A Huge MileStone

I have to say I am a proud Papa Today! We have met a huge milestone! We are excited to announce the TruExchange Platform is ready for beta testers. Thank you for following and supporting our journey. We are looking for 10 active beta testers to participate in the launch of the Platform.  We have already accepted seven beta testers, and we are looking for the remaining to commence testing immediately!

Please use this link to enter the beta testing program: http://bit.ly/TruExch

What Does the Future Hold?


The Platform Journey-Dashboard Mock-Up

[embedyt] https://www.youtube.com/watch?v=LswZGTBoERc&width=560&height=392&centervid=1[/embedyt]


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 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!