GI119: Creating Passive Income Through Note Investing with Chris Seveney

GI119: Creating Passive Income Through Note Investing with Chris Seveney

Chris Seveney has developed over $750 million in real estate and built a note investing portfolio valued over $12 million.

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Transcript:

Announcer:
Welcome to the Global Investors Podcast, a show that focuses on helping foreign investors enter the lucrative US real estate market. Host, Charles Carillo, combined decades of real estate investing experience with a professional background in international banking to interview experts in all areas of US real estate investing. Now here’s your host, Charles Carillo.

Charles:
Welcome to another episode of the Global Investors Podcast; I’m your host Charles Carillo. Today we have Chris Seveney. Chris has developed over $750 million in real estate and built a note investing portfolio valued over $12 million. So thank you so much for being on the show, Chris.

Chris:
Thanks having me. How are you today?

Charles:
I’m doing well. I’m doing great. It’s awesome that we were able to connect.

Chris:
Oh yes, no, absolutely. And again, thanks for having me on, so

Charles:
Tell us a little bit about your background both personally and professionally prior to getting involved in real estate development, investing and not investing.

Chris:
Yeah. So my background kind of started in real estate and I went to college for civil engineering back in the mid nineties. And when I got outta college, I started working for a large commercial general contractor in the year in the Boston area. So that’s kind of was my introduction to real estate. I always loved real estate and it was a passion of mine. And after I graduated college, I worked for them for about 15 years up in Boston, then 10 years and then moved down to Washington DC. And after that got burnt out working many long days and weekends I flipped as in the construction world to what they call the dark side in the dark side was going to work for a developer. So I made that switch over to a developer. And once I made that switch, the people I were working for were much more entrepreneurial and they, a lot of ’em had, you know, rentals and other properties.

Chris:
And this was right around the time of 2012, 13, where the market was slowly starting to, you know, turn around. So my wife and I we built our primary residents. And then after that we had good amount of equity. So we started buying some rentals. The challenge we had with that was two kids, my wife and I both working full full-time jobs. So we couldn’t really scale that. And also Washington DC area is extremely expensive. So what we ended up doing was not, you know, after a few rentals, basically just stopping, you know, not having any more rentals. And then what we did I came across note investing, which honestly I had never heard of at the time. So most people who were listening may not even have heard of note investing. So I wanted to kinda bring that to light to people because it’s a very niche industry and niche market that most people aren’t even aware of. And that’s kind of, I started five years ago, got the ball rolling. And you know, we can talk a little bit more about that as we move on this episode.

Charles:
Okay, awesome. So explain a little bit about not investing. What types of properties are you financing? Are you generating the notes or purchasing them on a secondary market?

Chris:
Yeah, so we purchase ’em on the secondary market. We typically don’t generate or create the note in most instances. Now there’s a lot of people out there who do that private money lending where they’ll do it for typically, you’ll see that on fixed flip deals or other type of deals because you don’t do it on primary residences because of all the government regulations that are involved now on the flip side that we’re on the secondary market, where we are buying a lot of those single family residential first position notes is where we invest. So we have to really put together a strong team in place to make sure we stay in compliance with all the state and federal regulations.

Charles:
Okay. So these properties are not, are, I mean, these properties, they might actually have someone that is the homeowner that you’re they might actually, and they’re not just a flip property, is that correct?

Chris:
Yeah. I would say 95% of them are single family owner occupied or, you know, the other 5% is most likely people use it as a rental

Charles:
Property. Okay, awesome. Yeah, because I mean, for the returns, when I was reviewing your website and we can go over the returns here, but mm-hmm, <affirmative> the returns are very high and that was something that if you want to explain how you’re getting these high returns and what the returns you can expect. Yeah.

Chris:
So when you’re buying most people like, well, why are you buying notes? And typically what we’re doing is we’re buying non-performing notes, meaning borrowers who are not paying. So that lends the question of why would you buy a note when somebody’s not paying on it? It’s the same thing of why do you buy a house that needs lots of repairs? You buy it at a substantial discount. We try and buy loans typically on average between, you know, 30 and 60 cents on a dollar when they’re not performing. And that’s a completely dependent on the state, it’s in the property condition, the property value, how long it’s been delinquent. And most people, I just wanna mention this too, when you think like I have a mortgage and a lot of people who are listening probably do you think you miss one payment? Like somebody’s gonna come knocking down your door and tearing you out of the property. Most of these borrowers are borrowers who have not paid not months but years. Yeah. So, and the big institutions and hedge funds don’t do a lot with them because a lot of times it might be a, a 30, $40,000 asset that for them they’re managing 300, $400,000 assets because the costs are the same costs. The same to foreclose doesn’t matter what the loan value is. So a lot of times these just get pushed away and they look to sell them, which is what allows them to get, be bought at a discount.

Charles:
So what is your what is the business plan? And with it, you’re obviously buying these a discount, which is fantastic. There’s value there then cause you’re buying ’em distressed and you’re buying ’em from people that don’t wanna deal with them because they have huge portfolios and it makes perfect sense. It’s not their business. Mm-Hmm <affirmative> and it’s your business. So what is your business plan from taking on? Are you gonna make, are you gonna get these people back on track and how are you exiting the notes?

Chris:
Yeah, so typically, you know, our primary goal is to try and get the borrowers reperforming and get them back on track. You know, our goal isn’t to go in foreclose and take the property back. We try and work with the borrowers when they wanna play ball. You know, there’s only so much you can do if a borrower is not responsive. Yeah. It’s gotta work both ways, but typically we like to keep borrowers in their properties. I mean, we have a whole podcast talking about doing the good deeds of keeping people in their property. But it’s, you know, for us, that’s what, you know, part of how we operate. But also you have to be flat out honest with most peace, most people, if you can get them reperforming and get them on new payment stream and whether it’s lowering the payment or pushing some of the late charges and pass due interest to the end of the loan it tends to be more profitable at the end of the day. So it’s a win-win for both people where they get to stay in their property, which today’s where old probably has equity in it. You work the agreements with them and then if you can get that on a consecutive payment stream for 12 plus months, you can turn around and sell that loan to some as another investor, maybe in a performing fashion, or you might be selling it’s them 75 to 80 cents on the dollar. So you can kind of see some of the, the math numbers there. So, so the

Charles:
Industry is like a 12 month seasoning process. That was my next question. That’s it? Yeah.

Chris:
Typically I mean, it’s interesting. I go by 12 months, the standard is 12 months, but people try and change those standards. Some people will be like, well, it was paying before COVID so it’s still performing. And it’s like, well, the money’s not coming in the door, so it’s not performing. Some people will think it’s a month or three months. But for us typically we like to go off of 12 months because that shows some consistency.

Charles:
Interesting. Okay. And and then you’re putting this back out onto another market to sell it after this this process after this 12 months, like we just talked about that, correct?

Chris:
Yeah. We’ve yeah. We’ve found a very nice niche that we’re in, where, you know, we typically will buy 30 to 60 assets at a time, so we can, that’s considered somewhat bulk, not really, but we get a discount for buying that much at a time where we’ll buy from some of those larger hedge funds. And then we’ll buy those once we get, ’em worked out, there’s a lot of investors out there who like to buy ones, we call ’em one Z, two Zs, you know, one offs here and there, especially people who have self-directed IRAs because of the way you, you know, your deferred taxes and with notes, there is really no tax benefit because it’s actually ordinary income. If you’re using your own, it’s actually probably a disadvantage, but on conventional real estate, you get the depreciation tax benefits, which if it’s in your IRA, you don’t get that. So you might as well use your IRA for items that don’t provide any tax benefit and use your other cash for real estate, which is what I do and what a lot of people do. So we find a lot of selling those assets, often investors who like to buy one, one or two here and there.

Charles:
Okay. Interesting. Interesting. So what is for the, you know, you, the people that you’re that these mortgages for the properties that they’re in, I mean, you’re getting these high returns, is the returns, what is a typical, what are they paying for these mortgages and why are they having a note that’s being sold off, obviously, if it’s not performing, but what are the rates that they’re usually paying on this? Is it lower? Did they go through some sort of, is it just a normal person that went through a normal conventional mortgage and then they get, or seller financing that’s now being sold off, or

Chris:
It’s a mix. Most of the loans we see are between five and 9%. Oh, wow. So they’re higher than what most of us think of, of, okay, you get 3%, three and a half percent, you know, a lot of these were originated back, you know, 2010, 13 rates are a little higher, but also a lot of ’em are borrowers who have had questionable credit mm-hmm <affirmative>. So they may have gone a non QM route or some other means to get a loan. So we typically see a little higher interest rate which is, you know, includes when you discount it as well and get them paying again. It, again increases the as returns, which you mentioned returns and, you know, we target for every non-performing loan to hit get around a 30% return on those is what our target is. If it’s a performing loan we’re looking to buy, you can buy those between 10 and 12% eight to 12%, depending on, you know, the situation in the state, of course because some states are much riskier because if it default, there’s a lot more legal expenses and foreclosure timeframes, but, you know, that’s our target, I’d say overall in our portfolio you know, our historical returns average somewhere in the mid twenties.

Chris:
Now I just gotta make stipulation, you know, past performance is not an indicator or future performance. You know, that’s kind of where we’ve been at though. Yeah.

Charles:
Okay. Yeah. The S sec, disclaimer, everybody has that <laugh> before we get into your funds, cause I’m very interested in learning about them as well. And the, what is the process? So you take a non-performing loan. I imagine you have a whole team for this, that, I mean, what is the process for you? I imagine you try to make contact with them and then where does it go from there over and how many months does it normally take to get them performing again? And if you’re able to, and how does that whole process work? What you’re doing on your side after you’ve acquired the note. Yeah. So

Chris:
I’ll even go a little bit rewind because it’s very different. And I’ll talk about even buying a note because when you actually bid on a note, it’s, you’re typically bidding on the asset blind and you’re not spending money. You’ll get a list of assets called the tape and you’ll bid based off the information that’s on that tape. And I’ll do some research online and maybe look at like Google street view and, you know, I’ll spend probably 20, 30 minutes bidding on an asset. And then if it gets under agreement, that’s when you’ll receive all the collateral, which is all the loan files from that current lender. And then I’ll order a title report to check on title. And if there’s taxes owed, because most people aren’t paying the mortgage, not paying their taxes. And then we send somebody by the property to take photos of it, which you don’t get to see the inside of the property.

Chris:
You know, you’re a lender, you know, your lender comes knocking on your door. You don’t just let them in especially if you weren’t paying. Yeah. So it’s kind of done by on a handshake deal. And that’s what’s, I wanted to mention it because it’s kind of a back and forth by email and stuff of a, or agreed. Then you finalized, negotiate the price, then you sign the loan sale agreement, you wire the money and boom, you bought a note. So the process though, is you rush, rush, rush through that process, which takes about two to three weeks. And then you have to sit and wait. And the reason why is you have to hire a licensed servicer and that’s the company. It actually collects all the payments. Does all the reach out calls the borrower for you? And once you buy the loan, you know, it takes about a month for the servicing companies.

Chris:
If you’re using a different one to transfer all that data, you know, from all the past history, make sure it’s in their system properly. Cuz the last thing you want is it to be put in improperly and that’s about a month. And then once they get that squared away, they send a letter saying, Hey, you have a new lender. Here’s where you send your payments and oh, by the way, if you don’t dis if you disagree that you owe this money, you have 30 days to dispute it. So you’re basically just now waiting another 30 days for that process to happen. Now typically. So that’s 60 days after you’ve bought the loan. So after that, then if there’s been, you know, they can still call and, you know, reach out to them and so forth to, you know, ask them, you know, if they wanna start making payments and so forth.

Chris:
But then typically at that point in time if there’s been no communicate, that’s one, we’ll get an attorney involved and we’ll have attorney send what’s called the demand letter, which is a letter demanding payment. And that typically is what starts to get people, to wake them up. You know, some people just see a letter, they throw it in trash, oh, it’s somebody else, you know, whatever. Once you see something from, you know, law office of ABC typically that’s when they’ll start to wake up and you’ll try and work something out with them. And if that doesn’t happen, 30 days go by or 45 depending on the state. And then that’s where you can file a legal complaint, which is, you know, you file that, you know, with the courts if it’s a judicial state, but you file, you know, basically to start the foreclosure action. And in many instances they get served either by a sheriff or by you know, somebody to hand them the documents that they have to sign for. If they didn’t jump at the first instance now they’re typically is when you get them back in play. Because now they’re like, oh, this person’s serious. So, but then, you know, you’ll still, I mean go back and forth for another month or two. So on average, it’ll probably take about six months to, you know, get something worked out with a B with a borrower.

Charles:
Interesting. And what kind of percentage, I’m not sure if you mentioned it earlier, you said that you usually are able Tofor have them perform again.

Chris:
Yeah. If it’s a owner occupied single family residence that, you know, like I said, it’s occupied tip it’s about 50%. I’d say it’s probably it’s close to about 75% now. There’s, you know, when we’re buying 30 or 40 at a time, there’s some that might be vacant or, you know, I’m, I’m taking away the ones that the borrower has is deceased and things like that because you know, those, you know, what the outcome is gonna be, but it’s around 75% of, you know, the loans where somebody’s owner occupied in, in the property you know, work something out and those other 25, honestly, it’s in many instances they just never respond to anything and we’ve got almost no choice or no option.

Charles:
Interesting. So what kind of states do you like working in and buying notes in that make it easier for a note investor?

Chris:
So it’s interesting cuz like, you know, some people love Ohio and I joke, I said Ohio stands for only headaches in Ohio. Is the acronym you know, the Southeast typical is, you know, areas we like Tennessee, Missouri the Carolinas Georgia. I, I like investing in those states because one home prices continue and appreciate people are moving to those areas. As well as their foreclosure laws are not, you know, extremely burdensome. You know, you get up into the Northeast, which is where I’m from originally, you know, New York, you’re looking at years to foreclose, Georgia. It’s like 45 days. So it’s such a, you know, an interesting difference from that perspective. But typically most of, I mean I’ve invested in 35 states, but the majority of them are in the the rust belt and down into that Southeast. Yeah.

Charles:
So Midwest mid south, Southeast landlord friendly states, I guess you would say yeah, pretty much from saying, yeah, I’m from Connecticut. So I know, I know how it works up there. I still have rental property for years up there. So I know all the headaches and everything that goes with that wonderful place. So talk about these different funds. You have a couple open ended note funds to accredit investors, obviously, that’s why we’re talking. Cause you can do so. Yeah. And then you have partial notes too. So if you don’t mind kind of explaining what they are and how they work.

Chris:
Yeah. So the two funds we have, one is a performing note fund, which we just by performing notes and we offer investors preferred returns between eight and 12% preferred return based on the investment that they put in. There’s no management fee in those funds or anything. It’s a straight you know, we, you know, our income is made off of, you know, the difference between what we buy the note from and what the preferred return is. So from that, you know, investors get a interest payment every month based on which pre pre they’re in. So it’s nice that, you know, just get that monthly check or you can reinvest it. And it’s only a one year you know, one year, whole time on that for an investor. So, you know, it’s something, if you wanna put cash away for a year to see what’s going on with the markets and so forth, it’s a nice little niche from one aspect.

Chris:
The other fund we have called the integrity mortgage note fund that one’s a three year hold where that one’s gonna be primarily more non-performing loans. And that one the preferred returns start at 7%, but we’re also offering 25 per percent upside to the investors. Now I know people invest in multifamily, look at ’em from, and they’re like, oh, well, you know, typically it’s the other way around where you know, the sponsor gives away most of the preferred return and I’ll be honest, we don’t try and compete with the multifamily because a lot of those are five to seven year, whole time, but all also with the fees that, you know, once you get property management fees and all these other fees involved, you know, you pay a lot in fees that end up hurt, you know, diminishing that bottom line a little bit that goes back sometimes to sponsor or their affiliate companies.

Chris:
So you can’t really judge ’em because it’s two, even though it’s real estate, it’s two different market sectors. So, you know, in, in that fund you know, we target investors you know, we’re looking to get them 11 to 15% returns per year is what we look to get investors on that, and then partials, this one’s interesting because this one typically confuses people a little bit. And what a partial is, is say, I have a a loan that has a hundred payments left on it. I can basically bifurcate it or hypothecate it where, you know, Charles I’ll sell you 50 payments. So basically, but you’re secured by that collateral. So you it’s basically take that first position loan and putting you in position one a and I’m in position one B so the first and I manage it and basically send you the next 50 payments.

Chris:
And there’s an amortization table based off of 9% that you’ll get, you know, a principal and interest payment based off a 9% based on what you invested over a period of time, which typically four to seven years that gets paid back to you. So it’s almost like, you know, the bar, the borrower is essentially paying you and on those you know, I take on all the risk if it goes not, if it goes delinquent meaning that I have to go out of pocket, my cost, that investor’s not out of pocket, any cost I’ve done over 60 of these. And it only once has a borrower failed, you know, stopped performing, which we ended up foreclosing and the investor actually just got their money back and got paid from that perspective. So they, you know, got their returns as they had promised.

Chris:
So it’s, you know, what I would consider probably, you know, the lowest risk because you’re getting your principal and interest back. But you know, it’s over a four to six year period at you know, the performing note fund also in, you know, my perspective is less riskier, of course is always risk in any investment than, you know, the non-performing fund. Of course, you know, higher returns does have a little higher risk, but you know, these are, those two are my fourth and fifth fund. We’ve got one of them, my first fund is wrapping up in next few months, which is done very well in the other two funds we’ve again, have performed very similar. And do we expect to hit the returns to the investors that we’ve stated in which I’ve stated early, which is that 11 to 15% do those investors.

Charles:
Interesting. And this is paid, you said one was a monthly, is another one paid quarterly or quarterly.

Chris:
Yep. Okay. And, you know, it’s similar to most fund, if, you know, there’s a quarter like the first quarter is sometimes questionable because of that period. I said of buying and getting things locked up. If you miss that first quarter basically you’re still owed it. It’s not as if it just goes, you know, goes away from that perspective. So and then the excess, you know, at the end of the year, the CPA does the books and says, Hey, there’s this much extra profit that will in that integrity fund that gets you know, distributed to the you know, gets split up to the investors as well.

Charles:
So on the real estate investing side of it, not the debt side, let’s say on the equity side, what we really kind of focus on. It’s obviously very competitive. How is it with note investing? Is it very competitive as well now? And how has COVID changed your business? So

Chris:
It’s not as competitive as other real estate industries by any means. There’s a lot less people involved in this because there’s a lot of work and a lot of people don’t want to deal sometimes with the hassle of lawyers and a borrower getting at the attorney. You kind of have to have a certain personality to deal with that. Thankfully I do based on my background. So, I mean, it’s competitive of course, but not nearly as competitive as, you know, trying to do fix and flips or buying holds at this point in time by any, any means in COVID it’s been interesting I’ve had on my performing loans less than a 5% default rate on COVID from COVID related and in the same token, I’ve also had more borrowers last year who refinanced and paid off the loans.

Chris:
So actually it was a, oh, you know, it was actually a better year for us because yes, we did have some people go delinquent, but we also had others. Come through. The other thing that’s been beneficial is for example, in the state of Pennsylvania, the Pennsylvania housing finance association is a nonprofit that gets state money and they assist people who have missed their payments to get them caught up. So people who have missed payments, even if it was before COVID, they’ve stepped in and helped these borrowers to get them caught up. So we’ve been able to, you know, benefit from those as well. And it, again goes to show when you try and work with people, cuz sometimes, you know, with those agreements, you may have to lower the payment or even lower the interest rate which at the end of the day, you drop an interest rate, you know, by, you know, two points you know, yes, does it, I impact the bottom line. Yes. But not that great of a bottom line and it’s not that impactful. And it’s actually, when you look at it, you’re getting that person that continue to pay, which you don’t know if they could on that prior rate. So it’s just, it’s just a win-win you know, all, all the way around.

Charles:
Yeah. It’s same thing with real estate with apartments and during COVID we weren’t raising rents on renewals and it’s better to have someone in their paying versus someone, you know, versus a vacant unit. And that’s two months done the whole story that goes along with that. So interesting, very interesting. I know I, I’ve spoken to other note investors individually and I imagine you, you do as well. Like what mistakes do you commonly see other real estate note investors make

Chris:
You know, the, the three, you know, the three main, the three biggest risks in note investors thing are taxes, title and property condition. And I see time and again, people trying to take shortcuts or not spend the money to order the title report or check on the taxes or send somebody out to the property. Those are the three biggest things that I see and the other people getting into it too early people will go take, you know, a weekend seminar mm-hmm <affirmative> which, you know, just like in real, any aspect, real estate stocks, you know, they have these weekend courses, you can go take that, give you an overview and they make it sound like it’s really good, really easy and really profitable. And they say, follow these five step and you start on Monday, you follow these five steps and these people start bidding on assets.

Chris:
And the reality of it is they have no idea what they’re doing and I’ve seen, you know, time. And again the one other thing I’ll mention is, and this goes for all aspects of real estate, is if you’re going to partner with somebody, whether you’re the sponsor or you’re the equity partner, whatever it is, you know, don’t just take somebody’s word for it. You know, if, you know, Charles says, Hey, Chris is a great guy, you know, because I was on a podcast you know, make sure that you do a background check on that person and check their references, you know, and then ask that person, well, you’re referring ’em have you actually worked with him? Oh no, but I’ve had a beer with him and he is a good guy. Well, an that’s not good enough. I’ve seen far too many people in this business follow somebody’s recommendation, like the, that, and then get burned. And, you know, unfortunately, you know, I was, I there’s a person I recommended to a few people and then found out, you know, later on this person ended up having a lot of issues. And then basically now those people got burned in the note space and it’s a very small space. So in, you know, people in the note space probably know who, who it is, but it’s unfortunate because you know, it’s something that you just wanna make sure that you do a proper check on somebody in, from that perspective. Yeah.

Charles:
I think I know who you’re talking about. The the <laugh> so the, the thing with let’s talk about title issues before we wrap up here. Cause it’s very interesting, obviously title issues would be additional liens on the property that you probably haven’t noticed, but is there anything else, are any of these, these are all first position. Is there any second position that you ever find or what are the big problems or obviously a red flag would be anything that comes up that doesn’t, isn’t clean other than that lien, but what, what are normal things you find issues with titles

Chris:
Taxes the other is if a family member who was on the loan deceased and it didn’t go through probate or, you know, then they just were like, oh, we’ll just quit claim deed. You know, in somebody’s elderly, they just quit claim deed to another family member and they pass away. But you know, the quick claim deed’s really, you know, worthless <laugh> you know, in many instances from that perspective I’ve got one right now that you know, we we’re looking at where there’s just so many title issues because they kept transferring this thing back and forth. The other is sometimes title companies make a mistake where I’ve had some where they had to record multiple documents at once. They record them out of order from, you know, certain perspectives. So that’s some others. But yeah, typically it’s typically liens is what you will see the liens in the taxes.

Chris:
And you know, also what you gotta check is in certain states, there’s a county tax. There’s like, you know, Pennsylvania, there’s a county tax, a school tax, a local, there’s all these other taxes. And if you are using a title company or just trying to check ’em on your own, you know, cuz some people do that and you just make the phone call. You’re not checking the other one. Well, the school taxes, you know, $3,000, but the, this the local tax only 500 bucks and it’s like, oh, it’s only 500 bucks or a thousand bucks pass two, they missed two years and you missed the, of other 6,000 in taxes. And what is people again, sometimes people just go cheap and they tell the title company, oh, don’t check the taxes, I’ll check it myself. And it’s an extra 30 bucks and 30 bucks on a $30,000 investment really is, you know, unwise and not spend that money.

Charles:
Interesting. Interesting. Yeah, that’s a lot of great information. So what do you think are the main factors that have contributed to your success?

Chris:
Oh I, you know, for me it’s inconsistent con consistency of, you know, people, you know, you know, start with something and they hit a little bump in the road and they stop, you know, one of the things that I’m horrible at is trying to stay in shape where, you know, my gym is literally right over there. You know, I’ve got it and it’s like, oh, I’ll go two days a week. Then something will happen. I’ll miss two days. Ah, then I’ll miss two weeks and it’s, you know, trying to, you know, get back in the swing of things. So that’s one thing I mentioned, people is consistency. And the other thing is in a business, you know, you do have to spend money to make money mm-hmm <affirmative> and there’s certain things that you really from to reducing your risk. For example, you know, working with a good title company, working with good attorneys, you’re gonna pay a little bit more, but you’re also reducing your risk. And then you build those relationships and larger companies typically use the better attorneys and all of a sudden when I’m using the same attorney and somehow I get introduced to another company or somebody else, all of a sudden it’s, you know, Hey, I can start buying from this person or something along those lines. So networking when you’re using good vendors can lead to much better and bigger relationships.

Charles:
Yeah, no, that’s one thing when I talk to new investors, mainly in like the real estate equity part portion of it and they don’t wanna invest a little bit of money and getting stuff set up correctly and you know, there’s all this potential to make money, but people don’t wanna, a lot of people don’t wanna spend money and they’re, you know, spending money here, but not where it really counts. So. Yep. It’s interesting, but okay, perfect. So how can our listeners learn more about you and your business?

Chris:
Yep. So they can go to my website, which is seven E investments, but it’s a number seven, the letter E then word investments.com is the best way. On there you can contact them, reach a, out to me and learn more about the investment opportunities we have. If you’re interested in more notes we have the good deeds note investing podcast at we launch a show weekly and, you know, I enjoy it because that’s where I tell the stories that we go through with borrowers and lessons learned. And sometimes it’s event Fest where, you know, I’m just, you know, upset and just venting about something that’s happened. But it’s really telling the true life story of it, because again, it goes away from the weekend warrior courses where everything makes things simple to try and tell that story. And then another place to learn is if you’re on Facebook, we have a group called notes, not nuts notes in bolts, from the good deeds zone investment podcast. So those are the three places I typically you know, can be found pretty easily. Awesome.

Charles:
Well, thank you so much in coming on and letting our listeners learn about another route of making money through real estate. And I’ll put all those links into a show notes. So thank you so much.

Chris:
Thank you Charles, for having me talk to you soon.

Charles:
Yeah.

Charles:
Hi guys! It’s Charles from the Global Investors Podcast. I hope you enjoyed the show. If you’re interested in get involved with real estate, but you don’t know where to begin, set up a free 30 minute strategy call with me at schedulecharles.com. That’s schedulecharles.com. Thank you.

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About Chris Seveney

Seveney Mortgage Note Investments is led by Chris Seveney. A real estate professional of over 20 years, Chris has developed over $750M in real estate and is known for honesty, integrity, professionalism, passion, and tenacity in all his dealings.

Since entering the real estate business, he has strived to be an industry leader with whom his partners and colleagues can put their trust and faith in. He has been the leader of multiple teams that have won numerous industry awards in excellence and innovation.

As the son of a life-long educator, Chris now shares his knowledge of first position performing and non-performing notes to his peers. Chris has an intimate understanding of this niche industry from his continued effort for self-improvement. Chris received his bachelor’s degree in Civil Engineering from Worcester Polytechnic Institute and is completing a Masters in Real Estate Finance from Georgetown University. Through this education and experience, Chris has been able to build his Note Investing portfolio to over 250+ deals valued at over $12M.

Along with investing in first position performing and non-performing mortgage notes, Chris enjoys his full-time job as a Director of Construction for a Washington DC-based development firm who is an industry leader in sustainable design and construction. In his free-time, Chris enjoys spending time with his family and is an avid Boston sports fan having spent much of his life living in Massachusetts.

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