099: The Benefits of being a "Lienlord" with Bob Fraser

Bob Fraser is on a mission to help investors take advantage of one of the most effective and overlooked avenues of real estate investing: residential mortgage notes. As Founder and Principal of Aspen Funds, Bob has purchased more than 1,000 mortgage notes earning double-digit annual returns without the risk and volatility of traditional investing options. Bob has personal experience with the unpredictable nature of public markets. In the 90's, he launched a tech company, raised $44 million in venture capital, and grew it to over 300 employees. Then the tech bubble burst and he transitioned to finance and investing, becoming CFO for several organizations and running a hedge fund. In 2012, he met business partner Jim Maffuccio, and the two found an alternative way to invest in real estate without the volatility of traditional options. By purchasing discounted residential real estate notes in the American heartland they discovered a high yield, liquid, asset-secured investment that produced consistently superior returns without all the risk. Better yet? They could work with homeowners to help them stay in their homes. Everyone wins. With Aspen Funds, Bob uses his 20-plus years of experience in finance to oversee the company’s mortgage note portfolios. A Magna Cum Laude graduate in computer science from U.C. Berkeley and former Ernst & Young Entrepreneur of the Year Award-winner, Bob often makes bold, contrarian predictions about the economy and technology, most of which have already come true. (00:01-02:00) Opening Segment - Introduction of the guest, Bob Fraser into the show - Bob shares something interesting about himself (02:01-35:24) The Journey to Real Estate Investing  - Bob tells how and when he started to invest in real estate - He also shares how he transitions from tech to hedgefund - Importance of understanding timing - Why understanding the macro-economic picture is crucial - Bob's Economy Newsletter - What is a "Lienlord"? - Bob shares how he started buying notes - How to buy notes in bulk? - What will happen if the property forecloses? - "Be financially savvy" - How pricing varies in state - What are the criteria Bob looks for in buying real estate? - Best Deal - Worst Deal and the lesson Bob learned from it - Does Bob focus on a certain asset type? - How to take advantage of inflation (35:25-35:44) BREAK (35:45-36:00) Second Segment - Welcoming listeners back and re-introducing podcast guest, Bob (36:01-38:29) Fire Round - Will Bob change his business strategy after Coronavirus? - Favorite real estate finance or and personal development related book? - Website or tools that Bob recommends - Bob's advice to beginner investors - How does Bob give back? - How can Wealth Matters Podcast listeners reach out to Bob? (38:40-38:53) Closing Segment Reach out to Bob by visiting his website https://aspenfunds.us/