Posted by MN~Chicago on September 17, 1999 at 19:11:12:
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The note business - obstacles and competition - Posted by Tom C.
Posted by Tom C. on September 17, 1999 at 16:12:24:
I believe that I have, at some level, an understanding of notes, discounted cashflows, interest rates etc. Having said this, I’ll share an opinion…
It does seems that your course materials are well thought of and you appear to me to be sincere. However, it also appears to me that Notes have become very competitive and I question whether I, as a new comer should realistically expect to be able to find notes.
Does any part of your course materials address this? If so is the information specific enough to be of value?
Lastly, what do you consider the three impediments or hurdles that stop most people who enter this segment of the cash-flow industry?
Thanks for taking the time to respond.
Tom Cassell
Re: The note business - obstacles and competition - Posted by John Briggs
Posted by John Briggs on September 19, 1999 at 02:23:16:
I agree with the other posts responding to you. As a Broker in Real Estate (I admit, not notes but principal is the same). The people who didn’t know something couldn’t be done were the ones that did it.
I also posted a few times to a person who just started months ago. He kept comming up with what ifs and how bouts. Problem is you cann’t do it if you don’t think you can and it all ends if you don’t stop figuring all the angles and just go do it. Then you’ll see what you can and cann’t do.
Not That You Asked Me, I Just Happended To Be Passing By… - Posted by MN~Chicago
Posted by MN~Chicago on September 17, 1999 at 18:07:49:
I would first ask you to name ANY
business which is profit driven that
is NOT competitive.
Why ask that only of notes? Food
for thought.
The reason I am responding is because
I qualify as “newcomer” status. This
has been my first month of being in
business.
My “hopes” were to find a few notes,
and develop some on-going resources.
I am still working on the latter.
This past month, I found about
$1 million worth of notes, many of
which were not “worth” pursuing.
It does send a message: if you work
and look, you will find. That is the
only magic I have seen, so far. When
gold is mined, tons and tons of dirt are
discarded to get to the nuggets. Same
principle here.
The three biggest impediments or hurdles
you will encounter are:
- You
- You
- You.
If you have an interest, and you are
willing to do what is necessary, you
have elliminated 99% of your imagined
obsticles. The rest is to be expected.
Good luck. I’m sure John can give you
a more complete answer.
I agree 100% - Posted by DanM(OR)
Posted by DanM(OR) on September 17, 1999 at 18:21:11:
Tom,
Being a fellow '99 graduate of THE most extensive note training offered, I would have to agree 100% with Michael’s post. I have also been in the business the last month or so.
I almost fell out of my chair laughing when I read Michael’s post. I started writing the exact same post more or less.
The top three hurdles to being a success in life are those listed by Michael.
If you analyze all business opportunities and look for non-competition, you will get the same result. There is competition in all fields. However, there are niches and twists to certain fields that will put your competition in the position of employeeship. With the right knowledge, John Behle’s type, no one else will know how to close the deal except you and a few other cashflow crazy people out here. You won’t have any competition.
If you are serious about notes and going into this business. There isn’t anyone more qualified in the world to teach you. Consider yourself lucky that you found this place. I do!
I wish you the best of success in this business and would be glad to help you anyway I can.
Sincerely,
Dan Matejsek