Wes-State Mortgage (buyanote.com) is a place that sells a course on how to do note brokering. Their $149 course on how to do it seems complete and they offer a 90 day refund policy on it. One red flag is that they offer as part of the package access to a national database of note holders. It seems to me if the commissions are as large as they are on their examples page, the last thing they would want to do is share access to the database of note holders when they could process them all instead. Most of the examples they cite are in the $5,000 range and I wouldn’t share those leads with someone who bought a $149 course from me if I could simply use them myself.

Note Brokering is where you buy notes (like promissory notes or other debt) and then sell them to an investor to make a profit. Note Brokering sounds easy and certainly the infomercials and web sites make the usual promises of vast riches and easy money.

The problem is, note brokering not easy and from what we found only a tiny fraction of those trying make anything at all. For one thing with note brokering there’s a staggering amount of competition of those trying to find people holding notes and buy them. Then you have to do the usual and buy low and sell high, which is hard to do unless the holder of the note is in financial distress. Then you have to shop around and get an investor to buy it, which will be below face value and again you have to get them to deal on that.

From the research we’ve done, note brokering has to be one of the most difficult ways to earn a living, and the failure rate is among the highest we’ve seen for any business. I would not suggest note brokering to anyone, you’d probably make more money and have less risk delivering pizzas than note brokering. There are free tutorials on the Internet on note brokering but the failure rate is so high I just wouldn’t invest all the time and money into it.