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Double Check the Worst Case with Scott Carson

Background: Scott Carson

  • CEO of in Austin, Texas
  • Real estate investor since 2002
  • Focused on distressed mortgage and note industry since 2008
  • Buys and sells non-performing mortgages from banks and hedge funds US properties
  • Host of popular podcast, The Note Closers Show
  • Sought after speaker on distressed debt, marketing and raising private capital
  • Featured in Investor’s Business Daily, The Wall Street Journal and

Scott’s worst investment ever

  • Scott and a consortium invested in distressed home loans in Chicago
  • The deal went south and legal proceedings dragged on
  • He bought out fellow investors and closed the deal, but lost US$250,000 in the process

Scott’s takeaways

  • Always double-check legal liabilities and processes
  • Plan for the worst-case scenario
  • Reach out for help without hesitation
  • Take it easy

My takeaways

  • So important to reach out for help when times are tough
  • ‘Stress is a killer’
  • You don’t need to draw a confrontation, just stay calm
  • Separate research on return from research on risk

Actionable advice

  • If it’s too good to be true it probably is
  • Seek counsel rather than seeking advice
  • Listen carefully when that counsel is delivered

My Worst Investment Ever six main categories of mistakes:

  1. Failed to do their own research
  2. Failed to properly assess and manage risk
  3. Were driven by emotion or flawed thinking
  4. Misplaced trust
  5. Failed to monitor their investment
  6. Invested in a start-up company

Listen to the full episode: iTunes, Stitcher, SpotifyOthers

DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.