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Hello everyone. I am looking for a good note course with some “BEEF” on note buying, calculating yields/financing, exit strategies and of course profits, etc.
I will be at the Money Matters Seminar in Santa Ana, but I am looking for a course to feed my brain and yield me bigger profits. If anyone can point me into the right direction on a note course with extreme detail, not outdated & not to expensive I would appreciate it.
Also: Jackie, why do we not have a forum just on notes? Can we get one going?
I am ready for a new 2009!
Notes would certainly fall under creative financing — that would be a good place to post ideas, comments and questions about notes.
Lonnie Scruggs has an excellent book called Taking the Mystery out of Money that would be a good place to start with a note education.
Soon we will have sevberal note courses available in the store that we recommend — these courses will all be by 20 year veterans in the note business.
All too often someone has a good one year when they start their real estate or note business and all the sudden they think they are an expert and start teaching seminars and selling courses — the reality is that nothign could be further from the truth.
You need to ONLY learn from people who have a LOT of YEARS of experience. Be selective about who you listen to and learn from.
Here’s an example. I was contacted by a 31 year old guy who in 2007 year – his first year in business – bought 1500 apartment units. He thinks he is a genius and wants to get on the seminar circuit and sell a course about how he did it. Problem is, he bought them all with BAD DEBT — the loans are due in 2010 and there’s no way he will be able refinance.
Genius? No STUPID! to buy that many properties in a year all with balloon notes.
he still thinks he is the best thing since sliced bread because he bought so many units in one year.
It’s all about ready to come crashing down on him and he does not even get it yet.
Jackie
P.S. BE CAREFUL who you listen to!
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