Fred Rewey (00:11):
Hey everybody. Welcome to Fred and Tracy’s show. It's Note Investing 101. It's a mini-series we put together to kind of give everybody an understanding of the note industry and the note world. This is the “Ask Us Anything” episode. This is free for all of you to ask us anything you want, in this session.
Tracy Z (00:34):
We also have some most commonly asked questions because whenever we do this, we answer emails and phone calls. We typically get some of the same questions over and over. We have those to present as well.
This is live! You can ask us anything that you want as well. Just a brief quick disclaimer. We are not attorneys or tax advisors or financial advisors. If you need any of those things, we encourage you to seek out that competent counsel and past performance. This isn't a guarantee of future results. This is information that we've gleaned from our 50 plus combined years of experience of doing this business. Note investing is a wonderful world for us. There are so many opportunities in the note investing world. It’s a way for the average investor to be the bank, if they will.
Now let's kick us off with our first question.
Fred Rewey (01:23):
Thomas says, “ Do you know where I can find listing examples of creative financing terms? When should they be used like Assumable and Wrap?”
Tracy Z (01:46):
Absolutely. We do, Thomas, thanks for joining us. On our website www.noteinvestor.com, we actually did a video in a write-up on creating seller finance notes. It’s a brief overview of what's most attractive to a note investor. If somebody was going to buy the note, we find that the terms that are attractive to a note investor have the same kind of terms that make it a safer investment for the person that's carrying the note, that's handling the seller financing.
We also have a full-blown Creating Notes Masterclass, where we go into all the transactions, how to negotiate the terms because we have the most favorable terms. Then we talk about wraps and partials and all of those great things.
Generally investors like to see higher interest rates and lower LTVs and good credit scores, but when they meet those criteria, they might even actually qualify for bank financing. We really go into depth on the specifics of how you negotiate when the LTV isn't perfect or when the credit isn't perfect. When they want a lower interest rate, there are some things like shortening the term that you can do. That is a great question. Thanks, Thomas.
Fred Rewey (02:52):
Well, one of the questions is “How big is the note business?”
Every year, we crunch numbers and summarize with the data. We have it, we're usually trailing a year because we can't get all the data immediately.
Tracy Z (03:08):
Right now we're waiting as we speak the 2020 numbers should be coming in. Our data provider polls from the County records every year. In 2019, there were $23.9 billion with a B of seller finance notes that were created and over the last five years, because there's a trailing inventory.
There's a lot of inventory out there, especially when you think about notes being created for 15, 20, 30 years. In the last five years, or it was over $100 billion of seller finance notes created on residential land and commercial. What's interesting about that is it doesn't include seconds. It doesn't include unrecorded transactions. It doesn't include business notes. When you add all those things in there, it is an even larger number. I tell everybody, we just need a small slice of the pie to work with. And there's plenty there.
Fred Rewey (03:57):
There's roughly just as a ballpark. It's roughly 6% of all real estate transactions that are actually privately done like that. If you're looking for a year to year and stuff like that, it's roughly it's plus or minus, depending on how it goes down, but it's roughly 6% of all real estate transactions. Even more when you start talking about business notes and things like that.
Tracy Z (04:15):
We had a question submitted. Tell me again, “What to do if you have money to invest versus if you don't have your own money?”
Fred Rewey (04:24):
Even if you do have money to invest in, you are buying your own notes. You're probably going to do both at some point. If you're just starting out and you don't have any of your own money, then you're going to probably flip notes. It's also a really good way to kind of cut your teeth and learn the process and not be investing your own money. With that, you're going to find a deal. You're going to get all the information. You're going to pass it onto a funding source. You're going to subtract your fee and offer something to the seller. Then they're going to help you close it. When you have your own money, you just take out the funding source and write the check yourself.
Do you want to talk about what happens if you're doing both?
Tracy Z (05:06):
I was going to add one thing, you can also use your self-directed retirement account to purchase, or you could, as Fred mentioned, you could do both. You could buy the note in full and then sell a partial to another investor. Their purchase of part of the payment stream would cover your purchase of the full. Then you can create yourself a residual income, some future cashflow. That would be a way to do a participation in a transaction without having your own money and using an outside investor, but keeping a piece of the note out into the future. That's one of our favorites. We love it.
Fred Rewey (05:42):
We love partials on all those seller finance notes.
“How do you deal with the fair market value of the house/property, knowing that the seller finance houses typically sell higher retail, MLS listing prices that change your LTV?”
Absolutely, it's an outstanding question. I can tell you as an investor or anybody buying notes, you're always going to go for the lower value. By the way, if you're looking at a note that says it sold five years ago, and someone thinks it went up in value. Maybe you get an appraisal that comes out a little bit lower for your ITV and LTV issues. As far as figuring out what you're willing to put in, you're always going to take the safer number between the two. You're going to take the lower number. If the property is sold for a hundred thousand, but it appraises for 80 and everybody feels pretty good about the appraisal at 80, then you're going to base your numbers off 80, not what it really sold for.
Tracy Z (06:32):
In the Creating Notes Masterclass, I suggest using as a rule of thumb when creating notes about a 10% variable. When you sell with owner financing, that's considered an amenity or a concession, a financing concession. When appraisers do adjustments, they may or may not take that into account. We usually say that if you're selling with seller financing, you can get about 10% more than the standard asking price than if somebody came in the full cash or conventional offer. With real estate prices appreciating like they have been usually depending on how long you wait that 10% gap will get covered up. But Fred is a hundred percent, right. If the BPO or appraisal comes in lower, most investors are going to use that lower amount. How much down payment that buyer has is important.
Tracy Z (07:23):
If you're in there, you definitely don't want to set a buyer up where they're underwater. If you're in that situation, then investors might look at offering a partial. They may say, “Oh, I'll buy the next five or 10 years of payments. When that performs well over the next year, then I'll go in and buy some more payments.” There are ways to do that, but you're very smart for asking that question because you do want to keep an eye out for that. Both for selling the note and also for the buyer, the borrower, you want to make sure they're set up for success.
Fred Rewey (07:49):
“How do you explain discounts?”
Tracy Z (07:53):
Well, I'm going to give you that.
Fred Rewey (07:55):
We've done entire member webinars not only on what the discount is and, and how to explain it, but also how to position it.
There are five different ways which I won't go into now, because that takes an hour to go through. Discount is the difference between what they wrote the note at interest rate wise and how much I want to make on it.
If they wrote the note at 6% and I want to earn 12%, then that's where we're going to create the discount because we can't go back and change the seller's payments. We can't change their balance. I'm going to buy the same cashflow for less money and that's going to create whatever the interest rate is or whatever my interest rate requirement is to create that discount.
Fred Rewey (08:35):
Now that discount could be created because of the difference between the interest rates. It could be because I'm only willing to put in 80% of the value of the property. And it turns out, the numbers show, I could have paid more, but I'm like, well, this is, this is my ceiling. This is as much as I'm going to be able to put in. We have a tendency to tell sellers that look, there's several variables to it. It's going to be how long they've paid what interest rate you wrote it at and what the property's appraised for.
Tracy Z (09:00):
Another way to explain discount is if someone had come in and offered you cash at closing, would you have been willing to take a little bit less than what you sold the property for when you seller financed? Usually they'd be like, yeah, somebody's going to pay me cash. I would love that. What we're doing is we're essentially paying them cash. All cash now. For that privilege of getting all cash, now there is a little bit of a discount and sometimes we have some other strategies where we'll take the discount.
We'll divide it by the number of months that are left in the amortization to show that it averaged out over time. It's just a little bit they're giving up. We have several ways to do that, depending on the reason the note is being discounted. So that could depend as Fred mentioned several situations. That is how we would explain that depending on the particulars of the note.
Fred Rewey (09:48):
Charvonne asked, “do you see the note space eventually becoming oversaturated, like wholesaling?” It's a great question.
If you were to ask me that 25 years ago, I would've said absolutely. I know what it's done for me, it's part of why we do this is to give back quite a bit. I was in a 500 square foot apartment doing these deals out of there as I learned the industry and things like that. I thought once everybody understands this and knows about this, everybody's going to do this. But I guess it's like everything else not many people are going to put in the time and learn and move forward. And a lot of people may think this will not get us rich quickly.
Fred Rewey (10:32):
It's a good return. But people always look for the next shiny object. Like, “ Oh, hey, we're on, we're on Forex Trading this week or on options trading this week, or now we're going running over here and we're doing something else.”
We are flipping, we are not HGTV, I don't think it's any more mainstream today than it was back then from the standpoint of being over saturated. Do I think that there's competition? Sure. I think that the internet created us seeing each other as competitors, more than before. It used to be when you direct mailed somebody, they didn't even know they could sell. The only thing that's really changed is sellers are more aware they can sell their note than they were then, but I don't actually see it being over saturated anytime soon.
Tracy Z (11:24):
What I see is that there is some compression in pricing. It's more competitive, which is great if you're selling notes. So you have to really sharpen your pencil when you're buying the notes.
If you feel like you're encountering too much competition, one solution to that is getting into the space where you're creating notes yourself, or you're helping sellers that are investors of real estate create notes. That is a way to carve out your own piece of the market that you're not going to bump into competition because not as many people are doing that. You're creating your own notes. You wouldn't compete against yourself to buy or sell notes. That is one way as I see some of the competition picking up that you can carve out your own little space in there. That's a great question.
Tracy Z (12:07):
When I got started 1988, everybody kept saying, “Oh, it's, there's too much competition.”
I think maybe activity does breed activity and it becomes more commonplace. More people get involved and we have a bigger market and maybe the seller financing, the mom and pop investors will take over a piece of what the banks are doing.
I also think there's one other reason that we're really strong on the seller financing side of the business. That is because lenders are starting to restrict their lending criteria. They're requiring higher credit scores and bigger down payments. We see people that have had some hiccups in their income due to COVID and that sort of situation in the economy or in their regular paychecks.
Because of that fewer what they call non QMS or non-qualified mortgages, loans are being made. That's really where seller financing fills the need. If you look at stats, we've been tracking them a long time, you’ll see that when they're set in a situation, the amount of seller financing goes up. So there's more opportunity to help people.
Fred Rewey (13:11):
Someone asked, “What do you typically want for a pay history on a newer originated seller financed note, six to 12 months or more, or do you consider the borrowers’ FICO score 750+ to 800 to be, to reduce your risk?”
Tracy Z (13:23):
Investors would love to have six to 12 months, that would be optimum and preferably verified through a third party servicer or some kind of verification that the payments were made. If they have a good credit score and a decent down payment, there are a lot of investors that will purchase that note with just one payment made. They do want the transaction to close and get recorded, and one payment made to the seller.
What kind of notes are those? Well, there are investors out there and on the institutional side.
If it's a 680 score and with a 10 to 20% down in the balances, over $80,000, that they'll look at those with one payment made in the 95 percent and up range. Now some notes are going to pay less. Some of those are going to come back and say, we'd like six to 12 months seasoning. That credit score and the down payment really do dictate how many months of seizing it's going to need.
Fred Rewey (14:12):
Someone asked, “ what tools do you use to calculate the best way to create a partial sale?
We use calculators. it's not rocket science. I mean, once you understand the cash flow aspect of it, you just find the different ways to break it. But the deciding factor on what or how to purchase a partial or what offer to make a partial is your own ITV requirements, your own yield requirements.
Tracy Z (14:41):
We also use something called a T- Value amortization schedule. Because as much as I love my financial calculator, what we find is that when you're buying and selling partials, someone would like to see a printed out amortization schedule. By using the T value amortization software, we're able to have a printed schedule and we can show the full schedule. We can still show the partial schedule and what's left over. Interestingly enough, we believe in that software so much that when people join our note investing tools membership, we actually give them a full online subscription to T Value.
We are an authorized reseller of theirs, and they've allowed us to give that to our members. That's one of the benefits we have. We have a whole training class on how to use T Value in the note business. And so those are both tools that you can use. There's other types of amortization schedules out there. We really like it because it has a lot of flexibility and it's been proven to work really great for calculating IRR, which is what we do in the Note Investing world.
Fred Rewey (15:46):
Randy asks, ‘what's the difference between flipping a note and brokering a note and do you need a license?’
Tracy Z (15:51):
Flipping and brokering notes pretty much the same, right?
Fred Rewey (15:55):
They're exactly the same. Much like we don't use the word ‘lending’ because we're not lenders. Brokering can misconstrue what you relate, what your function or relationship is in the transaction is that you don't represent the seller.
You don't represent the funder. I think that was just a term that switched several years ago that just called it flipping plus also people were used to hearing about flipping houses. So it made sense to say flipping notes.
Tracy Z (16:26):
When we talk about four different states, it really depends on how you're transacting your business. Are you coming in on the secondary market and buying a note on the secondary market. If you're originating a loan, like not a seller financing deal, but actually lending money. Of course there are mortgage brokers licenses.
We don't answer specific state questions, but we can direct you to a couple of good resources of links, the NMLS site, and also there's another state by state site. We'll follow up in the show notes and we can do that as well, just because for legal reasons, we aren't able to give specific advice in all 50 States.
Fred Rewey (17:03):
One of the questions we get a lot is, “Should I have a website?”
Absolutely. I think even the simplest brochure website is important.
Tracy Z (17:14):
Yes. I think that it used to be, you had to have a brick and mortar business. Now, fortunately, it's very acceptable for you to work from home. I think you have to have a website because it's your presence out in the world. It shows that you're real, you're legitimate. We all do it. We go Google and look up a company or a person before we do business with them as you should. Definitely. That website is one of the things that is an indicator that you're for real. And fortunately they're not very expensive anymore.
Fred Rewey (17:43):
Someone asked and it's just a follow up question. Do you use any note evaluation software that may have been typed in before?
T Value is great for also when you start getting bizarre cash flows. You want to save them because the calculator, you don't can't really save anything. It's super helpful for that. It's our go-to for anything particular. When you start talking about things that get off the grid, or you want to retain things,
Tracy Z (18:03):
Check out noteunlimited.com. We're not getting anything out of plugging them, but they have some great evaluation software that shows a variety of exit strategies. Pulls in data from the different sites. I tend to use an Excel spreadsheet, still a lot to keep track of things. Fortunately their program and others out there. You upload and download the Excel spreadsheet as well.
Fred Rewey (18:28):
We get asked a lot about the retirement accounts. Because we mentioned that you can buy notes in a self-directed retirement account. A lot of people don't know you could do that.
The answer is, yes, you can set up a special account for that. When you buy a note out of your self directed IRA, the money does not go to you. Actually, the payments have to go into your IRA. Don't get that check and cash it. I think you're going to just deposit into your IRA. But basically you use your self-directed IRA to fund a note and the payments go back in there. The great thing is there's no limit to what your IRA can make.
You can get very creative on that. You can actually have a traditional IRA that you can convert over to one that you just did direct where all the payments go. You do a lot of this with quest and some of the other companies
Tracy Z (19:14):
I have been doing a self-directed retirement account, investing in notes since 1997. When I left the corporate world, ‘88 to ‘97, I bought notes for an institutional investor and ran their closing department and worked in their underwriting. Then when I went out on my own in ‘97, I rolled over my 401k into a self-directed retirement account and bought and sold notes out of there.
I also do a lot of guest speaking for Quest and New View. You have lots of options. When I got started, I think there was one or two, and now there's probably 20 or 30 that are all really good at what they do. You can do a Roth, you can have a solo 401k, you can have SAPs, you can have HSA health savings accounts that invest in notes.
Tracy Z (20:00):
There's so many options out there and you can go through your custodian. The big thing is you have to educate yourself on the benefit of your IRA. That's why it has all these tax advantages. That means you have to know who the disqualified people are and to avoid what's called a prohibited transaction.
Don't be writing loans to your family members, your spouse, your children, your parents. The IRA companies do a great job of explaining what to do. That's the main thing you've got to look for, and also not to take possession of the funds. As Fred mentioned, there's other ways you can do it. You can set up an LLC, that's wholly owned by your IRA. Some people do that. They have a little bit more control when you're first getting started with it.
We suggest you go through your custodian, cause they'll direct you in the right way of the do's and the don'ts. Then when you get that down, then you might do something more advanced, like setting up a trust where your IRA has a beneficiary or setting up an LLC.
Great questions. I love the IRAs. There's lots of great networking events as well on the IRA group.
Fred Rewey (21:07):
These questions today have to do with the membership because it is open. As I mentioned earlier, the membership only opens twice a year. It happens to be opening today and they'll run for a couple of days.
First of all, what is the Note Investing membership? It's a private membership where Tracy and I teach. We'll give you the link in a little bit, but basically you get all of our training. All of the member webinars, which we do every other week. We have a Note Mastermind. It's everything, it's everything we've ever created. We figured there were several different components that you needed, but basically you must have the education.
Tracy Z (21:49):
One of the things we added because we had the training before we had the membership. One of the pieces that we felt was missing when we did the membership was one-on-one consulting. We have live webinars, which are like group coaching calls. Then people can also book one-on-one consults with us. They usually use those to go over a deal.
It's a private conversation where they want some input on a deal. We can't give investment advice, but we can definitely say, here are the things I would ask. If I was buying that deal. Here's the things to look out for. And then a lot of people pick us, because Fred is our marketing genius. A lot of people schedule one-on-ones with Fred to go over their marketing plan just to tweak it to improve it.
Tracy Z (22:38):
I'm really proud of the coaching side. People are charged tens of thousands for coaching. Ours is very affordable. If we're going to do this, it has to be at a price point that if we were getting into the business, we'd be willing to pay because we're the skeptics, right?
We like to get a really good value for our money. We don't mind paying for something if it's good value, but we're not going to go drop 10 or 20 grand because we go buy a note. If we were going to do that.
Fred Rewey (23:03):
It's not a secret. We haven't raised the price and there's a reason why the doors are only open twice a year. It's $97 a month. There's no long-term commitments. The reason it's only twice a year and the reason we limit the number of people that are in there is because it's us.
We don't outsource the help desk. We don't outsource anybody creating the videos. We don't outsource any of the new classes every year. We're adding different training. You added the Creating Notes Masterclass before that we had how to calculate cash flows and finding cash flow notes. We have many series, due diligence and all these other things. We've got some coming up. The members get access to everything in addition to the ongoing webinars.
Question. “When do you open the doors?”
They're opening today. Like I said, it's been 181 days since we last opened up the doors. We will keep the doors open for seven days. The fact of the matter is, is that as we've done this, every time we've opened up our doors, which has been two and a half years now. We have been able to accept less and less members because yes, some people leave and they go on and do something else or whatever it is, but a lot don't and we have a lot of members that are actually involved in other things. They still stay with us because there's value there. We're big on over-delivering. Like I said, some of this is for us giving back. The intent is to keep it on for seven days. If we have to close it a little bit sooner, or you're seeing us late, then I apologize, but I don't think you'd want it any other way. We make sure we have the number that we can handle.
Tracy Z (24:47):
Some people ask us, do you sell us deals?
That's one of the things Fred and I talked at length about when we did this. We feel like if we're going to train and teach you we shouldn't sell you deals at the same time. When we evaluate a deal, we're comfortable saying, yeah, maybe here's what I would ask. We teach you how to go find the deals and we'll help you evaluate the deals without giving financial advice. We'll just get directly to the right vendors. People that we've had good experience with will help you crunch the numbers to make sure you didn't miss anything in your calculations. That's the kind of support we're doing, but we don't sell you the deals. There's lots of places as we talked about in the marketing class, that you can go find the deals.
Fred Rewey (25:33):
Just to add to what Tracy said we're not going to partner with you. If you say, “Hey, I'm looking for a partner to go into this deal with”, it's not going to happen. I mean we're Switzerland.
We're going to continue to educate. We’re not trying to sell you a deal or partner with you on a deal or anything like that. We very much keep our world to what it is. Which is education and support and being able to show people what we've done. Like I said, it's a very big give back thing for us. We've been very fortunate. We've lived our lives all over the world and still been able to do our note business. We've lived in Guatemala for eight months. We've lived in Italy.
Tracy Z (26:10):
I mean, I'd rather be Italy than Switzerland.
Fred Rewey (26:17):
John says “ Fred and Tracy, you're legit, I've gotten a lot out of their memberships.”
Thank you, John. We really appreciate it. I actually, I don't know if it is like bad luck to say this, but I was realizing today because we were opening up the doors. I don't think we've ever had anybody complain about the membership, ever. We've had people like to leave to go on and do something different in their lives. Changes where they can't continue the membership. We have people literally apologizing for dropping out. Anybody that drops out and says, “Hey, look, you know, we'll keep a seat for you” or something like that. But I'm super proud of what we've built.
You can talk to any of the members or anybody that's been a member and it's never been about not having provided that service. We are stupid in our over-delivering ability.
Tracy Z (27:01):
We enjoy it. We have what has become a Note investing family. We have a community and we have the Mastermind that we all get on a big zoom call and brainstorm different things. In addition to the group coaching calls, the training, the teachings that we just found, that was another element that people wanted to get to know each other, that was in the training as well. Those are optional.
Some people are camera shy and that's okay. We don't put people on the spot. The membership with the Mastermind in that community has been really nice. We did run it off of Facebook. Now we've set up our own private community. Because some people don't want to have their business on Facebook. I don't blame them. That's been a nice addition. We grow and expand as our members ask for things. You guys have given us great ideas.
Fred Rewey (27:53):
The Mastermind started this year and we're pretty excited about it. It's this upcoming Monday. What we're doing this Monday is we're going to role play a lot of what we create. What we're doing comes from member requests and questions.
You walk into a library that has several hundred videos ready to go. Matter of fact, any of the members that come in this next week can have access to all the old member webinars, which is 88 hours of member webinars. And they're all really, really good. There's a lot of great content.
Fred Rewey (28:32):
We get our ideas from members. This coming Mastermind, we're going to role play, buying a note. I'm going to pretend to be a note seller and people are going to gather the information.
Tracy's going to be the funder for them and how they would buy and what they would pay. Then we're going to break it apart. Talk about, Oh, here's what I would have said differently. Here's the questions I would have asked. We do some of that.
Tracy Z (28:56):
Thomas had a good question. Other people ask this and we just want to answer it.
“If you have purchased a prior training you still always own access to that. What if you want to add the membership?”
We have had a lot of people do that. What you get different in the membership is you get the coaching, the one-on-one coaching, you get the coaching webinars, you get the Mastermind, you get all the archived information. We have a lot of additional materials as far as eBooks you can use and email scripts and things social media, content posts. Some people have purchased This is the easiest way for me to explain it. Because that's a really good question. It's like if you buy a movie, you own the movie for life. And that's basically what this is, when you buy a training.
Tracy Z (29:47):
Then when you purchase a Netflix subscription, you have access to those things while your subscription is current, that's what the membership is. Some people add on the membership to the training because they want the one-on-one coaching and the support and the access to us. Sometimes they'll just do that for a few months. Like I said, there's no long-term commitments. If you call the Support desk to end it that day, you wouldn't get a future billing. Then you just go back to using your training. However you choose to do it. We did both options because some people like that affordable monthly option. Some people just want to purchase the training. Some people don't want the support. You have options.
Fred Rewey (30:18):
If you're a member, you get access to anything that we create in the future as well. That's something, even the cashflow expos and the wives expos, those we throw in. Which is why, again, we keep the count pretty low on there.
I guess we're just about out of time.
Let me give you the website where the doors are open right now. Just go to www.noteinvestor.com/member. We just opened up the doors as of 1:30. I'm talking about great timing. if you get there or you see this video late, and there's a waiting list, I apologize. I'm sorry. You didn't see this in time, but you know, our intent is to keep it up for seven days.
Fred Rewey (30:55):
I don't know that it'll be there. There's no long-term obligation. If that, if it's live and it says the doors are open and you can grab a seat then grab a seat. We're looking forward to helping you there. We have one thing right out of the gate that I would say to focus on would be the 90 day course. There's what to do in your first 90 days.
Tracy Z (31:22):
It was because we have so much material and we've over-delivered in the material. It got a little hard for people. They would go, “Oh my goodness, where do I start? There's so many videos. There's all these four full blown training sessions. I have a 475 page manual. Where do I start?”
If you're new to the note investing world, that's just give you a 90 day quick start. Here are the must read things to and things to do. Here's your action plan for the next 90 days. Then as you're doing the business. You're going to get these other questions that come in and you'll be able to go pull from the other training and dig deeper if you want to learn about hypothecation or you want to learn about partials.
Fred Rewey (32:00):
Just email us at info@noteinvestor.com and we'll respond to your question.
Tracy Z (32:14):
“Lending on a note versus buying the note.” There's pros and cons to each. It depends on the situation. We did a whole full-blown webinar on that because here's lots of different agreements out there.
We have people that didn't graduate college like myself, and just really good with working with numbers and people and good at marketing. This is a good business for anyone who wants to work at it. That is looking to maybe add onto their existing real estate business, or to find an alternative way to invest. That's backed by real estate. They're concerned about the turmoil and the stock market. It's just an alternative way to diversify. It's a really great concept too, because when we talk about how to calculate cash flows in one of our training sessions, it really gives you the pieces and the tools you need to analyze any situation. Whether you're buying a car or paying off a credit card.
I'm really proud of that training. .
Fred Rewey (33:12):
You should be. It's the training that I said that everybody needs, but no one cared about. And I was completely wrong because everybody needs that. And you did it. That was a labor of love.
Tracy Z (33:20):
One of our members came and he said, I had a mom who was a math teacher and I love my mom, but I had her as a math teacher. Because I lived in a small town and I couldn't do math. I hated math. All I could think of was I would freeze. Then he said, I finally love the calculator. I am now teaching other people how to use it based on your course. That was one of the biggest compliments. His mom's proud too. I'm sure.
Tracy Z (33:45):
We look forward to working with you. If the timing is right for you, we welcome you. If it's in the future, you can still hang out, be part of our family.
Subscribe to our noteinvestor.com blog because we have lots of great information. We'll be publishing the new stats as well. Just to remind you, if you are interested in the Membership it's www.noteinvestor.com/member.
We really appreciate your time here today.
Tracy Z (34:25):
Happy Note Investing
No comments:
Post a Comment