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I just attended a 3 day class with the Note School. It had been a while since I have attended a class other than with the known true Gurus often affiliated with this group. (Pete F, John Schaub, Dyches, etc). This other group, the Note School has a very interesting business model. They buy smaller notes in bulk from hedge funds and institutions and then sell them to their students. Premium members get first look at the note inventory, then the next level membership gets next look , etc. Of course I did NOT sign up for the membership mentor program that started at 20k, ? but I am glad I went. I spoke with people from all over the country: TX, MI, NC, OH, etc. I heard the same story over and over, “there isn’t inventory, the house deals have dried up, I can’t make the numbers work, there are so many wholesalers selling at unrealistic prices.” Very interesting,.
While we have done note investing and lending locally it was insightful to see how the larger note business and brokering works. Has anyone heard of or had experience with the Note School? Does anyone have experience buying discount or non performing notes from institutions and selling them or selling partials, etc. ? Any recommendations on learning more about this part of the business?
Thanks in advance!
I have heard not so good things about NoteSchool. Their coaching prices are insane!
Plus I personally had a bad experience when selling them a note. They gave me a written quote then 24 hours before closing, they reduced the price. apparently it is a common practice.But I have heard excellent reviews of https://papersourceonline.com Bill Mencarow has an excellent reputation
I too attended the three day and my eyes nearly bulged out of my head when they told me their coaching was $40K!! Umm- no thanks!
I am glad I attended however as it furthered my education about the finance aspect of real estate. I’m now pursuing mobile homes to create the notes and have a much firmer grasp on the process. Much better use of my $40K, I think.Thank you for the feedback Kathleen! I totally agree, I did learn but while there was good info it was apparent their primary goal was to sign up students, not educate the current attendees.
I stayed in touch with some students who became members and I may buy some partials in my Roth, as another way to learn and make a decent return.
What area of the country are you looking for mobiles?Thanks again
I’m in Atlanta so I’m looking in North Georgia within an hour or two of Atlanta if possible. I’ve made some in roads with a mobile home park ownership group. They have several parks here in N. Ga that they need help filling. I’m searching for homes I can move to their parks and create a note.
I’m also looking at parks with a partner who has a small park already. I found all of the mobile home premium training here on CFD very inspiring and educational. Basically- I’ve surmised that the mobile home business is all about the people and the note.
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