All of us at NoteSchool hope 2017 is off to a great start for you! Recently I reached out to some of my colleagues here at NoteSchool, Colonial Funding Group and Colonial Capital Management and asked each of them to share their best advice heading into 2017 for anyone in the note business. We recently published this in the January issue of The Buyline, but in case you missed it, I wanted to share it again. I’m not sure you will find any better advice all in one place!
Don’t talk yourself out of success. People do extraordinary things when they believe it can be done, yet almost always fail at the things they thought couldn’t be accomplished. You can!
– Eddie Speed
The cornerstones of a successful entrepreneur are what I refer to as “The Four I’s: Integrity, Intelligence, Initiative and Intensity. Use these as a filter when developing all your business strategies and making all your business decisions.
– Bob Repass
With the sea of regulatory changes undoubtedly occurring in 2017, discounted and distressed notes will continue to be a bellwether of alternatives for those investors who are best-educated about those changes and the opportunities presented.
– Ryan Parson
Stay engaged in the weekly mentoring calls, even if you have to go back and listen. The market changes and so do processes. The only way to stay in the know is to stay engaged. Best tip is to deploy your IRA funds….. Money sitting in your IRA defeats the purpose of having a self-directed IRA.
– Susan DeLaGarza
You can do anything you set your mind to, just stay focused on your business and be passionate about what you do.
– Charles Mangan
Pay attention to detail. On our Notes Direct platform, please make sure all information is correct before submitting your PSA. It saves a lot of time for everyone.
– Angie Repass
Know and understand your Big WHY, then REMIND yourself every day!
– Martha Speed
In all of your number crunching and deal-making, remember that this is first a relationship business. Whether those come in the form of private investors or the company you want to work with, people will want to work together based on how you make them feel first. Then you can get to the numbers.
– Czarina Harris
Work on building your investor network locally. Attend your local Real Estate Investors Association meetings and attend all local real estate Meetup groups to showcase your note business. If you don’t have a solid Meetup group locally, start your own! By doing this your investor network will grow exponentially in 2017.
– Joe Varnadore
The Note Business is a Lifestyle. Make sure you have your 5 year plan written down so that you know what you want from your business. What do you want to achieve and where do you want to be in your business 5 years from now. Don’t be afraid of what you don’t know and let it lead to inaction. Be confident that you can achieve everything you need to be successful. With the support you have behind you, you are a force in the market place that no one else in your area can compete with. If you don’t know where you want to go with your business you will wake up 5 years from now exactly where you are now. Be active, be present and be successful.
– Matthew Edwards
As you start 2017 remember these two things: Start your day by eliminating noise and chaos from your day and always focus on what will make you the most productive, not the busiest!
– Kevin Moore
In 2017 we foresee the largest amount of notes coming down the pike unlike anything we have seen before. Do not procrastinate in educating yourself on how to invest in your IRA. I would highly recommend making it a priority in maximizing your IRA and investment strategies for your financial future.
– Duane Gibbs
I would say “continue to hone the skill of due diligence and the art of evaluating the collateral package, this is a skill set that needs to be mastered to be great in the note business.”
– Ben Haught
Over 250 years ago Ben Franklin said: An investment in knowledge pays the best interest. Still true today. Be prepared for a changing market in 2017.
– Kevin Shortle
I love a quote that was introduced to me a few years ago by Jim Rohn, “You’re the average of the five people you spend the most time with.” I never realized this principal had such an effect on my life, without evening knowing. I owe a debt of gratitude to those I associate with…
Eddie founded NoteSchool which is a highly recognized training company specialized in the teaching of buying both performing and non-performing discounted mortgage notes. He is the owner and president of Colonial Funding Group LLC, which acquires and brokers discounted real estate secured notes. In addition, he is also a principal in a family of Private Equity funds that acquires bulk portfolios of notes.