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Feb. 7, 2022

17 | How to Become a Billionaire with Note Investing with Ben Fraser

17 | How to Become a Billionaire with Note Investing with Ben Fraser

Ben Fraser is the VP of Finance at Aspen Funds, a private fund manager that operates real estate funds for investors looking to diversify outside of Wall Street.   Prior to Aspen, Ben was a commercial lender at First Business Bank specializing in...


Ben Fraser is the VP of Finance at Aspen Funds, a private fund manager that operates real estate funds for investors looking to diversify outside of Wall Street.

 

Prior to Aspen, Ben was a commercial lender at First Business Bank specializing in government-backed loan originations (SBA & USDA), for one of the top SBA lenders in the nation. Prior to that, he was a commercial credit underwriter for Crossfirst Bank, personally responsible for underwriting over $125MM in C&I and CRE loans across a variety of industries.

 

Prior to that, he worked for Tortoise Capital Advisors, a boutique asset management firm in energy infrastructure investments, and helped grow their institutional managed accounts from ~$3BN AUM to ~$7BN AUM. Ben was responsible for responding to all institutional RFPs from interested institutional investors.

 

Ben completed his MBA from Azusa Pacific University, and his B.S. in Finance from the University of Kansas, graduating magna cum laude.

 

Let’s tune in to his story!

 

[00:01 - 05:23] Opening Segment

 

  • Welcome to the podcast!
  • Get to know our guest Ben Fraser
    • Bio
    • Ben shares about his contributions at Aspen Funds

 

[05:24 - 36:09] How to Become a Billionaire with Note Investing

 

  • What are performing and non-performing mortgage notes?
    • Out of the great recession 
    • “We become the lender.”  The Edge of Being the Lender 
    • The Terrible T’s 
    • A great way to reduce your operational costs
  • Note Investing 101
    • How note underwriting is similar to multifamily properties
    • Unique Factors to Look At
  • Purchasing Mortgage Notes
    • Pretty much an evolution
    • Done through funds 
    • Purchased on equity and through investors
  • Simple Ways on How to Raise Your Capital
  • The Evolution of Aspen Funds
    • The goal is to diversify the asset classes
    • A Top-Down Approach to Catch the Trends
    • Ben talks about the different asset types they’re currently looking at
    • A huge lack of supply in multifamily rental
  • Ben’s Top Reasons on Why He Likes Multifamily and Self-Storage
  • The Legacy Round
    • Opportunities work better when present systems are enhanced
    • An Abundance Mindset

 

[36:10 - 44:12] Slice of Knowledge

 

  • Ben’s Last Words
    • “Find your purpose and find ways to leave an impact.”
  • One Slice of Wisdom
    • Power your strength as an individual and as a team member
  • Real Estate Multifamily Vocabulary
    • Internal Rate of Return
    • Cash on Cash 
    • Cap Rate
  • Books and Masterminds to Try
    • Exposure is the best way to learn
    • Marketing books 
  • Final words
  • Connect with our guest, Ben in the links below



Tweetable Quotes

 

“One of the cool things about notes is that the basis on each note is a lot lower than multifamily properties.” - Ben Fraser

 

“When you establish yourself as an authority and an expert in a particular niche and an area and you get in front of many people as you can, you can exponentially grow your investor base.” - Ben Fraser

 

“You can run fast alone but you can’t go as far.” - Ben Fraser

 

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Reach Ben through LinkedIn

Check out his website: https://aspenfunds.us/ 

Listen to Invest Like a Billionaire Podcast




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