E325 | Fred & Tracy on Mastering Seller Financing the Right Way – PTNC Know Your Speakers

Foreign.

Of the Paper Trail podcast, I had the opportunity to interview Fred and Tracy Rui from NoteInvestor.com they are a key component of the Paper Trail conference that we're hosting September 18th to 20th.

They are leading the charge is what I like to say on the seller finance track that we're going to be providing at this event.

So we talk a little bit about the history, their backstory, but also what you're going to get out of the conference from their perspective, which I think is extremely important and talked really about.

This is the only conference that's out there that ties all of the note investing options available to people together.

Whether you're looking to invest in non performing notes, whether you want to do seller financing, you want to do sub 2, you want to do private lending, we've got experts in every single category there to network with and to learn from.

So in this episode we talk about that.

You get to learn more about them, their program and what they're going to be offering at the Perry Patrol Conference September 18th to 20th in Chant, Arizona.

So hope you enjoy this episode.

So check it out.

Fred, Tracy, how are you doing today?

Good, good.

Yeah, we are happy to be here and so excited for the conference coming up.

Paper Trail, love the name.

Well, thanks for being a part of it.

It's greatly appreciate everything that you do for the note community.

It's exciting to have people who are well respected and just really know what you're doing be a part of it.

So we're trying to get, you know, people attending and just people in general to know more about Paper Trail and get to know the speakers involved.

So like to start with letting people again, let you talk a little bit about, you know, your story and how you got involved in node investing in the first place.

Well, you go first.

Well, all right.

So as in case people are wondering, Fred and I are married.

We've been married 27 years now and we met.

Thank you.

Through the no business.

So we worked together and we met through working together, which is kind of cool.

So we have a great return on investment.

Hey, that should be my line.

I thought of it first.

So we came through that came to the note business in different ways.

So I grew up in a very small town up on the Canadian, Idaho, Washington border and there's a lot of seller financing up there and our niche has always been seller finance notes.

And I worked for an attorney that was a title company and a servicer and they used to pull lists for investors that would buy these seller finance notes.

And that was kind of my first introduction.

And then I moved to the big city of Spokane, Washington, and I responded to an ad for somebody with closing experience to come work for this investment company that was buying these seller finance notes.

So just so people know, this is not a new thing.

We have lots of new ways and technology to do it, but it's always been out there.

So I went to work for them for 10 years and I learned, I bought seller finance notes all over the United States and I learned a lot from them.

We refer some and that's what we still do today.

Yeah, I was on the other side.

I didn't start on the investor side.

I kind of started out in the world.

And I was in a 500 square foot apartment, living on the west coast, trying to figure out how I was going to buy a house someday.

And I just happened to take a night class at a college and the gentleman that was teaching it was teaching basically how to buy houses.

But then he did one week that he did the financial calculator and another week that he did buying notes.

And I just thought that was the coolest thing ever because I'm just like, wait a minute, I can own the property, own the cash flow and not the property, and not have to worry about all the other stuff.

So kind of just declared myself in business and spent a month.

Yeah, yeah.

So I spent $6,000 on a fax machine and a computer that probably wouldn't even run to this day.

Yeah, 92, 93.

And so, yeah, so then I, he, he taught me and I, I found my first note and flipped it and I'm like, oh my gosh, I just made more money than I would make in three months on one transaction.

And I never left my apartment with a bowl full of pizza rolls and, you know, whatever.

So I'm just like, this is the, this is great.

So then I just decided to keep doing that and I did that and eventually I ended up being hired by the investor side because they wanted somebody that, you know, experience on the outside and what, how, you know, kind of brokers thought and the referral mentality.

And like Tracy said in 97, we just kind of said, you know what, we're Going to go our own way.

It was a little bit of a conflict of interest for us to be able to buy notes.

When we worked for an Investor, they're buying $10 million, $12 million worth of notes every month of private notes.

And so we just said we're going to do it ourselves.

We wanted the flexibility and built the business that way.

And it's been awesome ever since.

You know, like, you know, look at, I mean, out of state investing back then would be, you know, so chaotic.

Yeah, yeah.

It was a lot of, you know, I mean, the big thing really was like the inspection of a property that was, you know, an appraisal.

You know, in the transition from appraisals to BPOs and then BPOs being in a professional drive by way, that worked for us that, that sped things up.

There's been a lot of advances.

We both have been in this over.

Over 30 years.

There's been a lot of advances that.

I hate to be that kind of old guy that's like, you kids don't know how good you have it starting out today, but then don't.

But, you know, but, but you do.

You do.

There's a lot of, like, you know, we didn't have a T value.

We didn't have, you know, we, I.

Mean, you know, so now the beautiful thing about the no business because we've embraced technology, is we can do it all online.

We can scan.

It's amazing what we can do because we can do it from anywhere.

Right?

You don't have to be located.

You don't have to be restrained by fax machines and overnight services.

So we love the no business.

It's.

It's a.

It's changed over the years, but many of the same things hold true.

You know, you got to review your collateral, you got to review the documents, you got to know your borrower, you got to know the state laws.

And so that's what will bring to the paper trail, how to work with those seller finance notes.

Because I know you're doing three different tracks and seller finance being one.

And that's the beauty of the note business.

You.

You can come at it from different angles.

So people are usually surprised that there's 30 billion with a B dollars of seller finance notes created every year.

So That's a lot of inventory.

They're all not buyable, and all those sellers don't want to sell them.

But there's a lot of inventory out there.

Yeah.

And each asset class that, you know, everyone plays in, people got to realize it's either a B or a T in regards to billions or trillions of dollars in the space.

So that's where I think a lot of people in this space, it's very different than traditional real estate investing because there everybody is fighting over the same properties are the same thing.

In the note space, people have very different buy boxes or where they're looking for and so forth.

So it's much more collaborative where it's like, oh, I got this.

Oh, it might not fit me.

But, oh, maybe you reach out to this person because they buy in this location, the state, or they do that type of deal.

Interestingly enough, somebody sent me a pool of loans the other day, and one of them was actually a wrap.

And I was like, whoa, I'd never seen a rat before.

So it's kind of, you know, like, remember the first time I ever saw the washing machines that, you know, would go in circles versus the top load?

I'm like, well, that's pretty cool.

So I'm reading the documents to try and understand it, because I had never seen one.

And then, you know, I mentioned somebody.

I'm like, oh, I know somebody who does tons of these.

These and, you know, sent it to them.

And I think he might actually, you know, be buying it and, you know, he's thankful, so.

Absolutely.

One of the things that we love about this site, at least the note side, is that, you know, over 30 years kind of proved what.

What we already knew because it existed before us.

Us.

But it works in any economy.

You know, there's.

There's, you know, sometimes the stock market's hot, and then sometimes it's off.

Sometimes the real estate market's hot, and then sometimes.

Sometimes it really cools off.

And the note space is always worked.

For us, the only difference between a good and a bad economy is who we're buying the notes from and who's creating the notes.

If the economy is going good and people are selling off things and creating notes because they want to, you know, they want to sell their note to get into another investment.

If the economy's not going good, if it's.

If it's tightening up a little bit, then they're selling notes because they're trying to, you know, pay off things.

And then there's always the.

You Know, life happens, right?

You know, I mean, somebody carries back a note.

It's a great idea.

And now I want to pay for my kid to go to college or I need medical bills or pay taxes or travel around the world, whatever it is.

So we have seen.

You know, everybody asks, do you get concerned about the economy?

It's always an annual thing.

It's like I'm concerned from a personal standpoint.

I'm concerned for me and my family, my friends.

Am I concerned about my business?

Not really.

Matter of fact, if anything, more notes are typically created in a bad economy than they are.

But as Tracy said, it's a $30 billion.

So maybe one year is 27 billion and the other year is 33 billion.

Well, guess what?

I don't buy any more notes because of that spread.

I mean, it's already more.

Yeah, no, and it's interesting too because a lot of questions we hear a lot are about like interest rates and like how interest rates and you know, interest rates.

For example, in my mind, with seller financing, as they go up, then you probably see more originations because people, you know, will rather go through the easy process of originating when interest rates are down.

Like you mentioned, Fred, people might be selling because they might be trying to take, take that money to go invest it or leverage it for something else.

So there's always a, you know, this, you know, reasoning why.

And again, like real estate, traditional, when prices fall or something happens, people just get very skittish.

Or like today when people are using leverage like, oh, the rental numbers don't work or whatnot.

Notes always work and you know, and that's what?

At the right price?

At the right price, Exactly.

But I mean, I have never had a situation where it's like, oh my God, I can't find any notes.

Like you said, we're talking billions of dollars.

Now.

Pricing might adjust or, you know, things might change or it might be a little slow one month.

But still there's always plenty of opportunity for people within the space.

Absolutely.

And if people don't want to buy existing notes, they can create their own notes.

With seller financing.

We see a lot of landlords who are tired of being landlords with taxes and insurance going up and tenants and so they are ready to turn some of those properties into cash flowing notes, let somebody else maintain the property and pay the taxes and insurance.

So we're seeing a lot of interest in people creating notes through seller financing.

Also using the wrap strategy you talked about because they can wrap around, you know, that 3 and 4% debt that's out there and they can charge 8 or 9%.

And those numbers work even if your property value hasn't gone up, as long as you're a borrower, is good quality borrower.

So there's lots of great strategies that you can use in the no business.

It's not just to buy a note.

Yeah.

And I think there's a natural evolution.

There's no barrier to entry.

So if you come into the industry like I did, I didn't have any of my own money to buy notes.

I learned how to refer notes to somebody else.

So once I learned the process, I referred them on to somebody else and I got a nice fee and I get 2, 3, $4,000, whatever I got for referring the note.

And then you build enough of those, then you start owning pieces of notes.

There's great strategies where you use somebody else's money to buy a whole note, but you only sell part of the note.

Now you own a piece of note and then you eventually start buying your own notes and start, you know, small notes and then bigger notes and then do it them out of your, you know, self directed IRA or you turn to Chris and you start a whole fund.

Yeah, I mean so there's no, there's this path of entry that goes through that.

It's just, there's no barrier to get in and I don't know another word, another financial related element where I get to set my parameters.

I go if my hot button is what state it's in or my hot button is the return or my hot button is it has so much equity, I, I choose those parameters, know whether I want to buy the note or not.

So one of the things that you know, I appreciate and have the utmost respect for the two of you on too is you teach people how to do it the right way.

Because there is a right way and wrong way.

It wasn't like a standard note.

They created their own note file which actually they called it a loan agreement, but it was actually a note.

But I'm going through it and then all of a sudden on like the second page it had like all the payments that they made, I'm like wait a second, how.

And then at the bottom is a person signed it from like three years ago.

How did the I'm like they just bastardized and like changed like the note and just stuck in the signature page.

And I'm like, you can't do that because it was a line of credit.

So they were putting like all the draws in there that they already did for like the last year because the balance was supposed to be like a million and they've drawn like 800,000.

But they went and they put it in there and they're like current payment amount owed, like on page two of the loan.

And I'm like, how did they know what that was today?

Time travel.

Time travel, Exactly.

And you know, they literally just, you know, bat.

And I'm like, okay, this makes zero sense.

So I'm like, I'm gonna pass on these because like, does the borrower even know they have this loan or what is, you know, did they actually.

Is that a real signature?

And you know, you, I share that story because you, there's a right way and a wrong way and if you don't do it the right way or you try and take some shortcuts on things, that's the one area in this business that I see where it can be catastrophic.

Someone asked me yesterday like, oh, do you ever lose money?

I'm like, yeah, we've lost money, but we've never had like a massive loss and on things and so forth.

And they're like, well, I hear people do it all the time and I, or do that.

I'm like, yeah, because they just don't follow the steps and they take the shortcuts.

And now I'd love for you to talk a little bit about more, kind of about the programs that you guys have as well and some of the things that you've done in the community you've built for people, for investors.

Yeah, we found there was a real need for approachable, affordable, hands on education.

And so after doing it for that many years, we decided to share that knowledge.

And so we do trainings and we have a membership and a community and it's just a great way for people to come together.

Like you said, some people buy some kinds of deals, some others so they can collaborate in those methods.

We, we don't try to sell or buy notes from people.

We want to just stay 100% educational.

We still buy and sell notes, of course, but our intent is really to help them look for the things we would look for if we were purchasing a note.

And so we use a lot of my, my background's title and closing and documentation.

And so we.

I'm a big checklist person and it was my job to hire and train the people so that more people could review files for that institution.

We had to make them quality, that we could securitize them.

That's no easy task with seller finance notes.

And so that I really like systems and checklists and so we share a lot of that with people in our memberships.

Yeah, I mean it was kind of that we entered into that about eight years ago was kind of that give back stage a little bit where you know, we just slowly built, you know, we were asked to do it earlier and we really didn't and we just thought, well okay, let's, what would it look like?

You know, now we have a little bit more time.

So we built this whole community that we have members that join.

Like Tracy said, we didn't want it to be a lot of money for anybody.

We didn't want anybody to think about, you know, you know how it is.

So we, we basically supplied, you know, a bunch of videos.

We've got over 500 videos in the membership and then we've got.

They can contact us with a help desk and we'll mostly do a lot of deal review or we do mini camps.

We'll do like little mini camps.

Tracy did a marketing mini camp for five weeks.

I've got one on AI coming out that we're doing together.

So it's very hands on, it's very interactive.

They work with each other.

Like Tracy said, we won't buy a deal from a member just because we feel like it's a conflict of interest.

I can't give you good advice and also be buying or selling deals from you.

So our opinion, other people.

One thing we, we definitely will be sharing at Paper Trail is our due diligence checklist because I'm a big firm believer in those checklists.

And you know, that's something we'll be sharing with people in our sessions just for being there and, and you know, that's.

We've got 13 questions we think you should have answered on every seller, finance note you buy.

We talk a lot about if we believe, if you want to be the bank, because that's the thing everybody talks about, be the bank.

I'm like, okay, you want to be the bank, then you need to act like the bank.

So you need to have systems and processes and checklists and use the right documents and not get cheap and not.

And avoid title and avoid attorneys.

I know none of us like to pay more than we want to.

But those pieces are very important part of the process.

I think we've had the same thing, like Chris said.

I mean, you know, people ask us, will, you know, don't you have really big losses and stuff?

I'm like, my big losses is that, you know, we own several tracts of land in Tampa, but I own the.

Own the land or I have a house, you know, I lost a couple thousand dollars because something went wrong or whatever like that.

If you buy it, right.

If you go through those checks list.

I mean, most times sometimes when we see somebody after the fact that's already done a deal and we're doing a deal review and go.

I mean, we may.

We don't point it out necessarily right out of the gate, but just like, you can see an obvious corner they cut or whatever.

And, you know, this industry is not that hard.

Just go through the list.

Take the time.

Go through the list.

Don't cut corners.

Because somebody said, hey, don't worry about it.

The value is really there.

Don't assume the value is the value that somebody told you.

Yeah.

And so, yeah, it's always like, oh, yeah, don't worry, it's gone up $100,000.

Sure.

You know, at least.

Oh, they're putting out.

And it used to be the ways that, oh, they're putting a.

A Buc EE's or a Walmart across the street or, you know, a new speedway, you know, like, don't worry, it's vacant land.

It's fine.

You know, so there's a checklist and we, we share if we're guilty.

Not guilty of one thing.

I feel like it's that interview where it's like, tell me your, you know what, you know, what is.

What are they detail oriented?

Detail oriented.

You know, those interviews you carry.

Yeah.

But one thing we do, one thing we.

We've never.

Of everybody that's come through there.

I mean, no one is ever accused of.

Of not giving out enough information.

We share everything.

You know, just why not?

I mean, at this point, yeah, we're the same way.

And it's interesting.

I look at checklists and, you know, and this is a.

Probably a bad reference because of what happened yesterday, but it's almost like an airline checklist of going through everything before you take off.

And people like, I had a woman who invested with me in the past and she wanted to go buy her own loan.

And basically I'm like, hey, I'm happy to help you out with due diligence.

Do whatever.

She's like, no, It's a seller finance.

It's a C1, I'm just going to go buy it.

So she went bought it $40,000 in Detroit.

Somebody seller finance it.

She bought it from them some company at 12%.

Well then basically she bought it.

She didn't collect one payment.

It was always non performing.

The borrower was a self directed Iraq owner.

So there was no recourse outside of that.

She finally after three months sent somebody by the property.

The property was boarded up and had like big holes in the roof.

There was like $9,000 in taxes owed on the property.

There were fines, there was everything.

And then she called me and was like what do I do?

And I'm like just walk away.

I'm like there's nothing.

She.

So then she talked to an attorney about foreclosing and I told him that property, that's what it is.

I'm like do you want to own that?

Because then you're going to go spend.

It was in Michigan which you can't.

You only get 75 bucks from your attorney fees to foreclose.

The attorney fees aren't recoverable and you still tax is going to get paid first.

And I'm not even sure you would get above you'll own it and still you know like oh the taxes anything.

I think it sold for somebody bought it.

So she's like I'm just going to go and bid like a thousand at auction.

I'm like then why even bother because you're spending it sold for like $3,000 at auction.

So not only did she lose her initial 40, she lost another several thousand dollars in going to foreclose.

But all of that could have easily been avoided because every single note, I don't care who is buying it, you know you need to confirm title and visuals on that.

Did she literally skip every step?

She literally skipped every single step.

And it was a company that originated notes and sold them to people and like oh, we've done all of this for you.

And that is when anytime anybody says we've done this for you, do not believe them.

No.

Run away.

Yeah.

Just so people listening.

There's ways that she could have known that up front and that is to order title and to get visualized in the property some kind of property condition report or BPO or drive by appraisal.

You can check tap your title report will check taxes but you could, you.

Can check taxes online, you can google.

That before you even get to spending money on titles.

So there's all the ways to do that.

We, we Just never skip those things.

It's just we've been doing all this time and we don't think we're smarter and that.

So smart we can skip those things.

You just can't.

You just don't know what's going to turn up.

Nope.

Yeah, you always.

Again, there's a checklist and it's just, just go through it.

And you know, some of the stuff is repetitive and a lot of times, like I had one, interestingly enough this past week, it was a property and there are two properties with the same address, interestingly enough.

And the same lender had given two loans on each property.

So it's like, what?

You know, and then which one were we buying?

So we had to go back to the tape because they had different loan amounts.

But all the data they gave us was from the other one, not from the one we were actually buying.

So it was just.

Now we're talking internally.

It's like, that's like an easy thing that honestly could have got missed.

But we have a checklist that is make sure the tape original loan amount matches the loan amount on, especially on non performers like that.

It's like, wait a second, those didn't match.

Is this the right loan?

Because you want to make sure you're buying the right loan that was on the tape.

Yeah, well, that's all the sort of things we'll all be sharing.

I know.

And all the different tracks of things that are the obvious gotchas that you can easily avoid and either find out and fix it or find out and say, yes, move on to another one pass.

So I mean, you work with a lot of people and you know, we talk about checklists and doing things and stuff.

And you may have answered this, but I'm just curious too, you know, as people who are looking to come here, what are like one mistake or several mistakes?

Sometimes you see newer investors make that, you know, also try and help them avoid.

You know, I'll say outside of basically following that checklist because that's kind of Rule 101.

So outside of the checklist, which is the due diligence thing, like, so we give away that list and here's what you need to do.

I'd say one of them is people getting kind of yield drunk where they're so focused on, you know, they heard in their head that they're going to get a 15% return or 14% return or 18% return.

And so they, they, they just, they obsess over that number.

And so, you know, Walt, Walt, poser A good friend of ours from years ago would tell us, look, you know, if the deal's not good at like 12%, it's not better at 18% yield does not make up for risk.

It doesn't make the deal better.

It doesn't sweeten the pot in a way because zero percent of zero is still zero.

If you don't get paid, then it wasn't a good deal.

So.

Or 20% or 20% not made up.

So, so if you, if you focus on that.

So we've seen a lot of people and self directed IRAs are a very good example of this.

People will sit on money earning absolutely nothing forever to find their dream.

14, 15, 16, 18 deal because they saw a case study where someone did something as opposed to buying a solid, sleep at night, earn 10 on your money, 11 of money, 8% on your money.

We buy deals at 8.

I mean, if it's a, literally, you know, it's a super low ITV and good credit and everything on the check, why not?

I don't even have to worry about that.

So I'd say that's one mistake out of the gate.

I'd say people do.

What do you think?

I agree with that.

I have sadly helped a lot of people lately who bought a note before they'd come to us.

So they, they did not get their assignment recorded, they did not get the original note, they didn't get an endorsement.

And now they're trying to enforce and they can't.

And I just, I've seen that happen like three or four times.

And I'm like, who did you trust to do all that?

Oh, we trusted the seller to get it recorded.

Don't do that.

You know, just, just take care of it.

Nobody, nobody treats your money like you do.

Nobody cares about it as much as you do.

And so if you don't want to do it yourself, then, you know, work, hire a third party professional that you're paying to do that, to look out for your interest.

So I've been surprised by that.

Like.

Huh?

They did what?

And so don't.

Yeah, just don't cut the corners.

So it's interesting, Fred, because I had this conversation with somebody the other day and they have like $30,000 to invest and again, they're trying to find that perfect deal.

And I'm like, do you realize the difference between 10 and 12% on 30,000 is like $600 a year?

It's $50 per month.

But the fact that you wait an extra six months, you're probably.

Or longer or longer.

And my wife is in finance and she's made this comment to me in the past because I always talk about, oh, target yields and stuff like that.

She goes, can you go open your bank account and show me, show me where it says in your bank account yield.

No, it shows a dollar value.

It's like it's all about how much you make.

You know, you want to target yield, but at the end of the day, you know, it's always about how much money are you making.

The yield is kind of the reflection of that, but at the end of the day it's, you know, how much money did you make?

And if you're making on 30,000 10%, you're getting $3,000 per year, which, hey, look, that's, you know, decent money compared to, again, based on the risk, if it's secured asset with good equity in it compared to some of the roller coaster rides you do on the markets or other types of investments.

So, yeah, I think people fighting for every dollar.

Yeah, we're concerned, I would say we're fairly conservative.

We tend to pick, you know, we want, you know, better credit if possible.

Is the noise guy.

We want to see, we want to see more equity in the property.

Then we, the, the numbers have statistically proven that there's more equity in the property, the less there is a chance of you ever getting that property back.

So we tend to lean towards that.

So, but you know, you, we get early payoffs and you know, things along the way that spike it up.

But you get to choose what your hot buttons are for sure.

Yeah.

I think there's a common sense approach.

Sometimes people, especially if they come from a technical background analyzing a spreadsheet, that they need to step back from the spreadsheet and just look at the deal.

Like, does this deal make sense and does this really, I mean, how many strikes against it does it have?

I mean, if the borrower, do they have equity, do they put down payment?

Have they been making payments?

Is the property in good condition?

Is it a state that's easy to do business in?

I mean, pretty soon if they're all like negative, but you've got a great yield.

Ah, does this, does this deal make sense or does it make sense that the, the borrower would have that money down, that they say, maybe you should verify that?

I think sometimes people look at only the numbers and they just need to step back a little bit and just say, in a, in a normal world where I was having a conversation with somebody, does this sound like a good deal?

Or does this make sense to me?

We do that.

We do that all the time.

When we're looking at deals for ourselves.

We're just like going through, you know what, you know, like, I don't.

Is this worth it?

Because Chris, you said it earlier, it's like there's a, there's a ton of other deals right behind it.

So it's like, if you don't really feel good about it pretty early on, probably better just walk.

Don't be afraid to walk away.

And I guess that's another thing, you know, don't be afraid to walk.

I will say one more tip that I thought of just now.

If somebody buys a deal and if it stops paying, don't sit around and wait six months, nine months for them to get back on track and stuff like that.

You jump on that right away.

Because we've dealt with people, members that'll call us and go, I've got this deal, can you help me?

When do they, you know, they stop paying?

I'm like, when do they stop paying?

It's like, oh, last January or something like that.

And like, what have you been doing all this time?

Well, nothing.

I talked to him once and they said they were going to try and get back on track.

It's like you need to.

There's a procedure, there's a checklist of what you do when someone stops paying.

Yeah.

And works through your servicer, of course, because there's laws and rules and regs on that.

Otherwise it ends up on Chris's side and it's a non performing loan, guaranteed.

And you know what, the first thing I'm going to do is going to my attorney and say, send that demand letter.

And anybody ever buys non performing, I'm like, it doesn't matter if they are the sweetest person on the planet.

You start the process because then it, then it puts a time frame to get a resolution to it.

It's not personal, it's business.

No, exactly.

So, so without spoiling all the great content as we wrap up this episode that you're going to be, without spoiling everything that you're going to be doing at Paper Trail, what's one thing you hope attendees, you know, learn or think differently after hearing or attending event.

I hope they come away and they understand a partial purchase and a hypothecation because it's very powerful that you can leverage your money.

I hope they come away and know that they can do it too.

No matter where they are at in their journey, whether they're trying to level up or they're just trying to get started, I think they'll find everybody there is very approachable.

I think I want people to be motivated, but even more so, I want them to have a plan for themselves when they walk out.

So if they already have an existing business, this is how they have the tools they need to get to the next level.

If they're new to the business, they feel like there's a path in front of them to follow and start succeeding and begin their journey in this business.

So not just a, hey, we're all motivated.

We're coming off a Tony Robbins thing, which, by the way, I like Tony Robbins, he's fine.

But we want, we want.

I want you to walk.

I want you to walk away with action.

I want you to listen to sessions because you learn.

I want you to participate and hang out during a cocktail party or a coffee party.

What I say today deals.

Deals like caffeine and cocktails.

So just, I mean, just learn all you can, but more importantly, not just have those things because some people get stuck in a learning mode over and over again.

Our focus on our track, I think, is, yeah, we've got a lot to teach you and a lot you can learn, but if you don't do any action with it, doesn't do any good.

So I want to focus on the action aspect of it, give you tools that you can put into action.

Awesome.

And that's really a big focus for everyone who's at this event, is to give people tools, timelines, guidance, whether you're a beginner or you're advanced.

You know, to bring up the next level and provide people that great content.

Well, friend Tracy, thanks for joining me today.

For everybody, the PaperTrail conference is September 18th to 20th in Chandler, Arizona.

You can go to papertrailconference.com to get your tickets and people want to reach out to you, learn more about your programs and everything you do.

What's the best way for them to reach out?

Noteinvestor.com I think is probably the easiest you can get on the list there for content.

There's over 500 probably free articles on there.

And if you're stuck, there's a Contact us and believe it or not, we actually respond personally.

So there you do.

How long have you had that domain name?

You must add that for a while.

2000.

Yeah, 98.

Yeah, we went on some domain buying sprees there for a while.

We do feel fortunate to have node investor.com, yeah.

Okay.

Just for the record, when we started the domain.

I started buying a lot of domains.

Trey's like, stop buying domains.

Why are you buying so many domains?

And then, like, I stopped.

And then five years later, she's like, why aren't you buying more domains?

I know.

I'm like, some girls like diamonds.

I like all these domains.

Someone had one the other day that was actually not a bad domain, but they reached out to me and, oh, no, it was actually, no, it wasn't domain.

It was.

It was like a Facebook group or something.

And they asked me about it, and I was like, looked at it and it was like six months old and had like 6,000 people.

And it was public.

But I'm like, yeah, that's kind of one of those groups that, you know, basically, it's like getting YouTube views, or if you hire somebody to give you, like, YouTube views, it's like, oh, we'll just have the bots overseas just, you know, get you and stuff.

We're real.

No bots here, but we are Investor.com.

singular.

No s on the end that somebody else.

If I had to do it over again, I would have bought both domains.

Yeah, we didn't think of that.

We never thought about that.

So node investor.com and we so look forward to seeing you out in at the Paper Trail conference this fall, Chris.

So thanks for hosting it, thanks for.

Listening this episode, and friend Tracy, thanks for joining and we'll see everybody in September.