Is There a Shortage?

I hope you had a productive week.

For some reason this week there was a ton of articles on the spring housing shortage. Is there truly a shortage? Or have our expectations gotten out of control? Can you spend a little more time finding a house that needs some "TLC" in a good neighborhood? On the other side of the equation, mortgage rates are going up, but rates are still respectable to where homeownership is not out of reach. I know from our perspective that some markets are tighter than others, but we are always able to find houses to purchase.

Is there a shift in mentality needed for homebuyers that are entering the market this year? I would like to hear your thoughts on the topic. Until next week, let's all be part of bringing Wall Street to YOUR Street! Have a great week and I look forward to speaking with you soon!


Transparency = Caring

I hope you had a great week!

For the past few weeks, we have been finishing up one of our properties in Indiana.

We have agreed to sell it with owner financing to a local family. This family has a special needs child. We were supposed to close the transaction this week, but there was an emergency with their child to where they had to take him to OH for surgery. We had the family scheduled with our Title Company to sign documents and close. With this emergency, they could not close and the Title Company charges a fee for "No-Shows". I was able to talk to our title representative and explain the situation. She was very thoughtful and wiped out the fee. She then told me that when the family comes in to close next week she had a few gifts she wanted to give them. It really touched me, and I thanked her many times. She said something that reminded me why I am in the business " Ryan, we all go through tough times in life, and if we cannot help one another why are we on this planet".

One of the core values we live by is "Doing The Right Thing". This situation definitely falls into that category! I am really excited to get this family into their home next week! I will share some pictures with you once we get them in.

 


Creating Value Means What.....

Earlier this week I spoke with a good friend about how he handles his LinkedIn account and online experiences. He told me that the majority of his connections were just looking to quickly sell him goods and services, without even taking any time to build a proper business relationship with him. What he told me really hit home, as I then realized that I was also having the very same experience with many of my own LinkedIn connections.

This approach is just not acceptable to me. I personally believe that for any mutual business relationship to be successful and of VALUE, a bond of trust should first be established..In doing so, any and all questions could be discussed as we learned about each other’s business processes and services. I am currently growing my business organically, and wish to provide you and other select LinkedIn connections VALUE. Is there something mutually beneficial that we can work on together? Does this interest you in any way? Please let me know how you feel about this idea.

 

 

 


What a Week!

This past week was full of so many emotions! We commenced beta testing for our due diligence platform, and also purchased 2 assets in Indiana. The launch of the platform by far has been the toughest challenge I have faced in my career. I am very thankful for my family, colleagues, and friends that have supported me on this journey. Now the next chapter of this journey starts this week with implementing feedback from the beta testers, creating the new website for TruExchange, and throughout the week I will be sharing our progress on our recent acquisitions. Let's all be part of bringing Wall Street to YOUR Street! Have a great week and I look forward to speaking with you soon!

 

 


Have You Ever Felt Lost?

Have You Ever Felt Lost?

It seems like I misplaced my Crystal Ball

Has this ever happened to you?

That is how I felt this week, and all that I needed was just a little time to reflect

I started The Platform Journey several months ago, and I had no clue how it would turn out

This journey has taken me down several paths. Some have been good, and some have been not so good

However, this journey finishes I know two things: I have put everything that I have spiritually into this journey, and the Platform that is launched will provide great VALUE to you

Thank you for allowing me to share my personal journey with you

Have a great week, and I hope your own journey is going well!


This Week Has Been Challenging!

This week has been Challenging and Rewarding

The Platform is coming to LIFE!

Dashboard has gone from mock-up to development

Had a Discussion during the week with an individual that watched the dashboard video (https://lnkd.in/g_t6zaT ) from last week

The conversation went well, and he provided some great feedback and improvements. That all have been documented for future releases (I will share our conversation in an upcoming post)

Platform Lesson #1 from the week

Functionality is critical

And this is something I know, but this week the details got the best of me

I was too focused on getting three aspects of the platform completed and I lost sight of the end result

Providing automation and functionality for you.  I hate when I lose focus on the end result.  My passion and perfectionism got the best of me!

Which leads me down the road of tangents.  Can you say SQUIRREL!!!!

Platform Lesson #2 from the week

Never lose sight of your why

From the beginning of this journey, I have been focused on providing value

If myself and our team cannot provide this to you then we have failed

This is what drives me every single day.  I love the challenge!

What is driving you on your journey? Would love to hear from you!

I look forward to connecting with you next week!

Cheers!


I Put Everything I Had Into It

I put everything I had into it

Just could not imagine it would turn out this way

How can you go from “zero” to a functional mock-up in a week?

That is what I was asking our developers this week about the dashboard project

They had a simple response that was astonishing… We believe in your vision!

As I am writing this I am still blown away!

The conversation that hit home this week for me was with our lead developer and myself

The topic was on our launch date and functionality

He tells me that we are on schedule to have beta testers at the beginning of February

He then dropped the bomb on me…The platform will not be perfect and will not have all the functionality you want

My response…. “WHY?”

He calmly told me “The platform will be evolving daily for the next 3 to 6 months.”

I had one thing on my mind…..VALUE….I asked

How do we provide value to our users if all functions are not available for beta testing?

His answer was direct and to the point “Features we have developed for beta testing will give users back 3 to 4 hours daily by using the platform for their due diligence.”

I then added, “Our number one goal is to automate as much of the due diligence process for our users as possible, and ensure the data we provide is accurate and timely.”

What a great conversation and connection we had.  It is great to work with a team that shares your vision and values!

Every day I know more and more I have made the right decision to develop the platform

When have you taken on a large project what have been some of the struggles you have gone through?


I Couldn't Believe It!!!


I Couldn’t Believe It!

I did not know what to do!

I have never built a platform

But John and Mike have really stepped up and have gotten knee-deep with me (Not their real names by the way)

Design plan

Domain and Company name created and secured

Artificial Intelligence requirements

API Calls and Automation established for Day One

Next week will be a full week of development and testing.  I am looking forward to testing the AI portion of the platform. (This will allow you to upload files to the platform 24 hours a day!)

There is one HUGE big ask on this project……..ME!

I know I am going to struggle right out of the gates with the platform design and functionality, and wanting it to be perfect!

Great thing is that John and Mike have already had a VERY long discussion with me on expectations and results.  Let’s see how this goes when I start testing!

Goals for the week:

  1. Be patient
  2. Know this is not a sprint…Great platforms take time to create
  3. Platform will launch with imperfections…Be GOOD with that

Just have FUN!!!

What tips/tricks can you share with me?  I can use all the help I can get!


You Said What???

You Said What???

NO!

That is the answer I got from numerous developers I have spoken to about creating the platform

Speaking to 15 plus developers = Not all conversations are equal

They either said they do not have the expertise or did not want to get into a long-term project

The answers that surprised me the most were:

“I just work to pay my bills”

“The development time would cut into his gaming”

I do not understand the mentality of not wanting to take on work

From all the challenging conversations, I have had this week there is a silver lining

I have found two developers that are really passionate about developing new platforms, especially in an underserved market as note investing

Next week I will be spending more time with both of them to discuss the development plan and strategy

Thank you to everyone that has reached out to me with their referrals!

Time to start saving time and spending more quality time with the family!


What the Heck is Passive “Note” Investing?-On the Hunt

I last left off with you on the quest to find how I could buy directly from lenders. This was by far one of the most difficult things I have done within the note industry.  I have worked in the financial industry for nearly 20 years, and I thought through my connections I could easily find the right individuals to speak to.  I was sorely WRONG!  I started by calling connections that worked in collection departments.  They knew what I was talking about, but did not know who I could speak to.  Then I started reaching out to mortgage brokers I knew and they pointed me to speak to individuals that handled REO’s (Real Estate Owned) for lenders.  When I was able to reach these individuals (Yes, reach!), these individuals are very busy and have very little time to talk.  After I spoke to several of these individuals I found out I was not prepared.  I was not asking the right questions.  I regrouped and came up with 4 questions to ask.  I started dialing for dollars like I did when I was a collector when I started in the financial industry.  I set a goal to reach 5-10 lenders and ask them my 4 questions.  I was able to get a hold of 7 lenders, and I was able to ask 5 out of 7 my 4 questions.  What I found out there was another department that handled the sales process of non-performing mortgages “notes”.  These individuals had titles like, “Asset Manager”, “Secondary Marketing Manager”, “VP of Special Assets”, “Special Assets Manager”.

I was really excited that I found these individuals and just wanted to start calling them, but I took a step back and decided to put a game plan together.  By now you are probably asking yourself- What does this have to do with passive note investing? These relationships are what makes passive note investing possible.  Being able to purchase notes directly from lenders at a 30%-50% discount has a huge impact on our investors’ returns.  As we cultivate more relationships it allows us to grow our base of monthly volume, which in turn allows us to offer you “our investors” bespoke passive investment opportunities based upon your specific financial requirements.   In my next installment, I will share with you my marketing plan, successes, and failures.  Have a great week ahead!  Let’s work together to bring Wall Street to Main Street!