Looking for an accountability partner

[Vlad Ovchynnikov]

I’m looking for an accountability partner or group.

I'm working toward building a notes investing business. I've read several books, listened to a gazillion podcasts, taken one of Tracy Z's classes, joined a REIA, spoken to several people in the space, and practiced underwriting offers on Paperstac. I have yet to pull the trigger and buy anything. My efforts feel somewhat haphazard, and I hope that an accountability partner or group can help bring more focus.

An ideal partner would be at approximately the same stage—slightly behind or slightly ahead—and willing to commit to ~30-minute weekly check-ins to review progress and set goals for the coming week. Bonus points if we have complementary strengths: I have a fairly analytical mind and some capital, but not a lot of hustle, and it takes me a while to overcome mental blocks when it comes to reaching out to people.

Looking forward to replies and/or DMs!

[Don Konipol]

Quote from @Vlad Ovchynnikov:

Quote from @Don Konipol:

Quote from @Vlad Ovchynnikov:

I’m looking for an accountability partner or group.

I'm working toward building a notes investing business. I've read several books, listened to a gazillion podcasts, taken one of Tracy Z's classes, joined a REIA, spoken to several people in the space, and practiced underwriting offers on Paperstac. I have yet to pull the trigger and buy anything. My efforts feel somewhat haphazard, and I hope that an accountability partner or group can help bring more focus.

An ideal partner would be at approximately the same stage—slightly behind or slightly ahead—and willing to commit to ~30-minute weekly check-ins to review progress and set goals for the coming week. Bonus points if we have complementary strengths: I have a fairly analytical mind and some capital, but not a lot of hustle, and it takes me a while to overcome mental blocks when it comes to reaching out to people.

Looking forward to replies and/or DMs!

Are you wanting to create a BUSINESS, or just invest in notes yourself?  
If a “business”, it takes a lot more knowledge, capital, experience and talent than successfully investing in notes. It’s not like there are an abundance of notes out there to be had at prices allowing buyers to purchase and be able to resell or flip to investors at higher prices.  The successful note businesses learn how to WORK a note; identify unrecognized value; deal with near bankrupt borrowers, foreclosure, default, attorneys, services, governmental regulations, collateral deficiencies, capital demands, and negative “surprises”.  
If you just want to invest your own cash in a note, it fairly easy and straightforward, as long as you can accept the RISK of a risk adjusted return. 

Don, 

Thank you for highlighting the distinction. Right now, the plan is to be more active than just buying and holding. I understand that it is not as easy as going to a place everyone knows about, buying low, and selling high at the same place. It is totally possible that I either don’t cross that threshold or find it too difficult/stressful/not worth the time and pivot back to just investing my own funds. But having a plan is better than having no plan, and for now, the plan is to run it as a business.

These words may come back to bite me, but regulations scare me least of all. There may be a lot of them, and they may be convoluted - but it is a set amount of formalized knowledge. Enough of it can be learned, and for the rest, there are (granted, expensive) professionals to lean on.

I do realize that there is risk. I can’t quantify the risk, and I hope that ability to quantify it comes with experience and a bigger/better network.

Sounds like you’ve got a good handle on things.  Best way into the business, is offer your services as a “broker” to an established player.  I did this in 2000, was made an equal partner in 2002, and launched my own fund in late 2002 choosing to go solo.  Glad I did it this way, because even with 25 years experience in real estate and real estate finance at that time, I didn’t know what I didn’t know.