NIME 33 | How To Use Podio


Managing notes can be overwhelming, especially if you’re looking at multiple possibilities. It can get difficult to recall information at the top of your head, while keeping the data in one tool can be limiting. Chad Urbshott shows us how he manages his projects using Podio. He started using Podio to track bids and was able to customize it to suggest bid prices calculated from different factors. Liking the flexibility, customizability, and overall functionality of Podio, he now uses it to create checklists of due diligence tasks, set up reminders, and other things that will help any investor, whether new or seasoned, get up to speed with their need for organization and efficiency.

Listen to the podcast here:

Using Podio To Manage Your Note Data with Chad Urbshott

We have a great session with Chad Urbshott. If you haven’t checked out my book, Real Estate Note Investing Mentorship, it’s on Amazon. Without further ado, I have Chad here. Chad, how are you doing sir?

I’m fantastic although I woke up with a feeling like I’m coming down with something, aching muscles and what have you. I dragged my butt in the office and seminar. If I seem a little drowsy, that’s probably why. I’m doing great otherwise.

Thank you. This is such an important topic, project management. We don’t touch on it enough. What I want to emphasize for everyone is look at what Chad has put together with project management, Podio. If you’re out there especially on the newer side or even seasoned, it doesn’t matter, if you’re looking to connect with people that are doing things the right way, people with good systems in place, then you need to be looking at people like Chad. He has his stuff together and he has good systems in place, good scalability. If you’re going after the large school of fish, keep that in mind. I’m going to let Chad do his thing. You know the ins and outs of Podio and the highlights that are significant for note investors. As long as you feel like you’re touching on all those, go ahead and do some rambling.

I’m not sure where to begin, whether showing how to use Podio, but what I’ll do is I’ll share how I’ve got it set up. I can teach you how to roughly make changes to this as we go to give you a sense of flexibility in the system. Right out of the box, Podio is a little bit overwhelming when you first dive into this program. I started using it a few years ago when I was doing fix and flips and doing turnkey rentals. I first started using it for tracking bids. I was putting offers on properties because the time was probably putting in five to ten a week at least. As everybody knows, you only get maybe one in ten, maybe one in twenty out of all the bids you put in. I needed something to track what I was bidding on. I went from there and I developed it into it would give me a bid price to spit out. I put in the Air Viva property, what I think the rehab was going to be, some other factors and it will spit out a bid price. That’s how it started and then I turned it into a project management tool as well for tracking rehabs.

I partnered up with a guy that was doing through turnkey rentals up in Cleveland and we were doing dozens at a time. They didn’t have a good tracking system for anything. It was all in spreadsheets. I helped set that up and it was great. We could use it out in the field. The guys had iPads. They could go into a property and check off all the things that were being completed as time went on. When I eventually switched over to the note business which is full-time about a year, year-and-a-half ago, I hadn’t been using Podio for a bit and I thought I need to start tracking all my notes and all the offers I was making. I started from scratch because it’s a completely different business, but since I knew what it was, it was rather seamless for me to set it up for the note business.

What I like about Podio, even though it’s very overwhelming under the box is it is completely customizable and flexible to meet your own business or how you think and work. If you set it up in a certain way and you don’t like it, you can go in and change it again. That’s what sets Podio apart from a lot of other programs out there. There are other programs like Zoho. I know it’s fairly customizable as well and a few others, but back when it was fix the flips, I fell in love with Podio and started using it. I know a people out there use Pipedrive, I toyed around a little bit. It’s very good too but I found that it was too regimented how it came out of the box and it wasn’t that much flexibility with it. I couldn’t change all that much and then the number one thing is they didn’t have automation set up in it.

NIME 33 | How To Use Podio

How To Use Podio: Podio is completely customizable to meet your business needs.


I understand that automation is coming out in it now but that was one of the major drawbacks of the program at the time. As you’ll see as I go through Podio, how the automation helps you with setting reminders and giving you tasks lists that will automatically pop up when you hit certain buttons. That’s what I like about Podio. I’ll get started on this. When you first log in, I don’t use this screen that much. It’s called the activity screen. Podio is set up to run large organizations from the one-man show to 1,000 people. This is more like a company intranet, this page, so you can see all the activity done by other people. It’s just myself in here, but everything that goes along with anything you’re connected to, it will show.

From that perspective, when you bring on other team members and you scale up, it’s cloud-based. Everyone can have access to the same file, so they can add to it.

From what I understand with Pipedrive, I don’t think it has the ability to add team members. That’s what I heard. I know Trello you can team members. Certain systems you can, but Podio you definitely can add as many team members as you want. This is the first screen. When you first set up, that’s my company name, EquiGrowth Capital. These are called workspaces. I’ve got one for notes, properties when I was doing fix and flips, tracking all the bids. Project management was tracking all the rehabs and then I had my turnkey stuff down here, but we had dissolved that partnership, so I was paying for it. I was like, “I’m not paying for it anymore,” so I lost that. You can set this up. You can customize this however you want. You can have your tasks up there. As you noticed that turns into a cross. You can move this around and you can put in reports here as well. I don’t have anything fancy set up because I don’t go to this page all that often. The main thing I like to look at is how many bids I’ve got on the goal at any given time and how many I’ve got in due diligence.

When you put a bid in on a note, you will update that information in your pipeline and then it will reflect. If it’s one note that you’re bidding on, it will show up as one. It will show up as twelve now, it will move the number from eleven to twelve. Can you do a tape that you’re bidding on and it would move it eleven to twelve?

I’ll show you my bid analysis app. I’ll show you how it works. You can either add one manually or you can import a tape in Excel. It’s neat how a lot of programs out there have capabilities nowadays, but it’s pretty neat how you can import a tape. Still, it’s not a CRM tool but you can use it for CRM, for keeping track of your contacts and all the communication you have with them. I use it somewhat as a CRM basis. We use Mailchimp as well and now there’s an integration tool you can use to integrate Mailchimp with Podio. I haven’t got that set up yet, but I have any contacts that are associated with any of the files I’m working on.

Do you also use this for borrower relations? Do you use this for the borrower’s information too or just your CRM? I keep them separate, personally.

Even if you only have one note and you plan on scaling from there, it’s a good idea to start with Podio and learn the program as you go. Click To Tweet

I don’t do any borrower outreach myself. I let my servicers and specialty services deal with that, but by all means you could definitely set this up. You can add another category in here as a borrower and you can track all your borrowers in that case. It’s customizable and flexible that the world’s your oyster of this thing. I do keep track of investors, potential investors. If I got a deal, I don’t send it out to my whole network of investors. I’ll interview them and say, “What criteria? What deals are you looking for? What’s your investment threshold, dollar amount thing?” I’ll keep track of that in here. When a couple of deals come up, I’ll fire it off and say, “I think this is going to fit your criteria.” This is how I work.

You can also split them. Contacts are part of organizations, so I’ve got an organization box if they’re part of a company such as a law firm. David Drescher here is with Wirbicki Law, Erin Rose is with Bowen Quinn in Florida. You can categorize this however you want. You can also have this on a table view. One thing you’ll notice is it’s slow now because I’ve done this a couple of times with individual people showing Podio. Whenever we’re on a webinar, it tends to slow it down because Zoom takes so much bandwidth. It might seem a little slow.

Are the organizations the company name and the category is industry?

Yes, exactly. You can set this up however you please. I’ve got him set up as a contact. He’s part of Wirbicki Law. This should be linked and I should be able to click on it and it will take me to the organization. I don’t use it for CRM, just a little bit here and there. The true power comes in keeping track of all your notes. The way this is set up is you’ve got your company. You pay for each company you set up within Podio if you’re going to do the upgrade to the $9 or the $4 a month. Each company you set up, you have to pay for that. Every individual you add to your organization, you also pay for it. These are all called workspaces. If you’ve got different divisions in your business, you can set these up as a workspace. Across the top, you’ll see apps. You can add an app as it goes. These are all customizable. You can rename these. You can put icons. They’ve got hundreds of icons you can identify. These are all I’ve added myself. I set this up in the spring, probably March, April timeframe I started using it. It took me a couple of months to get it to the point where I want, I was comfortable using it and tracking notes. It’s been a few months now that I’ve been using this. Those DEMO Holdings, I put this in here just so I can demonstrate. I didn’t want to show all the confidential information, some of the current notes that I hold.

Do you think someone new out of the gate should get set up on Podio the way you have? Do you think they should wait until they get some momentum, get some notes in the door?

I think if you have say ten notes or up to ten notes, you should be able to handle by using email and tracking on a spreadsheet. Once you get over that mark or maybe five, it depends on how good you can hold things in your head. If you’re good at remembering everything and not having to remind yourself or good at reminding yourself that something needs to be done, then between five and ten you probably don’t need to. Once you get to ten and over, it’s hard to keep track of things in your head in spreadsheets. Out of the gate, even if you have one and you plan on scaling from there, it’s a good idea to start it with something like Podio and you can learn the program as you go. The nice thing about Podio is you can customize it as you go. The way I’ve got the setup is I’ve got to set up the way I think.

NIME 33 | How To Use Podio

How To Use Podio: From bidding, performing due diligence, or holding a note, you can make Podio work for you.


As I’m going through my steps, my stages when I’m bidding, when I’m doing due diligence and when I’m holding a note in my portfolio, there are different ways to think about doing things and that’s just the way I’ve got Podio setup. I change this thing on a daily basis. I’m going in there and like, “This isn’t working,” or it’s more like I’m adding stuff all the time. It’s like, “I should add that to Podio where I can add myself a reminder.” I had the property, we had to go through eviction and changes to REO. All of a sudden I was like, “I’ve got a contract with insurance to tell them it’s vacant, change it from occupied to vacant. I have to get it de-boarded.” I’ve got a couple of other things like, “I should be adding those tasks to Podio.” I haven’t done it yet, but this is one of those things that, “I can add that to Podio.” It will give me reminders to do all that stuff as soon as I hit the REO button.

You could have a whole checklist like change locks, have a realtor and stuff for cleanout. You could have a whole laundry list for yourself once you click an REO button.

I haven’t done this, but I’ve got a rehab in here. You can have an REO app if you wanted and put everything into the REO category. You can have a brand new app with all the steps you go through once it’s an REO. I might probably do that because I’m certainly getting more REOs than I care for and it is getting harder to keep track of everything. The main three stages are you’re bidding on a note once you get a tape in. If the bid is accepted, then you go into due diligence stage. If you get your offer accepted or if you agree to buy the note, then it goes into your portfolio. I call it holding. Some other people may call it assets, whatever the case may be. These are the main three apps here that I use on a consistent basis. Emails I’ll get into. Holdings activities, I use this periodically. Rehab costs are when I’m doing a rehab on a property. Financials, this is holding, I wish it was pulled from my accounting software automatically but there just isn’t an API set up yet.

An API is where you can pull data from another software into another one. Unfortunately, it’s not quite there yet, but it literally takes me five minutes to do this. I’ll export all of the pertinent information from my accounting software into a spreadsheet and then I can copy my spreadsheet into this financials app. Within my holdings app, it will give me the financial breakdown of the assets. I’ll dive into the bid analysis. I’m showing some of the loss bids. I don’t have everything in here. Martin, you asked me a question before, can you do a tape? If I’m bidding $30,000 to $50,000 and I think they’re long shots, I probably won’t import it in here. It’s probably hundreds on here that I haven’t put in because quite often I’ll get a tape and a seller says, “Can you give me a bid in a day?” I can give you a bid but it’s going to be based on the information you’ve provided and I’ll spit it in. I’ll put it into my portfolio modeler and spit our price and say, “Here’s my price.” If they come back and I got the offers accepted, then I’ll put it into my bid analysis and then go into due diligence.

We’ve got a question, “When importing tapes, how do you normalize for all the different tape format?”

There are a few fields I use. Typically, the address, the seller’s value, are what you see on here. If I’ve identified any taxes outstanding, if I’ve come up with a revised value like the very first one, a good case in point, they said it was worth $81,000 and I had a value of $40,000 at first glance. I think I’ve got UPB along the way somewhere, it’s probably not showing up. In the table view, there’s a bunch more which I’ll share with you, but you can see anything that’s checked will show up in the top row in the table format. Anything you don’t want to show up, you can uncheck it. You can set it up as many views as you want along the side. The number of views might be limited to twenty views. Let’s say, “I don’t want to see any taxes outstanding,” so I click that. That column disappears and I can save this as a new view. I’ll show you once I get into due diligence. You can view these as cards. You can view these as a table. You can view these as an activity. I don’t ever use the activity stream.

Organizing your tasks and data will show you which ones you need to do from those that you can delegate to others. Click To Tweet

We can go into due diligence now, it’s probably a good time. I would emphasize what Chad said originally is he’s put a lot of thought into how he’s set this up. You and your note business is going to be different. You can take bits and pieces of what he’s done but as far as his model, it’s his in a unique way.

I’ll go through one example of a bid. I think this is one I didn’t get accepted. The first thing you’ll notice is you can put those addresses in manually or you can import it from the tape. This automatically pulls up the map and you can click on that map and it will take you to Google Maps. There’s some coding behind this that it will automatically pull up the Google Street View so I don’t have to type it in. This is an add-on that I have, it will bring in all the Zillow data. It gives you those Zestimate, rent Zestimate. For some reason it didn’t pop all this data, but it usually gives that data. What I like about this little add-on is I can quickly look at the comparables for this particular property. These are Zillow comparables. Usually, it’s anywhere from 5 to 30. You can scroll down and you can see, “These things are all over the buddy map.” It’s not that much helpful. Click on the map to see where they are. This was Belleville, Illinois which is a bit of a rule.

Are you limited in what it can pull from? Can it pull from RealtyTrac or does it have to be like Zillow?

This particular app or this add-on is Zillow-based. It gives you what all the comparables are and you can hover above. It tells you the last sold price for beds, baths. This app is an add-on. It’s not something that I developed myself. It’s free. If you want to remove this watermark, it’s $5 a month. Another nice thing about Podio is you can add hyperlinks on the websites. I use Redfin quite a bit so if I want to pull up Redfin, it’s right there. I don’t have to go back and try to find that link again. It’s all stored and I can have as many as I want. I can click in. I can fill in with a Zillow link or one of the Trulia link. There was a sell order value, UPB, which it didn’t put in this case. This is handy, the link to the county site. I can click on that. I don’t have to go back and find it again. It takes me right to it. Not every single county will take you directly to that particular property but at least it will take you to the county site in question. I’d have to put the address here in this case, but at least I don’t have to go back and find the county site. Taxes outstanding, these are just comments. These fields are all customizable.

Will any link work in most cases?

It depends on the county. Some of it will take you directly to that property. If you go into a county site, you search the property and it takes you to the property. It’s designated by the personal number or something. You can copy that entire link and put it in this county links and it will take you right to the property again. The majority of them do work. Not every single one of them does but a majority of them typically work. That’s submitted a bid based on my revised value. Was the bid accepted? No. Probably because they thought it was worth $81,000 is what the seller had in their tape. I’ll teach you a little bit as we’re going here and how easy this is to customize. All these fields you can change. You can go in here and change the spelling or you can change anything you want. You can add. You could move this around if you wanted this up here instead of down there. The graphical user interface is very easy to navigate around once you get the hang of it

NIME 33 | How To Use Podio

How To Use Podio: Podio gives you the ability to collate a lot of information and functions in one dashboard.


One of the most powerful parts of Podio is the types of fields. Most CRM and project management programs do have this. However, Podio has got a calculation field and I don’t think I’ve got any setup. I’ll share with you in one of the next apps. The calculation field is probably the most powerful part of Podio. It’s pretty amazing what it will do and that’s the most customizable part of Podio is having the ability to do some ­in calculations for you. That’s a brief overview of how my bid analysis app is set up. We’ll go to the due diligence. I set up some demo views for the due diligence so that it’s not pulling up any data.

It seems like there is an overlap between bidding and due diligence.

One thing I should have mentioned is under the bid analysis tab or app, and this is where the automation comes into play that I love about Podio. If this bid got accepted and I click yes, it will transfer all this information over to the due diligence app. Let’s go to due diligence. I won’t get into this too much, but I’ll open up. One of the examples here, this is a funny story, I was in the middle of due diligence on this. I think Scott Van Kampen might be on this. I saw him sign up for your webinar. I was halfway through it and I got this servicing note and it said it was already sold to someone else. It was sold to Second Chance Properties. I’m like, “I know who owns that.” I went back to the seller and I’m like, “Was this already sold by any chance?” He looks at his notes and he goes, “Yeah, sorry it was.” That’s like wasting your time. I didn’t get through much of the due diligence on this because I found out halfway through that it was finally sold to. I’ll pull up one where I did full due diligence on so I can give you a better sense of.

Let’s say on your bid analysis app, you’re bidding on 50 and you get ten accepted. You click on the yes, they all get moved over to due diligence. This is what I call my due diligence checklist. There are seven or eight things that I typically look for, taxes, reviewing the collateral file, ordering a total report and reviewing it, checking for bankruptcy. I decided this so you can see there’s not much activity under that. Check to see if utilities are on, code enforcement issues, if I’ve got a drive-by done and if I had done a BPO. What I like about Podio is you can set up so it’s like a visually-based system as well. It’s like a Kanban system. You can see if I was doing due diligence on all of these, I’m like, “I still have to do the total reports on all these. I’ve got to do bankruptcy checks in all these. I’ve got to do to all the ones that haven’t checked off here.”

It’s visually appealing.

That’s what I like about Podio is you can set these views up almost any way you can imagine. The flexibility on this is unbelievable. These you can’t edit directly from this screen. I can’t go in there and click on this and say, “Yes, I’ve checked the collateral.” However, there’s a bunch of add-on tools that additional developers have supplied with Podio. If I click on this, it opens up a spreadsheet format.

Don’t hesitate to reach out to other investors to pick their brains and see if their style is a good fit for what you bring in the business. Click To Tweet

We’ve got a question, “Are you building functionality task to VAs?” Do you feel at some point you’re going to use virtual assistants and you’re going to assign different tasks to them?

Yeah, absolutely. It takes up probably the most amount of time is doing due diligence and this is definitely something that you could pass off to an assistant and say, “You’ve got to go through and check all these boxes.”

We’ve got another question, “Can you categorize a number of assets as belonging to one tape?”

Yeah, in my bid analysis app and in here as well, I’ve got sellers and you can attach them also. You can put them in an organization. I’m not going to click on it because I’ve got a bunch of sellers in here.

Can’t you do a column to the right of location and put the seller’s name?

Yeah. I have the sellers in here. When in Podio, you can hide fields as well. When I was on the bid analysis app, there’s a seller field in here but I’ve got hidden so I’m not giving it away. Let’s open up due diligence. If anybody ever sees us on a tape, you’ll probably see in a very common tape it’s going around. Don’t touch this with a ten-foot pole, I paid $300, $400 to realize that there’s $50,000 of state liens against this property. Saint Dennis Court in Kokomo, Indiana, steer clear of it. It’s set up very similar to how the bid analysis was set up. The due diligence stage, I can click on that, if it’s done or not, you can unclick it. These were the eight stages I go through. It brings up Google Street View. This will link you back to the bid analysis. If you ever want to go back to see what, you can click on that. It will take you right back to the bid app to see what information is in there. The listing links, this is all similar, the county link. In here is where I put a bit more information in bed, baths, square footage.

NIME 33 | How To Use Podio

How To Use Podio: Due diligence takes the most amount of time, so use all the resources you have from programs like Podio or help from virtual assistants.


This is how it’s all customized so you can set up how you want. Here is what their value was. I think that was pretty close. There was the one where the bid price was. This is some of the true power of Podio. The taxes amount, I didn’t put the tax lien in there, but I’ve got comments set up for each one of these due diligence points that I go through. You can add as much or as little comments on here as you want. I like to keep notes especially for future reference. If I end up buying the asset, I can go back and say, “What did I think when I bought this one?” When I see that issue of the title, I can go back and see if I made a comment on here. I’ve got the set up so if I click on any one of these, it will change the colors there as well. It’s automation there.

Are you going to go into PACER manually and check for BK?

Yeah, exactly. If it’s indicated on a tape that there’s been BK in the past, I’ll go in and check it out. If it’s a BK7 or if it’s within the last couple of years, I’ll go on and check it out. If it was a few years ago, that information is pretty much irrelevant now. A person could be making triple what he was then or making zero from. It depends on how far back it is. If it was a BK13 and it’s current, yes, I’ll definitely going to go back and get all the details on it. I’m checking utilities. You can put the links to the websites and click on that, it takes you right there. You can put notes in and I spoke with so-and-so. There’s an issue but it was complied with, there are no fines. Drive-by completed, yes. I’ve got a realtor, I contacted this property management company, put some notes in here about that. Did I get a BPO? No, because he gave me his approximate value of what the property was. I could put the final value in there if I want. These are all customizable.

You truly gear up. You majorly gear up to take back the property from the get-go?

Not to take it back, definitely not. I like to go into every deal knowing what the strategy is. The better I can get to entering a deal if I know what is going to be the outcome of it, it sets you up so that you can start off. You can give it to your servicer and say, “Here’s what I think is going to happen with this borrower. Let’s try this. If that doesn’t work, then let’s try plan B. If that doesn’t work, plan C.” I like to go on every deal with a certain strategy in mind as opposed to buying it. At first I would just buy them blankly, not that I didn’t know what I was doing, but not knowing what was going to happen to go into it. I like to know as much information ahead of time.

All of us did that. Do you navigate your servicer around based on your findings?

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Yes. I only use Madison, but I use a couple of specialty servicers, mainly one. When I board the loan with them, I’ll hop on the call or shoot them an email saying, “This is what things can happen with this. Let’s try this strategy to start.” This one I didn’t buy. Usually, I make notes as to why and I highlight it in red. That’s another cool thing about this is you can change colors and bold things so you can make changes on the go. Another cool thing about Podio is as you make changes, it shows up. Anytime you go into review something again, it updates it on the side. You can see it was changed. You can go back and you can review what changes were made. You can revert back to the previous changes. We don’t have a lot of time to go through all the details of Podio, but I’m trying to tell how I got it set up for notes. I spend days and days going through all of the bells and whistles of Podio.

I fully see now that this should be something someone should do from day one. As they grow their systems, their business and their note inventory, they’re tweaking this.

I still tweak this thing almost every day I’m on here. That’s what I like about it is you learn as you go and you can keep customizing this to working more efficiently for you. If I were to buy this one, I would click yes, and then you could see the little pop up there, so be careful. If I check yes on this, this will set off a whole cascade of automation. It will set up not all this information, but it transfers all this information over to the holding app. It will then set up a whole slew of tasks not necessarily all at once, but I can post date them into the future. This is one of the biggest bells and whistles of Podio.

I’ve got this all set up in what’s called a program called GlobiFlow which sits on top of Podio which does all the automation. It was developed by a third-party but Podio eventually bought them about 2017, I think it was. At the time, I was using a free version of Podio and the GlobiFlow was $9 a month. I was paying $9 a month to do exactly what I’m doing now, but when they bought GlobiFlow, all of a sudden they jacked the price up to $24 a month. In any event, it’s not the end of the world. It’s still a pretty good price for the power of this thing. I set up DEMO Holdings and I put a skull there so I know to never use it or delete it later on. I set up a couple of ones that I’ve sold.

On your due diligence spreadsheet or I think it was your bid analysis where you have all the notes that you’re looking at and the different categories of due diligence that you’re performing, can you go to that? The bid analysis where it shows the table of that due diligence matrix where you have BPO, title and all of that and you list all the notes. Based on your determination when you do PACER, when you go to the county website, tax liens, etc. Do you have a grading system that you have in place, a column where you’re going to grade it? If you’re going to be bidding on four notes, you know that, “I’m going to bid $0.20 on this note, $0.30 on this note, $0.40 on this note.”

No, I’ve got my ROI calculator set up. I call it my pricing modeler because it’s a lot more than ROI because I’ve got seven or eight different exit scenarios set up in it. With each one of those exit scenarios, there are different costs that come along with it. I never price it based on the percentage of the dollar. I’ll go into each one individually and I’ll say, “This one looks like they’re going to contest it, judging by the servicing notes.” I’ll add a couple of grand into the legal fees because I know that it’s probably going to cost a lot more in this versus going to drag this thing out through the mud. That’s one example. If it’s a paying BK, it’s already a performing note. I’ll set it up as a performing note, but there’s a good chance that they might stop paying again, which quite often happens in BK. I also want to compare it with going straight to foreclosure. I might add in a few months of payments and then the future I know it’s going to foreclose. I’ve got it set up like that where it tries to capture every single situation. I never just bid on a certain percentage on the dollar.

NIME 33 | How To Use Podio

How To Use Podio: Podio gives you the ability to organize information so that you can determine at a glance which strategies you need to implement.


At the end of the day, if you had an A, B, C, D scoring system, then you take it. Perhaps it would be a preferred exit strategy because your end bid price to the seller has to be usually a cent on the dollar. You’re looking at whatever cash-on-cash returns based on various exit strategies. I assume you’re picking the most likely exit strategy to base your pricing on.

No, I pick the worst-case scenario. Whatever the lowest ROI would be for that particular strategy, I will base the price on that particular note based on that. When I’m bidding on more than one, two, three or four dozen or a couple of dozen, the way my pricing model is set up is I bring all the information for each note and each strategy and it blends it all together on a summary page. I try to come up with one overall ROI number and I try to hit a certain ROI number based on if that was going to be a portfolio.

It’s completely different for seconds when you’re bidding on seconds, but it is good you’re bidding at the worst-case scenario and bidding based on that or if you’re bidding on the tape.

When I first had it set up, my ROI calculator or pricing modeler, every single one I had it. Foreclosure is the worst exit scenario. Many start getting into the notes that are very low in the value. Let’s say the loan is only $30,000, but the property is worth $100,000, your foreclosure is not going to be your worst-case scenario anymore, it’s going to be a loan mod probably. I had to re-jig my numbers so that it took that into account as well. Let’s go over to the holdings. I named this DEMO Holdings. I set up this app especially for the demo itself wasn’t going to give away all the confidential information. Here’s a couple that sold. This was in the task matrix view. Let’s say I get two out of that five due diligence I was looking at, I can automatically put into this. This is a task viewer. I can see if I got to get insurance. Have I got it boarded, put in storage? Have deeds assigned been recorded and taxes, insurance escrowed?

Those are the main things I usually do right off the bat. I can also look at this in the table view. You can change this. You can set up all these fields. I’ve got quite a few on here. You see as many as you want in the table format. This is set up like the other two apps, the location at the very beginning. There’s another guy out there, his name is Richard. He’s promoting Podio to hold notes and it’s called Note Rules. This navigation system, he had this setup. It’s a pretty cool idea. If you scroll down, there’s a lot of information on here. I was scrolling up and down. You can click on the link and it takes you right to it. It takes you back to the top. That’s a cool little feature added not too long ago.

Loan status, people may have different categories. This is how I’ve set mine up. Right at the beginning of boarding, probably go right into loss mitigation, you might get lucky and get a trial payment plan off the bat. If it’s going to deed in lieu of foreclosure, whether it’s performing. If it was performing, it’s now in default, some bankruptcy, REO and then sold. Those are the categories I use but everybody’s different, they might set it up a different way. This takes you back to the due diligence folder. If I’m going to go back and look at some of the due diligence I did on this, I can do that and that’s a picture you can put of the property, rate within Podio. The listing links for everyone to go and look at some of the details on Redfin or Zillow or whatever site you may want to use. County links, same as before, property details. This is a calculation field that puts all this stuff all on one line because I don’t know if you know some Podio. It’s one of the drawbacks is when you put a field in, they’re all row by row and you can’t put them in columns, which is a real pain in the butt if you have way too much information here.

You’ve got to scroll it out. It’s definitely one of the drawbacks of Podio, but there are ways of displaying data all on a line versus row by row. Loan details, this is the information that I like. I don’t put in how many payments have been made or I guess I do have P&I here. Most of the calculations that are done by the servicers, I don’t put it in here. It’s too much work to take that information from the source or dump it all in here. Go to the servicers portal and dig it all up yourself. It’d be nice to have an API or I could pull the data into here but I don’t know if Madison will ever go that far and give all that information. I know some servicers do. Unless I have 500 or 1,000 notes, I’ll probably never do that because I can just go to the servicer’s site. The important information about a purchase that when I sold it. This is an automatic calculation here. This borrower name, I meant to hide this.

It’s a phony name anyway.

That was what the estimated value of the property was. That’s what I purchased it for. This is a cool feature. Taxes or liens outstanding, here’s where you can keep track of the taxes that are coming up if you want to use it like this. There are hidden fields in here so you can show or hide fields as you’re going through.

Are you using Madison to track your taxes?

Some loans that I do, if it looks like they’re going to be paying in the future, then I’ll get the message. If not, then I’ll keep tracking myself because they charge you an extra $15 a month, but I can do this in Podio. I think this was an outstanding tax bill that they had but if you wanted to put in the next taxes that are coming up, you could put in the future. This goes right into your calendar so it can pop up and remind you that, “The taxes are coming up due.”

Try to escrow too, because you do a lot of firsts you’re trying to escrow.

NIME 33 | How To Use Podio

How To Use Podio: If a property’s going to reach foreclosure, don’t bother escrowing it.


It depends on whether they’re paying or not. If I know something’s probably going to foreclosure, I don’t bother escrowing it because there’s no sense. You’re never going to collect payments and you’re paying an extra $15 a month for nothing. This is the stuff that’s done right out of the box. If I were to have clicked on the due diligence folder, if I had to click purchasing this note and I clicked yes, since I moved this over to DEMO Holdings, it didn’t take the tasks with me. I think I’ve got six, three out of the bat. The most common is get insurance, board it, it’s somewhere central storage, get the deeds recorded, assignments and serve escrowing if you want. That automatically pops up. I use Outlook a lot and I’ll tell how this quasi works in Podio. I know that’s a big beef with a lot of people.

I use Outlook like Office 365. It’s come a long way in the last few years. I used to use Google everything and then Office ramped up and put everything in the cloud now so I’ve migrated back to Outlook and Excel. I also wanted the most updated version of Excel. I need it now, just some of the stuff I do with it. I’ve got this completely integrated with Microsoft to Outlook. Anything I put into a task here, it will put it into my task lists in Outlook and it will give me reminders and email me. I’m not only just getting emailed. It is annoying. It will email me and it will pop up on my task list in Outlook and it will pop up in here too so nothing gets missed.

You’re your own virtual assistant.

The nice thing is if you complete a task within Podio, it automatically completes them in Outlook, vice versa. They talk back and forth. That’s pretty cool.

Everything you’ve seen here with how Chad runs his business, this is someone that I would strongly encourage everyone to reach out to, see how you can work with him on any capacity. Whatever he’s looking for, investors, partners, peers, who cares, get in touch with him, get to know him and spend some time with them. See if it’s a good fit for what you bring and what he brings because he has this stuff together, there’s no doubt about it. Chad Urbshott, I thank you for bearing in with your cold and everything else and sticking with us in the program.

Thanks for having me on, Martin. I apologize I didn’t get all the way through this, but as you can see there’s so much information in Podio. It’s hard to catch everything.

It feels like I’m going to do webinars for the rest of my life so maybe we’ll have a round two or something.

We could do another one where I could start from scratch and teach people how to start setting it up for themselves if they want.

Thank you. I’m so grateful you joined us. I’m so grateful you spent your time with us in contributing. I want to thank our audience from the bottom of my heart and have a great blessed week. Take care.

Thanks. Take care.

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About Chad Urbshott

NIME 33 | How To Use PodioChad has been involved in real estate and construction nearly his entire life. He spent the first several years of his career engineering significant buildings such as an airport terminal and several casinos. From here, he moved into the construction and development aspect of the business for a prominent multi-billion dollar Constructor, working with developers to substantiate the viability of real estate developments who then oversaw their design and construction.