Brian Launcher:
Well, we are back in the after-party here and it's always nice to, not just have Richard, but we've got all kinds of people on here. Thanks for the great content, man. Thanks for saying that. We really appreciate you joining Albert and participating, Ryan and Jenny. It's great to hear from you all as well. And so we've got a lot of people on and we'll kind of go through some questions, but I thought I would kind of kick things off by looking at some of the content Richard and people want to better understand this avatar thing you mentioned at the beginning. Like, why did you create this avatar? I know you said that you, you've NoteSchool's the one that kind of trained you in how to figure out who that is, but why is this avatar the way it is? How did you come up with that?
Richard Thornton:
Hmm. Well, it was the lowest hanging fruit in a way. And I was of that category. So, it was people that I could deal with. I have to say that I've had to spread it a little bit more or increase it, Brian. The more I've gone online, but what does that mean? That means that the income requirements have stayed the same in the savings requirements, but the crowds are becoming younger. I'm getting more and more 35 and 40 year old investors who are just calling me because they see my stuff on YouTube and they have,
Richard Thornton:
They come to me educated, which I think is interesting.
Brian Launcher:
Yeah and one of the things that's really fascinating about that comment is there's a whole new group of investors who just got an education in what owning a rental property is really like. And this burnout landlord category that we've been talking about for months now is just, it's that perfect person that's going to fit that avatar. Right? And so our audience is actually growing as well, as this situation develops in our country. Right? Joe, are you going to say something?
Joe Varnadore:
Yeah, go ahead.
Richard Thornton:
Well I was just going to say is, one of the things I like to ask people in a nice way is, how long did it take you to determine that your passive income wasn't? It wasn't passive. You were doing a lot of work to generate that income from your rental. Go ahead ,Joe.
Joe Varnadore:
Well, and you know, I hope everybody got the point of all of this. So Richard buys a note for $31,000. He sells a piece of it and makes $3,000 in today money, but, and he's got all of his money back, right? He's got every dime of his money back $3,000 in his pocket. Then he has 126 payments, almost 12 years out that he has $0 in of $348 a month that you know, that in itself is amazing. And I just want to make sure everybody got that. And our good friend Melvin is on today with us as well. He's a good friend of you, a brand new NoteSchool student Mel.
Brian Launcher:
Yeah. And there's another comment from Ken George. And I want Eddie to answer this because I know how Eddie's going to say it. And I just love to hear it. But Eddie, Ken wants to know, do you have to have a mortgage license?
Eddie Speed:
Yeah. So if I'm going to buy a note, if I'm going to buy a note and sell a note, I'm not saying that I'm going to broker a note or flipping note, Richard's in the state of California. And if you do more than eight a year, you are going to need a license to flip notes and make fee income. But if you're going to buy and resell well, Brian, I've got a driver's license and a fishing license, but I don't have a note reselling license.
Brian Launcher:
Yeah. The first time I heard you answer that question. You said you needed a driver's license, a hunting license and a fishing license. And these last two are optional.
Eddie Speed:
I got to be politically correct. I do have a hunting license, by the way.
Brian Launcher:
Yeah. I love that. And obviously, we've even got people chime in, in the comments as well, even answering the questions for us as well. Bumbling Bee Homestead even says, NoteSchool is worth every penny, if you want to learn how to do note investing. That's awesome. Obviously to hear and that's, I mean that's very encouraging, right? To have you jump on here. Another question here, man, they're coming in so fast here, out of all the marketing sites as far as how you're doing your marketing, how are you generating these leads? You know, what are some marketing pieces that you could speak to?
Richard Thornton:
So, Albert, I think that's one of the interesting things that I have learned, which is I'm not really using any marketing sites. I've got somebody who posts for me on YouTube, Facebook and other social media every week, matter three times a week. But the biggest thing is to have my own channel for American North Capital on YouTube and have content up there and keep adding it and to put all the tags in there and the keywords. And as you do that, people will find you because there's a program called keywords everywhere, and you can download that for free. And there's a very simple process that you can go through, where you can locate what the key words are. You put those as tags in your videos, and then when people search for those, they find you and your videos show up. So, they're actually educated by the time they come to me, which is makes my sales process much easier. It's free. It doesn't cost you anything to have a YouTube channel. And so that's something I would recommend to people.
Brian Launcher:
Yeah, absolutely. And even Wayne Garrett on here saying that your website encouraged him to go out and take action, right? Create his own website. Exactly what you're talking about. Put in those little steps that are actually going to create huge leaps in your business. Aldo is also saying you know, this partial selling strategy and then rolling over the investment capital over and over is brilliant. It's the brrrr strategy of the note business, Eddie, you know, this thing you're teaching, it might be a thing. It might be a real thing.
Eddie Speed:
I like it although yes, that's what I'm wanting you to get the picture of isn't it? This is, the real deal that this business is rinse and repeat, you know, that is what Richard's doing. He's rinsing repeating. And so people think you got to have a zillion dollars to be in this business. You have to have a zillion dollar idea, right Richard? You don't have to have a zillion dollars, you just have to have a zillion dollar idea. We get paid the most in this business to be creative.
Joe Varnadore:
Yeah.
Richard Thornton:
Right. To figure out the pieces of the puzzle. And it's, that's one of the things I was trying to convey earlier, which is in my commercial business, the commercial businesses is fun and it can be very profitable, but there's not a lot of flexibility in this. And as you well know, there's a gazillion ways to solve one of the problems that come before us. And I liked that. I liked that juggling. And I like that flexibility.
Brian Launcher:
Yeah. I think a lot of investors, no matter how they got into the real estate space, we all really want the same thing. Right? We want the good pieces, right? The cashflow, the return on investment, but we want to take away the bad. And a lot of people just don't understand or they maybe they haven't been introduced to kind of what Eddie teaches in the fact that with notes, you can keep the good. And in fact, with what you're doing with partials, Richard, you get really, really good, right? But you don't have to deal with a lot of the risks that can come with the tenants and the toilets and that kind of stuff. And so it becomes this perfect storm that really allows the investor to say, man, this is what I got into real estate. I thought I wanted this thing, but really what I wanted was essentially what notes are, which is allowing you to keep the good pieces and pull away the bad. And that is a man that's a really, really big deal.
Joe Varnadore:
And by the way, Brian for our, the nice lady that was talking about the class, our next class is April 15th, 16th, and 17th. So that is a Thursday, Friday, Saturday, by the way, we know that. So,
Brian Launcher:
That's all.
Joe Varnadore:
Why don't we wrap it up and we'll call it a show.
Brian Launcher:
You got it. Well, Richard, Hey, thanks so much for joining us. I really appreciate it. It's always good to see you and the love kind of you sharing your experience. It's going to be encouraging, to a lot, on the, other note investors, Eddie and Joe. It's always a pleasure. Glad to see you here. We'll see you too next Wednesday. As we jumped back onto NoteSchool TV, and try to bring you note investors, the best content we possibly can. If you miss the show, make sure you go ahead and leave us a comment. Anyway, we're definitely going to follow up on these comments. If you're on Facebook or YouTube or something else drop a line to us. We'd love to connect with you, even if you miss the show. Otherwise we'll see everybody next Wednesday on the other side.
Richard Thornton:
Great. Thanks Brian.
Joe Varnadore:
Thank you, Richard.
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