28 Oct Eddie Speed Shares How He’s Bought 50,000+ Deals
If you wanted to learn about all the creative finance methods, you’d contact someone who has done over 50,000 transactions, right? Eddie Speed has been there with 40 years in the industry, done that, and seen it all. He even has a school dealing with creative financing.
Video replay of my interview with Eddie Speed about How He’ Bought 50,000+ Deals
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More about Eddie Speed Shares How He’s Bought 50,000+ Deals
Eddie grew up around horses, but in 1980 he learned there’s more wealth to be built with a pencil than a rope. That’s when his father-in-law, a pioneer of seller-financed notes, taught him the ropes of the note business. Eddie has been perfecting his craft ever since introducing creative innovations that changed the way note investing is done.
As the nation’s most experienced note buyer, he has closed over50,000 note deals. He launched NoteSchoolin 2000, where anyone can learn the art of creative financing for performing and non-performing discounted mortgage notes. Heis the owner and president of Colonial Funding Group LLC, which acquires and brokers discounted real estate secured notes, and he’s a principal in a family of Private Equity funds that acquires bulk note portfolios.
Thousands of NoteSchool students have testified to the wealth-building, life-changing power of his tried-and-true, data-driven approach to note investing.
Takeaways from Eddie Speed How He’s Bought 50,000+ Deals
- Have the willingness to try, reach out for support, and be persistent.
- Implying the present value of future dollars is another good way of leveraging your price.
- Have a unique/specialized knowledge to direct people to get what they want to get what we want.
- Leverage, the IRS strategy wherein the owner can defer capital gains over many years, then bake a forbearance agreement.
- Do NOT place Seller-Financing in your ads. Instead, say, “Private financing for a deserving buyer with a large downpayment.”
- You could circle the bought notes and sell them back to the burned-out landlords.
- Look over the hill and see what could affect inventory.
- Give something of a premium value for free, so you can then grease the wheels so that then they can do business with you.
- Start with a good piece of property, and then you start next with how to attract the buyer you want.
- Work for the future. Don’t just rely on transactional income.
- Focus on creative terms and buying from landlords with the tax strategy.
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About Steve Trang
Steve Trang (https://www.stevetrang.com) is the founder of Real Estate Disruptors. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a 2nd leg to their business. The podcast has grown to tens of thousands of followers, with new community members sharing their success stories every week.
Steve also created the OfferFast Homes app. The app’s purpose is to help wholesalers jump-start their careers faster by putting all buyers in one place. The hope is to minimize the challenge of building a buyer list when getting started in wholesaling.
Steve’s legacy will be to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. It’s essentially one of the core values Steve lives by.
Since starting Stunning Homes Realty in 2013, the brokerage has had over 130 agents. In the greater Phoenix area, SHR has an almost 1% market share. Stunning Homes Realty sold one out of every 137 homes in the Phoenix metro (https://www.stunninghomesrealty.com).