Jan 2, 2024
Randall Miller is the President and CEO of Randall S. Miller & Associates, a Michigan-based law firm that specializes in representing mortgage lenders, servicers, financial institutions, credit unions, and private investors. Randall has been in practice for over 30 years now and he is on the show today to help us better understand the best ways we can protect ourselves in this business.
Listen now to learn more about the reality of investing in defaulted mortgages and the best ways you can protect yourself as a real estate professional today!
Key Talking Points of the Episode
00:00 Introduction
00:36 Who is Randall Miller?
01:56 What should real estate entrepreneurs be focused on today?
03:18 What is the role of default servicing in real estate?
04:35 What should investors be considering before investing in mortgage notes?
06:51 How does buying mortgage notes really work?
08:20 What mistakes are people making when buying notes from auctions?
10:34 How do tenants in properties in default change the situation?
12:47 How important is it to consult with an experienced attorney before buying notes?
13:46 Why is it important to be working with a local attorney on your deals?
15:16 What is the reality of being on the frontlines of the default servicing industry?
19:08 What makes a good legal counsel for real estate investors?
26:26 What is the problem with just listening to gurus on social media?
28:28 What are some things investors need to know when buying mortgage notes?
32:18 How can real estate professionals today protect themselves better?
34:29 What do investors need to think about the most when buying mortgage notes?
38:23 Why is it important to have the right attorney on your team as a real estate investor?
40:13 What services does Randall S. Miller & Associates offer?
41:50 How can you connect with Randall and his team?
Quotables
“If you’re buying something at auction, you’re not
buying a house. You’re buying the note, but it doesn’t mean that
you own the property yet and there are certain things that have to
take place before you can make a move.”
“Keep in mind – you gotta know where you stand, you gotta know where you are, and you have to have an attorney advise you as to really what is going on, and that attorney has to be from the state where you’re buying that note.”
Links
Phone: Randall Miller
(248) 335 - 0800
Email: Randall Miller
Website: RCN Capital
https://www.rcncapital.com/podcast
Website: REI INK