Posted by John Behle on April 10, 2000 at 13:48:45:
It’s fine to start brokering and even to continue brokering the notes that you can’t buy or don’t want. The same goes for all kinds of cash flows. There’s no reason to turn down a good note or cash flow that you could make a commission on.
As far as training - be VERY careful about the outfits out there soliciting people. They range from the totally fraudulent and worthless to in-adequate. You may want to post who the specific group is you are talking about and get some feedback. At least one is being heavily investigated and may be shut down soon. Some of the others try to be legitimate, but bottom line is it just isn’t enough information and the main focus is to make you dependant on the “brokers” and funding sources that they have giving the presentations. There are much better and cheaper ways to go. Consider any “paper” education courses or seminars offered by Terry Vaughan, Lonnie Scruggs, Peter Fortuanto, Jimmy Napier, Hank Harenberg, Jon Richards, Russ Dalbey, Bill Mencarow, or myself.
As far as funding, buying, brokering notes, etc. There are many free articles and archived posts over at my website (www.papergame.com) under the heading “Paper Posts”. Reality is there is more free information here and there than you would pay thosands for in most other programs.
My girfriend and I are real estate novices.We’ve been
pitched by one of the paper “gurus” (seminar, video) to
sign up for the mentoring, the $3,000 wambam brokering
-to-investing program. Sounds like your’re against entering this field as a broker. Would you recommend we save our hard earned money and not consider brokering on the secondary mortgage market as a business?? Instead, look at it as an investment vehicle exclusively? Or is it OK to start brokering to learn the ropes, then quickly move into
buying??
Steffan: You received great advice from Mr. Behle and
I pray you heed it. I have numerous friends that have spent thousands on such courses only to be very let down. Most of them have since dropped out of the business altogether due to loss of their savings.
There is so much free information available here on this forum, the archives, John’s site www.papergame.com
and www.notenetwork.com, www.papersourceonline.com, www.noteworthyusa.com By reading all the available information you can get a great overview of whose material would best suit your needs at any given point.
And for MUCH less cost that those hotshot programs you mentioned. When you have a better perspective of what direction you may choose to go you will know whose materials will fill the bill. May you be happy & well.