Which One? - Posted by John Behle
Posted by John Behle on October 22, 1998 at 16:09:30:
I haven’t seen Terry’s course yet, but have heard many good things about it. Knowing Terry and his background and with the feedback I’ve had, I would recommend it highly. Expecially because Terry is “like minded”. We have somewhat similar approaches. Most of the other material and approaches out there are just teaching you to broker notes as a job.
Brokering notes is just a high paying job. Investing in notes is both a job and an investment. All the benefits with 100 times the upside potential.
Most of the other courses out there would be like comparing Tom Hopkins to William Nickerson. One is a fabulous trainer on how to make greater commissions. The other is a fabulous trainer on how to make 100 times as much buying, selling, trading and improving properties. There are only a handful of “Paper” courses that actually teach it as an investment. Both Terry and I approach it that way.
I can’t compare since I haven’t seen Terry’s course, but my course is geared towards paper as an investment, while at the same time making at least as much money up front as those that are “flipping” notes. There is an emphasis on high yield paper techniques by both creating and improving paper. The improving paper aspect is very rare. Only a couple people in this industry even attempt to teach it. That isn’t because it is too hard, just advanced. It just sounds so easy to hear about “flipping” notes, which is why it is taught.
Some of the emphasis on creating “Bird dogs” is because it is a way to start, but some of it is also because they want you to find notes for them. It’s also a lot harder job as an instructor to teach you to be independent.
I wrote The “Paper Game” back in 1982 and it was highly advanced. I then expanded on many of the areas with the books “Mortgage Magic” and “Creative Paper Formulas”. The course is still more advanced than anything out there, but is still simple enought that someone understanding the basics of discounting and what a note is can fully benefit.
My course covers financing notes. How to work with and cultivate private investors and banking relationships to finance notes 100-150% and still have a positive cash flow. Particularly in the “bootcamp” video tapes. The 5 day training was the first on the subject of discounted paper and went way beyond the others. Past and present. I just never charged $7,000 for the bootcamp. Sometimes in this world you can buy a Ferrari for less than a Yugo.
If anyone wants comments from students and what they learned, email me and I’ll send a few pages worth or a few hundred if that helps.