GUEST: JEFF WATSON
Jeff Watson is a powerhouse attorney specializing in the laws and regulations affecting the note business. (He also happens to be Eddie’s personal attorney!) Jeff is one of the most highly sought-after attorneys in the country when it comes to Self-Directed IRA Investing. Jeff spends much of his time teaching & attending events and representing real estate investors in Washington D.C. In today’s NoteSchool TV episode, Jeff shares his thoughts, expertise, and experience with the biggest note industry event of the year, NoteExpo.
The ever-evolving laws and regulations swirling around the real estate industry and investment world can be extremely complicated for the note investor to navigate. If you’ve ever wondered who Eddie Speed relies on to provide legal guidance, today you’ll find out. Our special guest is Eddie’s personal attorney, Jeff Watson. Jeff will also be speaking at NoteExpo.
Eddie and Jeff were first introduced at a note convention back around 2013. They quickly hit it off and have had a solid working relationship ever since. Jeff has helped guide Eddie through many complicated deals and a maze of legal regulations, and Eddie hasn’t had to spend a single night in jail yet! Jeff is also active in helping lawmakers in Washington D.C. make better laws that are more favorable to entrepreneurs in the note space, and you’ll hear an important announcement about his progress in today’s episode.
Since you can’t make money in a vacuum, both Eddie and Jeff place a huge emphasis on relationships to run their businesses. When you do business with the highest caliber business associations, it has a way of improving your own performance. And naturally, you can’t talk about building a solid contact base without discussing NoteExpo, the note industry’s premier note event held every fall. Jeff describes the very first NoteExpo he attended around 2015, and he’s been going every year since. Not only does he make excellent business contacts to grow his network, he also gets to hear a powerhouse lineup of speakers who know what’s around the corner way before the big data gathering services can analyze and publish their results.
You’ll also hear Joe Varnadore give his weekly update on the most important news items affecting the real estate industry, and he has some surprising headlines to share.
2:12 | Joe Varnadore gives us latest news. Pending home sales dip, but supply is short. Lately, 27% of buyers are waiving the appraisal and inspection. More and more people are flocking to Florida.
5:15 | Joe introduces Eddie Speed, who brings on today’s guest: Jeff Watson (who is Eddie’s attorney). Jeff mentions two things going on in today’s market. The eviction moratorium is over. And the house resolution “The Affordable Homeownership Act” has been introduced, with help from Bob Repass. It will eliminate many of the burdensome requirements that Dodd Frank imposed on small seller financers.
10:40 | Eddie and Jeff talk about how important it for note investors to be at NoteExpo ever year. This reveals “how the waves are breaking on the beach.” Over 4.5 million mortgages aren’t making payments. (And two thirds of those are delinquent and not in forbearance.) Millions of tenants are behind on payments to the small landlord category.
15:15 | Eddie says Jeff is one of the most creative real estate finance attorneys. He comes to NoteExpo to figure out what was going on in the note space, and being at NoteExpo was the fastest way to learn. Jeff shares memories of previous NoteExpos and how much they helped him.
19:20 | Introducing this week’s sponsor: NoteExpo 2021.
20:22 | Jeff shares that what he is looking for at this NoteExpo is to get information as to what is really going on in different markets. It’s where you learn things before it shows up in big data companies. He also expands his network of contacts. It shows him where the market is going next.
24:50 | Jeff describes how seller financing can have a bigger voice in Washington DC. We’re trying to simplify and make home ownership more accessible.
27:10 | The Mortgage Bankers Association generates the monthly credit availability chart. It’s shows that 35% of well-qualified people who want to buy a home can’t qualify through traditional lenders. Seller financing fills this void!
28:46 | Joe and Brian come back, and Joe describes the caliber of people (like Jeff) who will be at NoteExpo. Jeff mentions that he will also be a speaker, and there will be people from all facets of the industry.
31:00 | Brian introduces a 1-Day class: “Gold in Notes.” It explains partials, non-performing notes, and many more important topics.