NoteC.A.M.P. 3.0 Day 3!
Today NoteC.A.M.P. 3.0 rolled through Day 3. Scott Carson led off the morning with a call for action. Carson noted how note investing at some level is a numbers game and you may have to submit multiple bids to get one that will close. At the same time, its important for note investors to have a team and realize they don’t have to do everything. Carson also had this nugget: the perfect deal does not exist! This really hit home for me. Scott is a very heartfelt coach who strikes a good balance between “coaching up” and a kick in the pants.
Belinda Savage of MidAtlantic IRA spoke next and had some scary numbers for retirement. 45% of Americans have no retirement savings! I sincerely hope people reading will think about this. At the same time, she noted how Wall Street has failed to generate growth in the average portfolio over the past 20 years. Savage discussed how an IRA Asset Business Trust works. Some benefits include simplified administration of investments, decreased need for custodial approval, time and fees, making direct investments and using a local bank or credit union to have great control over payments and record keeping. The legal status was also protected in a federal court case.
Next up was Adam Adams, who in less than a year has bought and managed 23 notes. Adams discussed how he uses Customer Relationship Management (CRM) to integrate, organize and automate his notes business. Adams uses PipeDrive, which can be used to record and track business progress and also professionals such as attorneys, realtors, loss mitigation, servicers and bookkeepers. Adams also echoed Carson in that no one can do it all and noted the need to master delegation. Lastly, Adams talked about social media and how me maintains a presence on several platforms. I am new to this whole subject but was impressed with his delivery and subject expertise.
Scott Carson spoke again and discussed the need for note investors to be able to raise capital to fund deals. Carson demonstrated it's sometimes possible to find contact information for potential IRA investors with some online tools. Its very impressive what can be found online these days.
Michelle Hill next delivered an inspiring presentation. She explained how she started her business largely to ensure a quality life. Hill noted how she adapted and changed her business over time to adjust to new environments. At the same time, she noted how she treated people fairly along the way. Now, she lives in Hawaii. In her own words, Hill “lives life on our own terms.” While not as technical as others, I was very impressed with Hill and how she set goals, made a plan and took action with an end destination in mind. In her own words, she lives life on her own terms.
George Antone taught us some ways to hack finance. Antone started his career in IT and has accomplished much including writing several books, helping develop Quicken software and having success as a real estate investor. Antone discussed how people can make different decisions with their money to save hundreds of thousands of dollars over their lifetimes, with savings in housing and insurance.
Scott Carson closed out the day discussing the positive near future outlook for note investing. Carson rightfully noted how all people have a choice between two options. First, people can complain and place blame and fail to act. Many of these people let fear stop them. Or, people can make a plan and take action and have a chance to succeed. These people are able to overcome fear, which Scott notes as “False Evidence Appearing Real.” However, Carson also noted how everyone should have their own definition of success. Carson talked about the need for change to meet your goals and delivered a heartfelt call for action. It doesn’t happen all at once. But every day it’s important to just do one percent better than the day before.
Overall, I’ve gotten the most out of this conference than any other. Why? Quite simply, I decided to. I took it more seriously. I gave it my undivided attention. I minimized distractions. I’ve even taken steps into Social Media, which I used to avoid like a cat avoids water. But we all have to make decisions to smash through our barriers. In the words of Rocky Balboa, “That’s how winning is done!”