How can I get started in Notes (without buying the seminar)?

Tax Liens & Mortgage Notes
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How can I get started in Notes (without buying the seminar)?

Steve B.
Hinsdale, IL · Member since 2014 · 73 posts · 16 votes

Yesterday I attended a local REIA meeting which had a length presentation about why we all need to get into notes. And it came as no surprise that there was also a length pitch about the note training session coming up for only $2k.

The concept of note buying was good and the presentation was informative and entertaining, as I have come to expect from any seminar pitch that I hear.   But do I really have to spend this money to find out what to do next?   Is there a book, or any other resource that you could recommend to me instead?   It sounds like lots of people have already taken this course or something similar.   Is that the way to go?

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Steve HodgdonPro Member
Investor · Novato, CA · Member since 2015 · 433 posts · 321 votes
10y

This is a great forum to read and find real players. Barrier to entry is very low, so easy to prey on the ill informed.

I'm new to notes too, but have a couple of decades in unsecured paper. Used to own collection agencies so this makes sense to me.

LOTS of sharks in the water. Everybody is selling something.

I read all the books I could find. Am going to Note Summit in San Diego this week and another convention in Vegas in April. I like the NoteMBA podcast. I like NNG and PPR too. Paper Source University has a free download package. Gets you the old school view.

I bought the PPR course. It was informative, but not a lot more than available elsewhere.

I bought one note from a local broker and am just getting into it. Early indication is I paid too much. But, I always have buyer's remorse.

I think I'm going to JV some deals and learn that way.

I'll be posting on the South Carolina note I just bought as it progresses. So, maybe follow me.

Good luck!

steve

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  • Jim Peret
    Investor · Delafield, WI · Member since 2014 · 102 posts · 73 votes
    8y

    Great post reply: Christopher Winkler Investor from Dallas, Texas

    Do you think an older investor who will be taking distributions from his IRA should learn and invest in notes? How long would I typically hold a note?

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    8y
    Jim Peret While there is a ton of free content out there - I recommend taking a class. Reason why is you can spend a month watching videos online etc which will not be a very effective use of time. Taking a weekend course on it will be focused and provide a solid foundation but there is always more to learn. If your looking to do this as a business it takes education and experience like any business. There is no quick fix for only spending $2000 and being able to do this immediately full time.
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  • Dan DeppenBusiness Member
    Erie, CO · Member since 2017 · 274 posts · 267 votes
    8y

    I would add Note Investing Made Easier by Martin Saenz to the reading list.

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  • Odie Ayaga
    Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
    8y

    Lot of good suggestions here. I also like the Note Inc podcast. To expound on what was mentioned above, another nice thing about notes is a lot of the players are note only here but reachable. @Martin Saenz as mentioned above is not only incredibly knowledgeable and at every event I find but will happily reach out to you one on one. @Chris Seveney is never at a loss to offer some advice. Notes is unlike many avenues of real estate where you can navigate some path of "read this book then that book" it's easier and more efficient to reach out to this guy and that guy. It's a very familial atmosphere.

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  • Martin Saenz
    Investor · Fredericksburg, VA · Member since 2017 · 377 posts · 230 votes
    8y
    Originally posted by @Odie Ayaga:

    Lot of good suggestions here. I also like the Note Inc podcast. To expound on what was mentioned above, another nice thing about notes is a lot of the players are note only here but reachable. @Martin Saenz as mentioned above is not only incredibly knowledgeable and at every event I find but will happily reach out to you one on one. @Chris Seveney is never at a loss to offer some advice. Notes is unlike many avenues of real estate where you can navigate some path of "read this book then that book" it's easier and more efficient to reach out to this guy and that guy. It's a very familial atmosphere.

    Thanks for the shout out, Odie. My only two cents is that people get exposed to notes and get excited based on the level of professed returns, and start moving in a number of directions to break themselves into the space.

    The real question lies with self-reflection and formulating investment strategies that fit your desired lifestyle.That is what needs to be done first and foremost in addition to mastering your own financial situation.Once you get a handle on yourself and your course in life, then you determine if notes need to be a part of the equation and how much time & capital you have to commit to it.If you are posting to find an alternative to receiving good formal training on notes in order to save 2k, note investing may not be for you as it’s a capital intensive endeavor and much capital can be lost if you slip up.The thing to do is self-reflection, getting your finances in order, and vetting the training and trainer (i.e. I always ask if there is upselling as part of a workshop before I take it).

    The thing I see happen often is people run around conferences, social media, etc. looking for a replacement of good formal training on real estate or notes, which can lead to a lot of lost time.That is fine if that suits the persons objectives but to me time is the most precious gift I have.

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