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How much do you need to know to start flipping notes?

I’m one of those rare birds who started their career in notes. I didn’t come to it from some other facet of the real estate business.

I first started buying notes right around the time the wheel was being invented. (Actually it was waaaaay back in 1980.)

At the time, mortgage interest rates were through the roof (around 20%), so seller financing was the only way for many homeowners to make the sale of their houses go through. I made cold calls on realtors because they were often the ones who helped put the seller financed deals together so they could earn their commissions.

I bought a lot of those notes. I kept some and flipped some.

Why have I started in notes and stayed with notes? One main reason is because it’s one of the least competitive facets of real estate. Comparing the competitive level of note flipping with the competitive level of house flipping is like comparing an ant to an elephant.

Why jump into the house flipping field that’s insanely competitive when the note flipping field is wide open? Here at NoteSchool, we’ve taught thousands of people how to get started, and the field still isn’t overcrowded!

I have some advice before you start flipping notes. The first is to ask yourself if you’re chasing a relevant business model? Make sure your goals are realistic.

Next, be ready for on-the-job training. You don’t have to know everything there is to know to start making deals.

I’ve flipped tens of thousands of notes over the years, and I can safely say you learn by doing, not by sitting around watching Youtube videos.

I have lots more wisdom to share from my forty years in the trenches, so click on this link to hear more.

Thanks for reading,

Eddie

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