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
