Nov 28th, 2019
What you’ll learn in just 17 minutes from today’s episode:
- Know how to create owner-financed notes
- Discover the marketing strategy he did when he was starting and what he should have done differently
- Learn the common mistakes that newbie note makers make and how to avoid them
Brad Smotherman is a real estate investor and mentor who has done over 400 transactions across 16 states. He specializes in creating owner-financed notes. Today, Brad runs and manages a 7-figure flipping business and holds notes across Middle Tennessee. He invests in multiple states, and currently, has houses from Michigan to Georgia.
What are the odds that you woke up one day and decided to do something that would change your life forever? Brad did and got his real estate license at a young age of 17 when his buddies were just thinking about partying! And when the crash happened, he pushed himself to learn about real estate investing, and specifically about creating notes for passive income.
Brad has tasted success and is now an accomplished investor and mentor.
But with every success story comes the inevitable mistakes and profound learning experiences on this episode of Property Profits Real Estate Podcast, Brad shares those. Learn from him as he also gives insightful advice to newbies and advanced investors alike so you that you can side-step the mistakes he made.
01:26 – Brad recalls getting a real estate license at 17 years old
02:22 – How he learned about creating notes
03:58 – Explaining further what wraparound note or wraparound mortgages mean
07:53 – What he would do differently if he’ll start over again in real estate investing
10:09 – His marketing strategy when he was starting
11:33 – The common mistakes that newbies are making with creating notes
13:02 – What Brad did to help him make the right decisions
14:42 – Advice for people interested in trying creating notes
15:52 – How to connect with Brad
“If you were starting all over again, the first thing that I would do is I would have created a negotiating platform that allowed me to have a system to go from the front door to the equity position every single time. It’s about the process.” – Brad Smotherman
“Begin your marketing machine. Earlier, I was cheap on my marketing side. I looked at marketing as an expense as opposed to an investment, and now I know that it’s not. That’s the one thing I can’t spend money too much money on is the marketing that’s efficient.” – Brad Smotherman
“Fill your mind with positive material, whether that’s books, podcasts, generally inspirational movies. It even came to the point that I would fast from any traditional music. At the end of the day, we have to be cognizant of what’s around us than what we’re allowing you to remove it.” – Brad Smotherman
“Find a mentor that has been down the road that you want to go. If I hadn’t had my mentor, I’d never have accomplished what I’ve accomplished. They can take years off your learning curve, and not only that, you’re going to avoid a lot of the mistakes you would have made, which is just as important, if not more.” – Brad Smotherman
“Everything starts with a motivated seller. So, if we’re able to create motivated seller lead flow, then we can figure out what direction we want to take, whether you want to be a rental guy or do you want to be a note guy, or you want to be the flip person or, or whatever that is. We have to have motivated sellers. So, learn how to lead generate.” – Brad Smotherman
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