https://youtu.be/O1mkC1OhM6Y
Eddie Speed, Owner of Colonial Note Funding Group and Founder and President of NoteSchool, is driven by a passion to help people compress time by teaching them how to invest in mortgage notes effectively.
We learn about Eddie's journey from entering the note investing industry at a young age to becoming a leading expert. He explains his framework for evaluating mortgage notes, which focuses on assessing credit, qualifications, and property type. Eddie emphasizes the benefits of being "the bank" rather than owning rental properties, offering practical strategies for individuals looking to achieve higher returns and cash flow through note investing.
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Compress Time with Eddie Speed
Good day, dear listeners, Steve Preda here with the Management Blueprint podcast. And my guest today is Eddie Speed, the owner of the Colonial Note Funding Group, and Founder and President of the NoteSchool, teaching people how to invest in performing and non-performing mortgage notes. Eddie, welcome to the show.
Thank you so much. I'm glad to be here.
Oh, it's exciting to have you and to learn about this whole piece of the capital markets that seems to have been off limits to retail investors and mainly dominated by banks. But let's start with your personal “Why,” what drives you as an individual and how are you manifesting that in your business?
Well, the first thing I would say about my “Why” is I'm blessed to do something that I actually love to do. That's a blessing. I know a lot of people can't say that with integrity, but I'm blessed with that. And so part of my “Why” is, I've been doing this now for 44 years. So my “Why” today is to compress time for people, to show them a possibility in a way compressed period of time, because I think I can get down to, in the military they call it the hot wash. The quick accelerated version of how this works. And so, that allows me to be a go-giver. That allows me to build legacy. That allows me to go show people a lot of things.Share on X But really, you know, my “Why” today has become focused on, if I know this and I think it's good, how can I show you much quicker of how it might be good for you?
So is it compressing time to learn notes investing? What's your answer?
Once you learn note investing, then implementing the business and all that becomes part of what that is. The “Why” is the end result. And so I look at it a little differently. My “Why” is casting a vision.
Okay. Why is this important?
I think we have a secret sauce in the industry. I really do. I think we have something that is really terrific for people, particularly people that have an interest in real estate but don't have an interest in the pain of owning real estate.
Okay, all right. So tell me a little bit about how this whole business of investing in notes, how this thing evolved and why is this an opportunity, a good opportunity, and how should people think of it as this whole asset class of notes. How does it fit into the big picture of people's investing and retirement planning?
Well, I was 20 years old when I started. My father-in-law and a partner that he had at the time were pioneers in buying discounted notes. They were doing it because of high interest rates in 1980. So a lot of people sell their finance properties other than going to the bank. And so we saw this big acceleration in people doing this. And all of a sudden they woke up and figured out, whoa, there's no secondary market. If somebody wanted to sell this note, where would they go? And so they were guys with real estate backgrounds and banking backgrounds. So they had a vision for this and they brought me in as a very young guy, 20 years old, and showed me this business.
Now clearly at 20 years old with not a significant business background before me, it was a lot of different things to learn, but I, within a couple of years my wife and I had married. So we went and targeted and moved to Dallas-Fort Worth because that seemed t...