Starting a Note Company

[Keturah Rucker]

Does anyone have an idea of a great company or program that will show you the complete steps to starting a bank note company, buying non-performing notes & the full process to turn them into performing?

[Patrick Desjardins]

Here's the painful truth: that kind of info isn't readily available. You can collect some nuggets of information by reverse engineering what others do, and you can learn some aspects of note investing through training programs, but 99.99% of us aren't equipped to create a real "business" out of notes.

Most of the real players in the industry are spinoffs from big hedge funds who come in with crazy amounts of capital / low cost money. So for every Bob that painstakingly starts something and raises 1-5 million, there is a guy on Wall St who starts investing in NPNs with 1 billion and controls the inventory.

So our definition of "starting a bank note company" has to be pretty relative to our means.

As others suggested if I were you I'd start by buying a handful and if you can turn a profit, grow from there.