scooping up deals now for 10 points less than they offered a few weeks ago. The only sellers seem to be the ones with liquidity issues or want to go to cash for safety. Like us, if you don't need to sell, you shouldn't be selling now because everyone will expect deeper discounts.

    1Reply
  • Mark Gustafson
    Sioux Falls, SD 路 Member since 2013 路 68 posts 路 15 votes
    6y

    @Jamie Bateman  ,  Thanks for the book suggestion. Great content and the short 10-15 minute chapters makes it an Easy and enjoyable morning read !!!

    0Reply
  • Jamie Bateman
    Investor 路 Baltimore County, MD 路 Member since 2014 路 466 posts 路 439 votes
    6y

    @Mark Gustafson, no problem! That one was an easy read but I like the main two concepts. I am on to the other now. 

    0Reply
  • Josie W.
    Rental Property Investor 路 Alexandria, MN 路 Member since 2015 路 19 posts 路 7 votes
    6y

    Great feedback everybody... last week on m way to work I heard on the radio that is is the time to get ripped, get smarter, learn a new skill and de-clutter your house!! that thought had stayed with me since!!

    I have been trying to do a little bit of all that. I have been listening to webinars and podcasts and staying very active on biggerpockets. I think it is great that a lot of people share their journeys. I have learned a lot from it. 

    Also, since they gyms are closed, I have been trying to jog outside. Also, there are a lot of videos on youtube about different exercises. I bought a total gym and putit in my living room, so I use it while I listen to bigger pockets or and audio book

    I have also read again Rich Dad Poor Dad, the Richest man in Babylon, Think and Grow Rich among others

    I also agree that is hard to derail since we have kids in the house all day and they need attention also, but I allow myself to get off track from my self improvement routines because I can get back on track after a day off.

    I think it is great to hear from other people, it gives me motivation to keep going!!

    Thank you for sharing!!

    0Reply
  • James Wise
    Real Estate Broker 路 Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH 路 Member since 2013 路 30k+ posts 路 20k+ votes
    6y
    Originally posted by @Chris Seveney:

    For many of us we are quarantined at home and working from home but have found we have extra time during the day. While I recommend that time be spent with family and maybe getting some exercise to lose those pounds you have been saying you wanted to lose for some time, This is also a time to focus on personal development.For those who invest in notes, are you taking any steps to further your personal development ?

    some recommendations that I have found to be beneficial are:

    1. Take a class on debt collection practices. ACA international has a self paced online class for around $99.

    2. Study for a MLO license. Whether or not you obtain it is up to you (I recommend you do as I feel in the future it will be needed in more states for licensing). You will learn the ins and outs of Dodd frank and the origination process on what you can and cannot do.

    3. Listen to podcasts, videos and audiobooks. I recommend a book on finance - it will assist also if you are looking to build a calculator. The books I am getting ready to read/listen too are influence and pre-suasion by Robert cialdini, zero to one by Peter thiel and mastering the Rockefeller habits by Verne harnish.

    Love to hear recommendations from others.

     I picked up skateboarding again.........Does that count?

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    OP
    Investor 路 VA 路 Member since 2015 路 21k+ posts 路 19k+ votes
    6y
    I have been playing Xbox one with my son - hand eye coordination skills

    Originally posted by @James Wise:
    Originally posted by @Chris Seveney:

    For many of us we are quarantined at home and working from home but have found we have extra time during the day. While I recommend that time be spent with family and maybe getting some exercise to lose those pounds you have been saying you wanted to lose for some time, This is also a time to focus on personal development.For those who invest in notes, are you taking any steps to further your personal development ?

    some recommendations that I have found to be beneficial are:

    1. Take a class on debt collection practices. ACA international has a self paced online class for around $99.

    2. Study for a MLO license. Whether or not you obtain it is up to you (I recommend you do as I feel in the future it will be needed in more states for licensing). You will learn the ins and outs of Dodd frank and the origination process on what you can and cannot do.

    3. Listen to podcasts, videos and audiobooks. I recommend a book on finance - it will assist also if you are looking to build a calculator. The books I am getting ready to read/listen too are influence and pre-suasion by Robert cialdini, zero to one by Peter thiel and mastering the Rockefeller habits by Verne harnish.

    Love to hear recommendations from others.

     I picked up skateboarding again.........Does that count?

    7e investments53 Reviews
    WebsiteView Page
    1Reply
  • Jamie Bateman
    Investor 路 Baltimore County, MD 路 Member since 2014 路 466 posts 路 439 votes
    6y
    PS4 with my son over here. Madden and Garfield Kart. Not quite as fun as GoldenEye on the Nintendo 64 used to be but still fun.
    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free