A note is essentially an IOU — someone needs money, they give you an IOU, and you give them the money. In real estate, notes are used in lieu of using a bank. You buy a piece of property using owner-financing, making the seller play the role a bank normally would. When done correctly, cutting out the middleman and purchasing real estate with notes can increase efficiency and facilitate money-saving win-win situations for all parties involved.
Mencarow is a note wiz — he’s been doing this for decades and knows just about everything there is to know about notes, from performing to non-performing, mathematics, percentages, and the effects of interest rates.
Thinking about investing in notes yourself? Abhi and Bill also talk about what makes the ideal investor for making money with notes.
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