Note School Review – Eddie Speed Scam?

Today, we are going to talk about Note School in this review. Is it legit? Scroll down to find out more.

One thing that I have noticed is that there have been a lot of different training programs and courses popping up recently. Especially for real estate investing. There’s been this big boom in real estate investing in the last couple of years. And it seems that a lot of them are focusing on different strategies when it comes to real estate.

Some people like Tresa Todd focus more on fairly standard strategies including house flipping and the BRRRR method. Those two seem to have a fairly low barrier of entry. It still takes a lot of time and effort. But it’s one that people will be able to learn fairly easily.

And it’s not to say that getting into real estate is easy. It’s definitely not. But there are a lot of different ways to get into the field. Some vary wildly in how you can approach it. Though I never really get why a lot of real estate gurus seem to imply that you can reach six-figure digits easily. The properties are valued at six figures, sure. But it takes a lot of experience in order to reach that kind of profit.

So when I learned about Eddie Speed and Note School, I was kind of curious. I had never really heard about him and his school. But seeing as his niche existed with real estate investing, I was interested to check it out.

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Note School Review: Quick Details

  • Name: Note School (often stylized as NoteSchool)
  • Founder: Eddie Speed
  • Website: https://www.noteschool.com
  • Type: Training program
  • Niche: Real estate investing
  • Recommendation: Like any real estate investment strategy, it’s hard to recommend it to people who don’t want to put in the work when it comes to real estate

Who Is Eddie Speed?

A screenshot featuring Note School founder Eddie Speed

Any company has its founder. And in the case of Note School, it’s Eddie Speed.

Eddie Speed has had more than four decades worth of experience in the real estate investing field. Compared to a lot of other real estate investors who focus more on buying properties and selling them within a few months, Eddie focuses more on notes. We’ll talk about that a bit more later on.

Sometimes, you need to find a different niche to be successful at. There’s no reason for you to be compete with other people in an over-crowded field. Real estate investing has different strategies that people can try out. When you’ve reached a certain level of experience in the field, you can probably try out a different niche. But sometimes it’s hard to do that when you’re already used to that one thing.

Eddie Speed pretty much only had two major companies to his name. The first one is Colonial Funding Group which is his real estate firm. It shouldn’t be a surprise that his firm is focused on notes and mortgage. That company is the one that he has had the longest. The second and most recent one that he has is Note School. He founded the school about 20 years into his career in real estate.

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Some Notes About Notes

Notes are basically an agreement between a lending institution and a borrower. It’s pretty much the terms that you have to abide with when you borrow for a mortgage for a house. Like any loan, you have to pay for it monthly. And when the borrower cannot fulfill their obligation, the lender will basically use the property as a collateral.

Everybody in the real estate business owns notes. Notes can be classified as performing and non-performing. Performing note basically means that those notes are all up-to-date with their payments. Non-performing notes are basically the opposite. Borrowers are often three months behind on payments when a note becomes non-performing.

So Why Do Real Estate Investors Like Purchasing Notes?

A lot of real estate investors purchase notes because there is a likelihood for them to get a return on those notes. If a note is performing, you can income from the interest payments being paid monthly. You don’t really have to do all that much but you get some amount of money every month.

It seems that mortgage notes are fairly low-risk compared to other real estate investment strategies. But it all depends on what was agreed upon in those note. Not all notes are created equal. But most of them offer some flexibility for you as an investor.

I think you can sell part of your notes to another investor so that you can earn money. (If you’re strapped for cash yourself, pretty much.) But you still own a good chunk of it. Notes get sold around from investor to investor. The terms are often good for about 30 years or so. There’s definitely a lot of time for you to possibly earn money.

Some Notes About Note School

Note School instructor Brian Lauchner

Note School, often stylized as NoteSchool, is a company that is focused on training programs and classes about notes and the process of purchasing and selling them. That’s pretty much it. There’s really nothing else about the company.

Eddie Speed and his team offer two major classes: the one-day “Gold In Notes” class. Based on the video that features teaching team member Brian Lauchner, the class is pretty much 90-minutes long. It doesn’t seem like a lot of time for you to be able to learn. But it’s pretty much an introductory class. The problem I think with the class is that it’s worth $97. You’re basically paying at least a dollar for every minute of that virtual class.

Then there’s the three-day “Rich Rewards In Notes” class. Before we get into that class, have you noticed how the titles for the classes seem to over-exaggerate the potential of notes? The one-day class uses “gold” then the three-day class uses “rich rewards.” It definitely seems that they want to lure people into thinking that you’d be earning your weight in gold when you purchase notes.

Sure, you can earn a decent amount of money from purchasing and selling notes. But I feel like you’re putting expectations in your students’ heads that might not as expected.

A Few More Details Regarding “Rich Rewards In Notes”

Back to the class. It’s definitely longer than “Gold In Notes.” But it’s somehow ten times more expensive than that. It has to do with that class being in-person. There are a lot of fees that mostly related to renting out a space for it. Note School goes to different parts of the country to do these classes.

The cost for the program is $997. But there’s discount code for $250 off on the website. But it’s still a lot of money for people who want a more in-depth session that the one-day class may not have provided.

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Final Verdict – Note School Review

We’ve come down to the last part of the review. I have given an overview of what Note School is and what it’s all about. You have learned what notes are. But there’s still a question still lingering. Should you partake in one of the classes being provided by Note School?

The answer to that is no. While Eddie School and his team may have decades of experience in this specific niche, I don’t think that price for those classes justify what you’re about to learn. $97 for a one-day class seems kind of steep. Especially if the class is only 90-minutes long.┬áSame for the three-day class.

There’s really not reason for you to pay that much money. When a lot of resources regarding real estate notes are available online. There are tons of videos about the topic on places like YouTube. Even Eddie Speed and Note School has their own YouTube channel. Why would you even pay for those classes when you can just watch videos from them?

Real estate investing is definitely not for anyone. Even if purchasing notes is the closest you’d get for passive income, you will still need to find those kinds of notes. You can’t just expect to get those kinds of notes without putting effort into looking for it.

Not everybody has the kind of money to purchase notes. Real estate investing requires a lot of time, money and effort to do well. But success is never guaranteed. Especially when the market is volatile.

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That’s it for my review of Note School. I hope you enjoyed reading it.

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