Your Fast Track to Success: Mortgage Note Investing Mentorship with Experts Jamie Bateman and Shante Duffy

Transcript

Welcome to From Adversity to Abundance, the go to podcast for real estate entrepreneurs seeking not just to thrive, but to conquer with resilience and mental sharpness. Each week, join us as we dive into the compelling world of real estate through the lens of mental fitness, where challenges transform into opportunities. Get ready to transform your mindset and expand your understanding of what it takes to succeed in real estate. Let's explore these stories of triumph and resilience together.

Speaker 1

Alright. So welcome, everyone. We're Shantania and I are very excited about this webinar. Sure. We'll have a few, stragglers, but I don't wanna hold up the people who got here on time. We're excited to have a little chat, give a little presentation about the benefits of personalized mortgage note investing mentorship. We'll get into a few slides here, and then we will have a q and a. Bear with us. This is our first time hosting on Zoom. I'm sure we can figure it out, but you never know what technical difficulties might come our way. But we do have sir Clifford Jumper here. I know he's hosted on Zoom before, and, I think we'll be good to go. Shante, before we get going, any any initial words of wisdom?

Speaker 2

No. Just, you know, you you did. I wasn't expecting that. No. No.

Speaker 1

K. We're gonna get into our a little bit of our

Speaker 2

back end

Speaker 1

and, with the slides. So, actually, before we get going, if you're able to raise your hand, as people are joining, I'm curious to hear from the people who are on right now. Raise your hand if you would say you're in the category of you're you're really you've heard of mortgage note investing, but you know almost nothing about it. You've you've seen the term. You've read about it a little bit, but you've never done any training. You've never read a book on it. You're really unfamiliar with mortgage note investing. If you're able to raise your hand, please do. Awesome. Randy, Shante, liar. Let's be honest.

Speaker 2

I just couldn't help you alone.

Speaker 1

At least we know it works. And, alright. Second group, we're just gonna do three groups here. Second group, you're you're familiar with mortgage note investing. You have more to learn, like we all do. Right? But you you've never purchased a note. You're you're familiar with the terms. You've taken some training or some courses. You're maybe in a, note investing group, but you've never purchased a mortgage note. Raise your hand.

Speaker 2

Okay.

Speaker 1

Awesome. Sir Clifford jumper lied. Alright. And, last group, if you've purchased a mortgage note or more, raise your hand. Awesome. Sounds like we're pretty well spread across the board, but I'd say, the biggest reaction was the third group, which is awesome. Alright. I'm going to share my screen, and we can get started. Okay. Can you see this? Do you see that, Shante?

Speaker 2

Yes. You just need to select from beginning. Okay. I don't know where you sent it.

Speaker 1

I'm sharing my wrong screen. My apologies. Still no?

Speaker 2

There you go. No. I got it. We could see it.

Speaker 1

Awesome. Alright. We're all already here. You know what you're here for, so we'll skip ahead. So what we offer, is mortgage note investing mentorship. So we'll get into a little bit of the the details with that. Overall, we wanna thank you for coming, and, we're excited to chat about the reasons the benefits of mortgage note investing and why it may or may not be a good fit for you. We provide consulting, coaching, mentorship services on an hourly basis. And, so far, this has mostly been me, and I'm really excited to bring Shante on board, and we also have Mark Blunden on board as well. And we all three bring different, skill sets and different levels of experience and areas of experience to the table. But we offer mentorship on an hourly basis, and we offer hands on direct access to to us, note investing experts. We don't know everything, but we've learned a lot, and we want you to benefit from the, our knowledge and avoid the mistakes that we've made along the way. And we also one of the things that ends up being most valuable, from the feedback I've gathered from, my mentees is that the connections to different vendors and other experts and other people in the space really end up being as valuable as anything else that is offered. So the hourly sessions are are great, but oftentimes, it's the in between back and forth or referrals that are really, really beneficial. Shontay, anything to add here?

Speaker 2

No. Just to kinda piggyback off of it. As you stated, it's the in between conversations outside of just the hourly calls, where we connect more, and we're able to also provide resources and things to help everybody on their note investing journey.

Speaker 1

So we'll get into a little bit more of that Yeah. The benefits of it. We're not gonna talk too much about ourselves, but the fact is, you you know, one on one mortgage note investing, why would you do it? Well, you you need to buy into us and our expertise and our personalities, and and, you know, so a little bit about me. I've been an active real estate investor since twenty ten. Started off with rental property investing. Rentals are still an important part of my own personal portfolio. My wife and I did a lot of the BRRRR strategy, and, we still hold rentals today. And one of the rentals we have is actually from a nonperforming loan, which is a pretty cool cool case study. So I've been actively investing in in real estate, mostly in the single family residential space, for about fifteen years fourteen, fifteen years now. And, prior to that, I did work for a title company and a mortgage brokerage mortgage broker and, did some other things. I was in the military, served in the military, was in Iraq for a year, and also served, worked for the Department of Defense as I was, building my side hustle, if you will. Operate, two more mortgage note funds as of right now. One is winding down and the other one is going strong. So I have a good amount of experience with nonperforming notes, bankruptcies, first, seconds, mostly first, but some seconds, some land notes, and some different, different types of notes thrown in there. Since twenty eighteen, I've been heavily, focused on mortgage note investing as far as my my active, really my day to day. Shontay and I and someone else on this call have experienced a lot of experience in servicing notes as well. And, so that's brought I mean, learned a ton through that experience for sure. Also, I'm the host of the from adversity to abundance podcast. It's a little bit of a passion project. We we dive into people's stories of overcoming adversity, and it's really the the human element that, that we're focused on. I also was a cohost of the, good deeds mortgage note, investing podcast good deeds note investing podcast for almost two years, prior to starting from adversity to abundance. So that's that's a little bit about me. And

Speaker 2

very Interesting. So my background is more so in the servicing space. I started servicing back in two thousand and thirteen and recently just kinda ended that journey a little bit. But that's where most of my expertise are in. It's in servicing operations, compliance, overseeing and managing bankruptcy, and foreclosure coordinations. Recently been dabbling a little bit more in investing in my own notes. I bought one or had one that just kinda was a wash, but it's okay. Learning lesson and having kinda playing around recently with this. And I just love to share knowledge, which is why being a part of this mentorship program is so important to me. It it's probably the my favorite part of being in the space is networking and sharing information. So I'm excited to be a part of this, and I hope that we can help all of you with any questions that you guys may have. And then we also have a third person who is not on this call today, but mister Mark Blunden is part of our team as well. And his background mostly for the past about a decade is in document and collateral custodian and review and management and things like that. He has also worked alongside with me for a little while in loan servicing, so he does have some knowledge there as well. He is an active real estate agent, based out of Orange County, California, and he also helps manage some fund. I'm just kidding. Not just some. It's Jamie's fund. So he has extreme broad knowledge in risk management, acquisition, servicing, things like that. So

Speaker 1

Yeah. And, yeah, really broad and deep in a lot of areas, and I think he was a, a professor in the UK. He he says a lecturer and, you know, that's what my my teenagers call me, but I think he was more impressive. But he knows a lot about, real estate, a lot about economics, market conditions, trends. And even prior to helping, manage our funds, Mark was involved in the full cycle of another fund as well after working with Casey Wilson where he essentially established my understanding is Mark established their processes and really kinda, for the most part, ran the operations. He was the director of operations at Casey Wilson and Associates, which is a document custodian. So he knows a ton about due diligence and collateral file reviews, which really comes in comes in handy in mentorship.

Speaker 2

So that's us.

Speaker 1

Alright. Just a little caveats here. We are not attorneys. We are not providing legal advice in any way, shape, or form. We are not financial advisers. So whether we're discussing this on, whether I'm referring to just this call or or mentorship broadly, we don't provide legal advice, and we don't provide financial advice. Ultimately, we're here to help support you, but the at at the end of the day, it's you driving, the ship as far as your own success and and, honestly, you know, risk taking as well. So, anything to add, Shante?

Speaker 2

No. K.

Speaker 1

Alright. So mortgage note investing, we we I'll be perfectly honest with you. We we probably could have done a better job on this slide in particular, and then that's not a criticism in any way, shape, or form. It's hard. What what is mortgage note investing? We essentially become the bank, and and many of you are already familiar. You purchased your own notes, so I'm not gonna spend a ton of time on this. But, mortgage note investing and and, again, we're focused mostly on first liens here. We purchased or, already originated debt. Oftentimes, that's owner occupied debt, and that really is where we do specialize, especially on the servicing side, which comes into play more with the compliance requirements. But mortgage note investing, you're purchasing an already originated mortgage note. Again, we use the term mortgage note broadly. Many states, it's a deed of trust or maybe a security deed. We've bought many land contracts or contracts for deed. But I say mortgage note investing when I'm referring to a note that is collateralized by in single family residential real estate is what we're talking about. So, we buy that debt. We become the the bank or the lender, and those payments are now owed to us. And oftentimes, we can buy at a discount. And I think, you know, there's we have a lot of resources that we'll point out later, on our website if you really wanna dive into what is mortgage note investing. But before we got into why mentorship may or may not be a good fit, we wanted to at least, discuss what mortgage loan investing is. Shante, anything to add here?

Speaker 2

You buttoned it up pretty well. We found this to be a very odd and interesting question just for those, joining this call. It it's very hard to kinda put in a nutshell, but you did a great job.

Speaker 1

Alright. You wanna handle this one?

Speaker 2

Yeah. So we just there's steps that you need to take in order to be able to invest into mortgage notes. You can't just kinda go out and just purchase. I would never suggest that, to be honest with you. It does take a little bit of time. So some of the steps include, you know, researching and understanding the note market and the investment opportunities that are out there for you and what you're looking for. Currently, in our current climate, all I've been kinda paying attention to is that our note market isn't exactly, you know, may where what may be or where we used to be back in two thousand nineteen, two thousand twenty kind of thing. But there's still notes out there for everyone to invest into if they want to. The next step is usually your due diligence. When you narrow down a specific investment and you want to potentially bid on this, you need to do your due diligence on that note itself, and that doesn't just include collateral files with the note in mortgage or date of trust. You should also be asking these sellers for copies of borrower payment histories, servicer notes, getting BPOs, pulling some title reports, things like that. So do your due diligence. Learn everything you possibly can on this note before you make your purchase. When you get through your due diligence phase, and if anyone needs help with that, feel free to contact Mark. When you get through your diligence diligence phase and you're ready to purchase your note, at that point, you are now purchasing your note from the seller. So you will end up signing documentation, purchase and sale agreement, you know, transferring funds, and you should be receiving the collateral file, to yourself directly or to a third party that you choose to have that held by. Now that you're a note owner at this point, though, you have to manage this note. So you can buy performing notes. You can buy nonperforming notes. Performing notes are loans that are paying. Nonperforming loans are not. You definitely need a servicer, and I'm going to stress this till my last breath on this earth. Servicers are important. I do understand how they are stressful and can be a headache at times, but there is a reason and a method to their madness and a lot of compliance that they actually follow to keep you as a note buyer and note investor secured. So make sure that you choose your servicers properly. Make sure they're licensed in the state that the property is located in, and go that route. Your servicers will also help you decide on an exit strategy. Now I know a lot of investors do this during the due diligence period, but your servicers are the ones who usually execute them for you if you so choose, or you can have an attorney. And that's if, you know, your loan pays off, how to handle that, if your loan is not performing and you need to take to foreclosure, if you're dealing with bankruptcy, if the borrower wants to work out an agreement and that where it's a win win for you and your borrower, that's where those exit strategies come into play. So don't forget those, and don't forget to lean on your servicers and attorneys and your network to assist you with some ideas.

Speaker 1

Perfect. I'll just quickly add. So research I mean, that could include researching other asset classes, and I've had good mentorship calls with with, people where they're they're not sure if note investing is for them, and that might be where you are. So you might be researching what are the pros and cons, you know, of mortgage note investing versus I I had somebody who was all over the map one time. He's like, you know, we jumped one week from mortgage notes, and then the next week, it was single it was a short term rentals. And, you know, I think I think that's important. We can get into that. You know, as far as, you know, mentorship can really help you in that in that, understanding kind of how you can take your own experience and and where you've been and move you toward where you wanna go and helping you define that. So research could could also include even the bigger picture of where does more where do mortgage notes where does that asset class fit into the bigger picture? Because not not all asset no asset class is perfect. There are cons to mortgage note investing. Generally speaking, there are no tax advantages, for example. So, that research could be a broad broader thing at first initially. And then certainly, when you research and do your due diligence on the asset as well as the seller, and as well as the vendors that you're working with. And, and then and then work you know, as Shontay mentioned, the other steps working through a purchase of a note. And and we really are excited to bring you, like I said earlier, the different expertise from Shante, Mark, and me.

Speaker 2

You

Speaker 1

know, we really do bring different things to the table here, and we have somebody actually, who's who I'm mentoring right now, and, he's about to purchase his first note. And it's pretty exciting. So we've had a few calls. We've looked at different tapes. We've gone through you know, we've crossed a lot of we've analyzed a lot of deals, and and we haven't pulled the trigger yet. And but he's he's under agreement to purchase a note. And what's really exciting is Mark is gonna meet with him tomorrow to go through the collateral file. You know, I I'm very confident in my own skills in doing that, but, Mark Mark, this is what he did for nine years. Nine or ten years is is became an expert in collateral files and collateral file review. So, I mean, that that's pretty pretty, that's pretty beneficial for sure. And then and then Shontay comes in and and and and brings in the servicing experience, which is just, yeah. I mean, Shontay didn't really mention it so much, but she really kinda ran, Madison Management's, operations in many ways. She really helped them get off the ground and was the face of Madison Management and then later with Wi Fi. And so many I mean, over a decade in servicing, which is just, hard to find elsewhere. Alright. So these are some of the benefits of mortgage note investing. We're not gonna go into into, super deep on this. Like I said, there are pros and cons to mortgage note investing. Everything has risk, but generally speaking, investing in debt or buying mortgage notes tends to be on the lower end of that risk spectrum, a little bit lower risk than some of the other, you know, commercial, syndications, for example, office or something like that in real estate or or Bitcoin. And, again, everything has risk, and we're not we're not financial advisers. But, you know, the risk the lower risk compared to other asset classes is a benefit of of mortgage note investing as I see it. So there's certainly potential as we see here for for for steady passive income with performing notes. I often liken a performing note to a, buy and hold rental property. There are differences, but, generally, you're looking for cash flow. Whereas a nonperforming note, you're it's more like a fix and flip of a property where there's a clear entrance point and a clear exit point to the deal, and you're looking to add value to that asset. You really can't add a lot of value to a performing note. You can in some cases, but generally speaking, it there's less opportunity to add value. So, potential for steady passive income, regular payments, and, decent decently high returns, diversification across geography for sure and across borrower types and across asset, real estate types, if you will. And so there's you can do this from anywhere. This is absolutely, location independent. I know on on our website, labrador lending dot com, we have, I think, it's ten ten reasons to, invest in mortgage notes. So if you wanna go into more detail there, it it's there.

Speaker 2

We'll get there.

Speaker 1

Yeah. Flexibility in, investment strategy. So, like Shante mentioned, there are multiple exit strategies, with with a particular deal often. And, there's within the the little niche of mortgage note investing, there are many little niches. You know, tons and tons of of different niches within this space, which is which is awesome. And and some people just are just do really well, and and, and they say the the riches are in the niches. So and then convenient and secure. And and, really, to me, the secure part comes down comes back to risk where you're investing in something that is collateralized by, real estate. And it's and, you know, there's a shortage of housing in this country, and oftentimes, we're buying in the Southeast or Midwest. And when I say buying, I'm saying the debt. But those, properties are not fluctuating in value, you know, too much. So it's it's, in that sense, kind of kind of boring and secure, and that's not a bad thing. Chantee, anything to add to this, benefits slide?

Speaker 2

No. I think you hit every, you know, every topic and every point. This is why I enjoy mortgage note investing opposed to investing in anything else. So

Speaker 1

Absolutely. Yeah. I mean support it. The location independent, we don't really have it here per se, but it's that is one that people really like. You can you don't need to be where your your mortgage notes are, which is nice. So benefits of mentorship not found through group memberships or courses. And, before I let Shante explain this in a little more detail, I you know, we just wanna point out that I think you should take courses. I think you should be a part of, note investing groups for sure. You know, you you don't wanna do this alone, and you you wanna be a part of a group. Whether that's paid or not, you wanna be a part of a group, and you also should take some formal training. You you know, there's a pretty low barrier to entry in this space. That doesn't mean that everyone should just jump in blindly by themselves. Mentorship is a little bit different, though. It kinda bridges the gap, between the two. And, Chantae, why don't you go into some more detail there?

Speaker 2

So as you just say, I'm gonna piggyback off of this because I want to stress this more than anything. I am in, you know, groups. I have taken courses. So it's not again, they I I feel like everyone should kinda be in a little bit of everything. But the benefits of our mentorship program is that it is personalized. It's personalized approach. It's tailored to whatever you specifically need in that moment. So earlier, we asked questions about who's invested, who hasn't, you know, or we where is where is everybody at? We get to meet all of your needs with all of you guys being separated in in different parts of this journey. It is hands on. You get one on one when it's convenient for you. We understand that no investors. Usually, it's not your full time job. So that is understandable. We have the flexibility of nights, weekends, days, you know, whatever things may be. And the cost is also lower than larger memberships. Not all memberships, but larger memberships, larger courses, things like that. Sometimes that cost can be a little bit larger, upfront compared to what we offer. And, again, as I said, this is, this appeals to all investors. Doesn't matter how green or how experienced you actually are. We there's I'm still asking questions, and I've been in this space for eleven years. You're always gaining knowledge and to know that you have someone that you can give specific questions to and get specific answers to and not be fighting over raising your hands in groups. It's it's a little bit more personal, and you can get a little bit more one on one hand holding, which I have benefited from personally. So it's great to also be able to share that with you guys.

Speaker 1

Yeah. If you wanna really just add some kind of fuel to your the progress you're already making, mentorship can be a great choice. Like Shanti said, sometimes you have a question and it might not get answered, and then you gotta wait two weeks or a month until your group meets again. We can just go right to it. Let's let's go to whatever is your number one question right away. Let's get to it. So our goal is to help you, you know, succeed. And I do wanna mention too that this mentorship this particular presentation is mostly geared for geared toward, newer investors, but we absolutely can help you if you wanna scale as well. We can talk a little bit more later, but it's, you know, I've run two note funds. I mean, I haven't done everything there is to do in the space, but, you know, I've I've made plenty of mistakes that I can help you avoid if you wanna scale. So I don't want you to think that the mentorship is is program is simply about how do I buy my first note. Scaling involves access to other people's capital, access to deals, and then managing those deals. That's really what this breaks down to as far as this business goes. Whether you wanna run a fund or not, it's those three elements. It's access to capital, access to mortgage notes, and then managing the capital and the mortgage notes. There's three buckets really that come into play when you're scaling a mortgage note business. So I welcome the opportunity to help someone who is there. Maybe you own a few notes, five or ten notes, and you wanna really scale scale your business. But, yeah, these are it's really about individual the individual approach and and really speeding your progress and making it much more, quick than it would have been otherwise. Alright. So why mentorship may not be a good fit for you? You know, if you're really not interested in in in putting in some time to learn the business, at Labrador Lending, we serve really two avatars. We have our passive investors who are accredited, so they have high income or high equity. You know, and so they wanna put their money to work, but they don't really have the time or energy or interest in becoming an active mortgage note investor. Mentorship is probably not for them. So they probably wouldn't have the commitment required to really succeed in becoming a mortgage note investor. And they may be a doctor or somebody you know, an attorney or something and really have time constraints, and just not have the time available to learn mortgage note investing. And then communication, you know, if you're going to have a session with us and and just sort of drop off the face of the earth, that's not gonna work. So these are a few reasons why mentorship may not be a good fit for you. Shante, thoughts?

Speaker 2

Communication is key. That's one that sticks out the most. The time constraints, there's a little bit of flexibility there. But if you're not communication is the key across everything in this industry, so I would stress that more than anything.

Speaker 1

Yep. So it's really the person who has energy and time, and you do need some capital to get, you know, started in notes, but there are ways to do it without a lot of capital. So it's not so much the money that's really the biggest hurdle. It's the these these three here. If you if you have time, energy, and desire to learn and you really want, you know, to learn mortgage note investing, it may be a really good fit for you. So we've got two slides here on the benefits of one on one mentorship, personalized guidance, expert insights, immediate feedback. You know, these these are real time, you know, the things that are going on, training that's happening with real notes. So, certainly, we can take we can do training and mentorship with sort of fake deals or, you know, maybe go on Paperstack or somewhere and check out a deal that maybe we're not actually intending to buy, or or we can share a a prior deal of ours that we've done or something, go through a case study. But a lot of times, it's it's real tapes and it's real notes that we're going through, and we're making real time decisions on, you know, the investor. The mentee is making real time decisions with our guidance on whether they wanna move forward or not. So and that's, you know, that's critical, and and we're very responsive, in that sense. And then networking opportunities, building connections in the industry, and I I alluded to this earlier. It's just a huge benefit. This is a relationship business. It's, it it it just is. And, you know, marketing is important and building your systems are is important, but, really, it's about relationships and, you know, and your reputation and and networking with others. So, we can help you meet people that we've established relationships with, and and, man, that goes that goes a really long way. Accountability is huge. You know? I'm not gonna sit here and say that every morning I wake up and and first thing I do is figure out and and ask myself what what, you know, what's my mentee doing today. So there's still an element where you're you're driving the ship, and if you want this, you've got you've gotta put in the work. But, absolutely, I will reach out to mentees and check-in frequently, or if they have questions, I'm I'm there. And just having that person to be able to look over your shoulder and and just, really hold you accountable. I will often give homework, you know, just assignments, and it's like it by next session, I want to see this done. And the truth is people often wouldn't do that without that without that accountability piece. We're all like that. So, Shontay, do you wanna handle this slide?

Speaker 2

Confidence building. You definitely have to be confident to be in this space, for somebody who's been in this space for eleven years. It having a mentorship program where you have different mentors from different walks of life, trying to help you guys, you know, get to your investing goals and dreams, having the confidence to get there is extremely important, which I would also tack on to, you know, expanding your network because that helps. Of course, we have been gone we've dealt with so many different scenarios in our experiences that we have a lot of resources between managing and running a servicing company to running a fund to managing, you know, collateral files. There's and then everything in between. All the attorneys we use, vendors we use, tools, you know, things like that we have and that we've experienced and we've used. So being able to share that with everybody who signs up is also amazing. The risk management techniques, you definitely get to learn your risk versus reward while going through this mentorship program while in different stages. It's always gonna be different scenarios for everybody's situation. But you will learn and you will learn to be comfortable with it. So as you scale, you might not need us as much. But for me, it warms my heart because that means you guys are learning and growing. This isn't at your pace, so we're not gonna speed you through. If you're selling you're not understanding, if something just doesn't make sense, Shante, you're from Jersey. You talk way too fast. I missed everything you just said. Slow us down. We go at your pace. So whatever is convenient and works for you with as well as your scheduling and time management, we go by based off of you. As long as you have the interest, we will make this happen. And, of course, this allows you to grow your business and your investing business to wherever you want it to be. You get foundational information and knowledge to be able to continue growing.

Speaker 1

Absolutely. And and on the the last two, customized learning pace, I have mentees who still I've been working with for years now, and they'll check-in. We'll do a session every couple months or when they reach a new something new in their investing journey, which happens often in mortgage notes. And, you know, I've never they they'll say, I've never dealt with this before. What would you do? And we'll hop on a call and and talk through it and go through it. And, so we we do have more sessions generally in the beginning, of course, and then it's we're here for you afterwards. So, that customized learning pace is critical. And then I I alluded to scaling your business. Earlier, I I spoke about that. That's one thing that actually surprised me in doing this mentorship program with people. I I kinda you forget certain elements that maybe you take for granted, as far as, you know, how do I how do I open an LLC? How do do I need that EIN before I get a bank account? You know, things like that. And I have too many LLCs. And so, I've got a lot, and I it's not anything to brag about. It's just I I kinda forget. Oh, yeah. That's right. That That that might be important. So it's not just, you know, about a deal or a particular note or or the, you know, foreclosure laws in Georgia or something. It's like business business growth and business. And and, honestly, one of my mentees seemed like most of our calls were about life questions, and that's fine too. Not a life coach or anything, but we're happy to share life experiences. And, certainly, this is about mortgage note investing, but, again, it's tailored to meet your needs. And we're, you know, we're we're here to support you. So there are things that, you know, that don't directly apply to mortgage notes in particular where we can add value. Not gonna read these Kinda long. Tom Scott, let's, let you all read this. I didn't pay him to write this.

Speaker 2

Short inversion. At the end of the day, it's Tom Scott thanking Jamie for working and help working alongside with him and how he feels like he couldn't have done he couldn't have done anything at this point without him. And let's you know, just kinda give Jamie his kudos to helping and things like that.

Speaker 1

Yeah. And I will say this is someone who was quite knowledgeable in lending and and and debt in general, and very good with Excel and things. So he brought a lot to the table that I didn't necessarily bring to the table. And so and I was able to kind of fill in the gaps for him. And, again, he talks about how books just don't quite cut it. Books are great and courses are great, but they don't necessarily get you there by themselves. Couple more testimonials here. Jeff Vincent, Peter Halliday, These are people who are clearly, taking action and, implementing what we're teaching them and and what we're helping them helping guide them through, and so which is which is just awesome to see. So, again, tailored to Jeff's specific needs and, refining processes. One of the things, you know, that it just comes to mind right now is that, oftentimes, what we end up doing, we don't have this spelled out in the slides per se, but it's we end up if you don't have a buy box, we kinda in the first few sessions, we end up working on building that buy box. Meaning, what are you looking for? What what not only are what are you trying to accomplish with mortgage notes, but then more specifically, what type of assets are you looking to buy? So that's one of the things that we often that I've that I frankly worked with Jeff on. Jeff Vincent, is is building that buy box, you know, in with some specificity. First, are you looking for seconds? Is it NPLs? Is it reperformers? What kind of yield are you looking for? What states are you willing to buy in? This is a very state specific industry and, investing, approach. And so building that buy box is critical because you you're not gonna have deals come to you if you don't know what you're looking for. So you've gotta understand what you're looking for. And then building your due diligence processes, both pre bid and post bid due diligence, those are critical pieces as well. And then I can hand Jeff off to Shontay, and she can, you know, I'm joking, but she fill in the servicing piece after that. But, but, yeah, those are those are two things is building that buy box and building out your your due due diligence processes or process, are critical. Peter's Peter Halliday's testimonial there, you can read that. Yeah. And, again, yeah, vendors and and, it's a very niche space. So, I think I've been able to connect Peter with some really important vendors in the space.

Speaker 2

You have.

Speaker 1

Alright. So additional resources. Check out our website, labrador lending dot com. We've got a lot of resources. We mentioned the ebook here. It's truthfully, it's too too big for an ebook. It's seventy four pages. It it just, probably should have been five ebooks. It's free on our website. And then we've got a YouTube channel and and, you know, a lot of resources on our website, Labrador Lending dot com. Shontay, anything else to add there?

Speaker 2

Nope. Check it out. There is a lot of resources there. I know I've checked them out as well. But I think now we're gonna move over to some q and a. So if anybody has any questions, comments, concerns, I think we're able to use the q and a, option on the bottom of your screen. So if there's any questions or if you guys wanna raise your hands or however you'd like to go about that, we're here to answer any questions basic over, regarding the mentorship program. Of course, if you have something more specific, feel free to shoot us an email. So if there's any questions, we'll give you guys a few moments.

Speaker 1

And so, I'm sorry. Did but It's okay. Real quickly. So to get started in mentorship, you we can have an initial conversation to see if it is a good fit. Go to our website. There's a big mentorship button on the homepage, laborer lending dot com. Click mentorship. Sign up there. I'm gonna stop screen share and then be able to monitor help monitor better.

Speaker 2

And just to give you guys a little bit more information, we are going to be having monthly webinars. They are gonna be more topic specific. We just wanted to do broad, let you guys know who we are, what we're doing. And then we're going to we have a couple more sessions that we're prepping up for. It's always gonna be the last Wednesday of every month, from six to seven, seven thirty ish. If there's a topic that you guys wanna hear about as well, please send us some of your opinions, and things like that. So Luis has a question or Luis, I am so sorry. What is the hourly fee? Is there a longer term subscription slash retainer option?

Speaker 1

It is currently one hundred and fifty dollars per hour, and, it, I do ask for a three session minimum because I feel like we can't make a lot of progress in one session. Not enough anyway or two. And I really wanna understand where you're coming from first, and that's one thing I wanna emphasize is we really do listen. It's not us vomiting information at you because it's really not relevant if I'm telling you things you already know or you're not interested in. And so, it does take a little bit of time to get that going, you know, and under build the rapport and understand where you're coming from and where you're trying to go. So, it's a hundred and fifty dollars per hour and three session minimum. After that, it's very open ended. It's, there there's no massive upfront cost or anything like that. So, hopefully, that answers the question. There's no subscription or retainer option to be more direct. You're welcome. Period. That question would come up.

Speaker 2

It was a good question because it's

Speaker 1

Yeah.

Speaker 2

It's been asked a few, of me. Three people asked me actually today. So

Speaker 1

Pretty important.

Speaker 2

Very important.

Speaker 1

I would care too.

Speaker 2

Absolutely.

Speaker 1

What else? This is your chance to get some free, mentorship.

Speaker 2

That's true as well. If you guys haven't already checked it out, I know this is separate from the mentorship. But if you get some time for those long drives home from somewhere, coming home from vacation, you wanna tune out the wife and the kids or something, go check out From a Pursuit to Abundance podcast. I know I listen to it on Spotify. I think you can listen to it almost really anywhere if I'm not mistaken. Yep. You'll hear my story, all about me a couple of times in a few of those episodes. So

Speaker 1

For sure.

Speaker 2

You'll also hear of other people in the note space. Yeah. And their stories and

Speaker 1

Another thing recently, I was able to do a case study on, with Justin Bogard's, be the bank broadcast that he does monthly. It's a live stream we do monthly with Chris Seveny and, Jay Redding, and Justin. And, I was able to work walk through a a Michigan contract for deed case study that was pretty cool. It was a lot of work getting through that. But, we were able to make some money, and we were able to make some money for our investor, our capital investor, as well as get some get kids out of a really terrible living condition. And so the social impact and human impact is one of the things that people are drawn to about mortgage notes, and having that discretion as a as a lender, if you will, as a as a note holder. And, so that was a pretty cool case study. Be the bank, if you Google Be the Bank broadcast, that was last month's a couple weeks ago, we were able to do that case study. So, we've got other case studies as well on our in our ebook, and I don't know. If I find case studies really helpful, so, we'll probably go through some probably do touch on one next month actually in this webinar. But I know a lot of a lot of times people really learn from case studies because they're that's when they finally kinda get it. They're like, oh, okay. You know? And so, we've got lots of those. But about mentorship specifically, what, what questions do you have?

Speaker 2

Do you share any templates such as a purchase and sale agreements, joint venture agreements as part of the mentorship program?

Speaker 1

It's a it's a good question. On an as needed basis, yes. I always recommend you have your own attorney review things, and don't just take something you found on the Internet and use it. But, yes, we will share certain templates, to help you move along because there are you know, we don't need to reinvent the wheel. Purchase and sale agreements, loan sale agreements, joint venture agreements. Again, we we would probably go through that together in in most cases to make sure that it fits and that and I would highly recommend you have an attorney review it at least once. But, yes, we certainly do share templates. We'll share we'll share our own due diligence checklist as well. There's nothing none of this is rocket science, really. It's like there's a lot of detail and there's a lot of, organization that's necessary to stay, to stay on top of things. So I'm not saying it's easy per se, but when you break it down, nothing here is rocket science. So there's I don't mind if you see what we do for due diligence. You know? That's that's fine. So, yeah, we'll we'll share things like that. Yes.

Speaker 2

If you see a tape that has assets in my buy a box, would you share that with me to potentially bid on it?

Speaker 1

If I have permission to share it. Yes, sir. That just happened, sir Clifford Jumper. I that just just happened, this week with a mentee where we looked at the tape. It was a very small tape, and it did nothing in there fit our buy box. And, and with permission of the seller, I shared it with my mentee, and and looks like they're moving forward with a a purchase of one one of those notes. So yes. And that is look. That's probably the number one question is where to find notes. Right? And, it's ever changing, and it's and I said it's a relationship space for sure. And, so it's it's it takes work to get those, sources of notes and deal flow. But that is something you know, we we don't present this like we have the only you know, this is you have to join our program to get access to notes, and you must find notes through us or something like that. But, absolutely, Sir Clifford Jumper, when it makes sense, we will share share, tapes with our mentees.

Speaker 2

That's a good question.

Speaker 1

Yeah. But don't jump off a cliff, sir.

Speaker 2

Please don't.

Speaker 1

Good question. Alright. We got a few more minutes. You could ask us something, you know, what's

Speaker 2

Doesn't have to be a color.

Speaker 1

Purple because you like the Ravens?

Speaker 2

I don't know. I don't know.

Speaker 1

You like the Eagles?

Speaker 2

I do. It's about to be that season.

Speaker 1

Yep. We're watching the the receiver. It's pretty fun. Pretty good show on Netflix.

Speaker 2

Anybody have it is good.

Speaker 1

Yeah.

Speaker 2

I know putting people on the spot sometimes for questions is a little bit challenging, but, again, feel free to email, ask anything, if there's something specific that you're not thinking of in the moment and you think of tomorrow, or a couple days, let us know.

Speaker 1

Good question.

Speaker 2

What are the typical hours for mentoring? If I work a nine to five, can it be in an evening? That is the best part about this mentor ship program is that we work around your schedule. There are three of us that are a part of this. So Yeah. And one of us is on a different time zone from the East Coast. So there is variety of time. I'm available nights, weekends. We just schedule it, and we make it happen.

Speaker 1

Yeah. So Truth be told, both Shontay and I had more on our plates, a couple of months ago than we do now. And so we do have a bit of of a sort of flexibility in our schedule. Also, truth be told, I I didn't necessarily love doing mentorship calls at seven o'clock at night if I'd worked all day long, just being honest. So I think it's fantastic. That's one of the reasons that I, was thrilled to bring both Shante and Mark on is that we can, set up, you know, tag team and and work that way. But, yes, we will absolutely take calls in the evenings or even weekends if if need be, for sure.

Speaker 2

We'll work around you guys.

Speaker 1

You guys wanna know what what that is? That's that's our book, From Adversity to Abundance. Go buy a copy.

Speaker 2

You can buy a copy of Amazon. I have one unsigned, unfortunately. But

Speaker 1

Alright. Well, we'll we'll give thirty more seconds.

Speaker 2

Your whole evening. Right. Just a reminder. Yep. Three while we give you guys a sign, just a reminder, if you have any questions, can you know, feel free to reach out. Sign up. Check out that ebook. I actually just picked it out, about a month or two ago now. It's got a lot of information. You know, save it for a rainy day when you're kinda bored and just wanna read through. That's always helpful.

Speaker 1

Can't sleep.

Speaker 2

What form of payments do you accept? Credit cards, debit cards?

Speaker 1

Typically, PayPal, Venmo, Zelle, check. I think those are for now.

Speaker 2

So no credit card, mister Jumper, sir Jumper. And mister Espinosa, best way to contact you?

Speaker 1

Yeah. So go to our website, labrador lending dot com. Click on mentorship and fill out it's a very short form. Fill out that form, and, we'll be sure to follow-up. My email address is bateman james at labrador lending dot com. It's a little bit of a mouthful. Bateman james at labrador lending dot com, l a b r a d o r. And Shontay just got her she just arrived. She just got her Labrador email address, so that's Shontay at Labrador Lending dot com. But our website is a great, place to start as well.

Speaker 2

Are you all actively in the Wi Fi servicing business as well? I knew this question was coming. I'll speak for myself, and I'll let you speak for yourself, Jamie. I no longer, am part of the Wi Fi team. My last day was exactly two months ago today. So I decided to step away and try to expand my personal self, my personal career goals, outside of servicing, but still within this space. So I am no longer with Wi Fi. And Jamie?

Speaker 1

Yeah. I I also, I'd stepped in as CEO in October of last year, and, that was never part of the long term plan per se. And, so with Chante, I'm also not actively involved with Wi Fi any longer. Lot of lessons

Speaker 2

break any hearts. Yeah.

Speaker 1

Lot of lessons learned that we can apply to mentorship.

Speaker 2

Yes. Yeah. And Absolutely.

Speaker 1

And if, John, if you have a specific, you know, personal interest in this, happy to chat offline.

Speaker 2

Ways to communicate with you once someone signs up. So, I believe that, Jamie, How do you prefer?

Speaker 1

I mean, for me email sheet. I mean, works well because you're usually presenting an attachment or some, you know, something that we're sharing. And we we do we can refine this as we go along and use we we certainly use shared folders and things like that as well. But as far as the sessions themselves, typically, it's just over Zoom and then often email in between sessions works well. Alright. I'm gonna stop the recording. Thank Thank you for joining us, everyone. This has been great.

Speaker 2

Thank you.

Speaker 0

Thank you for joining us on from adversity to abundance. We hope today's episode has equipped you with valuable insights and practical advice to elevate your real estate journey. For more inspiring stories and resources, visit us at w w w dot adversity to abundance dot com. If this episode has inspired you, please share it with a friend who could also benefit from our conversation. Together, let's turn adversity into abundance. Until next time, keep building your mental fitness and your real estate empire.

Your Fast Track to Success: Mortgage Note Investing Mentorship with Experts Jamie Bateman and Shante Duffy

Benefits of Mentorship

Jamie Bateman

Shante Duffy

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