Jamie Bateman On His 2021 Goals And Expectations

January 8, 2021




GDNI 134 | 2021 Goals


Even though 2020 was a rocky year for many, there is still no reason not to be excited for the new year and look ahead with an optimistic spirit. After challenging Chris Seveney’s plans and expectations, it is now Jamie Bateman’s turn to present his 2021 goals. Jamie shares what he wants to achieve within the next 365 days, focusing on his career progress and growth. On top of that, he also expresses his interest in trying something new and working with a business coach, allowing him to increase the chances of hitting his goals and changing his mindset for the better.

Listen to the podcast here:

Jamie Bateman On His 2021 Goals And Expectations

Before I even introduce Jamie, I’m excited because we are going to go through Jamie’s goals for 2021 and he doesn’t realize the shit. Whatever his goal is, I’m going to make them double it because Jamie is easy to peer pressure. Jamie, how are you doing?

I’m good. How are you doing, Chris?

I’m good. Are you nervous? Are you excited?

I’m excited.

Do you feel like coming to the principal’s office with me where I’m going to beat you up a little bit?  

I was one of those things where I like to do what I say I’m going to do, which is good. That can lead me to be a little less committal on things because I don’t want to put all these big goals out there and not follow through.

The fun thing for me is I’m going to hold you accountable to them and I’ve got no skin in this game. I’m going to beat the living hell out of you for the next twelve months. With your wife, there’s give and take all the time with that or mostly she gives and you take it. With me, “I’m going to beat on Jamie for the next twelve months,” is what I’m thinking.  

There are not a lot of risks there for you.

Jamie, before we get going, what are some of your trials and tribulations?  

It was on that front, the ten New York loans that we’ve talked about several times on previous episodes were boarded with FCI. Some people reading this think, “It took a couple of months to get your loans boarded. There’s no big deal.” They have no idea. It’s such incompetence from the servicer that had 8 of these 10 loans there previously. Now FCI has them and they’re all boarded. They show up on the portal and Chris doesn’t have to sue any servicers, so that’s good.

The way I compare it is I have a son and I remember going to the Washington Zoo for 1st or 2nd-grade field trip of twenty kids in your group, take them on a field trip and try to keep them all together. That’s what it felt like trying to get these loans boarded or anyone that’s been through that.

A total lack of competence. I don’t know if the servicer has never transferred a loan out. I haven’t personally transferred a loan out from a servicing company but I can read. That’s a good thing though. We can full speed ahead and address the issues there. The other thing which is also servicer-related that I was going to bring up is it turns out it was a miscommunication. We’re going through our whole force-placed insurance portfolio, revisiting that, and trying to streamline everything. One servicer, it was Allied, told me that if I was going to do my own FPI, I’d have to take my loans from them. In other words, they wouldn’t service my loans if I didn’t go with either borrower’s insurance or Allied’s force-placed insurance. It’s a whole big thing but Beth got it all straightened out and we’re good to go. It turns out that was a miscommunication.

You’re going to be like, “I wish I left them to do the force-placed insurance because they’re trying to resolve.” That’s the one area that I see in this business that I struggle with the most. I love Allied and Madison but it’s accounting. I send Madison my advances for insurance, taxes, or whatever it may be and then I get an email from the account manager, “Can you send us the bills on the force-placed insurance for his property, so we can add it to the escrow analysis?” I’m like, “I’ve been sending them for eight months and I noticed they’re not in there.” On the flip side with Allied, if you get paid $300 a month, all of a sudden, you’re going to get paid $260. It’s like, “Servicing is only $15 and what’s the other $25?” It’s like, “Force-placed.” On this one versus that one, you’ll learn the hard way.

If a deal is not going in your favor, it is always okay to back out. Click To Tweet

Maybe I’ll regret it. We haven’t made the move yet as far as switching the FPI over but people ask, “Why would you want to do that?” First of all, it’s cheaper and less expensive. It gets billed back to the borrower but that’s not always true. Secondly, it’s better coverage. Even though they’re both through JB Lloyd, it’s less expensive, which should keep loans that have a higher chance of performing and it’s better coverage. If we’re already sending out borrower’s letters with other loans and services, why not do it for the ones that have with Allied. We’ll see. I get the servicer like Madison. They’re asking to see the FPI letters and proof that you’re being compliant. That makes sense but I don’t understand the servicer saying, “We’re not going to service your loans unless you buy our insurance.” Those are a couple of things I’ve been working on. It always seems to come back to the servicer.

People may have seen this on Facebook. I have a land contract. We filed legal back in February. It’s the fourth time that this borrower has defaulted. This time around, they’re like, “Can we make a payment reinstate?” I’m like, “Not this time around.” I get an email from the attorney who says the borrower assigned the land contract to another individual who’s selling the house to another person. The title company is going through all this paperwork and so forth. He emailed me the paperwork. I’m trying to find a notary with witnesses in this environment. I’ve got this paperwork and I finally got an appointment with the bank because the UPS store didn’t have enough people to get witnesses and stuff like that. I’m looking at the paperwork and at the end of the Sales Disclosure Form, the SDF form that you have to provide as part of the transfer and I’m like, “This is the wrong property. This is a property that I already have a note on.”

All of a sudden, I look at the name and the name is a borrower who I have on another property. The buyer of the CFD or the property who’s paying it off is one of my borrowers. Do you remember that multifamily deals I had in Indiana where I got the forfeiture and got canceled because they had more equity and end up working something out with them? It’s that guy. I called the attorney to see certain options I had and stuff like that. At CFD, I don’t have to sign paperwork until I get the money and he’s like, “The title companies got the money. You’ve got to sign it.” I did reach out to the guy and said, “Long time not hearing from you.” This is a commercial loan, so there are much different rules compared to consumer laws and stuff. I reach out and be like, “I haven’t seen a payment in two months.” He’s calling me, so it’s going to be a fun phone call.

I wonder if he’s one of those borrowers you, Gail, and I have had where they pop up all over the place.

It’s him and his brother. His brother is the one local who manages it. He’s out somewhere on the West Coast and he’s like a doctor or something. I think his brother is playing him and have no idea that this property is completely a disaster. That’s one of the reasons I want it out of my name. It’s not habitable. It’s got many roof leaks and they’re like, “We’re going to try and file an insurance claim.” I’m like, “What? For a 60-year-old roof that leaks?” That was one I’m trying to close on 20 of the 60 assets which ended up getting paired down to fourteen. It was part of due diligence. For people out there, when you think about it, that’s six assets that spent about $1,500. At the end of the day, that goes by the wayside. When people are starting out, you’ve got to remember you’re not your hit rates even after our offer, except it is not 100%.  

I’ve got a question for you. What percentage would you say of offers do you get accepted and then what percentage of loans do you close on of offers once you’re under the agreement?

I have that data. What I do is create a budget at the end of the year. Twenty percent is what I budget every year. From buying 100 notes, we have twenty times. I’m going to have roughly, whether it be $5,000 or $7,000 in lost opportunity costs for that year. Every year, I do a full-blown budget like a business that says, “What are my expenses? How much do I spend?” I note down to the tee how much I spend on every single software. All of that goes in there. The reason I used to do that was what we talked about previously is when you do JV deals, typically, you should charge an administration fee. How I came up with my number, I have my bookkeeper, my Infusionsoft, my last opportunity, my telephone, my computer, and my internet. Everything that you spend money on, your general counsel that you’re dealing with contracts and stuff. All the stuff that doesn’t get charged to deals, how much is that a year? If that is $24,000 a year and you’re going to do 24 deals, then you should cover roughly $1,000 per deal to cover some of those costs.  

Do you think if you have ten loans under contracts, you’ll close on 8 or 9 of them across after taking everything into consideration?


For new note investors, it can be what is an acceptable reason to back out of a deal and then what did the numbers look like? Pre-agreement, how many loans do you bid on versus how many do you end up closing on? That’s a whole different topic. I’m working with somebody who’s closing on their first note and that they have it under agreement. He talked to an attorney about a particular state and CFDs there. The attorney is like, “Don’t buy it.” Is that acceptable to back out?

One of these I’m looking at has a lost note affidavit but the lost note affidavit was not written properly. It’s been filed for foreclosure. It’s made its way far down the path. The property BPO came in at about half, the borrower is extremely difficult and the borrower attempted to sue the lender already. You combine all that and I went back to the lender and said, “I’m going to pass.” He’s going, “Why?” I’m like, “Here’s 1, 2, A, B, C and stuff.” The risk is not worth it from this perspective. The offer that I would put in for this thing and this gives you an idea that this is a six-figure asset acquisition. It’s not like $10,000 that I’ll roll the dice on it. This is a $100,000-plus loan acquisition price. That’s not worth at risk.  

I backed out of one too where it was a similar thing. It’s essentially ten different reasons I don’t like this deal anymore. Was any one of them incurable? Probably not. When you big picture it, “No thanks.”

Are you ready?

Let’s do this.

GDNI 134 | 2021 Goals

2021 Goals: Making more than $250,000 during your first year in notes is only a myth.


How many do you have?

I have four goals.

Mr. Jamie Bateman, what is your first goal for 2021?

For my note business, $100,000 in profit from notes for 2021. It’s straightforward whether I meet it or not. That’s factoring in all those expenses you talked about.

When Debbie does your books at the end of next year on that P&L statement, you want the left side to be $100,000 bigger than the right side.

Do you think I can do it?

Absolutely, when you start in your fund already. I don’t realize this but the attorney already knows that you do it. I’m like, “He’s going to call you.” I keep poking him.

I did briefly mention it to him once too. We need to talk about that too. I know that came up when we’re talking with Carson Faris about funds versus other ways to do things. All of these goals are all tied together.

That is a lofty goal because you see these gurus promoting, “You can make $100,000, $250,000, or whatever it is your first-year notes,” but the reality is that is complete BS. Think about it. If you want to make 10% of your money, you need to have $2.5 million at that point in time. If you have your own money for $250,000, you could get away with maybe $1.5 million or something along those lines. For other people’s money, if you’re making 10%, 15% on that, that’s good. Jamie, have you figured out how much money do you need to raise and get to that $100,000?

No. My second goal is to start a fund. At some point in 2021 to start a fund, what that’s going to look like, I have no idea. I do think, back on the first goal, I’ve been putting any earnings back into the business and it takes a while. We’re coming up on three years that I’ve had the business going but it’s only a little over two where I’ve been active with it. It takes a while to get up and running. If you’re selling partials on performers, you’re deferring that cashflow to go out and buy more notes. What would you say is your average turn time for a nonperformer approximately? Any idea?

I’d say it is eighteen months. It’s over a year typically.

If you’re buying nonperforming assets in January of 2020, I haven’t sold that many yet, so it takes a while. I am optimistic on several assets that I already own that I’ll be able to make a profit.

That’s the interesting thing because what you did for 2021 is you’ve got this goal. A lot of it is based on what you have or what you acquired this 2020. Even if you start a fund next year, depending on how you structure it, it’s going to take several months to get it set up, to buy the assets, and everything else. You’re looking at six months already, so you start now, you cut half the year off.  

Part of that $100,000 is going to have to be from notes I already owned for sure and then starting a fund. That’s the second goal. We beat that one to death. Do you have anything on that?

Sometimes, it only takes a little push to bring yourself back into the game. Click To Tweet

Are you making the proverbial shift from JV deals into a fund?  

I’ve had several people approach me about JV deals but I haven’t even started one in the whole second half of 2020. It’s tough to answer because they’re going to be more nonperformers out there than there have been. I do want to pivot in that direction and joint ventures work better on nonperformers.

In one of your goals, do you have a number of how many assets?  

My third goal is to purchase 75 new assets. Initially, I had a number of total assets I wanted to have under management for the end of 2021. In order to make that first goal of profiting, I’ve got to sell some assets. I thought buying 75 notes in 2021 is aggressive but doable. We’ve got 35 and a lot of our systems are in place. It’s a plug and play, throw them into the machine a little bit and go from there. If I’d said that in 2019, I would’ve blown my mind but now I can see it.

Let’s say it’s 75 notes. What do you think the average value will be on them, UPB?

Let’s say $40,000.

That’s $3 million in assets. That’s a good year. When you look at it, you get $3 million in assets under management. The average of them is half a year, which is six months and we’ll say $1.5 million. You make 7% on those. Here’s your $100,000.  

My numbers are realistic as far as working with each other.

I got my mortgage office open and I’ve got another twenty loans getting boarded that I bought which will put my limit to $250,000. Plus, if I close on 20 or 15 to 16, I’ll hit right around $300,000 by the end of 2020. The net will be numbers-wise or principal balance be somewhere over $10 million.

You’re still closing on 40 other assets, right?

Yes. I got due diligence. I got to wrap up hopefully, so I can close on those. I’ll drop five out of there and some will drop out of there as well. This is how people should look at things. I want to buy 75 assets at $40,000, which is $3 million. If I spend $0.40, $0.50 on the dollar, I need $1.2 million to $1.5 million in money. How much can I make off of that as well? If you make $1.5 million and you can make 7% personally on that for that year, there’s $100,000. What’s your next one?  

My fourth goal is to hire a business coach. I don’t have a date that I’m planning to do this by but I’ve given it a good bit of thought. I’m not talking about spending $50,000 on a coach or something but one of the things I want to do is this will force me to look at everything even more as a business. Specifically, I want to work with somebody who doesn’t know notes very well. It’s not to say that a note investor isn’t good at a business either but I feel like with the group and all the sharing we’ve got going on there, a good number of experts out there that I can continue to learn from on the note side of things. We’ve got a rental portfolio and some other things going on that if I hire someone who’s not an expert in notes, that can help me to stop working so much in the business and work a lot more on the business.

For some reason, I’ve gone back to the BiggerPockets Podcast but not so much on the real estate one but more than one on Sundays. They’ve got money, a business, and a real estate one. They’re doing one more on mindset stuff but it crosses into real estate, business, and all that stuff. They had Dan Sullivan on, who’s a strategic coach. It’s a high-level business program and I’m not thinking of going down that road. It was interesting when Brandon Turner asked him about hiring. Brandon is thinking like, “You’ve got to hire to delegate and grow your business,” and it make sense. Dan Sullivan, who is this successful coach and a business person says, “I realized I’m terrible at hiring,” and so he doesn’t even hire. He’s taking the delegate or remove yourself from the business even one step further.

It was an interesting way to look at it. His business hires people but he doesn’t personally do it because that’s not what he’s good at. The point I’m getting to is trying to focus more on what I’m good at. I’m not saying I’m not good at notes but I’m good at leadership, and management, trying to scale a business that way. Working with a coach who can instill business and life principles that aren’t necessarily specific to IRR yield or UPB can help me to scale the way I want to.

GDNI 134 | 2021 Goals

2021 Goals: Even if you start a fund next year, it’s usually going to take several months to finally set it up.


The biggest thing I’ll tell you about if you get a business coach. I know a lot of people get the business coach or like, “I’ve got a business coach,” but they take the information and ended up doing nothing with it. You’re spending all this money and if you want to follow through, then follow through. You can’t not do it. You need somebody there to push it as well. I still would tell you on that front, I recommend to try it. I started doing Mindvalley. They’ve got Keith Ferrazzi who’s written many books about networking and which means raising money is networking. From that perspective, he’s got people on there who have trained either professional athletes, people run marathons, or people who climb Mount Everest.  

People who are high performing individuals. I’m taking one that’s cool because it’s about The Habit of Ferocity and getting in the zone. When we say the zone, I’m like, “If you ever play sports, there are those days where you’re unconscious.” It’s a certain mental state. It’s been studied that there are things you can do to trigger that. When you’re in that zone, you can perform five times more productive than you are normally. Think about from notes or businessmen perspective, you didn’t get yourself in the zone and get five times more done in a day than you typically do. You get done in one day what most people get done in a week.  

The Mindvalley stuff is self-paced.

It’s self-paced and it’s twenty minutes a day. It’s $600 for the year. It’s $50 a month. My wife got it for me for our anniversary. At first, I was like, “Whatever.” I started looking at some of these from people and researching them, and I’m like, “This is cool.” It’s one of those things too where you can start implementing some of this stuff and it’s like, “If you don’t follow through with it, you just spent $600. You didn’t spend $10,000 on a coach or something.”

I don’t know exactly how it’s going to look but I used to do CrossFit. CrossFit is controversial. People got injuries and everything but it was impactful for a lot of people. One of the main reasons is the accountability, group, atmosphere, and you’re pushing each other. I don’t know if I ever did a CrossFit exercise that I hadn’t done before I started doing CrossFit. There’s nothing magical about the reps, sets, exercises, or any of that stuff. It’s mostly about accountability and pushing each other. I don’t expect to find a business coach who knows everything and he’s holding out with all these secrets. It’s more about having a weekly meeting or thinking differently mindset stuff.

It’s like, “I’ve got some homework I’ve got to get done to implement in my business.” Maybe it’s more of an informal mastermind group or something like that but it’s easy for me to get caught up in asset management because there’s always stuff to do. I’m sure you’ve got a lot to do with your notes and your full-time job. It’s easy to get caught up in that. That’s one of the things you told me that people spend too much time checking the servicers portal to see which borrowers paid or trying to expand things mentally. It’s where I’m headed.

Accountability is going to be important too. When we did my goals, I was trying to get other people and that’s one thing. When I do the training, it’s going to be in a group but people are going to be each other’s accountability partner. That’s one of the biggest things where people sometimes need that little push. We talked offline before this. I was not in any mood to get anything done. You have those days but you still push through it or focus to get your mindset reframed for the next day or whatever it may be. I’m a little disappointed in one of your goals because it goes back to mindset. If you don’t write it down as a goal, it’s not going to happen.

Is that the one you’re talking about?

Yes, it was. That was why I want to throw a fifth goal. Emily was also on the podcast as well. For those who don’t know, Emily is the brains behind the business perspective. Have you spoken with your good friend in the lovely Tar Heel state?

I thought about that when you were talking about your CFD borrower. I keep redirecting her to Madison. She emailed me and I didn’t even respond. I forwarded it to Madison because North Carolina can be tricky with borrower contact. At this point, if you go back and look, we deferred either 2 or 3 months when COVID hit. She’s playing the servicer and me against each other, a mom and dad kind of thing, and trying to delay. I had it set up where I said, “If she hasn’t put down $1,000, set the account for full reinstatement, which is almost $5,000 and it might be closer to $4,000.” I have this a joint venture deal too. It’s not just me or my money. She needs to make up her mind.

I’ve got one similar in the same state where the borrower is using it as a rental. It’s clear that where he was living, he’s not paying but I had the attorney involved. In North Carolina, he’s dealing with Madison and Madison was like, “He’s living there.” I’m like, “He’s not living there. He says he is. What’s the mailing address on the statement every month?” He’s like, “It’s not that one.” I’m like, “Yes.” He’s like, “He said he moved back in after his girlfriend left.” I said, “His girlfriend didn’t leave. She burnt a man alive and is in prison for life.”

My borrower has a different mailing address too.

On this one, I said, “The guy needed $1,000 to reinstate months ago.” The payment is $400 a month. The guy still doesn’t have $1,000. It’s months later. If you do the math, you should have close to $2,000, not $1,000. Unfortunately, I was using an attorney in the state as I started the case and I got a referral from somebody. I now use a different attorney in the state. I still haven’t found a good attorney. In North Carolina, I’ve gone through several and they seemed slow. I’m trying four different ones in North Carolina to see who I like.

If you don't have your goals written down, it's not going to happen. Click To Tweet

I’ve got referrals from this person who’s like, “I talked to him because he’s got your referrals.” I was like, “He does but the ones he has aren’t the greatest in certain states.” They use another company that was in many states but they outsource it to somebody. I know somebody posted in a group like certain people and who to use in North Carolina. I’ve used every one of them that’s on that list, and to date, I haven’t been super impressed. Jamie, those are your goals. Every quarter, I’m going to poke you like the bear and be like, “Where are you on your goals?” to see where you’re at and if you’re on targeting from that perspective. I’m wrapping up this episode, what is your Note and Bolt?  

I have one and it has to do with some of the things we’ve talked about. Some servicers will not escrow for back taxes, so Madison does not.

I don’t think any of them do.

That’s what I was unsure about. Somebody said in the Facebook group that FCI did.

We have to advance them and then they will start collecting on them. I have one that I advanced and now they added it. It’s an added charge to their account. I had somebody who had escrow $200 a month. I advanced $1,200 in taxes. Now their escrow payment is $300.  

They will escrow if it’s advanced.

If the loan documents allow for it, then they will. That’s another kicker and that’s one thing people and I are like, “What do the mortgage and note say?” It’s what takes priority. Does two payments take precedent over the current principal and interest? It’s all in those documents.

It’s not always based on a servicer. They have to follow what the documents say. My Note and Bolt is that most servicers or Madison specifically I know does not escrow for back taxes. You may buy a performing note that has two years of taxes do just factor that into your bid price. You may be the one paying for that upfront at least. Something to keep in mind when you’re shopping servicers or reading through the documents.

This is the gray area of the business that you can’t teach. Sometimes you win and sometimes you lose. I had a deal where the borrower was in poor health, couldn’t afford the property, and eventually, we’re going through foreclosure. It did have equity in it. We had a foreclosure date several months ago. It was in October and the borrower was attempting to sell the property prior because they’d get more money to sell than it where foreclosure. There was a buyer on the line and they were supposed to close before the foreclosure sale.

The attorney and I were talking and we’re like, “They’re legit. They researched who was buying it, and they have done fix and flips and stuff like this in the past.” It was an investor so we canceled the foreclosure sale. They’re supposed to close the day after. This was October and the day after it turned into the hard money lender bail, this happened, that happened, and everything. There was some stuff that occurred during that time. That gave us some cause for concern on how certain things were being handled. After a week, we’re like, “We’re going to reschedule the sale.”

If they close before it, great. If they don’t, we have the sale. The borrower is ill. If something were to happen to the borrower, then you get kicked in the probate. All of a sudden, everything stops. We had that in mind as well. It’s supposed to close at the end of October, Thanksgiving, after Thanksgiving, the day before the foreclosure, but it doesn’t. We had told the buyer, “The sale was at 11:00. If you don’t have the funds by that point in time, sorry.” They send a wire transfer at 10:15. It was a screenshot but they didn’t authorize the wire transfer. It was like, “You put it in your banking system and that’s all it was, a screenshot.”

This is the day of the foreclosure sale but also the day they’re supposed to close to buy it.

They had signed all the paperwork unlike before but still were not confident in them closing just because they signed the paperwork, which they said they signed last time as well that people had the money. At 10:15, the title company says they have the money, but it did not appear they did. They appeared to show a wire that wasn’t a wire going through to my servicer. We’re like, “We’re not canceling because we had zero trust in the people involved in this transaction.”

We’re not going to cancel the foreclosure sale. You’re going to keep the foreclosure.

GDNI 134 | 2021 Goals

2021 Goals: Getting in your own zone allows you to perform five times more productive than usual.


We cancel, they wire, and I get paid off pretty much. We were getting paid off either way. We get paid off immediately. We don’t and we cancel. Something happens to the borrower. Probably another six months to a year before anything happens. That’s a risk. Will I get the money? The guy is in the hospital with organs failing. This is what they were saying. We go through the foreclosure and I get my money maybe 3 or 4 months while it’s still technically collecting interest during that time as well because of how it works. Five minutes before, the attorney sends a message like, “What is going on?” They’re like, “It’s coming,” and it doesn’t come, so we foreclosed. The money did come at maybe 20, 30, or 40 minutes later. We mentioned to the servicer, “Send the money back.”

This is comical because the servicer reverses the wire. There was a hard money lender involved in this who gets upset with the title company and stuff. The title company is yelling at the servicer saying like, “Wires are instantaneous. We should have our money back. We want our money back. We’re going to sue.” Threatening lawsuits against the servicer which was ironic. I’m sitting there reading this like, “If wires are instantaneous and you said you had the money from the hard money lender at 9:00 that morning, why couldn’t you wire it before 11:00?”

It’s like why is that the receiver is instantaneous and not the ones they send?

That is complete BS because wires are not instantaneous.

It can take several hours.

If you go on a website, it says it can take several days for a wire. The bank is a bank I use all the time. If I wired you money now, one, it has got manager approval which will get sent, then they confirm the money is in my account. Nothing’s been withdrawn. In your account, it’s going to show up as pending. You don’t have immediate access to that money either. It’s still pending, it’s there, but technically we think it’s there, but it’s not a finalized transaction. Something could still go wrong. When you’re dealing with six-figure numbers, it wasn’t that it was pending, they didn’t even have a wire transfer number. It’s like, “What’s the transfer number?” I share that story because this is a stuff along with Note and Bolt for some reason. These are the things that can happen in the business that’s like, “What is my risk?” The upside was I could get paid off at day or the following day but there is a history of potential risk and liability. That was the best case.

The worst case is I cancel this and something happens and then I might not get paid off for a long time. The middle situation was I foreclose. We know it’s going to sell for more, I’m getting my money, and I know a timeframe of when the foreclosure will get approved. I took that middle option because I did not want to risk the two other ends of the spectrum, either immediate or now because at the end of the day too, it’s not I needed that money a day to do something else. If I get the money now from the foreclosure sale to when it ends, it’s a 9% interest. That’s still a nice return over the next three months where I don’t have any place I’d be putting that money that would get me that 9%. I also know what I’m going to be getting that money, roughly, I can start planning how I’m going to invest it in my next go around.

Politically, you don’t know if you canceled the foreclosure sale. Who knows if they re-institute foreclosure moratorium in that state or what happens? There are more known with going forward with it and more constant. You have a little more control than canceling the foreclosure sale. With knowing what you knew at that point, it made a lot of sense. Looking back, maybe you wish you’d had gone through with the sale and gotten paid but you didn’t know that. It makes total sense what you decided to do.

There’s history on this as well that I can’t get into details on that we were skeptical about. Let’s say some things were not done above board. From that perspective, certain things were done that we became aware of because they thought my attorney was the borrower’s attorney and not my attorney and may have left a voice message on something which was not above the board. Right then and there, any confidence or faith was out the window.  

You’ll get paid in a few months. Is that what you’re saying?

Yes. Jamie, anything else as we wrap up this episode?

I’m good to go.

Thank you, everyone, for joining us on this episode.

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