Should you be a full-time or part-time cash flow note broker?
IF YOU ALREADY HAVE A JOB: Don’t give it up now! Do not try to be a note/cash flow broker without having another source of income. Brokering commissions come in slowly and are usually few and far between at first. I tell people to plan on making NO money for the first 6 months. Cash flow note brokering is a part-time business for all but a very few. You´ll make a nice side living as a broker, and maybe someday you´ll go full-time. Let your brokering business tell you when that time has come. How will you know? When you discover that you´re making more money as a note broker than in your regular job, and that you enjoy being a note broker more. Then give that situation a year or two. If nothing changes, then, and only then, make the jump to being a full-time note broker. In other words, when you´re starting out, “don´t quit your day job.” IF YOU DON´T HAVE A JOB: Look for one while you broker notes.
To Whom It May Concern,
I would like to start out as a note broker but I do not have money to purchase any notes for right now. So, I was contemplating about becoming a note finder for potential investors. Also, I was wondering do you provide any literature for a beginner that would want to be a note investor initially but later become a note buyer?
Tim, it sounds like you haven’t taken my free e-course. That will give you the information you need. — Bill Mencarow