Real Estate Nerds 57 | Asset Protection for Real Estate Investors : Royal Legal Solutions

Real Estate Nerds 57:

Bad Beats

"Nonperforming Notes and Sovereign States"

Scott Carson
Real Estate Investing Expert
Real Estate Nerds
Episode 57: "Bad Beats"

Listen to the Podcast Here:

In todays episode of “Real Estate Nerds”, the Scotts (Smith and Carson) meet together to talk about a ‘Bad Beat’ S. Carson encountered earlier in his career. Scott Carson has been actively buying notes on residential and commercial properties since 2005 but this one stood out as a particularly tough deal.

Nonperforming Notes and Sovereign States

Introduction and Scott Carson’s background

[3:00] Intro to the ‘Bad Beat’ featuring 11 notes in Chicago.

[5:10] Scott Carson talks about the trouble he had with evictions, including:

  • A gun being pulled on a process server.
  • A tenant declaring his dwelling a ‘sovereign state’
  • $250,000 in attorney fees

[9:13] Scott Carson talks about the lengthy legal proceedings involved with this deal.

[12:15] Scott Carson talks about how to maintain good relationships with investors and what repayment of investors looked like.

[16:00] Scott Carson talks about his 5 cornerstones of conducting business:
  • Buying first lien only
  • Below market value
  • Insuring the property
  • Proper paperwork/Legal assistance
  • Wire to a bank not to you directly

[17:38] Scott Carson talks about what his drive for wealth accumulation is and his passion for educating others

[19:35] Scott Carson talks about his goal to educate and create 10,000 note investors over the next 5 years.

[23:57] Lesson Learned

Listener Resources

Thank you for joining us on today’s episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook.

You can also text ‘royal’ to ‘474747’

…to get a link to register for webinars and download e-books or recorded sessions.

Don’t forget to subscribe to stay up to date and have the most current episodes of the Real Estate Nerds Podcast directly in your listening library. Every subscription helps us create new, custom content for you. What did you think of today’s episode? What would you like to hear more about in the future? Leave your thoughts and questions in the comments section below, or leave us a review in the iTunes store. We love hearing your feedback, so fire away. Join us again next time for another fascinating conversation. Thanks for listening and joining us on our journey to become better investors!

 

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Hosted by Scott Smith, Lead Attorney and Founder of Royal Legal Solutions

Schedule your personal consultation now.

If you have questions about our content or suggestions for future episodes or guests, reach our podcast team at podcast@royallegalsolutions.com

About Scott Carson

Scott Carson is the owner and managing member of Inverse Investments LLC, and WeCloseNotes.com a Austin based, defaulted note buying company. He specializes in finding non performing notes on residential and commercial properties and purchasing these notes for his portfolio. He also teaches Note Buying For Dummies, a 4 day workshop for investors on buying defaulted notes. He has been an active real estate investor since 2002 and purchase real estate all across the country. He also speaks on a regular basis on real estate investing, defaulted mortgages, short sales, marketing, and raising private capital.

Connect

Connect with Scott via his email and website:

  • scott@weclosenotes.com
  • Weclosenotes.com

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What Is Indexed Universal Life Insurance?

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Tax Benefits of Indexed Universal Life Insurance (IUL) Plans

There are three key tax benefits of IULs. First, you may pay into the policy with pre-tax or after-tax funds. Withdrawals from the policy may be made tax-free if you are under 59 1/2. Such withdrawals are regarded as loans, with your death benefit serving as collateral. Any funds paid out to the beneficiary are also tax-free, including normal benefits upon your passing. This is true regardless of their value.

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Regardless of where you are in the retirement planning process, Royal Legal Solutions an assist you. We have extensive experience educating investors about self-directed investment options. Many of our investor-clients love our Solo 401k information, product, and compliance services. Our Self-Directed IRA services can also be helpful for retirement planning, as the SDIRA is yet another vehicle that allows you to diversify and take total control of your investments. To determine which of the available retirement planning strategies are best for you, consult with one of our experts at Royal Legal Solutions. You may also contact us with any questions you may have about your options.

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