Note investor Just starting out

3 Replies

Avoid most expensive guru's, especially obese ones that sell you notes and destroy your life. Donna Bauer has great, thorough, low cost education, and will work with you on deals. Also check out The Paper Source; https://papersourceonline.com which has some great free & low cost education to get you started. 

While you are kind of late to the dance after a good run in the 2000's, get ready for the future when waves of forclosures will be sold off. Make your connections now with the large sellers and realize its a lot of work, and while your $ is secured by an encumberance, or lien on the property, its still risky, like anything else. 

Even paying loans are at risk of default going forward with so many small business owners decimated by the fake pandemic & totalitarian blue state governors. That leads to judicial & non-judicial states, and the cost & hassles are less in the non-judicial states due to not having to go to court to foreclose. Good luck!

Originally posted by @Patrice Johnson :

Thanks Christopher! I will get started on what you suggested. I am finding lots of Guru's out there. So wanted to make sure I'm on the right track. 

 Many of the guru's students have become guru's for some reason. Must be more profitable than actually buying and working out notes. You need to see which way you want to go, 1st liens or juniors, performing or non-performing, judicial state vs non. Starting off maybe performing notes, but be very careful on homes valued under $50k, in most places it might not work out well. Everyone is different so its really a numbers game, and dont forget the servicing fees. Some servicers are very expensive, others are not. keep asking questions here, you are in the right place. Good luck!

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