E98 Deal or No Deal | Tycoons of Small Biz featuring Scott Carson

So, all right.

So let's talk about weclosenotes.com.

So you kind of alluded to it here in the beginning, you explain, you know, what it is.

You essentially go in, you buy, buy notes from the bank and you try to modify them to help people stay in their homes or in their businesses or, you know, whatever to, really have a good outcome for them.

And then of course you make money along the way.

So just kind of back up a little bit more.

First, tell us how you got started in the niche and then explain more clearly for those who haven't heard of this or don't realize how this works, how it does actually work.

So we closed notes became, it was a pivot.

It was something that was going, taking place.

I was a, been a banker.

I was a banker for JP Morgan Chase back in the day, going back to 2002, three and four.

enjoyed being a banker, but a buddy of mine that I previously worked as a financial advisor with Smith Barney prior to my banking days, started a mortgage company.

And with a couple of real estate investors who were traveling the country, teaching creative financing and working with these big, huge real estate investing expos.

And so I knew that's where I wanted to go.

So started doing mortgages from 2004 to 2008.

We were doing mortgages, originating loans in 30 different states as a mortgage broker, made good money.

But then we all know what happened in 2008.

The music started to slow and stopped.

We were doing both performing, I mean, A paper loans and also subprime loans.

But when 2008 hit, started the recession, my mortgage business basically went from right to basically zero overnight.

Really, a lot of people stopped.

And so instead of just going back to taking a job, I said, well, here's an opportunity.

I learned some skills along the way.

There's an opportunity here with this much distressed debt.

And so Luckily for me, I had a couple of mentors along the way that taught me the theory of buying notes of buying debt.

So, all right.

So let's talk about weclosenotes.com.

So you kind of alluded to it here in the beginning, you explain, you know, what it is.

You essentially go in, you buy, buy notes from the bank and you try to modify them to help people stay in their homes or in their businesses or, you know, whatever to, really have a good outcome for them.

And then of course you make money along the way.

So just kind of back up a little bit more.

First, tell us how you got started in the niche and then explain more clearly for those who haven't heard of this or don't realize how this works, how it does actually work.

So we closed notes became, it was a pivot.

It was something that was going, taking place.

I was a, been a banker.

I was a banker for JP Morgan Chase back in the day, going back to 2002, three and four.

enjoyed being a banker, but a buddy of mine that I previously worked as a financial advisor with Smith Barney prior to my banking days, started a mortgage company.

And with a couple of real estate investors who were traveling the country, teaching creative financing and working with these big, huge real estate investing expos.

And so I knew that's where I wanted to go.

So started doing mortgages from 2004 to 2008.

We were doing mortgages, originating loans in 30 different states as a mortgage broker, made good money.

But then we all know what happened in 2008.

The music started to slow and stopped.

We were doing both performing, I mean, A paper loans and also subprime loans.

But when 2008 hit, started the recession, my mortgage business basically went from right to basically zero overnight.

Really, a lot of people stopped.

And so instead of just going back to taking a job, I said, well, here's an opportunity.

I learned some skills along the way.

There's an opportunity here with this much distressed debt.

And so Luckily for me, I had a couple of mentors along the way that taught me the theory of buying notes of buying debt.