Watch the training webinar replay for April 15th, 2015:
Announcements:
4/23-4/24 – Live 2-Day Workshop in San Diego
After the feedback from last month’s workshop/livecast and surveying several members of the group and where everybody’s at, next week’s workshop is going to be just that – WORK. Specifically WORK-ing your systems.
There will NOT be a Workouts Wednesday session – instead we will be going all day Thursday and Friday…
When:
9:00 am – 5:00 pm – Thursday, April 23rd &
9:00 am – 5:00 pm – Friday, April 24th
Where: Capstone Funding Group Headquarters – 11403 W Bernardo Ct Ste 200, San Diego, CA 92127
Please note, originally we listed the Workshop as being held on Friday/Saturday, but we decided to keep it during the normal weekdays per your request, and it helps us keep the weekends free for family. Sorry for any inconvenience.
If you can attend, please RSVP ASAP at this link:
https://m282.infusionsoft.com/app/form/workshop-rsvp-coinvest-members
We are holding it at the Capstone Funding Group offices again so space will be limited. Please let us know as soon as possible if you are coming or not by filling out the RSVP form above.
CAN’T MAKE IT TO SAN DIEGO? Some good news for those of you who can’t make it to the Workshop… Because we got such great feedback from the last Workshop, we are planning on streaming the Workshop again LIVE over the internet (technology permitting).
4/30-5/2 – Paper Source Note Symposium in Las Vegas
Capstone Funding Group will be exhibiting at Paper Source and Travis will be speaking as well. If you’re going to be attending, be sure to stop by and say hi!
New Hotline Submission Form:
One of the benefits of being a Co-Invest Member is the ability to submit your questions to our “Hotline” where we will be able to help you get the answers you need so you feel confident in moving forward with a specific course of action.
On Wednesday we will go through your questions and Hotline submissions, as we will on each training call/webinar moving forward.
In order to make the process of submitting to the Hotline easier and to make sure we have the information we need to research the best answer for you, we’ve set up a new web form for all Hotline submissions:
https://www.capstonefundinggroup.com.php56-10.dfw3-2.websitetestlink.com/hotline
Membership Site Updates:
We’ve got several updates inside of the members area since our last training call:
– The recording from the March Workshop is now available here.
We’ve added several new files to the Resources page:
– #1) Blank Trial Agreement w/ Exhibit
This is located under “Forms & Templates”
#2) Blank Loan Summary Template
This is located under “Forms & Templates”
#3) Washington State Cover Letter
This is located under “Forms & Templates”
#4) Underwriting Worksheet Template
This is located under “Forms & Templates”
#5) List of Attorneys We Use
This is located in the “Legal Resources” section.
#6) CFPB Portal Introduction and Setup
This is located at the very bottom in the “CFPB Portal Setup and Instructions” section.
Call Notes:
Bill’s #1 Tool for Success in NPJLs is using LEGAL.
Only 3 things can happen with your notes:
1) They are going to file Bankruptcy
2) They are going to pay you
3) They are going to give you their keys later on down the line
Most action happens when a foreclosure is about to happen and they are faced with a decision.
Main goal is to get the deed and get it to sale. This helps get the asset worked out.
Bill goes “Full Tilt Legal”:
– After boarding the file, he immediately contacts an attorney to send out the demand letter
Be prepared based on the state for how long it takes to foreclose.
If the 1st is way out in front of you on a delinquent first, he will put that off and see if anything happens with that.
If the 1st is performing and you start legal, they’re going to come to you to work something out.
If he had to criticize himself there would be 2 things he does:
– Generally gets a smaller monthly payment than a lot of funds but he has less hiccups
– He gets a lot of deals done but he might be a little too nice which could leave money on the table
Question: “What states would you not be as aggressive in with legal?”
– Depends on what is going on with the portfolio
– If you can buy notes in New York and sit on them, you will get paid at some point. So he doesn’t press there as it’s expensive and complicated.
– Stays away from Pennsylvania
– There is opportunity in any state.
– He likes to buy notes in non-judicial states
Key is to get a comfortable attorney
Recommended resource: Trustee Corps