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On this Real Estate Hustlers Podcast episode, we will be talking With more than 40 years of experience, Eddie Speed is renowned as one of the nation's top note educators. He founded NoteSchool, an esteemed training company that focuses on educating individuals about purchasing both performing and non-performing discounted mortgage notes. His structured note-investing education has led thousands of students to success. Additionally, he holds the positions of Owner and President at Colonial Funding Group LLC, specializing in acquiring and brokering discounted real estate secured notes. Furthermore, Eddie is a principal in a family of Private Equity funds dedicated to acquiring bulk portfolios of notes.

1. Eddie explained the basics of note investing, likening it to being the bank for a property. Instead of owning the property, you own the mortgage note, which is a promise to pay that includes the principal, interest, and payment terms.

2. He clarified that properties do not need to be free and clear to create a note; you can have an underlying mortgage and still offer seller financing, known as a wrap note.

3. Most note investors start as traditional real estate investors before transitioning to buying notes. Eddie himself started directly as a note buyer and now runs NoteSchool to train others in this field.

4. He emphasized that you don't need millions to get started in note investing. There are strategies to recapitalize and keep investing, such as selling parts of the note (partials) to passive investors.

5. Notes provide a return on investment and a return of investment, as you get your principal back incrementally as the loan pays off.

6. He shared that his team has extensive experience in handling foreclosures and reselling properties with owner financing.

7. Eddie shared some fascinating stories from his career, including buying notes on unique properties like a mansion and an avocado orchard where John Travolta once lived.

8. He also touched on the current favorable market conditions for note investing, given the interest rate environment and the cost-to-rent ratio.

   
   

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