KSS 30 | Pricing Trends

There are so many things to consider when doing real estate that when you overlook them, you may easily fall off on the losing end. This episode will open your eyes to the trends that will affect and influence your investment targets and profits. Kevin tackles head on foreclosures, delinquencies, pricing trends, and fraud. He lays down the statistics provided by Black Knight, Inc. and CoreLogic on the top states with delinquencies as well as the house price index, highlighting the importance of taking a closer look at them and doing your own due diligence.

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Foreclosures, Delinquencies, Pricing Trends And Fraud!

I got back from San Diego and I love San Diego. I had a great meeting. We had a nice group. It’s one of the most experienced groups that I’ve had in a long time. We also had some people who were brand new. It was an interesting dynamic to teach in a room, but it worked out brilliantly and everybody was sharing information. It was part mastermind and mostly training. It went very well. I have a couple of things to take out from that and then we’ll get into the industry update for you there. One of the things as I was going through, I’ve always liked manufactured and mobile homes as an investment in the note business, specifically. It works in traditional real estate as well. It works a lot better when you combine real estate with notes for manufactured homes and mobile homes. There’s a big void in the ability for people to get financed on that type of housing. Your traditional banks simply don’t do it.

Having said that, there are larger companies. In fact, Berkshire Hathaway owns 21st Mortgage that does financing on those types of properties. It’s not as readily available and the people can’t qualify as easily for those type of loans. Seller financing when it comes to manufactured and mobile homes works out really well. I know a lot of people have a stigma for whatever reason about manufactured homes and mobile homes, but I will tell you something. In certain states, these manufactured homes and mobile homes are built with good quality, especially the manufactured homes.

I’ve seen better manufactured homes than I have regular sticks and bricks types of homes. They can be very good quality. They’re easy to repair, inexpensive to repair and inexpensive to buy. They’re normally going to be attached to the land. Manufacturer mobile homes or at least mobile homes, when they’re sold, they are done through the Department of Transportation. It’s like a vehicle. Once they get it on land, take the wheels off, take the tank off, then they can have that move from chattel so to speak, move a personal property over to real property by having it permanently affixed to the properties. Most of this type of collateral comes with the land. It doesn’t have to. Although if you’re buying paper or buying a mobile home and you’re going to be financing it, ideally it’s better with the land.

However, if you’re buying that within a mobile home park, you’re going to be totally fine with that. Just remember, those wheels and tank can go back on, hence, the term mobile. You do have to be a little careful of that. If you’re in a park and you’re doing a mobile home only, you can make a lot of money doing that. In fact, some of the attendees are starting to specialize in that space and creating high-quality notes. To some people who are not familiar with places like Florida, Arizona, parts of California, parts of Texas and other parts of the US, you can have manufactured mobile homes in gated communities with golf courses and community centers and everything else. There’s a whole different world out there for some of you.

I would encourage you to take a look at that. There’s a reason that Berkshire Hathaway, Warren Buffett’s company, jumped into real estate, number one, but also mobile home and manufactured home. Number two, he’s the largest creator and purchaser of manufactured home and mobile home paper. He purchased Clayton Homes, which was the largest manufacturer of mobile homes and manufactured homes. It’s a big business. There’s a lot of inventory out there. It’s something that you should take a look at.

There's a big void right now in the ability of people to get financed on non-traditional housing. Click To Tweet

Another thing I noticed at this event I taught was the importance of due diligence. There’s a tendency, sometimes when you understand the business at a high level, you start to cut corners. You start simply to forget things and not pursue things as deeply as one should. It doesn’t hurt to go back and review the fundamentals of the business and understand the documents and the documentation that’s involved with all of these. It’s how it’s written up and how it coordinates with other documents in there, what liens have, what priorities, what power do they have and where is it located. All these things become very important to you in the industry. It’s something that everybody, regardless of experience, certainly when you’re new you want to know this, but when you’re experienced, you want to come back and learn some of these things. It was nice to hear people saying, “I’d forgotten some of this and you’re right because we got into a deal and we should have checked that ahead of time. We simply forgot how to do that. We’ve gotten away from that.”

I always suggest having a pattern. I likened it to when I used to do a lot of rehab properties. I simply took a very patterned type approach. I would approach the property. I will walk around counterclockwise, looking up and down on the outside. I would go into the interior of the house. I would walk again counterclockwise. I made sure I saw everything. It was a simple pattern, a simple example and I had a checklist with me. As I went through, I made sure that I checked off this list as I was walking throughout the property. It’s the same thing in the note industry. When you develop patterns like that, it’s almost like muscle memory. You don’t have to think about it. You automatically start going around the way you normally do. You start automatically looking at your list and checking it off.

You need to do the same thing in the note business. Pay attention to those checklists that I provide. As you go through things, make sure you take a minute and check those boxes, especially with the installment contract for deeds. There’s a lot of scrutiny in the real estate realm for these land contracts. The reason is there was a lot of abuse. There were some big REO companies that moved into the space. They bought a lot of volume of property. They fixed the properties up to a degree and then they sold the property with seller financing being a big benefit, but they’re leaving the borrowers in the contract to fix up the rest of the property. That’s not a good thing because they’re getting these people into the homes with $500 to $700 or less than $1,000 down.

They’re moving into a home that needs a good amount of work. Not a light amount of work, a good amount of work in many cases and under the guise of, “You will fix that on your own and then start making the monthly payments to the investor.” The problem becomes that the people living in the home never get around to doing the work. Even though technically they’re contractually obligated to do it. The problem is they don’t have the money. These property sellers who are carrying back the land contract, they’re not going out there and check in every month. They should but they don’t. The work doesn’t get done. The property continues to deteriorate and that’s not a good thing. What’s happened is many of those were done by REO companies because quite frankly, one followed what the other one was doing.

That’s what their workout companies said to do or servicing company. They did what everybody else did. That became a growing problem to the point where the judges are seeing enough of these cases and they’re saying, “This is not fair. You’re putting people into a home that is borderline livable. It might still have a leaky roof. It might have extensive work that needs to be done on the outside.” It’s not a fair proposal. They’re making lenders go through a foreclosure process. They do not have a tendency to work favorably with the lender. It’s reversed and it’s working much more favorably to the borrower. You got to be very careful with those when you’re buying those. Make sure you look up the lender, who that was, see if there are any court cases that they’re under.

KSS 30 | Pricing Trends

Pricing Trends: Develop yourself a pattern so that every time there’s a procedure, it’ll become muscle memory.


Do a little extra effort on your due diligence with those. It’s not hard to do with all the technology we have available to us. Go in the paperwork and see who the original lender was. If you’ve seen an assignment with a different company name or something like that through a quit claim deed, look up that too. They’re trying to get their name out of there because there are some companies that were pretty popular that are involved in some very large lawsuits at this time. Check them out and if you buy one of those, if you can, think in terms of converting those back to a note in a mortgage or a note in a deed of trust. That requires a borrower’s permission. I don’t think you will be fought on that. It’s in their favor to do that.

This is an area where you’re going to need an attorney that is very familiar with this. You may want to consider doing that down the road. If you’re doing a loan modification, you can make it a part of the loan modification and then let’s make sure we’re compliant. Let’s make sure everything is above board and that will serve you better in the long run. However, if the loan is paying on the land contract and people are taking care of the house and the property is in good shape, leave it be. There’s nothing wrong with the land contract if you’re doing everything right. The problem is you will always have some bad apples and they ruin it for everybody else. That’s a tender spot in the industry. Don’t set up your own land contracts that way. Make sure that you set them up legitimately and have a fully rehabbed property.

If you’re looking at those things, can I convert this and when? If it’s paying and the house is in good condition, let it be and you should be fine with that. On the properties that are in-between, it would be in your best interest to maybe send somebody out there to take a look at the property every month or every other month. Keep a little documentation of what that is, in case you decide to resell the note or something like that in the future. Do not cut corners on due diligence. Develop a pattern so you understand every time there’s a procedure. It will become muscle memory so you don’t even have to think about it. It will become automatic.

The land contracts, have that little yellow flag waving in the back of your mind and saying, “I’m going to do a little extra work on this before I close on this particular deal to make sure I’m okay.” On land contracts, I would simply recommend you always send somebody out there before you close to check and double check the condition of the property. It’s not expensive to do. First Valuation has that service and it’s less than $100. There are many other companies that do as well. At the event in San Diego, those are two of the major takeaways that I saw. We got pretty heavily into setting up a trust and that’s something else that you should look at. If you’ve been in the industry for a while and buying a lot of notes and building up portfolios, you may want to go ahead and put together a trust and a personal trust there. You can have a land trust and things like that.

Industry Updates: Foreclosure Crisis

Let’s get into some industry updates that will be of interest to you. Black Knight Financial Services put out their first look for the March numbers. The March numbers had been compiled and there are no major changes in this. If you’ve been following along, the trend lines are starting to level out on most things that we look at in the industry, but not everything. For example, the total US loan delinquency rate has absolutely gone down. We are at 3.65% in the total US loan delinquency. That is for loans 30 or more days past due date, but not in foreclosure. They’re simply late on a payment. Foreclosure action has not been filed. 30 days or more, sometimes that can go as many as 90 days before they file any notice.

Sometimes when you understand the business at a high level, you start simply to forget things and not pursue them as deeply as one should. Click To Tweet

3.65% that is down substantially from where it was immediately after the crash. We’re in pretty good shape there where things are starting to normalize. That’s a good thing for the overall economy. It shows things are going along pretty well. More people are working. They have affordability. The foreclosure crisis has recovered almost fully as far as new foreclosures. We’re still dealing with the problem of excessive inventory that’s still going through the system. As far as new loans and such, the foreclosure and delinquency rates are down and they’re down to historically where they should be. The total US foreclosure presale inventory is 0.51%. It’s down very low.

That’s telling you that trying to buy pre-foreclosure now in real estate is very difficult. Why? The inventory is simply not there. That is one trend line that is steadily gone down and down. Total US foreclosure, presale inventory as of March is 0.51%. It’s very low there. The starts are very low. Total US foreclosure starts in the month of March was down from the previous month. It was down 23% year over year or almost 24% year over year. The total US foreclosure starts. In March for example, 39,700 foreclosures nationwide were started. I’ll round it up for you. 40,000 homes all across the United States started foreclosure in March. You have people who still want to buy foreclosed properties or pre-foreclosed properties at discount prices. That is not a lot of homes. That trend line is flat. It’s nothing. That’s a blip on the radar screen.

That’s not the place to be. The place to be to buy discounted real estate is still nonperforming and reperforming notes. You’re going to see 2019 and 2020 are going to be the years of reperforming loans. I outlined this in my State of the Industry. Monthly prepayment rates have gone up slightly, which is rather interesting. Nobody has to prepay, but there are people that are. Granted, less than 1% of total US does that so it’s 0.84%. It’s a sign that more people are working, making money and making payments. In fact, they’re trying to get ahead of where they are right now as well, paying down that principal interest. That’s a good thing to see.

Foreclosure sales as a percentage of 90 day plus delinquencies went up month over month about 12%, but the total percent in March of foreclosure sales as a percentage of 90 day plus loans was only 1.65%. Buying properties at foreclosure sales is a rough way to go because you don’t have the inventory and inevitably that’s going to drive prices up in most areas. Somebody might be in area go, “That’s not happening here.” Because everybody bailed on those types of properties. If you’re the one who’s surviving, good for you. On a national basis, you’re barking up the wrong tree to find discounted properties there.

Some more stats for you here. The number of properties that are 30 or more days past due but not in foreclosure is 1.9 million. The number of properties that are 90 days or more but not in foreclosure is 493,000. What that trend line is showing us is lenders, both banks and non-banks, are trying to do more and are doing more in workouts. They’re helping people stay in their homes. They don’t want to go down the foreclosure road unless it’s absolutely necessary. We’re seeing more loan modifications. We’re seeing more debt forgiveness. We’re seeing loans stretched. We’re seeing interest rate lowered. We’re seeing forbearances and such. Banks, lenders and non-traditional lenders are working with people and trying to stem foreclosures. For us note investors, this trend line is an interesting one to watch when big companies and the two that I’ve been talking about so much because they buy the vast percentage of nonperforming notes, are Goldman Sachs and Credit Suisse.

KSS 30 | Pricing Trends

Pricing Trends: In the Pacific West, housing prices in the United States grew by 4%.


Both of those companies are highly motivated to do loan modifications. They’re not the only ones by any means that are doing that. You want to zero in on a couple of names. Those are just two good ones. What happens is though they talk about these loan mods and call them reperforming notes, you got to be careful here. We talked about this in San Diego as well and I laid out the numbers for everybody. What does that mean? What do reperforming means? Does that mean one payment has been made since the mod? Does it mean six? Does it mean eight? The answer is no. There’s no real definition and that’s the problem. A lot of these banks, what they may be doing and they still call them reperforming, is they will bring the loan down. They will forgive the debt that is negative equity.

In other words, if somebody has a house that’s worth $100,000 and they owe $130,000, the bank forgives the $30,000 and bring the loan down to the current value of the property. They will bring the loan down to $100,000. They consider that a reperforming loan. That’s nuts. There’s no track record or another bank will stretch out a loan. Maybe they at twenty years now, they back it out to 30 years and they lower the interest of a couple of points and the people make one payment, it’s now a reperforming note. I don’t know that we as investors would consider that fully reperforming. That’s where you got to be careful. That’s where you have to examine those. Look at payment histories and such and determine if it’s going to continue or not.

If you have an opportunity. I’m not saying you always do, but you will if it’s a seller finance note. If somebody did that on seller finance and they only have one payment, I might put an offer and say, “I will buy your note subject to me seeing that they make five more successful payments.” I will lock in that deal. In other words, I will put an option to buy that note subject to the condition that the people make five more payments. I’m not going to walk away from a potentially good deal, but reperforming note with one payment in my book is a nonperforming note still. You have to look at that default to the negative on those things. Even though you’re seeing more of this nonperforming go into reperforming because that’s the trend line, make sure you scrutinize those sales as if they were nonperforming.

The total inventory in foreclosure is only 264,000 properties in presale inventory nationwide. I’ve already made my comments on that. That line is going down drastically. The number of properties that are 30 or more days past due or in foreclosure is 2.1 million. We still have a lingering problem with foreclosures as far as inventory goes, but not on the new loans. These are a little bit more historically older loans that are still working their way through the pipeline. Eventually, these will be sold either as performing or now reperforming notes. Something else that was interesting in the Black Knight’s statistics for this report is they did list the top five states for noncurrent percentage of current loans. These are the states with the highest form of delinquency. That is Mississippi, Louisiana, Alabama, West Virginia and Arkansas in that order.

Mississippi still has and it actually grew year over year by 8.5%. Mississippi has still a 10.25% delinquency. That’s not good. That’s pretty high. That’s down from their peak. Their peak was 23% but now it’s still 10%. That peak was in 2005. It’s been a long-time problem there in Mississippi. I’m going to jump down to Alabama, which is number three. Alabama is coming down from a peak of 14.12% in 2010. It now has a delinquency rate of 6.87%, the third highest. The reason I point out those two states, Mississippi and Alabama, is because both of those states still have the hardest hit funds available. Alabama, for example, has only spent to date at the end of March only spent 61% of their money. They have a long ways to go. Mississippi has spent 80% of their money. They’ve got a ways to go as well.

Buying properties at foreclosure sales is a rough way to go when you don't have the inventory. Click To Tweet

That could be significant for you as a note investor if you’re looking for a good inventory of notes and you’re looking specifically for a nonperforming note that is still owner-occupied. That owner occupant is showing signs that they want to stay in that property. Those would be two states that you might want to take a closer look at. You might want to say, “Let me see if I can find some in here of somebody who’s deserving of this and qualifying for this hardest hit fund program.” That can add huge dollars to your bottom line. Those states will pay to catch somebody up on that arrearage account and they will pay their mortgage payment moving forward. All of that money goes directly to you. They may pay you upwards of $30,000 to bring that loan current. They will make the person’s monthly payment for the next six months a year, two years or that sort of thing. You may want to take a look at those states.

The top states also by 90 day plus delinquencies, they’re the same states but add in Delaware there. Mississippi, Louisiana, Alabama, Arkansas and Delaware are the top five states with 90-day delinquent percentages. Those are serious delinquent. The first ones I gave you are noncurrent. We had Mississippi, Louisiana. Alabama, West Virginia and Arkansas. West Virginia drops out on the 90-day delinquency and Delaware jumps in there. 90-day delinquencies, 3% for Mississippi and then all the way down to 1.3% for Delaware. Those are ones that are seriously delinquent. They’re facing foreclosures. They will show up either at a foreclosure sale highly unlikely at a small percentage or those loans are going to be packaged and sold as nonperforming notes.

As a footnote, the states that have the best six-month improvement in noncurrent percentages is North Carolina, Washington, Indiana, Ohio and Kentucky. Ohio is showing good signs of improvement. For those who’ve been around a while, Ohio has a lot of inventory for nonperforming notes. They’re very hard hit states as was Indiana. Those two states have gone through a very good improvement stage which is great for them. My true belief is it’s because of investors like you and me in the note business that started buying up this inventory, reselling them with seller financing and get these properties working. They get people into homes and get them renovated. The economy had some things to do with that as well. It’s a very good job in those states.

Industry Updates: House Price Index

Here’s another trend that I compiled. The statistics that I gave you are from Black Knight Financial. The next sets are from CoreLogic which works with Case-Schiller. They look at the National House Price Index. I was particularly interested in this one because historically what happens out in the Pacific West starts to go across the United States. If you go back and look at real estate trends back through history, that’s been the pattern. What happens out West starts to move across the US. There’s some impact from the Northeast that starts to come in and impact the rest as well. For some reason, that trend line is noticeable going from the West across to the East, to the point where I remember a lot of real estate people will say, “What happens in California eventually happens in Florida.” It’s that prevalent.

This article came out and it shows what’s happening out in the Pacific where housing prices in the United States grew by 4%. That’s based upon the numbers in February. That’s the 11th consecutive month of slowing home prices. It grew but they’re slowing a little bit. That’s not a bad thing. I’d rather see them slow than continuing to overheat and then we have another crash. Twelve months that we’ve had slowing home growth. It’s at the lowest level. Home growth is from October 2012. It’s not necessarily a bad thing, but also is an investor, you start to think of you cannot count on appreciation as a way to bail you out of an overpriced deal.

KSS 30 | Pricing Trends

Pricing Trends: The best place to buy real estate is through non-performing notes.


You can’t pay $0.90 on the dollar for something and expect to be okay in the short run because property values are going to be appreciating greatly. Those days have slowed down. There were pockets of that. Washington State was one of those states that went through the roof and there are numerous other ones. Seattle, particularly are the city went crazy with prices and people could buy and turn around, sell it a year from now and do very well. It’s slowed down. In fact, the largest slow down across the US, number one was Seattle. It took a 9.9% drop on the housing index, San Francisco 8.7% drop on the index and San Diego a 6.5%. We’re going from way up Northeast down to Southern California there.

You can see overall, those trends are down. Contrast that to highest year over the year price increase. You’ve got Las Vegas, just a tick under 1%. You’ve got Phoenix at 6.7% and you’ve got Tampa at 5.4%. I will double check my Vegas number there. That’s what we’re looking at. Phoenix and Tampa are doing very well. What’s interesting about that also is California is losing people. The people they are losing initially went to Seattle and Portland and cities like that. You’ve got to admit, taxes are playing a big role in that. Believe me, I talk with everybody in our San Diego class and everybody’s talking about taxes. “We love it here, but we may have to move at some point in time.” I had some people that flew to San Diego from Phoenix. They’re going, “Come to Phoenix, it’s going great.”

That’s what people are doing. People in California are moving to Texas and to Arizona. Some even as far away as Florida. In Florida, we get more of the Northeast who are going through the same thing. New York, New Jersey, Massachusetts and the high tax states are finally getting to that point where a lot of people said, “Enough, we’re going to go where it’s cheaper to live. We’re going to go move to Florida, Tampa, Orlando, to the highest city gross in the United States.” Jacksonville is growing. Miami’s a little bit different but Fort Lauderdale had seen some growth. There are many pockets in Florida. Texas and Arizona are growing. That may influence where you start to look at your long-term investments, where you start to look for other inventory and maybe alter your note investments a little bit to creating notes. Those areas: Las Vegas, Phoenix and Tampa are also very big on manufactured homes and mobile homes. Buy them up and sell them with seller financing.

A lot of people live in those communities. They can be strong deals for you. There are other trend lines here that I’m looking at. In the US, 4.3% growth rate. Seattle’s down, Cleveland, Dallas is down, believe it or not, Portland as far as house pricing index, Washington, New York, Los Angeles, Chicago, San Francisco, San Diego, all less growth than the national average of 4.3%. On the upside there, Boston, Miami, Atlanta, Detroit, Denver, Tampa, Minneapolis, Charlotte, Phoenix and Las Vegas. I will also talk to you a little bit about mortgage fraud. The highest state with mortgage fraud is Florida. We have a history of fraud in Florida. There’s a reason why people say, “If you do that, I will sell you swampland in Florida.” That’s one of the original phrases like that.

I know others have popped up. Ocean property in Phoenix, that’s another one that you hear. There are probably a couple more, but selling some swamp land in Florida has been one for a while and it happened. The Board of Realtors here, which I’m a part of, they always start with in their continuing education, they talk about Florida. The reason that the realtors were created was there was so much massive fraud in Florida. People are selling land and swampland and everything else to Northeasterners. There was no regulation. Nobody had to be licensed. Anybody could sell a piece of land. It was rampant.

As an investor, you cannot count on appreciation as a way to bail you out of an overpriced deal. Click To Tweet

During the boom of the 1920s, you had the Florida land rush and the trains were coming down. They would go down to Miami and then leave on boats, go over to Cuba, all those sorts of things. We had the huge land boom in the 1920s in Florida until over speculation from outside people, fraud coming in as part of that, hyper-inflated prices and appreciation caused the Florida land crash in 1925. That hurt the market down here in Florida. It was time for some regulation on these things. There’s a big history of fraud in Florida in the mortgage industry and in the real estate industry. It’s things you have to be aware of historically.

The highest fraud risk metro areas in the entire US are Miami, Fort Lauderdale and West Palm. They’re doing that by statistical metro. They’re number one in fraud risk and Daytona Beach, Deltona, Ormond Beach North of me here is number two. Then we’d go up to the Northeast, New York, Newark and New Jersey are number three. LA, we go out West is number four. Tampa, Clearwater, St. Pete is number five. Then we go way out West to a Honolulu, then back to Florida, Lakeland, Winter Haven, then over to Cape Coral and Fort Myers, then Newport, Sarasota and Bradenton, Florida, then Jacksonville, Florida, then Orlando, Kissimmee, Sanford, Florida. It’s a little bit of Florida run there. Then we’re back out to California, San Diego, then New Orleans and Thousand Oaks, Oxnard, Ventura, California. Wrapping up is Worcester, Massachusetts and also Connecticut in there. They’ve seen a surge of fraud in that particular area to a growth of 57% year over year in Massachusetts and Connecticut.

Be careful is the bottom line. There’s going to be fraud. Most of this fraud granted is in the banking industry where people are submitting false paperwork, tax statements, income statements, fabrication and self-employment people overstating income and things like that. A lot of that is within the banking industry. It is something we need to be aware of in the note business. For example, if you are going to be acquiring property and selling it with seller financing, make sure you get that stamp of approval. You did everything in your responsibility to make sure that that person had the ability to pay. You’re up to compliance. We did a great podcast on this with Russ O’Donnell. It’s eye-opening on why you want to be compliant. You may have borrowers that try to pull something over on you. Have a licensed person who’s got the experience, wants to see the documentation, knows how to do verification, and can get things to the point where we did everything that we were supposed to do. This person looked like they qualify.

For that reason alone, you should always have that in the back of your mind, “Is somebody defrauding me on the information they’re providing me?” If you’re buying a note, how seasoned is it? What’s the history there? Verify documentation. Please don’t buy a note where somebody says, “I will provide you with all the documentation after closing.” Why are they doing that? Because there is a problem. If there was no problem, they would show you that documentation. There’s either a problem or they told you they own it and they don’t own it. They know if you look at the paperwork, you’re going to see they don’t own it. Those are the only reasons because a lot of this paperwork is public record. Why wouldn’t they show that to you before you bought the note? Because there’s a problem.

Be aware of that. I’m not trying to scare anybody. Fraud is rampant everywhere, but if you build a system, if you commit it to muscle memory, you checked the box, “We did this, we did this, we did this.” You do that on every deal, before you know it, it’s going to become a pattern. It what you do and that will keep you safe in all of these deals. Hopefully, all this shows you. There are some states and things you probably want to look at and see if there’s inventory there. Understand that housing prices are starting to cool and it’s not a bad thing. It’s just don’t expect to pay too much for a property and count on good old appreciation bailing you out of a bad deal. It’s not going to happen.

Appreciation is cooling nationwide. When you see what happens in the Pacific West is going to start coming across the United States. Think about that ahead of time. There are still a lot of people that need help. There are states that have hardest hit funds available to those people, but as I always say, these government programs are great, but nobody knows about them. They do a horrible job marketing these things. The trends are still in our favor. The best place to buy real estate is through nonperforming notes. The safest and easiest investments are going to be buying performing notes. Those reperforming notes, you’re going to find gold nuggets in there. You’re also going to find some deals that they’re calling reperforming that you shouldn’t consider reperforming. All these stats play a good role in how you direct your investments and where you start to look for the next big opportunities and that’s what I’m doing myself.

I’ve got a lot of guest coming up. I’ve got two guests and we’re going to be talking about how to market yourself. If you are podcasting, if you are doing a Meetup group, if you got a training program put together, if you are tracking investors, you got to get your word out there. I’ve got a PR expert that will show you how to do that for free on a very small budget. I’ll have Christina Daves on. Also, I’ve got Steve coming on from CreditSuite and they have business lines of credit available for you for acquisitions of notes and real estate. I’ve got Paperstac coming on and I’ll continue to book other guests. Thank you all for reading the blog. I hope you enjoyed it. As always, if you’ve got a nice little testimonial for me or even a case study, I loved to hear from you. If you need some help, if you’re looking for some coaching, mentoring, anything like that, give me a call or simply email me at KShortle@iCloud.com.

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