Scott Carson is a huge baseball fan and real estate entrepreneur who started buying distressed debt in 2005. Listen to Ep51 as Scott describes how the 2008 mortgage crisis and personal circumstances prompted a road trip to visit all MLB parks, which serendipitously helped him become a nationally known speaker and educator in the notes niche. After 3 years on the road, Scott is back in Austin, TX where he is using virtual workshops and podcasting to develop a new generation of note closers.
07:23s The “note” business, buying distressed debt
10:15s Rehabbing the borrower and statistics on defaults
12:36s How notes / foreclosures / properties are valued
15:52s Psychology and working with borrowers to negotiate new terms
19:43s The borrower’s point of view when notes changes hands
20:54s Teaching the closing notes business
23:57s Co-opetition, working together and collaborating within the note industry
25:50s Working in a mortgage company when the mortgage crisis hit
28:20s Visa commercial inspires a national tour of Major League Baseball parks
31:00s Thirty day tour turns into three year roadtrip meeting with bankers and asset managers 32:53s Starting to use videos in the note space
34:30s Moving back to Austin, TX and moving hotel workshops to virtual workshops online
39:50s The power of podcasting to revolutionize your business
41:35s Embracing new technologies and discovering restream.io for video streaming
51:15s Seeking counsel vs seeking advice
“Technology is constantly changing and a lot of people and still trying to do business like it was a few years ago.”
“It’s a lot easier to do it [learn new technologies] than most people expect, it’s just that you have to kind of take that mind block that a lot of people have, that fear, and put it to the side.”
“My biggest goal when I started teaching and doing these workshops and educating people was trying to help avoid the same mistakes that I made early on. Seek counsel, don’t ask advice.”
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