Note Business versus Note Investing

[Martin Saenz]

Note Investor versus Note Business

Most folks that come into the space focus on acquiring some notes and make their way along a costly learning curve to get ramped up. What I suggest is focusing on setting up a Note Business versus Note Investing. From a sourcing perspective, I encourage folks to consider the Sourcing Life Cycle system.

It entails the following:
1) Start by building your identity. This entails focusing on putting together a current financial statement, determining your strengths and weaknesses, and pondering how you feel you can best carve yourself in note industry (and many other steps)
2) If you get situated with your identity, you’ll start to build a profile for yourself and determine how you best need to receive formal education for yourself (or not). There are different methods of education depending on how you wish to carve yourself into the space.
3) Seller Outreach: I recommend a combination of a CRM system, sources for researching potential contacts, and daily rituals that will deliver result on an ongoing basis. Cultivating daily rituals is where most people fail.
4) Social Media: Use with caution and only after you have formulated a path for yourself in the note space. Otherwise, you will find places like Facebook and LinkedIn will leave you confused as to your course.
5) Conferences: There are different conferences with various offerings. You need to know them all so you can best determine what fits in with your overall strategy.
6) Deal Flow: This will occur well for you only after you have done the previous steps well. I know many folks rush to get to deal flow and skip necessary steps. What tends to happen is they buy poorly and do down Learning Curve Lane. I’m speaking from experience.
7) Transact on Notes: You do this well over time, and it will further enhance your identity.