Welcome to The Accelerated Investor Podcast with Josh Cantwell, if you love entrepreneurship and investing in real estate then you are in the right place. Josh is the CEO of Freeland Ventures Real Estate Private Equity and has personally invested in well over 500 properties all across the country. He’s also made hundreds of private lender loans and owns over 1,000 units of apartments. Josh is an expert at raising private money for deals and he prides himself on never having had a boss in his entire adult life. Josh and his team also mentor investors and entrepreneurs from all over the world. He doesn’t dream about doing deals, he actually does them and so do his listeners and students. Now sit back, listen, learn, and accelerate your business, your life, and your investing with The Accelerated Investor Podcast.

Josh: So, hey, welcome back to Accelerated Investor, Hey, it’s Josh, and today I have a special guest for you, a really special treat. This is my friend. It’s an interview with my friend Eddie Speed. Eddie actually is a relatively new friend, although Eddie and I have known each other for over 15 years, we haven’t really sat down like this to talk for almost 30 or 40 minutes. Ever. I’ve talked to Eddie at the pass at live events. And we’ve shared some ideas with a lot of mutual friends. But this is a special treat for me, one, because it’s the first podcast that I recorded after the passing of my father. 

Josh: And two Eddie and I have known each of each other for years and I’ve never had the chance to sit down with Eddie and talk in detail. But Eddie, for almost 40 years, has purchased more than 40000 notes, both performing and not performing notes. He owns a company called Note School, where his executive team has bought over three point five billion dollars’ worth of notes. He’s one of the industry’s top teachers of buying and selling, both performing and non-performing notes. And he has even been inaugurated into the small balance real estate Hall of Fame. 

Josh: An amazing, amazing guy that you’re really going to love to learn about. Listen, notes is the underlying way that real estate is valued. The more, you know, more aggressive, the more favorable the financing, the more you can pay for a property, the less favorable the financing, the less you can pay for a property. So the financing absolutely dictates the price that you can pay for any kind of real estate, residential, commercial apartments, mobile home parks. It’s really, really exciting niche that I’m excited to learn more about. So I hope you enjoyed this interview with Eddie Speed. 

Josh: So, hey, Eddie, listen, I’m so excited to have you on the podcast, we have known of each other and we share a ton of the same real estate friends, but I cannot believe this is the first in-depth conversation that we are going to have. So welcome to Accelerated Investor. 

Eddie: Well, I’m excited to be here. And you’re right. I can’t believe that we’ve really known each other this long but didn’t really know each other. So I’m glad to be here today and good to get to hang out with you. 

Josh: Yeah, you too, Eddie. So, Eddie, you’re a note buying expert buying, selling, architecting deals to win over forty thousand nodes, three point five billion dollars’ worth of deal flow. Why don’t you tell us first with covid and this craziness that’s happened, the election is now behind us. There’s probably been some disruption in your business, maybe good and bad. I’m curious to hear what are some of the things that you’re most excited about going into 2021, even with all this covid business looming out there? 

Eddie: Well, you know, there’s really two sides of our business and really two sides of what I teach. Right. There is there’s creative financing, as you said, like how to go buy property and essentially pay a price that on the surface looks like you’re paying retail. Right. Which is obviously you’re not paying today. You’re paying them over time. 

Eddie: And a lot of people think that all that always has to be that the seller has to carry one hundred percent of the financing. And the truth of the matter is, that’s true only a very small percentage of the time. So you might take over some existing financing. You may structure like a private first or an institutional first and get the seller to carry a second. And now the idea is on that side, you’re sort of disguising the discount. And we do a lot of that. We help a lot of not just beginners, but as you know, the ninja guys. Right. And I train a lot of those guys to do that. And I believe in the house buying business or in the commercial business or multifamily, like in a in a price sensitive market. This is a way that you can sort of disguise the price. So that’s a one thing. And then the other thing which I’ve been involved in as the market has cycled is the NPL space, the non-performing loans base. And clearly it’s coming it’s real. It’s coming down the railroad track. 

Josh: No doubt. No doubt. So non-performing loans. So tell us about what are you seeing, what kind of data or market research or projections are happening out there? What do you think is going to happen in the next maybe one to five years in the market? 

Eddie: So, you know, what’s interesting is, is the last cycle, 2008, everybody focused on non-performing notes on only residential properties, only on houses. That’s the only cycle I’ve ever lived through, and I started in nineteen eighty, it’s only cycle I’ve ever lived that probably half of my wealth or maybe more than half of my wealth was on other asset classes, land, apartments, retail office, all of those things. And so clearly that sector is going to be more affected in the market to come than just in.  

Eddie: Josh, I talked to guys in the residential space every day to think, oh, well, there’s a shortage of houses listed in this. This thing is just a speed bump. It’s not even going to affect residential. There’s 10 million people didn’t make a mortgage payment or rent payment in the month of November. I mean, so understand there’s problem. But on the on the other side, it’s the case. And I know you’re a multifamily guy and it’s very interesting because when I talk to guys in the CMBS space or other spaces like that.

Eddie: And CMBS is commercial mortgage-backed securities. And so here’s what I think we’re going to see on that side, forbearance. And modifications and in any kind of relief is probably in direct correlation to the type of loan that is secured is on that asset. So if it’s a if it’s a Fannie Mae loan, if it’s a CMBS loan, if it’s a community bank loan, if it’s a, you know, insurance company loan, all of those are very different in how they’re going to treat it, because there’s one magic formula to buying non-performing assets. Its accounting, OK, lenders don’t sell loans unless they’ve already taken the hit on the books. Yeah, right. Unless they’ve already taken the charge down, they’re not going to sell you a two-million-dollar loan for five hundred thousand and lose and take a hit on their books of a million and a half dollars immediately. They have a charge down system. 

Eddie: And what’s happened is, is the big banks have already put in loan loss reserves eight times this year. They put in eight times what they put in the last five years. Yes. So it’s a wild number. Ibom, right. Right. And so a lot of the how you chase non-performing is going to be in directly relation to what that asset class is. There’s not going to be any non-performing loans. So is CMBS is I don’t believe, OK, there won’t be any modifications. You know, with the CMBS loan, you can’t refinance. Right. Right. So it doesn’t make any sense for them to do that. Now, at some point when that loan, you know, maybe they charge it off and they just sell it. But it’s not designed to be modified, whereas a who is a Fannie loan is very much designed to be modified. 

Josh: Right. Or assumed or have someone step into it. Those are very flexible that way. 

Eddie: Exactly. So that’s going to be like a key indicator that people are going to want to look for. 

Josh:So let’s talk a little bit about the multifamily market. Right. If you’re looking at my focus, going into 2021 is really on multifamily self-storage and mobile home parks because they fall a lot of them fall into that affordable housing kind of category, especially b class apartments, especially mobile home parks. But you’re seeing some cracks really in the A class apartments and some cracks in the C class and certainly in the low-income areas. But B class is held up really well. A lot of people are still paying the rent. People are still getting to work. There’s been some obviously some government assistance where hopefully that might be some more of that now that the election’s over. 

Josh: But if I’m an investor in that market and I want to add non-performing notes to my acquisition strategy as a way to buy more buildings or as a way to potentially buy a defaulted note and then acquire the building or just acquire the note at a discount, help me understand, where would I begin? Where would I start? 

Josh: Because I’ve got a lot of guys on my podcast that are multifamily investors that want a thousand units. Three thousand units, five hundred units. I’ve got single family guys that own one hundred units, a single family or duplexes, but not a lot of guys that approach it the way you do, which is to get the note in order to then either get a return on your money or eventually take the asset. So where would we start? 

Eddie: Well, the vein is going to be who owns the paper and what their accounting situation is, if they haven’t, as I said, if they haven’t charged down the loan, I can tell you you’re wasting your time, right? No, I went into a number of institutions, Associates B and one all in the nineteen nineties I was at I was at their office every month and for ten years. Right. The finance business. It wasn’t how many years you’d been in the business, how month and you’d lived it.. And I would go in there and say don’t show me any loan that you haven’t already charged down at least 40 percent, because I knew I was going to buy it at a haircut and I didn’t want to get there. And they go, oh, we don’t we don’t have we don’t have the recovery in this asset. We can’t sell it to you. I paid you top price. You knew I was going to bid this, but then all of a sudden they said, I can’t sell it. So I will tell you from many, many, many wasted hours. Approach it from the lender, can you afford to sell it? There’s no point in doing due diligence if they can’t take the haircut. Got it, so. 

Josh:So help me understand maybe a deal you’ve done or your team has done that would fall into that kind of space or maybe one of your students has done that is a defaulted multifamily asset, an NPL type of deal where somebody was able to either structure an amazing note deal or get a note and take the asset. And how did that deal go from start to finish for somebody, maybe one of our listeners that’s never done a no deal. 

Josh: How would that look, like step A. And I know your whole system would take hours to go through, you know, your coaching programs and your your webinar systems teach all that. We don’t have that kind of time today. But in a couple of minutes, help us understand how that would go. 

Eddie: So just think in terms of nonperforming, the industry is fairly close to a pawnshop, OK, asset value. The asset is worth this. They may owe this right. But the asset is worth this and then you buy it at a percentage of the as is asset value. So if it’s multifamily, then all of a sudden it’s like, what’s the occupancy? You know, the one thing that’s interesting in in all of these asset classes, but any form of commercial and certainly true in multifamily, because it’s been a very aggressive market as far as pricing is, they’re all affected by the NOI. Right. And if you have a 15 percent slippage in rent, then you have more than a 15 percent slippage in your NOI. Right. Your expenses are pretty much close to the same. The rent, the loss and rent is what gets you. 

Eddie:So you’re going to you’re going to run those numbers and just back into it. And I and I think the cap rates will go up, right? I mean, you know, who knows? There there’s arguments on both sides. People don’t have anywhere to put their money is one argument. And then the other argument is, is just every time I’ve lived these cycles and they’re sort of blood in the streets a little bit, investors tend to get a little greedier. So I think you can be smart and go get some opportunities in side. 

Eddie: First of all, you’re going to target on a lender that has a propensity to sell loans at a discount. OK, that is number one. You cannot go drive up to that apartment complex and say, I’m going to go find the lender, own that place. That is not how the NPL business works. You have to go find the lender and then look at the assets that they have on the books. 

Josh: Sure. So help us understand, how would we find those lenders? I know this is something you’ve been doing forever. 

Eddie: Have there hasn’t been any significant NPLs traded in in a dozen years? So I will tell you this. The big banks and regional banks have been loading up on loan loss reserves, which tells me they’re baking in a discount. So they’ve really amped up their loan loss reserve. Who knows what the government’s going to do? Got new administration. We cannot presume they’re going to come out with some kind of a, you know, a relief package and that kind of thing. I will say that pretty much we all can kind of believe they’re not going to be super landlord friendly. Right. That’s not their culture. And so that to me is going to produce an opportunity because the landlord that can’t ride the storm is going to be in a distressed situation. 

Josh: Sure. And then when they’re distressed, the asset defaults. So you said there hasn’t been a significant opportunity in the NPL market for 12 years. That’s because the last 11 or 10 or 11 years, the market’s been getting better and going. So banks had no reason and there will sell off those loans. 

Eddie: Two thousand and eight, there was a little bit of a commercial space and multifamily, but it wasn’t anything compared to the resispace. Right, resi crash last time was a direct result of crazy lending practices, no doubt. One hundred percent what it was. And that’s why a commercial and multifamily and all the other asset classes weren’t affected because they weren’t doing the crazy lending things they were doing on houses. 

Eddie: Once again, if you can kind of follow like this cycle’s so crazy that once again, you’re kind of working backwards. So understand, I’m not the expert in multifamily that you are. But I will say that my father-in-law that started me in the business in 1980, he was a multi-family guy. A lot of people don’t really know that. So it didn’t matter when he passed away, about thirty five percent of his assets were multi-family. Right. So I have I don’t live in it every day like you do, but I’ve been exposed to it over the years. 

Josh: Yes. And your business, Eddie, is more based, not around finding a particular asset that you want. Your business is around the overall concept and philosophy of I’m going to go talk to lenders that have a propensity to sell at a discount that I’ve already written down their loan. And you’re simply looking at the paper that you can buy at a discount versus the asset value. You’re not necessarily looking to say, is this a single-family home, a duplex? You’re not you’re not attacking an asset class. 

Josh: You’re attacking notes at a discount period, the end, and then determining is this also an asset class that I might want to get into if it’s sort of an outlier, like maybe a mobile home park or a self-storage building or a multifamily, you’re simply more of the expert at. I’m going to go after the notes. The lenders that have a propensity to sell at a discount. Then I’ll take a look at whatever the asset is that they’re willing to unload. 

Josh: And that allows you to look at lots and lots of deal flow, lots and lots of properties, a lot of residential, but a lot of commercial as well. And to say, I’m going to look at all of it and just buy these notes at discounts and then say, do I want to restructure the note? Do I want to rewrite it? Do I want to modify it? Do I want to foreclose on it and take the asset write? So that is more of like instead of being a house investor or multifamily investor, you’re going to be a note investor regardless of almost the asset class. Is that right? 

Eddie: Asset agnostic. 

Josh: Asset agnostic. I like it. Very good. 

Josh:So help me understand if I want to invest in notes because I love notes. We’ve made hundreds over five hundred private investor loans. I’ve had to foreclose on some, take some back. I’ve gone through a lot of that math and accounting that you’re talking about. So somebody wants to be a no investor. People like the idea of buying a note at a discount. Give me an example of a recent deal that you’ve done. You’ve done forty thousand of them. A recent deal that you’ve done that you’re really excited about, maybe a recent closing. What did you what was the asset? What did you buy the note for? 

Eddie: Now hasn’t really hit yet, OK? So I haven’t I don’t want to say to you that I mean, we are we are looking at early trades of NPLs and we have a trade platform called Notes Direct. So we take performing and non-performing notes and put them on a platform and people can go look at them and buy them. But we’ve got some early assets of NPLs. It’s the first. I mean, most of the NPLs that we’ve seen in the last three years are sludge. OK, it’s from the last cycle that didn’t get traded there. Sludge. So that the crazy stories and I’ve got a. Zillions of crazy stories, but we moved off of a impales. It just it just the quality of the asset, there wasn’t these were rough, pretty roughed up assets, right? Sure. So but yes, we are going to see those. And I do think there’s going to be enough of them that you can go pick the asset class, as you described it. 

Eddie: I’m kind of like the guy that goes into the nice men’s clothing store on January 10th and he’s got the nicest clothes in his store on the on the liquidation rack. I may look at a vast I may look at a sport coat. I may look at a shirt. I may look at a pair of pants. I don’t know what I’m going to see. So that’s the same concept, right? As you said, I’m just looking through assets and play in numbers and I’m probably going to buy cheaper than the guy that is focused on an asset class. But there are asset classes that I would not do because I don’t think I have a competency, but I’ve been doing it for 40 years. I know how to call somebody like you and say, gosh, look, I’ve got this asset on a multifamily bop, bop, bop, right. So one of the ways that your guys may be successful in doing this is finding some brokers. And it’s not me. I did that for years, but I don’t want to go be a note broker anymore. Right. 

Eddie: But there’s some specialty brokers that go chase assets. Right. And you might say, hey, I have an appetite for this. So that could be one way to go do it. Or you could go to some of these platforms. Got it. And but once again. The first mistake I see usually people make in buying in is they think they’re going to drive up and look at that property and they’re going to work backwards and think the look, I know the guys in default. I know the guys in trouble. Yeah, but you don’t know who is lender is right or if you’ve written anything down it. Yeah. So once again, you’re going to work backwards from that standpoint and it’s a little bit like this. Once you find that lender that sells you those that loan, the odds are fairly high he’s got another one. 

Eddie: So all of a sudden now you found the honey hole, which is you found the lender that you can solve a problem for them. Got it. So the vetting process is that, you know, you’re going to buy it at a deep discount and a percentage of asset value. So if it’s worth, you know, just an easy number, if it’s worth a million bucks and you think five hundred thousand is a good number, then you’re going to bid five hundred thousand and you’re going to bake into that number some ready expenses. The odds are fairly high. It’s going to have back taxes. Right. The odds are fairly high that you’re going to have some legal in front of you know, you’re going to have some other things like that. And so you want to make sure that you in the in the total acquisition price that you’re going to buy that that you back out the taxes and other and legal and some other expenses that you know, you’re fixing to write a check for in the next 90, 120 days. Right. You got your budget working, right? Like how you guys, like, back into apartments and run a quick number and figure out whether it’s even worth going out and looking at it. This is how an older guy does it. 

Josh: Got it now. You also focus on performing the loans. You guys are again teaching your students and members how to acquire assets and craft and create seller financing opportunities and owner financing opportunities and performing deals so that like you said at the beginning of this interview, you can almost pay full price and disguise the discount. So let’s move to that market, which is basically available at any time. You’re not waiting for the next cycle. You could do those deals all day, every day. And so I’m interested to hear more about the opportunity. Where somebody can on paper appear like the purchase price is a full price offer, but through the financing creates discounts. Help me understand that. 

Eddie:So here’s a quick story and I’ll have to kind of jump over some of the details. But this was a guy that came to us and and he was doing a story for two storage facilities. Right, in Kansas. So he’s doing the storage facilities. And the guy initially gave him numbers, very typical. He got into due diligence and the numbers didn’t look. The numbers were not as the guy represented. There were some, I don’t know the guy was lying, but it’s just not the same. And he already had his first money, mortgage money in place. So he went to the guy and says, look, I need you to reduce the price by five May. Nardil said, I need you to reduce the price, not down 10 percent off of it. The guy says there’s no way. Mm hmm. So they finally got to the point where he says, OK, will you carry terms? 

Eddie: And this is sort of tip this is what I feel like, I’ve turned into an art, right? The guy comes back and says, OK, I’ll sell finance under this term, this term, in this term, all of which had like an eight-year balloon. Well, the guy’s raising capital. Go buy this deal. How’s he going to refine pay out the balloon in eight years? He’s not right. So the balloon is a no go. So we had to disguise it in a way that the guy was OK with it, right? And so we ended up doing a step right. Note a one, two or three to a five percent, but ended up being a 20-year amortization. You’re saying five percent. I thought you said it was a bargain. 

Eddie: Yeah, but we sawed off the principles so much. By the time we got to five percent interest, the five percent was way less principal than normal. Five percent is what let the guy carry a 20 year fully amortizing loan versus a 20-year arm and even or eight-year balloon. You get what I’m saying? 

Josh: Absolutely. He’s whacking down the principal based off that front payment when it’s only earning one percent interest and then three percent interest. And then when it gets to five, you’ve got so much of it paid down. Now you’re in a situation where assets are worth more. You kind of stabilize the asset, can refinance it and pay off all the investors, including the notes. 

Eddie: A piggyback second is going to become very, very common in commercial, I believe. I think that I think the capital requirements and the loan to value of commercial is going to slide down. And I think that’s going to be true even on multifamily. And that’s where a guy needs to learn to get. It’s not that the seller is going to carry one hundred percent seller financing. He’s out seller financing, five million bucks. Right. But if you all of a sudden got a million dollars’ worth of it with soft terms. And by the way, Josh, when you pay that guy out over 20 years, if you structure the note right and bake in all the good stuff in the note, you’re going to buy your own note at a discount anyway, right? I just don’t know what day. 

Josh: Right. Fantastic stuff. So, Eddie, you’ve been doing this now for over 40 years. What originally got you more interested in notes than actually owning the real estate, then owning the houses? Because so many people are like, I’m going to be a real estate investor, I’m going to buy houses or I’m going to buy commercial buildings. And you, for now, for 40 years, have said, no, I’m going to I’m going to own the debt first. I’m going to structure the debt. I’m going to be an expert at the debt. And then if you own properties because you default or take them over whatever, that’s part of the secondary strategy. But owning and structuring the financing has been your wheelhouse. You’re one of the industry’s best experts at it. Why the financing and notes versus the actual real estate? 

Josh: Dumb luck. OK, my father. 

Eddie: But you wouldn’t stick with it if it was just dumb luck for 40 years. So you got into it for dumb luck. But why did you stick with it? 

Eddie: I was 20 years old. I didn’t know what I wanted. I didn’t know if I was the old saying. I didn’t know if I want ice cream or buttermilk. Right. So my father in law got me started in the business and he was an old he was an old you know, he did parks. He did multi fam. He’s a fireman. And so he did all these things on the side. And then when I came along it was nineteen eighty and interest rates were twenty one percent. And so all of a sudden he looked over there and said, well the biggest opportunity is as people are forced to carry seller finance notes and they didn’t want to carry payments, they wanted to get cash, they just couldn’t get cash because the guy couldn’t go afford traditional financing. Right. So I got I fell into the business just because they found this kind of bonanza market it seller financing was so prevalent. But once again, they always look at other asset classes. I just here’s what I think. What makes me different in seller financing is this. 

Eddie: The art of seller financing I teach is how to structure the underlying financing in such a way that you can rent it or wrap it and make a killing. It’s not to go deal with a substandard piece of property. Or a substandard borrower and say, that’s the reason I need creative financing, because it’s the capital stack. So an example of that is you might use traditional financing, soft term seller financing, and that combination of the two, you got a cash flow machine, even though the price looks like it’s not that much of a bargain. Right. Or once again, you may go structure some private financing, you know, seller financing hybrid and then resell it on a rap note and let the guy pay you 20 percent down. I mean, so there’s all kind of good math that can happen in distressed markets.

Eddie: What I found is this. When people are sort of paying too much, they aren’t they are not in a mindset that that that creative financing really is a thing. Right? But when there’s a crease in the market, when there’s things that are happening that are affecting the market, sellers will agree to some of the craziest financing terms you’ve ever seen if you just offer it to them. 

Josh: Right. So is your strategy to make a discounted offer? At everyone says, well, you want to be all in a sixty-five cents on the dollar, 70 cents on the dollar. So do you make that cash offer and make an offer with terms or a hybrid of the two and then also make a third offer that’s almost paying full price, paying their price with that really creative financing in the background? So you’re disguising the discount? 

Eddie: I would call that the old Jack Miller model. Right. I will tell you, I think I coach the best guys today that are buying on terms. And I, I will tell you this. I think three offers is just really, really confusing. I do too. So I would say that you always have you know, I can pay off the full amount of your equity if you carry your equity over time, or I can pay for all your equity today is just not going to be as much cash to you. You choose Mr. Customer got to start that conversation and then all of a sudden you start working backwards. Let me just give you two or three important things that I’ve learned. Every hotshot real estate investor in America before, they kind of come with me. They think a 10 year no interest loan is a bargain. 

Eddie: Yet I can take a financial calculator, I can take one of these and I can show you that a two and a half percent, 20-year note is worth less present value today than a 10 year zero interest rate note. Right term is more important than no interest. So I always try to get people to negotiate term, and what I’ve also learned is sellers are very willing to do a step payment step, right. Got it. There’s a pattern to that. And so I’ll ask you if it is present value, future dollars. Yeah, I’ll pay you a bigger payment and you’ll pay a bigger interest. But on the back side of the note. Those are just two good, solid principles to start from. 

Josh: Got it. I love it. Yeah. And I can imagine that the opportunity for an investor to, you know, I mean, take those payments and take them out over a long period of time is a big deal. The math works tough to talk about on a podcast, but that’s what the financial calculator is for. Right? The opportunity to do exactly that is amazing. 

Josh: Eddie, listen, if you were going to start over, if you were going to give a piece of advice to our new students, if you’re going to give a piece of advice to one of your new students or one of our new listeners or even just to your younger former self, what kind of advice would you give people in getting started with notes and what seller financing? 

Eddie: Control the money long term and you control the deal long term. I’ve brokered over thirty thousand notes.It’s like one of these high volume house flippers that you and I know didn’t have to involve bucks in the bank. Right. And I’m not saying all high-volume house flippers don’t have to. I’m not saying that. I’m saying there’s guys that that do huge transactional business and don’t have any net worth. 

Josh: Right? Oh, yeah. That was me for a long time. I was mean wholesaling and flipping houses. And really my net worth just over the last couple of years even has ballooned because it’s in owning larger assets, being a private lender, being in commercial real estate and in the private lending debt side of things. That’s really allowed my net worth to balloon. When I was just wholesaling short sales and flipping houses. The income was great but didn’t have a big balance sheet to show for it. You know, my W-2 because I moved some of the income out of my house flipping business over to W-2. I could show a big W2 to qualify for loans. Sure, qualifying for loans. But now I qualify for much larger commercial loans because my balance sheet is X amount bigger. And that’s all just happened here in the last four to five years. Really big difference there. 

Eddie: There’s tax return and there’s financial statements. If your tax return is growing every year and your financial statement isn’t growing bigger than you’re focusing on the wrong thing. 

Josh: That’s a great piece of advice. I love that. Eddie listen, we need to kind of round for thirdhand head for home. I know you’ve got some free material for our members and listeners of a free workshop and a free ebook and some of that stuff to kind of get to know you a little bit more. Where can they reach your stuff and get a hold of some of your material?

Eddie: Well, so what we did was I have written a book that’s about five chapters of Different Ways to think about buying on terms. So it’s not one strategy and it’s about 50 pages, but it’s a solid read. I mean, it’s usually a pretty interested guy’s not going to put it down because we move from different ideas and stuff and then also just a workshop. And just to go through the concept, like, what does this mean? How does it work? Why do people do this? And then so FreelandVentures.com/Eddie and so we’ll have a page in and from there we’ll give you an ebook and a workshop and stuff and we train, we train a lot of high-volume guys. So I mean our training and the way we handle it, it’s going to be appropriate. It’s not guru training. You know, it’s good stuff. And I’m honored that someone like you regularly comes and hangs out with us because it’s especially I spent about 40 years trying to figure it out, you know, so it’s not like it’s a little different way of thinking than people think every day.

Josh: You’ve got it. You got to meet guys. There you have it. Listen, Eddie’s got material all over the Internet. We put together that special website so we can kind of consolidate it. Easy to remember Freelandventures.com/Eddie. And listen, Eddie, you’re so busy. You’ve done so many deals. I’m just super excited. We finally got together to share some ideas and stay in touch. So we’d love to have you back on next year in 2021, see what happens with the NPL business. So consider that an open invite. We’d love to have you back. So thanks so much for joining us on Accelerated Investor. 

Eddie: Thank you very much. 

Josh: So, guys, there you have it. Hope you enjoyed that interview with Eddie Speed, really had a great time getting to know him better. Guys, listen, a guy that’s done 40 thousand notes and built his wealth through commercial and both residential note investing, somebody that you absolutely need to pay attention to. Hope you enjoyed the interview. You did leave us a rating in a review in iTunes or wherever you get your podcasts. Also, don’t forget about the free ebook and workshop we put together. You can go to FreelandVentures.com/eddie to get your hands on. That’s absolutely free. And he will walk you through his workshop. I’m sure he’s going to offer some sort of training or coaching on that website. But the e-book and the workshop is absolutely free. FreelandVentures.com/eddie. Thank you so much for joining me today again at Accelerated Investor. We’ll see you next time.  

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