In this video we learn how to buy distressed notes. Most real estate investors spend their careers chasing the property. Scott Carlson built his by buying the debt instead. In this conversation, PropertyOnion’s Tony Stern sits down with Scott, “The Note Guy” and CEO of WeCloseNotes.com, to break down how anyone can become the bank without ever dealing with toilets, tenants, or trash. Scott walks through how he buys nonperforming notes directly from banks at steep discounts, why a solo investor with $50,000 can compete by making ten offers instead of one, and which states offer the best opportunities heading into 2026. You will also learn how to read a property’s condition from the outside, why you should never fall in love with the house before the numbers make sense, and the single biggest mistake that keeps most investors stuck on the wrong side of the payment stream. Whether you want to actively buy notes or partner passively for a steady return, this is the blueprint for owning the paper instead of the property. It’s not hard to learn how to buy distressed notes with Scott Carson’s advice and expertise.