Most investors think about property when they think “real estate.” But there’s another side to the business—the paper behind the property.

A real estate note is simply a promise to pay secured by real estate. Notes can be bought, sold, or held—just like property.

For sellers, notes can be converted into cash today instead of waiting years for payments. For buyers, notes can generate steady income without the headaches of managing tenants.

Curious—has anyone here invested in real estate notes before?