Note Investors and Note Brokers

[Mike Moore]

Can anyone make a recommendation as to which type of employment would best provide a solid foundation for someone looking to enter the note business? Beginning as a broker, and then later as an investor. Any and all recommendations would be greatly appreciated. Many thanks.

[Andy Mirza]

@Mike Moore I've never been a broker but I don't think it's the best way to get in. You have to spend the time and money to develop relationships with buyers and sellers and develop trust.

If you have capital, you have the means of getting into the note business by jumping into the investor's spot and learning as you go.

If you want to get a job working for someone else so that you can learn the business without risking your own capital, I'd seek out private note funds. The smaller ones would give you the best opportunity to learn everything but might not pay us much or be stable in the long term.

I would try the bigger funds and try to get a job as an asset manager. You would be right in the thick of things and learn a lot.