ABOUT NOTES101.COM AND KENT ANDERSON.
I was introduced to the note business in July of 1988. A friend of mine, Kirk O’Dell, to whom I am forever indebted, suggested I drive up to Denver for Michael Ira Meeker’s $500.00 seminar called “How to Buy Mortgages Workshop.” I didn’t know a thing about discounted mortgages or real estate, but thought if I took the seminar I would at least learn something about the “time value of money” concept and gain exposure to real estate investing.
But during the seminar I realized I could start a business that did not require huge franchise fees or other mortgage-my-house start-up costs in an industry in which I had always been interested: local real estate investing. I could also work out of my home providing benefits too numerous to mention. I especially realized the note business would work well with my personal situation, since I had a self-directed retirement account for which investing in notes would provide extremely healthy yields that would compound tax-deferred (even tax free) for many years.
And the blessed man that I am, I also had the support of my most wonderful wife who wisely viewed the note business as another source to diversify the funds in our retirement account at very good profits.
I took my first steps exactly as the pros advised . . .
Per Mr. Meeker’s instruction, I began buying discounted notes by brokering them to institutional investors. I only had to broker a couple to realize I was comfortable with the underwriting process, so I began buying discounted notes with the capital in my personal self-directed retirement account. I continued to broker notes to institutional investors as well, since they accepted yields lower than the ones I wanted for my investments. And not wanting to pass up any profits, I brokered those lower yielding notes for fees, which paid operating expenses. In a nutshell, that’s how I got started in the note business.
New profit centers were devised . . .
With the educational guidance, support and professional influence learned from Michael Ira Meeker, Peter Fortunato, John Schaub, Jack Miller, Dyches Boddiford and David Tilney, I started another profit center that blends superbly with the note business: buying/investing in single-family houses to acquire wealth. Currently, I mix both types of investments into my real estate investment business for acceptable results. Meaning I don’t live on a yacht and walk around with $100 bills hanging out of my pockets, but I sure am happy with the results of my involvement in the note and real estate business.
Continuing education is key . . .
The material in my home study course flows from my more than 20 years of experiences working with note sellers, and more than 30 years of self-employed business/sales experience. My bachelors degree from the University of Iowa is useful, yet the most valuable information and approaches I can pass on to you come from my been-there done-that situations, and education which took place after my formal training. You, too, must be willing to not only learn and apply the underwriting concepts explained in How to Buy Notes and Mortgages without using your own money, but also apply your free time to continuing education by learning from other competent educators in the real estate business. You may miss a few ball games or favorite TV sit-coms, but the effort is well worth it in the long run.
An additional profit center . . .
Today I view my note business as an additional profit center to my current real estate business activities and we live off other income. Yet should you decide to operate a note buying business on a full time basis, the material in this course will give you the technical information and the institutional investor contacts for a good start to a full-time note buying business.
I look forward to sharing with you in my home study course everything I have learned and profited from over more than 20 years.
Sincerely,Kent Anderson
President, Notes101.com
