Business
Richard Allen is a Husband and a Father and he has always been an entrepreneur. He loves to positively impact people's lives and disrupt markets. Rick's current projects both revolve around the distressed debt market and disrupting how mortgage notes are traded. His company Paperstac, is the first fully digital online process for buying and selling mortgage notes. As a co-founder at MWM fund, Rick and his team focus on deploying capital in the distressed debt space with the goal of managing for economic returns and social impact. [00:01 - 03:37] Opening Segment Get to know Richard Allen A Real Wild Ride: Life and husband as a father of 3 Starting real estate in 2005 and becoming the owner of Paperstac [03:38 - 11:05] Note versus Stock Investing Comparing and Contrasting Notes and Stocks “At least my money is secure to a certain degree!” Why you should try note investing Must-Know Exit Strategies For You [11:06 - 22:57] Become the Bank with Notes What are you in this for? Rick talks about Paperstac’s services The safest thing to do when note investing Note Investing Average Time Investment Due Diligence and Performing LoansYou can literally do nothing! Performing versus Non Performing LoansWhy getting the right servicer and attorney changes the world The Attorney and the Servicer Operation Squeaky Wheel [22:58 - 31:37] Closing Segment Quick break for our sponsorsGroundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started. What is the best investment you've ever made other than your education?A keen to details deal Rick’s worst investmentA huge house in Kentucky What is the most important lesson that you've learned in business and investing?“Get yourself educated.” Give extra attention to the details. Connect with my guest. See the links below. Resources Mentioned: NoteSchool Real Estate without Renters Tweetable Quotes: “You have to know ‘what’s my investment goal?’.” - Richard Allen “If you look at something, the due diligence is the most important thing when you buy a loan.” - Richard Allen “A devil is in the details… Really look at all the details and all the angles in an investment.” - Richard Allen ------------ Connect with Richard Allen through hello@paperstac.com and LinkedIn. Visit their website https://paperstac.com/ or Youtube. Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/ Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes