I don’t think a week goes by that someone doesn’t call or email us to “mentor” them as a note broker.
I get why they call. We have been around for a long time, done lots of note buying deals, and like sharing information.
So, why don’t we mentor people?
Well, the answer may surprise you…
We don’t really believe in expensive mentoring programs for note brokers.
Don’t get me wrong, we understand that people need support from time to time and we have even had pros provide assistance to us for various reasons.
To say that we don’t believe in “mentors” for the note industry does not in any way suggest we don’t believe in helping people…far from it.
But it is the way that help is delivered that is important to us.
First off, the whole “mentoring” thing in the note business has gotten way out of control.
What started off at a fair $50-$200 an hour has turned into big dollars…tens of thousands of dollars.
The first thing you have to ask yourself is whether you learn any more with a mentor?
Some would argue, “Yes.” I would argue what the quality of the original training was to begin with.
Several years ago we created the Finding Notes Training Course. The course has over 40 videos that unveiled some of our best secrets (including our marketing campaigns people can use as their own).
When we considered mentoring, we quickly realized that all we would be doing is saying the same thing we have already said in a video or handout in the training.
Frankly, it seems hypocritical to charge someone $200 an hour for information I can give someone (and a lot more) for only $297 – and that is the FULL training!
Taking action is your best mentor.
Getting hands-on experience by taking action will jump-start your business faster than any mentoring program. Things like:
- Mailing the first postcard
- Running the first ad
- Taking that first phone call from a note seller
- Submitting the first quote request worksheet to an investor
- Making the first written offer to the note holder
- Gathering documents for due diligence, and
- Closing that first deal!
Use the money you save on mentoring to build a website and start your first marketing campaign.
Let the process of finding and closing deals be your mentor. Ask note buyers for insights. (Trust me if you are working on a real deal with them they will provide the assistance.) Or refer to your training!
But we don’t leave people hanging.
In the Finding Cash Flow Notes training, we answer your questions right in the class. I guess that is like free mentoring without the hourly rate – or you can just say we include it in the training.
Why? …Because it is the right thing to do.
Our note training course is the #1 course of it’s kind for a reason. Solid content, affordable pricing, and we stand by the training – it is 100% guaranteed. You don’t make that offer unless you can deliver.
So, why don’t we provide note broker mentoring programs?
The answer is the same as what we tell people who have taken the training course and want more training….
You have all the information you need to get started making money in the note industry. Devour the Finding Cash Flow Training and put it into action!
I can agree fully with this article.
I spent $3,000 on The American Cash Flow System Training years ago. Fred was the instructor at the time. The shortfall of the course was 95% of time was spent on explaining the various kinds of cash flows out there.
Only about 5% of the time was spent on learning how to use the calculator. Becoming an expert on the calculator is key. Once you know how to work the calculator it works for any cash flow.
Most importantly, no time was spent on lead generation and marketing skills. Without marketing you will have no clients no matter what field you are in.
Capital Projects Enterprises, Inc. says
Just wanted to support what was said in this article. The cash flow business is a tough business as is the case with many businesses. I am still learning new things as I run my business. I think there is a lot of trial and error involved with questions that can be and should be asked of others along the way.
Marge Binder says
Just an endorsement here for everything you say. You guys are the real thing and i can’t thank you enough for the value that your course offers and the generous follow up support you give as well.
Fred Rewey says
Thanks Marge. We really appreciate the comment!