The questions on brokering or investing in notes usually start with the fundamentals. Before asking about the money that can be made or the lifestyle that goes with the industry, people want to know:
Do you need some level of experience or education to succeed in the note industry?
Do you need a specific college or trade degree?
Can you learn as you go?
Can you find great information at a reasonable cost?
When I look around the note industry I see a variety of backgrounds.
Sure, there are a couple of people with impressive college degrees but there are just as many people (if not more) that come from less than expected roots.
I myself never finished college.
I took a ton of classes, and I suspect if I ever pulled out all my transcripts there is a degree in there somewhere – but certainly not one in finance.
No, a formal education is not a requirement for success, but being educated is.
Let me explain.
I learned about the note industry during one week in a real estate investment course.
I learned about creating notes, selling notes, brokering notes, and, my favorite part, the financial calculator.
As I have said before, I was hooked.
The idea of buying and selling mortgage notes – using none of my own money – could not have been anymore attractive to someone who, well… didn’t have much money.
But that didn’t mean that I didn’t need some form of education.
A great note business starts with great training.
In my case I learned in a class. Well, several of them really. I watched presentations and read everything I could.
I won’t say the cliché, “It was tougher back then” – but it was.
Access to information today is so much more prevalent that it ever was. You need only open up the Internet and search for whatever you like.
Of course, there is a downside…
There is a lot of misinformation out there. There is also a lot of garbage.
The Internet does not seem to have a way to successfully separate fact from fiction, real expectation from false promises, real knowledge from hype.
When we created NoteInvetor.com I can’t say that we ever really knew it would get as big as it has.
Sure, we knew that we were going to provide quality content. We knew that we would hold nothing back and find the best contributing authors.
So what was the secret?
Education.
NoteInvestor.com simply helped people find needed information – at every level.
Whether they were on the site to learn more about brokering notes, selling notes, or investing in notes – we were going to help them.
Later we took the education aspect a big step forward when we created the Finding Cash Flow Notes training.
The course is nothing like any other you may have seen in the note business.
The entire course is online.
Over 40 videos. Downloadable marketing materials. Lots of real world content.
In addition, you can actually ask questions IN the training – and the answers come from us (not someone paid to sit in the training and answer questions.
If you have not checked out the free videos from the training, go here.
The success of the course points to one overall objective that I brought up in the beginning of this article.
I believe that anyone, yes anyone, can succeed in the note industry if they learn what to do and follow a plan.
Everyone has different core strengths. Some people love talking in front of a crowd – others hate it. The note industry offers so many different ways to market for notes; one or more methods are sure to be a good fit for your personality.
But, before anything else, learn as much about the industry as possible.
Your past is not what dictates your level of success – the amount you learn about the industry today does.
The good news is that you are in control!
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