New to the note business - Posted by Theresa

Posted by John Behle on April 13, 2000 at 12:52:28:

The biggest risks in the note business is not knowing enough, being mislead in your education and approach or just in spending a lot of time and not succeeding.

As far as educating yourself properly, realistically and in-expensively - this is the right place to start. Continue to follow this forum and read all of the paper articles by myself, Terry Vaughan, J.P. Vaughan, Lonnie Scruggs, Jon Richards, etc. that are posted here. There are new articles posted at my website also. Once you read all that, you will have a pretty good understanding of the basics of paper. Then you would benefit from some courses. Anything by the above authors would be good as well. You may even find some paper courses or books at the library or even thrift shops.

Be careful about the promises of making tens of thousands per month in brokering notes. It is possible, but right now that side of the industry is very competitive. You can start by brokering notes and the best approach is to learn how to find them and then work with an experienced broker to help you close them. Then as you learn more, you may want to make a little more brokering them direct to the funding sources yourself. At the same time, the money is in finding the notes. You could be better off just beefing up the “production” so to speak and finding more and more notes as opposed to getting caught up in all the details of the brokering and “due-diligence”.

Then, as you really learn the business well, you can develop your own funding sources and actually buy notes for your own portfolio and treat the business as an investment, instead of a job.

Keep in touch here and we’ll take things step by step.

New to the note business - Posted by Theresa

Posted by Theresa on April 12, 2000 at 11:40:32:

I’ve been reading your articles and visiting your “Cash Flow
Forum” for a few months now. During this time, I have become very intriqued by the note business. Just to give you some background on myself, I am 28 years old and am currently in the technology field. I am a Remote Access Engineer for a large software company. I enjoy my job, but have been trying to come up with something I can do from my home. I have a five year old son that is growing up so fast, and I’m missing all of it by working so many hours. All of this, and I’m still coming up short at the end of the month. Is it realistic for me to assume that the Note business might be the answer I’ve been looking for? I don’t have much money to invest on the courses that are available on creoline, so I want to make the best choice. I have no experience, but am willing and eager to learn. I am not looking for a “get rich quick” scheme, but something that will help me realize my financial goals within a reasonable amount of time. I’m sorry for all of the questions, but like I said, I don’t have a lot of time or money to be wasting on courses that don’t work. Is there a lot of risk involved in buying and selling notes? Does it take a lot of money to get started? Which course would be best for me- a beginner??? I’m sure you’re very busy. If you have some spare time, please drop me a note! No pun intended! Thank-You for your time!