Be the lien lord

May 9, 2017 bradycdurr

Hello, everyone. I just want to let you know I’m coming out. I’m coming out to be a note investor. You see, I was determined that the path of my life after retiring from the military was going to be a fix and flipper. I was so in awe of accomplishments that my grandfather did in east Texas, in a little town called Gilmer, with buying little houses, fixing them up, renting them, or selling them contract-for-deed a couple times.

In fact, I bought a couple of houses in the military that were fixer uppers. We fixed them up, and then when we were done we moved out and sold them for a lot of, well, we did well considering the areas we were living in. These were things I knew. I knew what it takes to gut kitchens and bathrooms. I knew what it takes to install windows. I’ve done it. I know what it takes to re-plumb a house. I know what it takes to get all this stuff. I know the true cost, the true time, the true labor that this stuff goes into. I was determined that was my path, so I decided I need to know people.

I joined my local REIT. A guy named Jimmy Reed, awesome man of God. I really enjoyed his meet ups at DFW, at the Fort Worth REIT group here. That first night I went, a guest speaker told me about the concept of being the bank and how I could help people stay in their homes. I thought, “Oh my goodness. This ties so perfectly with the culture that I learned in the Air Force, which is community service,” and there was a way for me to support my family with this.

We had this thing where sign up and do this and come to this class, and I was like, “Man, I’m just not sure about this. Is this true?” Because I’d never met the guy. It was Eddie Speed. I had to do more research. Then I came across this guy named Scott Carson and We Close Notes and I started following him and everyday he was posting something positive, a tip or a trick or a … not a trick, but some insights to the industry. Those things that he shared with me not only helped me understand this business, but it actually helped me in my personal life, so I’ve truly felt that Scott Carson’s been a mentor to me and he doesn’t probably even know me.

He’s never met me, but just the energy and his knowledge and his willingness to share and train, as the heart of a teacher, that’s what I’m looking for. I want a heart of a teacher, because I have a heart of a teacher. I’m sharing this with you because there is opportunity out there to buy bad debt and that sounds totally crazy, doesn’t it? Why are you going to throw good money, good money that you’ve worked hard for to buy bad debt. Well this isn’t credit card debt, people. I’m buying a house. I’m buying a piece of paper to get people to pay and that piece of paper is backed by a physical structure.

If I can help them stay in their home, great. I’ve helped them keep their emotional equity in their house. I’ve helped all those memories stay there and the neighbors probably like them and want to them to stay, but if they don’t want to work with you and you got to foreclose, well then you’ve probably helped the neighbors out, because they probably didn’t need to be in that house anyway.

Foreclosures not the … One of my neighbors is like, “Man, this sounds like you’re preying on people,” and he just happens to be a landlord.  I am like, “So tell me, what happens if your tenants don’t pay their rent?” “Well, you know I’ve got to evict them.” Like, “Well why don’t you just let them not pay? Why don’t you lower their rent?” “No, no. We don’t lower their rent. They got to evict them.” Well guess what? As a note investor, I can lower their payments. I can lower interest rate, I can forgive debt, I can put them into a forbearance where we do it as a trial period.

The upside is that you’re helping communities. You’re helping people get back, helping people that want to be helped, helping them get back on track, get their lives together. You’re helping people that have been basically just forgotten. They’ve cast them aside as not worthy of their time, but these are good people. Again, not all of them are good. Some need to go and I’m sure when we get them out of there, the neighbors are going to be much happier because we can put someone else there that wants to be there.

Anyway, that’s just kind of been my coming-out-of-the-closet transitioning, figuring out what it is I want to do with my life of 20 years in the Air Force. I know one thing is I’m good with paper and I know I’m good with people and people are important. People’s lives are important, so anyway if you want to team up with me, let’s go. Let’s do it. I’m just so grateful for Scott and all of his mentoring that he does virtually everyday, everyday when he’s on YouTube. Matter of fact, I think I’ve watched every single video he’s ever made, probably since July of last year, all on Vimeo. Most everything. He shares it all and doesn’t even charge for it.

If you’re thinking about getting into this space you need to know that there’s a lot of upside to helping people, the upside of controlling your life and creating your own destiny. The downside is, if you don’t do your due diligence, if you don’t do the research, do the legwork, the footwork, put in the time and the effort, you’re going to lose, you’ll lose big. But it doesn’t have to be that way. You don’t have to lose. You can win and when you’re in a big city like me, DFW, I don’t how … I’ve got untold number of We Close Note minions within a phone call’s reach, within a driving distance and who are more than willing to help me anytime I get into a bind.

I share that with you because if you’re looking, if you’re searching for something, if you’re searching for something bigger than yourself, you thought about maybe being a landlord, well guess what? You can be the lien lord and the lien lord doesn’t have to do with toilets and tenants and dogs and neighbor complaints, because well you’re the bank and the bank always wins. That’s it. That’s what I’m going for, that’s what we’re going to be. We’re going to fix mortgages, we’re going to fix people’s homes, not their homes, their paper, right? Because we don’t do toilets or tenants, and we’re going to be the lien lord, not the landlord.