Why should I take the Workshop?
When I began note investing, I read over 15 books on the industry, attended events, and took a 3-day workshop with a national trainer. Given all of this, I still underwent a significant financial learning curve that took one year to correct. All in all, I found there were so many missing pieces in terms of branding, sourcing, vendors, peer networks, workout forms & techniques, etc. Our workshop is comprehensive and will fast track your success in the industry. Take advantage of the opportunity to fast track your learning curve by signing up for the workshop.
Nothing gets held back as we provide all the systems and vendors you will need so you get a winning start at note investing!
Why do I need the Forms Library?
The easy answer is you don’t need the Forms Library. However, chances are you will need to spend thousands of dollars and countless hours developing your own Forms Library. What is the cost of your time and money? Again, the way to success in the note industry is to spend your time sourcing notes and making them profitable RATHER THAN burdening yourself with back office admin work.
This Forms Library will allow you to focus on what really matters.
What is meant by a mortgage note?
A note, in general, is short for “promissory note.” In real estate, it’s essentially an IOU in which a borrower promises to repay the loan amount under certain terms to a lender. Usually it’s monthly payments of principal and interest over 30 years. It’s signed in blue ink by the people who agree to pay the debt and is sent to the lender.
How is that different from a mortgage?
A mortgage is what ties that note to a property that someone is purchasing. It gives the lender the right to take the property if the borrower fails to keep up with payments under the terms of the note. The mortgage is signed by the owners of the property being mortgaged, usually the same as the signers of the note.
Both documents are signed simultaneously at settlement when you purchase a home or take out a second mortgage. Because the note is held by the lender, the lender is able to sell it to other interested parties. Banks often do this when the note becomes distressed because it’s easier for them to sell the note than to foreclose on the property.