Performing Notes with Desi Arnaz

We can all benefit from success stories of real estate investors who have strove to reach their goals in the industry. In this episode, Scott Carson talks with long-time note investor, friend, and student Desi Arnaz about his note business. Desi is a professional investor and Co-Founder of the ACI Legacy Group with over 40 years of experience in the real estate world. He shares his focus on performing and non-performing notes and how video has helped him to market for deals and private investors. He also shares his biggest advice to people who are thinking of getting into real estate.

I’m excited to be here, but even more excited to have somebody on as a guest on this episode of the show that you’re going to love hearing from. We have a special guest, somebody that’s been a friend for a few years now. It goes back to my time of teaching in California when I was traveling across the country. A guy who has got a diverse background but came in, saw something and changed up what his focus was on with his background. I don’t want to take any of his thunder because he’s got a great story, but we’re honored to have our buddy Desi Arnaz joining us from San Diego, California. What’s going on, Desi?

Everything’s going pretty cool out here in California.

Why don’t you share a little bit about your background? You’ve got years of experience as a realtor out there. Why don’t you share your real estate/entrepreneurial journey?

I got my real estate license in 1980. I got my broker’s license at that time too. I owned a Century 21 franchise and I started flipping houses and investing in real estate. That’s pretty much what I did until I met you. I was either flipping houses or investing in real estate as a landlord or I also owned a couple of mortgage companies through my career. In 2013, I remember it was on the 4th of July. I was up early surfing the internet, waiting for my wife to wake up because we were going to go to the beach that day and I found you on the internet. I was like, “What is this?” You were talking about buying paper and investing in mortgages. Even though I had a bunch of real estates, I didn’t own any paper and I didn’t know anybody that did. I started delving into what you do and then it turned out you were going to be coming that next month to San Diego. I said, “That’s cool. That works for me.” I signed up for your weekend course, went there and my mind was blown. I said, “Look at this young guy, he’s out here doing it.” You made a pretty sweet offer for me, which I took advantage of.

One of the things I used to do as well too is I offered up, “If you come to one of my workshops and you do a deal within 90 days of the last day of the class, I’ll refund back your tuition,” because it was a great way. Desi did that. He went out and landed a deal in 90 days and sent me an email. He said, “I closed on a deal.” I was like, “I’m glad to refund that money back. It’s a great testimonial for my teaching.” I had stopped doing that because many people were closing deals. I was like, “I’m not making any money in my class.”

I felt bad that you weren’t making any money. To top it off, you flew from Texas to California to refund me my money. I had no expectation of that. I thought, first of all, I wouldn’t even get my money back and I didn’t care because I had done well on about six notes. I have done well on that trade, but you did it. I’ve been telling people about you ever since. I went on to do a little bit of getting out of my assets. By February of 2016, I sold the last of my rental properties, which was someplace in Georgia. I’m all paper. I wanted to save my retirement because I switched from nonperforming to performing.

I wanted to cashflow at my age. I’m collecting the cashflow and enjoying life, traveling a lot with my wife. My youngest daughter came to me and said she wanted to learn to do what we do. She had worked for me when I owned a mortgage company, but she quit when she was a teenager and said she wanted to get a real job working for somebody else. I said, “Go knock yourself out.” She came back and said, “Show me what you guys do.” That dragged me back into the business. I’m doing it with love. It’s a labor of love. That’s what got me back on track again. We’re buying a lot of stuff now, a lot for me but not by your numbers.

Listen to the full podcast episode here: https://weclosenotes.com/ep-476-performing-notes-with-desi-arnaz/