Anyone else dissatisfied with Real Estate Note Investing book?

17 Replies

First off I bought the book, Real Estate Note Investing, to learn more about buying performing and non-performing notes and different position strategies. After listening to Biggerpockets podcasts and blogs about the author and his new book on note investing, I went ahead and bought the whole package. 

I think the book is a good introduction to Notes and would fit under the popular theme of “Notes for Dummies”. The author has had a storied path through real estate and has a lot of insight and strategies to offer based on their experience. 

Big but, it barely scratches the surface of buying Notes. It didn’t live up to the hype and has left me steeply disappointed. 

Anyone have a recommended book, article, or blog they can point me to?

Although I cant say I’m dissatisfied. I did expect a little more implementation of strategies. To me this has came off as more of an autobiography with snippets of valuable information. ONLY if you have done research and know what great info sounds like.
It was still a great read for me.

@Jon Dorsey while I don't share your opinion I do think the book was more of a great overview of the business of notes in general. I think what a lot of people discover when their interest is piqued in notes is that it's not like many other avenues of real estate. There are not a great number of books, blogs, or articles that will guide you to be able to handle notes on your own, There are a number of webinars and podcasts that help but a true commitment to note investing requires a little more unconventional application of interest.

@Jon Dorsey @Andre Wilson

Most of the books regarding notes will be very broad. My suggestion if you want to learn more about notes is by watching videos/podcasts etc and get hooked up with someone who is closing deals.

If you have specific questions on notes I would suggest searching BP, going to the notes category or reach out to me directly and I would be happy to answer any questions

@Jon Dorsey - I learned through Scott Carson specific to notes and my full time gig is in real estate development and construction. I will send you a PM so I am not self promoting myself.

I'll promote @Chris Seveney on his behalf. He's as knowledgeable as anyone I've found in notes. Like he said, books aren't really the way to get experienced in notes. I have a few books on notes, but have only read one all the way through. Note investing by nature changes greatly from year to year in terms of laws and regulations. If you need some pointers on how to get started feel free to shoot me a message and I can direct you to some of the resources I've found useful along the way

@Jon Dorsey as mentioned above. Start with @Scott Carson . Chris also comes from Scott and he's turned out a lot of successful note investors. Expect a 3-6 month learning commitment just to really be able to navigate the waters. It's not rocket science, but it's not what many expect either.

I would be happy to help. I can tell you anything you need to know about investing in institutional residential 2nds. The author is one of my mentors. I've managed well over 600 Non Performing 2nds and have been paid off of 300 of them. I have an Asset Management Company, that manages Non Performing 2nds for investors. I personally buy both Non Performing and Performing 2nds in my own company and IRAs. I do it full time. Send me a message, I would be happy to connect.

first you have to decide what you want to do in the note business.. what most of the responses are talking about is buying bad debt.. and 2nds at that which this is the most risky and the most work..

if your looking for work and risk and job then that kind of note investing is for you.

If your looking for Passive income with no work and Limited risk then you simply need to align with a great HML who takes on private clients or those that understand where performing notes are generated.. we have done over 1700 performing notes for clients that last 5 years and really don't advertise at all. simply because once you get conservative investors in your program it just feeds itself.. deal flow is the key right now.. most have a hard time finding quality. finding defaulted seconds is easy.. and the most risky. ONE in my mind need to do as the gentlemen above posted about you have to make it a business. because your going to take loss's if you start out with a few and pick wrong. well you are not going to be happy.. there is far more to that end of the business than any guru or course is going to let on..

so pick you niche then go study that and connect with those that work that niche.. if its bad debt go that route if you want something you don't have to work on and worry about for your sidra then go that route.. no need to learn it all no one knows it all NO one..

Notes are all done by law and statue so class 's are just putting the info in one place its all there to find

I read the book once so far and learned a lot. I know I'll need to read it at least a couple more times before I even consider purchasing my first note.

The book is credible because it was written by someone who has done it many times. I also know from my own experience that regardless of the knowledge I picked up in the classroom, my real learning didn't start until after I entered the workforce.