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!
What the Heck is Mortgage ?Note? Investing? The Start of a Journey
Have you ever heard of people talking about note investing? Probably not! It is not a topic that you are discussing over coffee or at a social event.? Would you be surprised to know that note investing has been around since the 1950?s.? When I first heard about note investing 4 years ago I had no clue what it was and I was skeptical just like you are.? Since note investing is not part of the mainstream investing conversation, people do not believe or understand how they can invest in notes passively.? What is a note? Instead of giving you some crazy definition from Investopedia I wanted to share my definition with you: Notes are financial instruments that are used to secure loans against real property.? These instruments can be used on just about any type of real estate.? Additionally, notes play a critical role in the housing market in the form of land contracts, owner financing, trust deeds.? These forms of mortgages ?notes?, are utilized for homeowners that do not qualify for financing from traditional brick and mortar banks.
Now we got the boring stuff out of the way let?s start talking turkey!? We all remember the last recession and how bad the housing market was hit.? Housing prices in some markets dropped 30% in value, and foreclosure rates were in the double-digits.? The American Economy was a disaster and there was no relief in sight.? Just like you, I do not want to go through another time like that again without being prepared. ?This is where note investing comes into play for all of us. In 2016, banks/lenders sold $116B worth of non-performing notes (1st trust of deeds on Single Family Residences).? This number does not include purchases by hedge funds like Black Stone, Fortress, and GCM Grosvenor to name a few. These hedge funds are buying directly from Freddie and Fannie, and are paying between 20%-40% of the Current Market Value of each property.? When I first learned about all this I could not believe it!? I did my homework on the offerings, and I wanted to find out how I could buy directly from banks/lenders.? This is where I will leave you on this posting and on my next posting we will talk more about the journey and how banks/lenders operate in this space. Let?s work together to bring Wall Street to Main Street!