Case Studies with Cody Cox
47:36 · 2018
Scott: We have a very special guest joining us from the Pacific Northwest, a good friend of ours who has done a lot of great things with his own note business over the last couple of years. He originally appeared on one of our Facebook Lives; one of the first ones we did along as a case study to check out before we rolled it into a podcast. We only thought it fair to bring this man, the myth, the legend, Cody Cox back on.
Cody: How are you, Scott?
Scott: I’m doing wonderful. Cody, why don’t share with everybody who you are, what you do, that kind of stuff?
Cody: First of all, I’m just this humble mortgage guy from Northeastern Oregon. I’ve been in the mortgage industry for over 35 years at this point in time. I’ve done most everything. I was a VP with a major national mortgage company. Currently, I still have a day job where I run a mortgage company essentially for the State of Oregon for the Veterans Association here. That keeps me busy. Basically, I was just calculating that takes about twelve hours out of my day. If I’m going to sleep seven hours, I’ve got to be really disciplined about trying to do this note business.
I got started in the note business probably about three years ago. It was more of a hobby at that particular time. I had little funds in an IRA and I was dabbling with that. Eventually, I decided that there’s a bigger and better way for me to do this and of course, that’s when I associated with you. We sat down on one of the Fast Tracks and came up with a little bit of a plan. I’m a little shy of the plan but nevertheless, I’m a whole lot better than I would have been had we not did that planning. For 2017, I think I’m going to finish with about seventeen assets that we acquired within the last twelve months and some of them we’re coming around. They’re maturing now. We’re seeing the backend side of these things, and some of them we’re still fighting with.
Scott: I’m glad that you shared the fact that you are putting in a full day of work job and you’ve got to commute, that goes along with it and all the good stuff as well because we have a lot of people that listen here on a regular basis they are still working full-time and trying to figure out the best way to manage it. It’s not the easiest thing when you are working full-time especially when you got a long commute back and forth to work as well too, don’t you?
Cody: Yeah. It’s about a 40-minute bus drive one way. That takes up and plus the time to get up. One of the things about the bus is you’re on somebody else’s schedule. You just can’t jump on the car when you want to go. It’s a matter of being there because the bus leaves without you. You’ve got to manage that time and to be honest, the transition has been a little tougher than I thought it would be. I thought that I could sit down and do these things at night but it takes a lot of effort and it takes some focus. Sometimes you just come home and I’m just a little pooped and I just want to sit down. It takes a little more discipline and it’s a little harder to transition than I anticipated it would be.