Hello, I'm new to Note Investing and will be taking some education courses to help me learn the business. I realize this isn't an easy business to get into, it take time, effort, money, and myriad more things in combination to be successful. Education being only one component. I've seen 2 courses recommended here; PaperSource Note Pro ($397) and NoteMogul Training ($497). I would like to ask people here who've either taken the courses, have experience with them, or otherwise have relevant information about them to give me their feedback. • Have you taken one or both of the courses? If so, what did you like and dislike about them? • If you've taken both, do you prefer one over the other and why? • Would you take them again? • Do you think they are helpful to a new Note investor? • Can I get a better return on my money with a different product, ie. a book, course, webinar, ebook, etc? • Did the course accomplish it's goal of educating you on the business and to how be successful? Your input is greatly appreciated, thank you. Thomas Turner FYI: I've read most of the Note articles on BP and Dave's 99 page PDF on Note Investing.

Scott Carson puts on a Virtual seminar Virtual Note Buying for Dummies every couple of months, he also has free webinars on Mondays. I have been through these courses and found plenty of value in them. Whichever one you chose, it is going to be a tidal wave of info. Take your time and remember, slow and steady wins the race.

@Nathan Turner, I plan to implement the steps Scott is laying out in the course. Re: The PaperSource Symposium, I hope to see you there and network. @Chase Thompson, I've been listening to the NoteMBA Podcast and have really gotten a lot out of them. Thanks and keep'em comin. I'll reach out to you once I'm done with Scott's training to see how to move forward and keep the momentum going. I really like what you had to say about getting real with yourself if you want to be serious about this or anything else. It was a kick in the necessary in the teeth I needed to hear. @Todd Walker, I ordered the Turning Distress into Success: The New Book for Wealth Building Breakthroughs & Enhancing Income Investments, by Bilal, Fuquan. @Jay Raught, thank you! @Mark Gustafson, I've heard about that book. I may be reading it next. What do you think the books strong points are? Who should be reading it? A beginning investor, a seasoned pro, or a mid level investor.

I'd echo what @Diane Ensminger and @Eric Hyde have said. I've consumed almost everything Scott Carson has put out, Virtual Note buying, all the Note Camps, many of his videos and podcasts. I've compared notes (no pun) with a few other people who have taken the intro Eddie Speed course, I think you can find just about all of that content for free in Scott's videos on Vimeo and/or YouTube. I don't like the hard sell aspect I've heard about Eddie, AND is seems like a closed society. They tend to only buy from Notes Direct, which is an Eddie company. Then you only get access to the "good stuff" if you are a Platinum or Titanium member (I don't know the exact levels) and you have to pay tens of thousands $$$ to get that access. Not for me. FYI I've purchased 9 notes to date, all 1sts, 1 performing the rest NPN, no CFD's yet. Each one throws a new wrinkle and forces me to learn a new facet of the business, I like that. I was able to get that far from Scott's training, and independent research, JV'ing with experienced investors (Wayne Snell, Jayson Gray), just doing it at figuring it out as I go. And I've started a side business in Notes. I also purchased Note Investing Academy from Chase, Kim and Liz. I think it's well worth it. It goes into more depth in some areas than other training, and there is more content to come. I'd say I already knew at least 70% of what they provide, but it only takes a few bits of valuable information to save you from making an expensive mistake. It's taken me well over a year to learn what I know so far, this training will get you there much much faster. You still have to live it (buy some notes), for it to really hit home. Going back and reviewing training I've already taken, I understand things much more fully than I did the first or second time just reading or watching a video.

I'll jump in here and put in my 2 cents. Before I got into notes, I researched Eddie Speed and Scott Carson. Both were reputable and both had great programs apparently. However, I had to decide....1st liens or 2nd liens. Performing or non performing. These are different worlds. Ultimately I decided to learn from Scott Carson with "We Close Notes". He focuses on non performing first lien notes. Since his courses, Virtual Note Buyers Workshop and Note Camp 4, I have purchased several non performing notes that I am very happy about. I have essentially built a business and started adding to my portfolio (I own several rentals prior, still own them). I work hard, network, and chase what I want. However, I attribute part of my success to Scott and his crew. Sooooooo, I absolutely recommend Scott's program. He has a ton of material on youtube, iTunes, etc that you can listen to. He also has his Fast Track mentoring program. With all this said, I also was lucky to have a JV partner and mentor @Gail Greenberg who has helped me immensely. She is a great person to work.

Account Closed won't let you get away with sitting on your laurels so he's a good start. Back to your original question, I've been going to Papersource for the last 5 or 6 years and it has always been a source of great content and networking. I'll be speaking at this year's conference so I hope to see you there!

@Patrick Desjardins - as far as having a tape sent to me, would I be confident after attending Scott's program? 100% yes. I will break down a tape like nobody's business now...make some offers...talk to attorney's, servicers, realtors, title companies all while drinking a mocha from Starbucks! Lol

Yes, in the small balance space like under $150K, these borrowers are generally glad that an investor wants to work with them and keep them in their home. Also, the loan payments on a low balance note like these are generally lower than rent payments so its kind of a no brainer for the borrower to "stay and pay" if they have the financial means to do so. Lastly, banks are not doing any financing for loans below $50K, so providing lending on these lower end properties provides a great solution for those who want to own and can only afford this range.

I am really liking that investing in Notes is a way to help relieve some of the pressure from struggling borrowers.

Did someone say Note MBA Podcast? :) Reach out with any questions you have Thomas. Glad to help anyway we can. C

Tax Liens & Mortgage Notes

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Best Beginner Note Education Course PaperSource or NoteMogul?

Account Closed

Specialist · Carmichael, CA · Member since 2017 · 33 posts · 14 votes

Hello,

I'm new to Note Investing and will be taking some education courses to help me learn the business. I realize this isn't an easy business to get into, it take time, effort, money, and myriad more things in combination to be successful. Education being only one component.

I've seen 2 courses recommended here; PaperSource Note Pro ($397) and NoteMogul Training ($497). I would like to ask people here who've either taken the courses, have experience with them, or otherwise have relevant information about them to give me their feedback.

Have you taken one or both of the courses? If so, what did you like and dislike about them?
If you've taken both, do you prefer one over the other and why?
Would you take them again?
Do you think they are helpful to a new Note investor?
Can I get a better return on my money with a different product, ie. a book, course, webinar, ebook, etc?
Did the course accomplish it's goal of educating you on the business and to how be successful?

Your input is greatly appreciated, thank you.

Thomas Turner

FYI:

I've read most of the Note articles on BP and Dave's 99 page PDF on Note Investing.

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Diane E.

Murphy, TX · Member since 2014 · 20 posts · 21 votes

So here is my take. I haven't done any of the mentoring programs available from Eddie Speed or Scott Carson (both mentoring programs run $15K or more) but I've taken intro courses from both Eddie and Scott. I took Eddie's 3-day intro courses on nonperforming and performing notes. That was about $1K or so. The time and info was worth it as a good intro, but then there was a hard sell for Eddie's mentoring program. I've also taken Scott Carson's Virtual Note Buying for Dummies ($700) and attended his Note Camp. Both of those were worth it and didn't hard sell the mentoring program. I thought Eddie's course was a better explanation of legalities, but Eddie has done this for many decades and some of his practices don't seem that current compared to Scott's. For me, Scott's course had a much better focus on marketing, including social media marketing, and asset acquisition. Scott also puts out a ton of info for free. Check out his podcasts on weclosenotes.tv for replays.

A new education option that just became available is the Note Investing Academy. I thought the course was comprehensive, well sequenced, and definitely worth the pre-launch $2K price I paid. Three different instructors present videos on their areas of expertise. For example, there's a 1+ hour video with an ex-kindergarten teacher turned note investor explaining how to do due diligence on a tape. There is a video with nuts and bolts of collateral file review, including documents used with contracts for deed. A marketing guru explains branding and social media marketing. There's a section on setting up your company. This course seemed to me to have everything in one place, without spending days or signing up for a mentoring program to get to critical missing information. They have taken a lot of time to make the videos complete but concise. This course is still being finalized but you might want to check it out.

And of course, these are just my impressions. Your mileage may vary.

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