All Forum Posts by: Brooks J.

This is an old post but I thought I'd throw in my $0.02 anyway.

I've been associated with Noteschool for about 5 years and it's been a very positive experience. It is expensive and I wouldn't do it as a hobby... but I feel that I have gained back my money's worth and more with the education and webinar help that are part of their program. I've also had a little bit of one-on-one time with Eddie Speed and I feel like he is a legit businessman and all-around nice guy. The rest of the staff is top notch as well.  

I would recommend Noteschool to anyone who is serious about getting into the business.

I've been to NoteExpo the last two years and I can tell you it is definitely not a pitch-fest.  And if by education you are asking if you can go to NoteExpo knowing nothing about Notes and come out knowing everything, the answer is definitely no.  The note business is a little too deep for that. 

But as others have already said it is a great networking event and there are a lot of vendors. I also would recommend it if you are thinking about getting into the Note business (as I was at my first event) or already involved.

This thread is getting old but thought I'd add my $0.02 anyway.

I've purchased non-performing assets from PPR and, back in the day, went through their education program.  I was quite happy with all the above.

I've also purchased into the BawldGuy fund (offered via PPR), which didn't turn out as well.  Fund investors were supposed to be offered Notes for sale within the fund that theoretically would boost the overall yield but very few of these notes were ever offered, and now I don't think I've seen a new one in months. As a result, fund performance is mediocre at best.

Regarding the OP's question regarding cost effectiveness of buying notes, I think it is just like any other investment in that it depends on how you buy them.  One factor that greatly affects the cost effectiveness is the amount of discount offered on the note.  The discount is likely to be low for well behaved notes and higher for less behaved (e.g. defaulted) notes.  

As others have said, the note space is a steep learning curve but as you add to your arsenal of knowledge you can work out the less behaved notes and carve out better efficiency on your investments.

This is an old thread but I thought I'd add my $0.02 since I have first hand experience with Bawld Guy fund.

BawldGuy fund is, as you guessed, a PPR note. However, unlike the rest of PPR which deals primarily in 2nds, the Notes in the fund are 1sts. The problem with answering your questions about LTV or geo concentration is that the fund has offered very few Notes since the time I've been in, approximately 14 months. It's been a problem there, since obtaining Notes is what you need to get the yield up to par.

Hey Matthew, welcome to BiggerPockets and the world of real estate investing.

To get started I suggest you visit your local Real Estate Investors Association which meets several times a month in various locations, including tomorrow in Cary. Check out www.treia.com to join in and start networking!

Ramez,

I know several people in the Raleigh area that are doing what you are suggesting. Shoot me a note and I can give you more details.

Brooks

Thanh, I've found a lot of support in our local REIA. Check out www.treia.com for meeting details.

Hey Kerry,

I'd like to join all these others in welcoming you to BiggerPockets. Since you are near the Triangle area be sure to check out your local REIA at www.treia.com. It is a great way to meet and network with other investors. If you are able to make it to a meeting make sure to look for me!

Brooks

Are you familiar with the local Real Estate Investors Association? It's a great place to start meeting other investors. Check out Treia.com