Be The Bank: The Power Of Real Estate Notes
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In this episode of Jake & Gino: Real Estate Investing & Multifamily, hosts Jake Stenzia and Gino Barber welcome Eddie Speed, a veteran note investor with over 40 years of experience and more than 50,000 mortgage notes purchased. Eddie shares his journey from a young cowboy in Mississippi to becoming a leading authority in real estate note investing, emphasizing how the business allowed him to achieve personal dreams like winning amateur world championships in horse riding. The conversation dives deep into the mechanics of note investing—how investors can become 'the bank' by purchasing discounted or full-face mortgage notes, earning monthly interest, and benefiting from a built-in cushion through property equity. Eddie explains why notes are increasingly attractive amid rising rental property expenses and inflation, offering a more predictable, less hands-on alternative to landlord duties. He also discusses the importance of due diligence, leveraging techniques, and the role of technology—especially AI-powered valuation tools—in assessing note quality. The episode concludes with actionable entry points for beginners, including a free starter kit and a YouTube podcast series, 'Note School TV,' designed to demystify the process.
Becoming a note investor allows you to 'be the bank'—collecting monthly payments with less hassle than landlord responsibilities.
Notes are especially appealing today because rising rental expenses have reduced cash flow, making note investing a more reliable income stream.
A strong note has a solid payment history, sufficient equity in the property (cushion), and a borrower with a stable financial profile.
Leverage is possible in note investing—borrowing against a note or selling partial payments to fund new deals.
Technology, including AI-driven valuation models, now enables more accurate and scalable due diligence than traditional methods.
…and 3 more takeaways available in PodZeus
Introduction & Guest Welcome
Jake and Gino introduce Eddie Speed, the guest with over 40 years of experience and 50,000+ notes purchased, setting the stage for a deep dive into real estate note investing.
Eddie’s Journey: From Cowboy to Note Master
“I grew up in a cattle auction barn in Mississippi and I worked hard like really hard. And so when I got in the note business, it let me make enough money that I had a world class horse. And so I later won amateur world championship two different years.”
Why Notes Are Better Than Rentals
“People just love it a lot more than rent houses. Rent houses are, you know, they used to they've always sucked as far as management. Like you can't fix that.”
How to Buy and Evaluate a Note
“My number one question always is: What is the likelihood they're going to continue to pay as agreed on time? If you can check yes in that blank, then you're probably starting.”
Leverage and Financing in Note Investing
The hosts and guest discuss how investors can use leverage—borrowing against notes or selling partial payments—to scale their investments without large upfront capital.
“They've run $100 billion worth of existing mortgages through their due diligence process. And they've developed due diligence and predictability scores of values and condition issues of values based on $100 billion worth of business.”
“I grew up in a cattle auction barn in Mississippi and I worked hard like really hard. And so when I got in the note business, it let me make enough money that I had a world class horse. And so I later won amateur world championship two different years.”
“People just love it a lot more than rent houses. Rent houses are, you know, they used to they've always sucked as far as management. Like you can't fix that.”
Hosts
Guest
Eddie Speed
person
Jake Stenzia
person
Gino Barber
person
NoteSchool
organization
Note School TV
organization
Fannie Mae
organization
Freddie Mac
organization
Wheelbarrow Profits
organization
Peter Millar
organization
CamoPlan
organization
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