010 - Give Up That Monotonous Task

2 Wealth Show S3 Ep10 - Give Up That Monotonous Task

On Episode 10, Justin and Elizabeth interview Chris Seveney.

Key Takeaways:  

1. Commercial Real Estate
2. Housing Shortage
3. Virtual Assistance

 Resources and links discussed  

• Videocast on BrightPath Notes YouTube Channel 
• Videocast on Elizabeth Maora YouTube Channel 
• BrightPath Notes Website - https://brightpathnotes.com 
• Elizabeth Maora LLC Website - https://elizabethmaorallc.com 
• Chris Seveney - https://7einvestments.com

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About the Hosts 

Justin Bogard – Note Investor specializing in performing Residential Real Estate Debt. He finds deals and acquires them for his own portfolio as well as educates investors while walking them through the process of owning a Real Estate Note!  

Super E – Real Estate Investor specializing in short-term rentals and the management of them. She connects investors with short-term tenants and manages everything in-between.

Connect with the Hosts: 

• @2wealthshow – Facebook/Instagram 
• @wealth_show - Twitter 

Transcript

Justin Bogard: 0:06

[inaudible] Welcome to the, 2 wealth show a show that shares how you can create real wealth for you and your family. I'm one of your hosts, Justin Bogard. And my co-host is Elizabeth Sickles. AKA super E. I am a real estate note investor specializing in performing residential real estate debt. I find the deals acquire them for my own portfolio, as well as educate investors while walking them through the process of owning a real estate note. My co-host super E a real estate investor specializing in short-term rentals and the management of them. She connects investors with short-term tenants and manages everything in between. Our show was sponsored by bright path notes and Elizabeth Maora. You can find out more information by visiting our websites at brightpathnotes.com and elizabethmaora.com. Super E, how are you? I am doing great. Stop spending money, spending money, not my money, right? No, it is not taxpayer money. Okay. Let's say, what are you getting into now? We have five houses we're furnishing right now. So you are a lot of shopping. It's a great thing. I should have hired you when we were remodeling our house last summer, just as furniture for us, how would we make it very easy, very easy. Very affordable, right? Yes. And how are you today? I am doing very well. I am excited again because I have another fun interview today that we're going to do. And it's, uh, all my friends that I've learned to get to know in the note business, his name is Chris 70, and this is episode 10, by the way. And those of you that are listening to this podcast, we do film this as well. It's on our video channels, Brightpath notes, YouTube channel or Elizabeth Maora's YouTube channel as well. So they can see Chris and his cool set up. Um, I always, I don't do a lot of good intros for our guests and stuff. I just get too excited to bring them on. So I'm going to bring on Chris right now. Hey Chris, how's it going?

Chris Seveney: 2:19

Good. How you doing Justin Elizabeth? How are you

Justin Bogard: 2:22

Doing good, my friend, thanks for taking the time to, you know, get on our podcast today and, and get to talk about you today, Chris.

Chris Seveney: 2:32

Uh, I don't have much to say about me, so, but I'll come up with some stuff I, before I hop in, though, I just like to mention Elizabeth, if you really want a challenge about furnishing some properties, you know, as we take back, our egos is a lender in the note space, we got lots of properties that could be a challenge for you to try and furnish these properties. You know,

Elizabeth Maora: 2:53

Absolutely. You'll be going all over the country to actually expanding. So it's a good thing.

Chris Seveney: 3:01

Okay. There's a lot of things. People live in these properties, which we can talk about a little bit on this show, but, uh, again, thank you both for having me on today. It's a pleasure and, uh, glad to be here,

Justin Bogard: 3:11

Chris. One of the interesting things that, to me that stands out, um, when I think about Chris Seveney is your last name Seveney and I actually didn't know how to pronounce it. At first, when I, when I first had heard about, you know, being in the note business and you hear about certain note investors and doing certain things, like how would you say that name? And then I saw the entity that you have is, uh, Seveney investments. And I was like, Oh, that's how you say it, Seveney. Is this other great play on how you made a company out of your last name? So,

Chris Seveney: 3:41

Yeah. And it's interesting cause that's how I, easy way to explain it. I still have a lot of people butcher it, believe it or not. But when people ask like how you pronounce it, it's unlike, or I'll get a call like three weeks later from somebody or text and be like, ah, I get the name of your company now randomly out of blue and uh, you know, as a little chuckle to it.

Justin Bogard: 4:00

Yeah. So that's, if you guys want look up Chris, uh, one of his websites is seven. the number seven, the letter E investments.com sevenEinvestments.com. So Chris, I know that you have a full-time job right now, and I know that you run a note business as well. Like I do Chris. I don't know how I would have time for W2 jobs. So I want to, I want to know w what do you do besides run a note business?

Chris Seveney: 4:26

So I work in a commercial real estate for developer. I oversee all their, uh, construction development in Washington DC area. So it's company that, uh, family owned company, uh, run by three brothers. Uh, they own a multitude of office retail multi-family properties. So recently a few years ago we built a 284 unit brand new apartment building. Uh, since that time, uh, I've been doing a lot of renovations on buildings, upkeep. Uh, they're very, very big in sustainability. So a lot of solar projects I'm putting together two projects right now, that's about one megawatt of solar, which, um, you know, on a typical house here, like I think 10 kilowatt. So we'll take that by now 1000 or a hundred thousand, whatever. So big, big, uh, projects, um, from that perspective. Uh, so yeah, that's what I do. And you know, the balance that and manage it. It's all about organization. Like, you know, right now basically, uh, I usually take my lunch breaks, uh, and try and eat quick and, uh, network with people like we are right now.

Justin Bogard: 5:27

So we'll keep eating into your lunchtime. That's how much you sacrifice to be on this show. I love it.

Chris Seveney: 5:32

I went through the early this morning, so I'm good.

Justin Bogard: 5:36

You know, Elizabeth, the other thing I like about Chris is, uh, Chris and I talked last week, or it was two weeks ago, but some, you know, we're doing some collaboration on some other things and it was getting close to the end of our meeting. I was getting ready to run late. And I said, uh, you know, I know you've probably got to get off here. And he's like, yeah, I promised my son that I would have lunch with them today. I said, that guy is an awesome Guy. Awesome dad. So you got to know how, how busy you are and to say, Nope, I'm stopping work. I promised my kids something, I'm going to go do that today, five 30, we've got basketball and then going for a walk. So, you know, we know it's like anything, you plan it, you set the expectation for the day and you just work towards it. Uh, so that's, you know, with anything in life, that's what I found is if you schedule it, you'll stick to it. You know, whether you're going to the gym, which a lot of people have, you know, I struggle with, you know, we'll put it on a schedule and it's like, Oh, it pops up. You're almost like forced to do it. Whereas if it's not on a schedule, it makes it a lot more challenging. I couldn't imagine writing out a planner by hand nowadays when I can use my outlook calendar or whatever I have for my calendar. I don't know. My handwriting's poor enough as it is. Elizabeth probably already knows that. So everything I have to have on that calendar, but you're right, Chris, I'm the same way. Like if, if my wife doesn't put something on the count, I'm just like, I didn't hear you say that. That's not on the calendar.

Chris Seveney: 6:56

That's what I tell everybody. It's not my calendar. It doesn't exist. Yeah,

Elizabeth Maora: 6:59

That's right. And Chris, can you talk about, we'll get into the notes and just a second. Can you talk about where you guys see commercial going, especially, you know, everything that's happened that starting last year

Chris Seveney: 7:12

Commercials, you know, in interesting times right now, uh, especially, you know, in a Washington DC area, I can talk specifically in a nationwide as well. You know, the office office market's struggling. I think right now only about 20% of, uh, office workers are actually back in the office right now in the Washington DC area. So what you are seeing is, uh, a lot of tenants, uh, who have leases that are expiring. A lot of them are looking to sometimes somewhat downsize a little bit because they're realizing that there's more flexibility in the, uh, telecommuting space, um, to allow them to do that, uh, from that perspective. Uh, and I don't think, you know, we're going to have any type of major crash because of the availability of money that's out there. Uh, from that perspective, uh, in reality, the office markets aren't struggling as much as people would anticipate certain areas, the restaurant and that type of food service, uh, you know, is struggling a little bit. But what we're now seeing a lot on the commercial side is as businesses actually starting to open up where they're struggling is finding people to hire actually, uh, from that perspective. So there's still a good availability of jobs, and who's also going to be, uh, once, you know, things really start to open up more. There's so much pent up demand for people just to go out and like get out of the house and whether it's each shop, whatever it is. Uh, there's a lot of that as well in the day though. I mean, it's very difficult to predict, uh, what is going to happen. There's so many outside influences on micro and macro economic issues, uh, certain areas I'm sure just like a decade ago, won't be hit as hard as other areas of the country. I'm sure we will see areas get hit hard or harder than others. Um, you know, do I still think, continue to see this boom that we've had and a lot of just all markets over the last several years? I don't think so. I think eventually that's going to slow down a little bit, uh, but you know, again, it's, it's really tough to predict, uh, from that perspective. Uh, the one thing I will mention though, that we, um, are seeing, and this is kind of what plays into it a little bit is new construction on a commercial multi-family is almost at a stand, you know, and our market is almost at a standstill because of the pricing of products. Steel is up about 40%. Lumber, as many people know is up several hundred percent glass and aluminum are very expensive right now. It's not really feasible to, to underwrite a project right now that you can actually, you know, go to a lender and say, Hey, lend on this because the numbers don't work. And what that's causing is, you know, the lack of building there's, again, we're already at a housing shortage, so it just keeps that competition. So it's that difficult balance that we're featuring right now of, you know, the high prices and the low, you know, low availability. How is that going to pan out? And it's, uh, like I said, going to be interesting to see how it does pan out next few years wish I had a crystal ball. I think we all wish we had one starting about probably, I don't know what 20, 25 years ago. Right? Yeah. I'm not sure about you, Chris, but uh, some of the mentors I have in the real estate and the note business, they've, they'd never seen really a time like this, and it's just, it's just kind of interesting how, when you're in the real estate world, uh, how unique every, every cycle is in real estate.

Justin Bogard: 10:33

And, um, we may never see something like this or experiencing something like this that we've had in the last year and a half with real estate and the pandemic that's come across. So yeah, I mean the notes Bates is very similar to other aspects. It's lot of things nobody's seen and it really comes to, you have to adjust, you know, you can't just, you know, have one focus area or business plan and think that's how things are going to go. It's like anything in life it's going to go off course. And you just got to be prepared and know how to manage it and, you know, work your way through it. You definitely can't be a one trick pony that is for sure. Unless you've got, unless you got a lot of money, then yes, you can be a one trick pony. Um, if you wanna have a lot of funds that can be conservative with,

Elizabeth Maora: 11:18

Are you seeing any new builds? I mean, despite all the economic impact from everything, but are there new builds going on right now in the DC area?

Chris Seveney: 11:28

Uh, besides Amazon HQ, which is actually, uh, you know, something coming onto the area? Uh, not, um, no, we're not seeing a lot and I deal a lot with architects. So they're the, usually the people want to talk to about what's going on with the economy. And this is a little tidbit. I'll give people because you gotta remember architects have to go to go through four sets of, you know, they've got go through design development, construction drawings, and everything. They got to get through all that before it gets permitted. Um, and they'll spend the eight to 12 months doing those drawings. So if the architects are slow with putting drawings together, if they're not already, shovel-ready, uh, that's a signal as well. And talking with a lot of architects and other contractors who I, again talk with on daily basis, they're seeing a lot of, uh, discussions with developers back and forth on, you know, viability, feasibility, we'll get pricing, some, you know, estimates on some projects and stuff who I talk to them. Most of them are just saying, you know, great, thanks. We've got the estimate and we're just going to put it on the shelves for the time being, uh, I think absolutely until the dust settles with COVID and things start really opening up more. But even at that point in time, I still think you're going to see a dust collecting on plans that are out there because of the significant impact on the price of the material pricing increase and the lack of labor, which also increases the library.

Justin Bogard: 12:56

Absolutely awesome. Chris, how did, how did you get into the commercial real estate space? And by the way, I'm not sure if you were in the note space before then or after you got into commercial real estate, but can you expand upon that?

Chris Seveney: 13:08

Yeah, so I got into commercial real estate, so I went to college in a civil and engineering degree, graduated in the mid nineties. Uh, then out of college, started working for a large general contractor up in the Northeast, up in Boston, where I grew up in Massachusetts. Uh, so I did that for 10 years. Uh, and again, I was overseeing, you know, office retail. Residential really depends on the timeframe of things. And then in 2008, um, perfect timing, I guess. Uh, I had moved down to actually, I moved down to Washington DC because at the time, uh, you know, the joke was Washington, DC was a proverbial only gas station open, uh, in construction because nobody was building. So our company had an office down here. Uh, I came down, uh, to assist a lot on the operational side of systems and getting people to fall a lot of these standing operating procedures. So after I did that for five years after I did that, I went and went to go work for a local residential developer that did large scale townhouses and multi-family, uh, so I oversaw a project that was 60 high-end condos for them that were started around, you know, million plus up to 5 million. And that's when the person I was working for at that time. Uh, he was very entrepreneurial as well as the whole company. So he had rentals, you know, out in San Diego and everywhere. And he's like, you know, you gotta get your own, you know, your own portfolio. You know, you're never going to be able to retire on this. So my wife and I, we built our single family residence. Uh, we acted as general contractors. So we had great equity, took some equity out, went, bought two rentals. Uh, and then with the kids and everything, it was impossible to scale, especially in Washington DC area. It means you'd have to buy off market. You get a call right now on your phone. If you're not at that property in hours, get on their agreement. Somebody else already has so physically pretty much impossible scale. And then on bigger pockets, I just, uh, stumbled upon note investing. I was like, Oh, what's this? And this was in 2016. And then, uh, it's been about six months researching note investing, uh, pulled the trigger towards the latter part of 2016, uh, bought a few notes in 2017 and then kind of in 2018 is when now I have the proverbial explosion of buying, you know, 50 plus notes a year. And now I'm probably on average buying 150 notes a year right now. Wow.

Justin Bogard: 15:26

That's a lot of notes, especially when you're not doing it full time.

Chris Seveney: 15:30

It's the one thing I'll mention about that because people do ask and you asked that earlier, uh, you know, systems, uh, I've spent, uh, you know, tens of thousands of dollars on software systems and it's the same system services use. And the way I look at it is I could go hire somebody for 50 grand a year, or I could go spend. Now I'd probably spent 30, 40 plus thousand on software, um, that really replaces that person. And it's, you know, a one-time cost with some monthly maintenance on it, but it's a lot cheaper than having a full-time person, but also in the same token, if you have somebody and they leave, then you have to go through, train everyone again and so forth. So, uh, you know, the way again, I think little bites at it, I have it set up where I go through about 20 minutes a day, first thing in the morning, I'll spend an hour go through those 20 notes. And, uh, you know, it's a hundred notes a week, um, then onto the next one, uh, the next batch. So when you break things down into smaller sizes, uh it's, you know, it's easy to manage and most people don't understand too, with notes, if they're paying, there's not much, you have to do you check it, did they pay great if they didn't, you still have to wait anyways, till they get behind. So it's not like you're spending hours on end trying to manage yourself out of a situation. Right.

Justin Bogard: 16:45

It's not as easy as Chris put it, but yeah, dumbing it down. That that's basically what, Oh, trust me. Yeah.

Chris Seveney: 16:51

It's not easy. And the people who do sell it as being easier, passive, it's not. But I also see, well, sometimes take it to the other level of, they make too much work for themselves. Like, you know, they'll go chase a borrower down and spend all this time and effort trying to find somebody, you know, whether even if you're trying to Google them on Facebook, LinkedIn, or all these places for me, if I set a certain time of, I don't hear from them, then it's like, okay, Mr. and Mrs. Attorney, let's send a demand letter and then, you know, go from there and then you'd have to wait another 30 days. So it's kind of just processes and setting the clock.

Elizabeth Maora: 17:26

So do you have any help at all in that space, Chris? So,

Chris Seveney: 17:32

Yes. So I have a virtual assistant who does a lot of, uh, assistance with me where, you know, for example, on due diligence, I'll take a bunch of the reports that I order. And then she'll put the information on a cover sheet for me with all the backup attached. So that saves probably each, each loan has probably saved me 30 minutes for the work that she does, uh, is I update my notes in the system. I can flag emails that automatically tag her and she knows where to put them into my system. So it's a lot of the, um, the, you know, I'll say the monotonous tasks are many administrative tasks I can do. Uh, I do have a podcast and do marketing as well. I have somebody specific for marketing on that aspect as well. So I focus more truly on managing the business and managing the assets, all the bidding. I do all the bidding, the due diligence, like I'll do the due diligence, but again, I have people put reports together and then I also will check to make sure because they include the title report and the backup, you know, I've got the cover sheet by, so go through everything as well. And now that's what I do late at night. I'm not a big TV person, uh, from that perspective. So my wife goes to bed at nine 30, 10 o'clock at night, I'll stay up til 11, 1130, uh, going through stuff. And it's nice and quiet. I don't have, you know, the kids, you know, running, asking for this or that or so forth as well. So it's, here's your time to actually spend it in focus.

Justin Bogard: 18:57

Wow. He's uh, Chris is rejuvenating me within your story. I think I'm missing out on a few hours. I could have, I could have burned from daylight looking at some other notes, not realizing that I had a system in place, Elizabeth. Yeah.

Chris Seveney: 19:10

And you know the thing too, again, with the, like the virtual assistance, you know, they're, you know, they're overseas, you pay them four to five bucks an hour, which is, you know, where they are, that's decent money, uh, and you know, you get them trained and you just got to, again, set the expectations of what you want them to do and, you know, start, you know, giving them the tasks and increase the load as it goes on. And that's what I did. And now it's worked out great from that perspective.

Justin Bogard: 19:36

Sorry, Elizabeth. I was going to jump in here, Chris. I think that's where a lot of entrepreneurs, they fail. A lot of people starting up a business fail is they're so afraid to give up that monotonous task, thinking that someone else couldn't do it as well as they can do it. And I was kind of one of those persons as well until I started having virtual assistants, helped me with certain tasks. And I realized, why was I so hung up on that? They actually do it faster and better than I can even do it. And then they come up with a more efficient way that I never thought of to do it because I was too worried about the six or seven other things that I was wanting to get to. Right.

Chris Seveney: 20:08

That, and here's the reality of it too. Even if it took them three times longer to do it than it would take you, you know, you look at the cost benefit. I mean, from that perspective, I was the same way. It took me forever. I didn't get a VA on board til some point probably towards the end of, you know, middle to end of last year. Uh, because again, I was the same way. I'll just do it. It's easier for me to do it. And then the other thing too, is I outsource pretty much like everything, uh, no collateral recording, uh, you know, storage of collateral, which some, I do store some collateral, but, uh, you know, everything that can be outsourced. I typically I'll outsource. I don't like to do anything but manage and tell people, this is what I want done. Um, you know, I help with like my VA and simplify E-record documents, she'll upload everything in there and get it ready to hit submit, but I'll just go in and just, I just want to check and make sure she didn't include like an alonge or something along those lines that shouldn't be in there. But for the most part, um, now I get them, everything's set up to a certain point and you know, then kind of I'll finish the task or take it from there, but you're right. It's very challenging for entrepreneurs, one to commit to spending the money, but then commit to giving up that task because most of us are control freaks, including myself. Yeah.

Elizabeth Maora: 21:26

So we have two VA's and they do all of our guests communication. Now they have been fabulous. Absolutely fabulous. I've been super impressed with them. So if anybody's kind of hung up on it, I would definitely encourage you to move forward.

Chris Seveney: 21:41

Yeah. The one thing I'll just mention about VAs and kind of all over the place here is be careful what you do give them, um, and make sure they understand, because I've seen also people on some communication note space, uh, you know, have their VAs reach out to, um, people, you know, larger funds in other people who sell notes and I've gotten those emails from people and, uh, you know, it's w it clearly wasn't checked for, um, you know, the writing to make sure it was, you know, clean and proper grammar as well as sometimes I get phone calls and I'll get to, you know, somebody and I'll ask them a few questions and they're like, well, let me get this person. Let me get this person. It's like, if you're calling me it, that, that, to me, that's a turn off in the same. And so, uh, you just want to make sure you understand when you're using them, use them to the best benefit. You don't want to put them in a position that they're going to fail in, or also make you potentially your company look a little bit unprofessional as a great point. I've been getting some phone calls every now and then from people that may have been a connection on LinkedIn and noticed that, you know, I'm in real estate or I buy notes and they're like, Hey, I have this bank portfolio. I'm like, okay, great. And like, usually Chris, he asked them some questions and you realize they, they not really speaking the same language as you. And just like, okay, I'm not going to spend my wheels to get to the principle seller when I might not even get to them. So yeah. Or it's probably somebody that you already know exactly. Yeah. And that's the one thing with the note space, it's such a small industry, right. You know, I've got like, there's a tape that has, I think, bids due today on it, for example, um, performing loan tape that a servicer put out and I've got it from four different people. Um, I got it straight from the servicer and other servicer actually is selling it on behalf of another servicer. And then I had two other people who are, you know, the quote brokers, um, you know, send out like, Oh, here's a tape where direct. And I'm like, no, you're not, you know, anytime someone says they're direct. They actually aren't. Right. Exactly. Yeah.

Elizabeth Maora: 23:42

So can you tell our audience, Chris, what, the notes that you focus on, where is your specialty?

Chris Seveney: 23:49

Yep. So I focus on first position mortgages. Uh, so I don't typically deal with seconds, which are, you know, the lines of credit. Uh, so first position I'll buy performing in non-performing. So I'll buy loans where people aren't paying their mortgage and people ask, why would you do that? And the reason quick answer is because you get it at a substantial discount, no different than buying a real estate, a property that is in distress. You know, it needs work and so forth. You're not going to pay market value for it. You're going to get it at a discount. It's the same with, uh, a note from that perspective. Uh, another aspect I've invested in is what's called land contracts or contract for deeds. Uh, those a little more challenging. I know, you know, in the Midwest, they're big in that area. And, uh, you know, they're challenging. And the biggest challenge with them is especially the ones that get originated by smaller sellers. Uh, there's typically going to put the paperwork together properly, or, uh, you know, there's some title issues that they sometimes get passed on. So those, I would tell newer investors just, they're a little more challenging. I actually had an investor who's new to notes. She's bought, um, maybe a half dozen notes and was asking about CFDs. And literally when she was asking about I was on the phone with her, I got an email, um, from my servicer on a performing CFD that had, um, it was from the County because an inspector drove by and has all these violations. Um, and I just hit sent her and I'm like, here's what can happen on a CFD? And she was like, Oh, this is non-performing, I'm assuming I know it's performing. And what happens in my mind is these inspectors, look at the billing address and see that it's out of state. And I almost think a target out of state investors because I've had properties. Um, Fort Wayne, Indiana, I think is a perfect example. I had a property next to these two other properties. And my property that we had that we had taken back by no means was anything. It was awful, but the next two properties were just as bad. And they had abandoned cars and everything in the yards and stuff. I'm the one getting all these violations because the grass was too high and so forth, or the front, the light on the front wasn't working, you know, and the others were, you know, basically single family owners who, you know, I looked them up. They'd been in the house for, you know, 40 something years. So I'm guessing they're probably elderly as well, but it's like, you know, almost like I'm getting picked on. And literally it's like, you know, the, the, the, the front of the glass on the light at the front is broken, you know, Oh,$500, you know, or you fixed within two weeks. I think

Justin Bogard: 26:23

The LLC that's attached to the property is an endless supply of cash. And they figured they can milk it for whatever they can. So you're here, Chris.

Elizabeth Maora: 26:34

And what does CFD stand for,

Chris Seveney: 26:35

Uh, contract for deed? So the main difference with the contract for the end note is it's, it's almost like a car away. A car loan works. Um, the bar has a loan, but like when you get a loan for a car you're not entitled till you pay off the loan, a land contract or contract for deed is the same thing. Basically borrow has a loan, but their name's not on title in the county's office until they pay it off. So your LLC will be on title. And the County thinks that, Oh, this is an out-of-state owner. Then they start sending you the forms of, Oh, it's a rental property. You need to register as a rental. And then you try and fight that. And Detroit doesn't care. They just send you the fines, even after they tell you, they're not going to send your fines. Um, so is, uh, can be, like I said, a lot of, uh, head scratching, dealing with these, a contract for deeds

Justin Bogard: 27:28

As well. Well said, Chris, um, the question to you is off the topic of what we've been talking about is, do you have any books that you're currently reading or recommendations to our listeners? So

Chris Seveney: 27:43

One book, nothing, uh, right now. Uh, so let me step back. Uh, so right now it's not a book, but it's a program called mind Valley. Uh, and, uh, with that you look like you're aware of it. Um, my wife got it for me actually for our anniversary last year, cause she started it and it's 20 minute segments a day, just on pretty much anything in life. It's parenting, marriage, business, um, meditation it's run by this guy who's I think is from Philippines who actually, I think he bet a Harvard, a million dollars that he would take kids that don't go to college and kids that go to Harvard. And after like four years, there'll be, or six years there'll be more successful through his program and through a college because it's real life experience. And he's got some pretty big, heavy hitters who teach these programs. Uh, and there's one, for example, on networking and raising money, that was really extreme. It was awesome actually, uh, in the program, I want to say it's like four to 500 bucks a year, so it's, you know, 40 bucks a month. Uh, but I found that to be, uh, I love it. And the other thing too is I'm not a big reader. I like to listen, but I have an intention span of actually humans do have, I think, a shortest expense attention spans now of any creature. So I pretty much, I set the bar at that because you know, I've got about a half, a second attention span. Um, so that's, you know, I'll mention one thing that I'll mention back for, um, no note investors is, uh, I also, um, was starting note investing. I was, uh, actually getting a master's degree in real estate finance and it was a textbook that it's like 600 pages it's really thick. Um, and the author's name is Brueggeman B R U E G G E M a N, I believe. And it's a book about real estate finance, but he's got like three chapters in there on notes and basically understanding notes, how to calculate like yields, understanding the yields kind of, you know, and for them there's a lot of books out there now that kind of just share some stories and so forth where this actually goes into the, you know, the schooling behind it or kind of the real, you know, rolling up the sleeves and understanding how to implement some of these processes into your business that I found, uh, I was going through. That is why I was taking my class as well. I'm like, wow, this is actually awesome. Um, so, and I think, I mean like anything now, it probably on like the 16th edition, but I think like the 14th edition you can download for free and I'm sure it's probably the same, except maybe they just change a year. Um, so I just kind of want to mention that. So that was called mind Valley mine Valley program. Okay. We'll put that in the show notes for this episode. Um, Chris, thanks for being on our podcast today. This is episode number 10 with a to wealth show. Elizabeth, do you have any closing thoughts or any less last minute, rapid fire questions for Mr. Chris 70?

Elizabeth Maora: 30:39

I would say so you gave us a lot of good tidbits. What's your number one advice for productivity

Chris Seveney: 30:47

Again, scheduling and stay focused. Uh, for example, you know, email is everyone's worst enemy and you'll be in the middle of something. You'll see an email come up and I still do this. And like right now I can see, I got 11 emails in my inbox. That's up on my screen. You got to close it out. Sometimes when you're trying to focus on something. And a lot of the things I read nowadays are you should check email like only several times a day, uh, and be more productive. So I think that's really one of the major aspects. And then the other is kind of what we talked about. Delegating tasks responsibilities. If you have the ability to do the other people based on the value that they can provide to you versus what your value is. That's awesome. Thank you, Chris. Thank you again so much for being on our podcast today, everybody. This is episode number 10. Don't forget to check out the video feed on the bright path notes, YouTube channel or Elizabeth Maora's YouTube channel as well. I'm Justin Bogard with BrightPath notes.

Elizabeth Maora: 31:43

I'm Elizabeth with Elizabeth Maora.

Justin Bogard: 31:46

All right, Chris, do you have any, you have any information that you could pass along to our listening audience to get a hold of you? Yeah. Uh, best way to get ahold of me is go to the website 70 investments.com. Uh, and you can learn more about 70 investments. Also some of the investment options we have for accredited investors. Uh, we have several funds that we manage as well as for people interested in getting into notes. We are getting ready to launch a new membership site that we're excited to do, uh, in the coming week. So it's, uh, information for people to learn more about the business. Awesome. Chris we'll we'll see you next time a friend. Yep. Thank you for having me. Bye everybody. Thank you. Well, the 2 wealth show was produced by Justin Bogard and super E sponsored by Brightpath notes and Elizabeth Maora thanks for listening and watching for our show.