In this episode, Jonathan Greene sits down with Scott Carson, known as “The Note Guy,” to unpack one of real estate’s most misunderstood investment strategies: non-performing notes. Scott shares how experiencing foreclosure himself early in his investing career shaped the way he approaches distressed assets today—not as opportunities to take homes, but as opportunities to create solutions.
Scott explains why note investing often succeeds where traditional real estate investing becomes difficult. Instead of managing tenants, rehabs, and maintenance headaches, note investors acquire debt positions and focus on helping borrowers return to performing status—or finding alternative paths that minimize long-term damage. He also breaks down why buying distressed debt creates flexibility that can benefit investors, homeowners, and neighborhoods at the same time.
Jonathan and Scott also explore how today’s market conditions—from rising costs and shifting lending conditions to investor overextension—are creating new opportunities in the note space. Along the way, they discuss common mistakes new investors make, why relationships matter more than deal portals, and how learning the system before scaling is often the key to long-term success.
In this episode, you will hear:
- Why non-performing notes can become opportunities instead of foreclosures
- How buying debt differs from buying physical real estate
- Why helping borrowers often creates better outcomes than taking properties back
- How distress creates opportunity during changing market cycles
- Where new note investors can start and what mistakes to avoid
- Why systems, relationships, and patience matter more than flashy investing trends
Listen the episode here → zenandtheartofrealestateinvesting.com/podcast/357