May 21, 2025 • 19 mins
Chris dives into the nitty-gritty of how note investing has transformed over the last decade, highlighting that while the landscape has shifted from a treasure trove of low-balance, distressed loans to a more competitive and cash-heavy game, the opportunities are still very much alive. He breaks down the five foundational steps for newbies looking to jump into the note investing scene, even if they don’t have deep pockets. From smart partnerships to exploring partials and land notes, he’s got your back with creative strategies to get started without needing a mountain of cash. So whether you’re just kicking the tires or ready to roll, Chris serves up some solid advice on navigating today’s market with a wink and a smile. Tune in and get ready to learn how to make your first deal happen!
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:44):
Welcome back everybody, to thePapertrail podcast.
Today I'm going to talk aboutan interesting topic that was brought
up to me by somebody in mymembership group and they asked the
difference between noteinvesting back when I started versus
now, and if somebody was justgetting started, what would I do
(01:05):
differently or how are things different?
Because I started almost 10years ago, it was a very different
landscape and environment thanit is today.
So I want to really focus onand talk about that because it's
a great question and I think alot of people are wondering about
this and they're askingthemselves, so how do I even get
(01:28):
started today?
So on today's episode, we willtalk about what has changed in the
note space over the pastdecade, how you can get started in
today's market, and what to doif you don't have all the funds to
buy a loan yourself.
So let's roll right into itand let's dive in.
So to tee this off, let'sstart about then versus now.
(01:53):
And when I got started noteinvesting, the landscape was very
different.
There was a lot moreavailability, especially of smaller
balance loans.
Think unpaid balances of 20 to$50,000, sometimes even less.
And these were ideal for newerinvestors looking at started with
(02:14):
relatively low capital.
Now why was that?
Well, it was the tail end of2008 crisis.
The bank's hedge funds still,you know, sitting on piles of distressed
paper.
They were selling off allthese REOs and companies were buying
them and doing seller financeby what was called a contract for
(02:35):
deed.
And I've done plenty ofepisodes on what a contract for deed
is.
You can go back and check, butthink of it like a car where when
you buy a car, you hold title.
I'm sorry, the lender stillholds title until you pay it off.
Similar in a contract for deedwhere the lender still holds title
until you pay it off, comparedto a mortgage where you hold title
(02:58):
to that property.
Now, today, most of thatlegacy paper has either been resolved,
refinanced, or, you know, notreally available.
And what we're seeing aregenerally larger balance loans with
higher price tags and morecompetition for those quality assets.
(03:22):
But, and this is key, theopportunity has not disappeared,
it's, I'd say evolved.
Because today we've got bettertools, there's more vendors, there's
different compliance infrastructure.
I look at it as a more mature market.
(03:43):
And because of that, peoplerealize the value of these assets.
And back in the day when I wasable to buy them at 30, 40 cents
on the dollar, that's not thecase anymore because the value at
that time, they were worth alot more than that.
But sellers just wanted toliquidate, especially funds that
(04:05):
were closing.
So the inventory, the space wemet, it's changed.
And because of it, how I getstarted is going to be very different
than how you would want to getstarted in today's markets.
(04:26):
So I put together kind of afive step framework for investors
and how, what should I do?
I heard about Node Investing.
How do I get involved?
What should I do?
First thing, educate yourself.
Start by learning the basics.
(04:47):
When I got started, I did notknow the difference between a mortgage
and a note.
It took me forever tounderstand the differences between
an assignment and a launch.
I kept getting them confused.
It was almost like when I wasa kid learning like left, right,
left, right, where you'relike, you know, using your hand and
you know, I don't rememberthey had this, you know, to tell
(05:09):
you which was left.
My parents, you know, forgotto tell me that one.
So I remember just sittingthere going left, right, left, right.
Same thing with a launch andassignment, like which one's, which,
which one goes with the note,which one goes to the mortgage.
I really struggled with thepaperwork behind it.
Real estate I was good atbecause I had been in real estate.
(05:30):
But understanding theterminology and everything was very
challenging.
Some of the other basics, thedifference between performing and
non performing notes,understanding the risks, understanding
judicial versus non judicialstates, understanding how time can
impact your valuations.
And as part of educatingyourself, there's plenty of free
(05:53):
information on YouTube, the Internet.
There's also a lot of gurusout there who charge a lot of money
and some of them actually haveokay training.
But be careful before sendingthem any money because there's a
lot of them who have criminalhistories that rap sheets that go
on for pages and encyclopediathickness type pages.
(06:18):
And as always, we do providebeginner friendly resources, guides,
glossaries, head over70investments.com, happy to provide
that to you.
Second step is being yourself,being unique.
Define your own strategy.
What works for you, what worksfor you or what works for me may
(06:41):
not work for you.
Do you want monthly income?
Do you want which is typicallya performing loan?
Or are you looking forsomething non performing, little
higher risk, low, high reward,you know, is it something that you're
looking to hold for long term,you looking to sell?
A lot of decisions can shapethat approach and your risk tolerance.
(07:02):
And a lot of it also will goto how much money do you have?
Are you buying a first or a second?
Again, all of this needs tokind of be glossed over and just
reviewed.
I spent a good six monthsbefore I've bought my first note
and I thought that was a goodamount of time.
(07:22):
I thought I probably got alittle bit analysis paralysis.
But I still know investorsfrom when I started who've only bought
one note because of analysis paralysis.
So they're on like almost adecade of analysis paralysis, which
I don't think is healthy.
The other is building your team.
And you're going to need asolid team around you, your servicers,
your attorneys, where you getyour titles, title searches, all
(07:46):
of that.
And I'll tell you, do not burn bridges.
It's a very small business.
So speak to them, understandtheir timing and hold their feet
to the fire.
But if they screw up, youknow, don't blast them on social
media, you know, just try andwork with them.
(08:07):
Here's where I think everyone may.
Here's where I think a lot ofpeople on the next step make the
biggest mistake.
This is sourcing inventory.
And I like to think about thisas I got many things wrong in my
mind.
But you'll reach out to seebrokers, hedge funds, trading platforms
(08:30):
like Paper Stack and or otherfunds like people reach out to us
for assets.
What I will tell you isquality over quantity.
It's great that you're gettingall of this quantity of loans.
Now we see over a billion a month.
I see a billion plus from one seller.
(08:51):
I have actually bid the sameamount with that seller and another
seller who was brokering thesame asset and I win it from the
other seller.
I actually bid higher one timeon this other seller and still won
it with a lower bid on theother one.
Why?
Because this other seller ismore challenging, difficult and they
want to charge higher fees to,you know, on the back end.
(09:13):
But it's cool that I can say whippedy.
Do I get a billion dollars?
I can't buy a billion, noteven come close to that.
We're buying a few million amonth in loans.
If you got 10, 20, $50,000,you will have plenty opportunity
(09:33):
to pick an asset and buy something.
But I think where a lot ofpeople get stuck is they want the
perfect loan.
And that's not going to happen.
The perfect loan for theperfect price, you know, if you want
try and you know, get higherreturns, it's going to be higher
risk, there's going to be morehair on the asset.
Just like a house, the morerenovated the house, you know, the
(09:56):
higher the cost.
Of course, always do your due diligence.
You know, we talk about thethree Ps, the person, the predicament,
and the property.
And just ask yourself, is itworth the investment?
And really do that due diligence.
Now, it's great that I spitout all of that, and we've talked
about that in the past.
(10:18):
But here's where I think Ireally break down the answer from
now to then, because it wasmuch easier to have the funds back
then.
Today it's not so easy becausenotes are more expensive today.
Maybe you're ready to invest,but you don't have 30, 50, $100,000
or more to buy a note outright.
(10:38):
A lot of tapes we see now,it's very rare to see a balance under
$50,000.
Back in the day, almost everytape I was chasing had balances less
than $50,000.
So here are some smart realworld ways headed into the game and
sometimes maybe not doing it alone.
(11:01):
Option one, partner withsomebody else.
I don't know why it'sinteresting because the space is
not competitive in the senseof, like real estate, where, you
know, you don't want to showyour secrets or whatnot.
But in the same token, I'm notsure why more people don't partner.
I know there's a group ofwomen out there who partner on loans
(11:22):
and they each put in, youknow, 10, 20 grand or whatever that
number is, and they're able tobuy an asset.
And each one has a specificskill set that they work together.
For some reason, I find, youknow, and I'm not meant to say this
in any negative light, I findin this industry, women work better
together than men.
I don't know if it's an egothing or what, but, you know, that's
(11:45):
something I see.
And there's plenty ofopportunity there that you could
partner with somebody and findthe deal, manage it.
And I'm not talking a jv,where, you know, this other person's
kind of in the sidelines.
It's two people who want to bein the space.
It's like, hey, let's joinforces, work together, learn through
this together.
(12:06):
Now, each put in 20 grand,split the profits, you know, and
go on our way.
So that's one area where Ithink you could get in.
Another is, you know, buying apartial note, which some sellers
are for partials, and you buy,you know, five years of cash flow.
(12:28):
I used to do this frequently.
I used to have over 75 loansthat we had sold partials on.
Now that we have our fund, youknow, that's not the case anymore.
We're not selling partials inthat sense.
The one thing I'll mentionabout a partial and some people use
term partial, some people use hypothecation.
(12:50):
Understand your role.
Are you managing the note oris that other person managing the
note?
If it's that other person,you're not really going to learn
a lot.
You'll basically get some cashflow in the door, but it's going
to be much more passive for you.
And if you're really lookingto learn, I'm not sure it's going
to fill that cup.
(13:11):
So if partials don't fill thatcup, what can fill that cup?
We mentioned the, you know,partnering, we mentioned other avenues.
The other asset class thatdoes have lower price notes is land.
(13:32):
And some areas of the countrythat have some manufactured homes,
you can see loans in thoseareas that again are going to be
in a market where you can buyloans for 5, 10, 15, $20,000.
It will be much higher risk.
Just calling out their land isgoing to be a higher risk than a
single family because it'smore illiquid.
(13:54):
You know, people can't live ina land, People can live in a house.
So there's going to be morepeople wanting that property if it
goes to foreclosure, have totake it back.
And land, it's going to haveto be most likely an investor that
wants to buy that because it'sprobably land that's a little more
rural and there's not peoplechomping at the bit to go build a
house, especially today intoday's economic environment.
(14:18):
But there are a lot of peoplewho, you know, like to buy land or
own land and will pay.
You can get it at a servicer,you can learn the process.
And I think that's reallyimportant to understand the boarding
process and the other aspectof note invest investing of just
having your loan at a servicer.
But also realize after thatprocess it's pretty boring because
(14:42):
you gotta wait every month seeif that person pays or not.
It's not like you need towatch your loan every single day.
I did that when starting out.
I don't know why I would justgo in and log in and some of them
are not performing.
But I'm like, why am I doing this?
Should be looking at otherloans or whatever else is going on.
The other option, which againI know people do, I don't typically
(15:04):
recommend this is buy a secondposition mortgage, which again typically
sell for more of a discount,typically lower priced.
The reason why I say I don'ttypically recommend it is if you
do have to foreclose.
How are you going to deal withthat first position loan?
(15:25):
Or if that first position loangoes to foreclose, do you have the
funds to pay it off or toreinstate it?
And most people gettingstarted do not.
So that's the reason why it'snothing with them, you know, not
being a good loan or whateverthe case may be.
It's all about how much moneyyou have.
I know people are verysuccessful in the second note space
(15:47):
and do really well, but theyalso have money behind them as well.
So some final thoughts.
You know, let's recap.
You know, a decade ago, as Imentioned, you could find these smaller
notes all day long.
And today's inventory hasshifted, but that opportunity is
(16:08):
still out there.
And we have some notes in ourportfolio that we're selling right
now that have balances below50 grand or can be acquired for 50,000
or less.
Can you find stuff now for 5or 10 grand like you could a decade
ago?
It's just a lot harder.
But you know, again, you'reprobably looking at land.
(16:28):
It just takes time and hustleand recognize.
Real estate, including noteinvesting, is not a get rich quick
scheme.
If you have $25,000 and youbuy a performing loan, great.
You make 2,500 bucks a year.
$200 a month, I think that's great.
(16:50):
I know people who sometimesthough, see on Instagram or YouTube
somebody telling you how tomake 250 grand your first year.
Unless you have spent yourcareer in marketing, sales and have
a really good network ofpeople with a lot of money, you're
not gonna get there.
(17:11):
It's just reality.
First few years of noteinvesting, you should plan for long
term and take all the moneyyou make.
If you make any in the firstyear, reinvest it.
It wasn't until the third yearI was involved in note investing
that I really saw substantialgains because I was reinvesting,
you know, that money and thattime and you know, systems processes,
(17:34):
you know, a little bit here on training.
I was reinvesting it because Iwanted this long term and put a plan
to grow.
And you just don't grow from 0to 100 loans overnight.
It takes a lot of time andcommitment, which I feel like I've
done.
So for those getting startedtoday, yes, it's harder.
(17:55):
Just like it's harder to buy ahouse and afford a house, it is no
different.
But here at 70, we are here to help.
And if you're interested inmore information on how we can help,
we have a very smallmembership group.
We provide a lot of free content.
We're hosting a conferencecalled the Paper Trail Conference
(18:18):
in September in Chandler, Arizona.
Go to papertrailconference.comand check us out on YouTube.
We've got so many tools,resources, strategies to help you
move forward no matter whereyou're starting from.
So thanks for listening to thePaper Trail Podcast.
Hit that follow or subscribebutton and we will see you next time.
(18:41):
Take care.
Welcome back everybody, to thePapertrail podcast.
Today I'm going to talk aboutan interesting topic that was brought
up to me by somebody in mymembership group and they asked the
difference between noteinvesting back when I started versus
now, and if somebody was justgetting started, what would I do
(01:05):
differently or how are things different?
Because I started almost 10years ago, it was a very different
landscape and environment thanit is today.
So I want to really focus onand talk about that because it's
a great question and I think alot of people are wondering about
this and they're askingthemselves, so how do I even get
(01:28):
started today?
So on today's episode, we willtalk about what has changed in the
note space over the pastdecade, how you can get started in
today's market, and what to doif you don't have all the funds to
buy a loan yourself.
So let's roll right into itand let's dive in.
So to tee this off, let'sstart about then versus now.
(01:53):
And when I got started noteinvesting, the landscape was very
different.
There was a lot moreavailability, especially of smaller
balance loans.
Think unpaid balances of 20 to$50,000, sometimes even less.
And these were ideal for newerinvestors looking at started with
(02:14):
relatively low capital.
Now why was that?
Well, it was the tail end of2008 crisis.
The bank's hedge funds still,you know, sitting on piles of distressed
paper.
They were selling off allthese REOs and companies were buying
them and doing seller financeby what was called a contract for
(02:35):
deed.
And I've done plenty ofepisodes on what a contract for deed
is.
You can go back and check, butthink of it like a car where when
you buy a car, you hold title.
I'm sorry, the lender stillholds title until you pay it off.
Similar in a contract for deedwhere the lender still holds title
until you pay it off, comparedto a mortgage where you hold title
(02:58):
to that property.
Now, today, most of thatlegacy paper has either been resolved,
refinanced, or, you know, notreally available.
And what we're seeing aregenerally larger balance loans with
higher price tags and morecompetition for those quality assets.
(03:22):
But, and this is key, theopportunity has not disappeared,
it's, I'd say evolved.
Because today we've got bettertools, there's more vendors, there's
different compliance infrastructure.
I look at it as a more mature market.
(03:43):
And because of that, peoplerealize the value of these assets.
And back in the day when I wasable to buy them at 30, 40 cents
on the dollar, that's not thecase anymore because the value at
that time, they were worth alot more than that.
But sellers just wanted toliquidate, especially funds that
(04:05):
were closing.
So the inventory, the space wemet, it's changed.
And because of it, how I getstarted is going to be very different
than how you would want to getstarted in today's markets.
(04:26):
So I put together kind of afive step framework for investors
and how, what should I do?
I heard about Node Investing.
How do I get involved?
What should I do?
First thing, educate yourself.
Start by learning the basics.
(04:47):
When I got started, I did notknow the difference between a mortgage
and a note.
It took me forever tounderstand the differences between
an assignment and a launch.
I kept getting them confused.
It was almost like when I wasa kid learning like left, right,
left, right, where you'relike, you know, using your hand and
you know, I don't rememberthey had this, you know, to tell
(05:09):
you which was left.
My parents, you know, forgotto tell me that one.
So I remember just sittingthere going left, right, left, right.
Same thing with a launch andassignment, like which one's, which,
which one goes with the note,which one goes to the mortgage.
I really struggled with thepaperwork behind it.
Real estate I was good atbecause I had been in real estate.
(05:30):
But understanding theterminology and everything was very
challenging.
Some of the other basics, thedifference between performing and
non performing notes,understanding the risks, understanding
judicial versus non judicialstates, understanding how time can
impact your valuations.
And as part of educatingyourself, there's plenty of free
(05:53):
information on YouTube, the Internet.
There's also a lot of gurusout there who charge a lot of money
and some of them actually haveokay training.
But be careful before sendingthem any money because there's a
lot of them who have criminalhistories that rap sheets that go
on for pages and encyclopediathickness type pages.
(06:18):
And as always, we do providebeginner friendly resources, guides,
glossaries, head over70investments.com, happy to provide
that to you.
Second step is being yourself,being unique.
Define your own strategy.
What works for you, what worksfor you or what works for me may
(06:41):
not work for you.
Do you want monthly income?
Do you want which is typicallya performing loan?
Or are you looking forsomething non performing, little
higher risk, low, high reward,you know, is it something that you're
looking to hold for long term,you looking to sell?
A lot of decisions can shapethat approach and your risk tolerance.
(07:02):
And a lot of it also will goto how much money do you have?
Are you buying a first or a second?
Again, all of this needs tokind of be glossed over and just
reviewed.
I spent a good six monthsbefore I've bought my first note
and I thought that was a goodamount of time.
(07:22):
I thought I probably got alittle bit analysis paralysis.
But I still know investorsfrom when I started who've only bought
one note because of analysis paralysis.
So they're on like almost adecade of analysis paralysis, which
I don't think is healthy.
The other is building your team.
And you're going to need asolid team around you, your servicers,
your attorneys, where you getyour titles, title searches, all
(07:46):
of that.
And I'll tell you, do not burn bridges.
It's a very small business.
So speak to them, understandtheir timing and hold their feet
to the fire.
But if they screw up, youknow, don't blast them on social
media, you know, just try andwork with them.
(08:07):
Here's where I think everyone may.
Here's where I think a lot ofpeople on the next step make the
biggest mistake.
This is sourcing inventory.
And I like to think about thisas I got many things wrong in my
mind.
But you'll reach out to seebrokers, hedge funds, trading platforms
(08:30):
like Paper Stack and or otherfunds like people reach out to us
for assets.
What I will tell you isquality over quantity.
It's great that you're gettingall of this quantity of loans.
Now we see over a billion a month.
I see a billion plus from one seller.
(08:51):
I have actually bid the sameamount with that seller and another
seller who was brokering thesame asset and I win it from the
other seller.
I actually bid higher one timeon this other seller and still won
it with a lower bid on theother one.
Why?
Because this other seller ismore challenging, difficult and they
want to charge higher fees to,you know, on the back end.
(09:13):
But it's cool that I can say whippedy.
Do I get a billion dollars?
I can't buy a billion, noteven come close to that.
We're buying a few million amonth in loans.
If you got 10, 20, $50,000,you will have plenty opportunity
(09:33):
to pick an asset and buy something.
But I think where a lot ofpeople get stuck is they want the
perfect loan.
And that's not going to happen.
The perfect loan for theperfect price, you know, if you want
try and you know, get higherreturns, it's going to be higher
risk, there's going to be morehair on the asset.
Just like a house, the morerenovated the house, you know, the
(09:56):
higher the cost.
Of course, always do your due diligence.
You know, we talk about thethree Ps, the person, the predicament,
and the property.
And just ask yourself, is itworth the investment?
And really do that due diligence.
Now, it's great that I spitout all of that, and we've talked
about that in the past.
(10:18):
But here's where I think Ireally break down the answer from
now to then, because it wasmuch easier to have the funds back
then.
Today it's not so easy becausenotes are more expensive today.
Maybe you're ready to invest,but you don't have 30, 50, $100,000
or more to buy a note outright.
(10:38):
A lot of tapes we see now,it's very rare to see a balance under
$50,000.
Back in the day, almost everytape I was chasing had balances less
than $50,000.
So here are some smart realworld ways headed into the game and
sometimes maybe not doing it alone.
(11:01):
Option one, partner withsomebody else.
I don't know why it'sinteresting because the space is
not competitive in the senseof, like real estate, where, you
know, you don't want to showyour secrets or whatnot.
But in the same token, I'm notsure why more people don't partner.
I know there's a group ofwomen out there who partner on loans
(11:22):
and they each put in, youknow, 10, 20 grand or whatever that
number is, and they're able tobuy an asset.
And each one has a specificskill set that they work together.
For some reason, I find, youknow, and I'm not meant to say this
in any negative light, I findin this industry, women work better
together than men.
I don't know if it's an egothing or what, but, you know, that's
(11:45):
something I see.
And there's plenty ofopportunity there that you could
partner with somebody and findthe deal, manage it.
And I'm not talking a jv,where, you know, this other person's
kind of in the sidelines.
It's two people who want to bein the space.
It's like, hey, let's joinforces, work together, learn through
this together.
(12:06):
Now, each put in 20 grand,split the profits, you know, and
go on our way.
So that's one area where Ithink you could get in.
Another is, you know, buying apartial note, which some sellers
are for partials, and you buy,you know, five years of cash flow.
(12:28):
I used to do this frequently.
I used to have over 75 loansthat we had sold partials on.
Now that we have our fund, youknow, that's not the case anymore.
We're not selling partials inthat sense.
The one thing I'll mentionabout a partial and some people use
term partial, some people use hypothecation.
(12:50):
Understand your role.
Are you managing the note oris that other person managing the
note?
If it's that other person,you're not really going to learn
a lot.
You'll basically get some cashflow in the door, but it's going
to be much more passive for you.
And if you're really lookingto learn, I'm not sure it's going
to fill that cup.
(13:11):
So if partials don't fill thatcup, what can fill that cup?
We mentioned the, you know,partnering, we mentioned other avenues.
The other asset class thatdoes have lower price notes is land.
(13:32):
And some areas of the countrythat have some manufactured homes,
you can see loans in thoseareas that again are going to be
in a market where you can buyloans for 5, 10, 15, $20,000.
It will be much higher risk.
Just calling out their land isgoing to be a higher risk than a
single family because it'smore illiquid.
(13:54):
You know, people can't live ina land, People can live in a house.
So there's going to be morepeople wanting that property if it
goes to foreclosure, have totake it back.
And land, it's going to haveto be most likely an investor that
wants to buy that because it'sprobably land that's a little more
rural and there's not peoplechomping at the bit to go build a
house, especially today intoday's economic environment.
(14:18):
But there are a lot of peoplewho, you know, like to buy land or
own land and will pay.
You can get it at a servicer,you can learn the process.
And I think that's reallyimportant to understand the boarding
process and the other aspectof note invest investing of just
having your loan at a servicer.
But also realize after thatprocess it's pretty boring because
(14:42):
you gotta wait every month seeif that person pays or not.
It's not like you need towatch your loan every single day.
I did that when starting out.
I don't know why I would justgo in and log in and some of them
are not performing.
But I'm like, why am I doing this?
Should be looking at otherloans or whatever else is going on.
The other option, which againI know people do, I don't typically
(15:04):
recommend this is buy a secondposition mortgage, which again typically
sell for more of a discount,typically lower priced.
The reason why I say I don'ttypically recommend it is if you
do have to foreclose.
How are you going to deal withthat first position loan?
(15:25):
Or if that first position loangoes to foreclose, do you have the
funds to pay it off or toreinstate it?
And most people gettingstarted do not.
So that's the reason why it'snothing with them, you know, not
being a good loan or whateverthe case may be.
It's all about how much moneyyou have.
I know people are verysuccessful in the second note space
(15:47):
and do really well, but theyalso have money behind them as well.
So some final thoughts.
You know, let's recap.
You know, a decade ago, as Imentioned, you could find these smaller
notes all day long.
And today's inventory hasshifted, but that opportunity is
(16:08):
still out there.
And we have some notes in ourportfolio that we're selling right
now that have balances below50 grand or can be acquired for 50,000
or less.
Can you find stuff now for 5or 10 grand like you could a decade
ago?
It's just a lot harder.
But you know, again, you'reprobably looking at land.
(16:28):
It just takes time and hustleand recognize.
Real estate, including noteinvesting, is not a get rich quick
scheme.
If you have $25,000 and youbuy a performing loan, great.
You make 2,500 bucks a year.
$200 a month, I think that's great.
(16:50):
I know people who sometimesthough, see on Instagram or YouTube
somebody telling you how tomake 250 grand your first year.
Unless you have spent yourcareer in marketing, sales and have
a really good network ofpeople with a lot of money, you're
not gonna get there.
(17:11):
It's just reality.
First few years of noteinvesting, you should plan for long
term and take all the moneyyou make.
If you make any in the firstyear, reinvest it.
It wasn't until the third yearI was involved in note investing
that I really saw substantialgains because I was reinvesting,
you know, that money and thattime and you know, systems processes,
(17:34):
you know, a little bit here on training.
I was reinvesting it because Iwanted this long term and put a plan
to grow.
And you just don't grow from 0to 100 loans overnight.
It takes a lot of time andcommitment, which I feel like I've
done.
So for those getting startedtoday, yes, it's harder.
(17:55):
Just like it's harder to buy ahouse and afford a house, it is no
different.
But here at 70, we are here to help.
And if you're interested inmore information on how we can help,
we have a very smallmembership group.
We provide a lot of free content.
We're hosting a conferencecalled the Paper Trail Conference
(18:18):
in September in Chandler, Arizona.
Go to papertrailconference.comand check us out on YouTube.
We've got so many tools,resources, strategies to help you
move forward no matter whereyou're starting from.
So thanks for listening to thePaper Trail Podcast.
Hit that follow or subscribebutton and we will see you next time.
(18:41):
Take care.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.