NoteSchool - February 2022

NoteSchool - February 2022

NoteSchool News FEBRUARY 2022

I’ve said in this newsletter before that I grew up a cowboy, but I’m not sure how many of you folks believe me. In case you’re still a doubter (and also because Valentine’s Day is right around the corner), I’m here to share a love story straight out of a Wild West movie. If you can believe it, horses brought me and my wife, Martha, together 40 years ago. At the time I was working in Missouri as a horse inspector. The job involved riding horses and training them for other people, and I was plenty prepared for it after growing up in a cattle auction barn, rodeoing, horse showing, and graduating from a ranch management program at Texas Christian University. Martha was a beautiful Southern lady who had a traumatic past with horses. Someone had put her on an animal with too much gunpowder (what a non-horse person might call “spirited”), and the horse had thrown her right off and dragged her through the dirt. You don’t forget an experience like that. Martha was very scared of horses, but she wanted to get back in the saddle, so she asked me and my roommate, another horse man, for help. Martha came out to the barn where I worked and started riding my old horse, Jabo, who was really gentle and broke. I knew he wouldn’t hurt her. For me, seeing Martha on that horse was love at first sight. I’d never met a woman so beautiful! She carried herself well, too, and it didn’t take me long to discover we shared the same spiritual and family values. Neither of us grew up slick or with silver spoons in our mouths — we had to work for what we had. When Martha started paying attention to me in return, I could hardly believe it. I’m not a particularly good-looking guy, and although I’m fairly entertaining, you would never in a million years have called me a “ladies man.” Still, there she was smiling at me! By the time her whole family came out on a Sunday afternoon to watch her test a horse for sale, I was smitten. How Horses Brought My Wife and Me Together A COWBOY AND COWGIRL IN LOVE

That Sunday was the first time I’d ever met Mr. Shoemake, Martha’s dad. My roommate got Martha onto the horse, and Mr. Shoemake and I stood back to watch her ride, trying to see if he would be a good fit. We got to chatting, and afterward, Mr. Shoemake invited me back to their house for refreshments. You could say that was both my first real date with Martha and my introduction to the notes business! When I got up from the table six hours later, I had an invitation to meet Mr. Shoemake at his office bright and early the next morning to learn more. The rest, as they say, is history. Martha didn’t buy a horse that day, but she did get a husband out of the deal! She also kept riding Jabo right up until I sold him to pay for her engagement ring. We got married on July 17, 1982. It was 105 degrees F, and back home, our U-Haul was packed. As soon as we got back from our honeymoon at Disney, we hopped in, hit the gas, and moved to Texas so I could start my own notes business. Over the years, Martha has been my Southern belle and my most steadfast supporter. There were plenty of times in our life journey that most women would have given up on me or told me not to go after my

dream, but Martha understood that I was stubborn and a visionary at heart. She gave me free rein to pursue notes, and we’ve had a happy life because of it. You can, too, and if you haven’t had your own Wild West love story yet, I bet it’s also on the horizon. You just have to go after it.

–Eddie Speed

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NEWS IN A

According to an interview with Stanford Magazine, Mary Barra is a self-proclaimed red convertible “car girl.” Her eyes gleamed as she talked about the day she first saw her cousin’s Chevy Camaro convertible, a late ‘60s vintage model. Meet Mary Barra From ‘Car Girl’ to CEO of GM

When you keep your eye on the news, it helps your nose sniff out opportunities in the market. Here are the most significant stories affecting the real estate industry, brought to you by NNN (NoteSchool News Network). HOME AFFORDABILITY HITS 13-YEAR LOW, CONSUMERS AND REHABBERS FEEL THE PINCH • Affordability is affected by increases in home prices and mortgage interest rates, which are outpacing the rise in household income. Family budgets are also squeezed by higher energy and food prices competing for the mortgage payment. • DSNews reports that according to a survey by LendingTree, 7 in 10 households with a rent or mortgage payment have had to make sacrifices in other areas of their budget to make their monthly payment. One in 5 have chosen to pay their rent or mortgage rather than have enough to eat. • The LendingTree study also reveals that 48% of households with a monthly rent or mortgage payment say they were worried about making that payment during the past month. Those most worried were: Gen Zers (67%), millennials (59%), parents with kids younger than 18 (59%), households making less than $35,000 (57%), women (57%), and renters (57%). • According to the same survey, for 30% of consumers, one job is not enough to cover housing expenses. And 3 in 10 consumers have taken on additional jobs to earn additional income toward monthly housing costs. Others reported borrowing from loved ones, taking money from savings, or selling something of value. • House prices are up 19.6% YoY, and the average mortgage rate is up 3.1%. (One year ago, it was 2.74%.) The average household income is $69,347.

At that moment Barra knew she’d love cars forever, so she worked on cars as soon as she could. In fact, she was

only 18 years old when she started working for General Motors (GM). She worked her way up while earning a couple of college degrees, and she held multiple engineering and administrative positions at GM, including managing the massive Detroit/Hamtramck assembly plant. By 2014, Barra became the CEO of GM and was the first female head of a “Big Three” automaker in the United States. It was a dream come true — her appointment even earned her a spot on Time’s 100 Most Influential People in the World of 2014.

However, during her first year as CEO, GM faced one of the worst scandals in the U.S. auto industry: the GM ignition switch scandal.

Faulty switches resulted in 124 deaths and 275 injuries, which prompted the Senate to conduct an investigation. Barra’s court appearances led to a public outcry against GM, forcing the company to recall nearly 30 million cars due to their defective ignition switches. Although no federal charges were pressed against Barra or the GM executives, the company paid $120 million in settlement claims and offered $595 million to victims and families affected by the scandal. Barra’s subsequent actions became key. She fired 15 employees, including eight executives, for failing to respond quickly to the defective ignition switches. Additionally, she initiated GM’s shift toward electric-powered cars, including the Chevrolet Bolt EV, which became the first electric car with a range of 200 miles priced under $40,000, a milestone that warranted significant coverage. According to GM executives, a major reason for Barra’s corporate and entrepreneurial success is not only her passion for cars, but also her skill to listen and communicate well with others. Her “consensus approach” involves conducting town hall meetings to seek input from the majority of people, not just top management. This allows every employee to be heard, and that inclusive environment remains a crucial part of GM’s ability to thrive far beyond its darkest days.

• In the four-week period ending Dec. 19, the median home price rose to $360,500, which is an increase of 15% YoY.

Chocolate Pecan Fondue

This Valentine’s Day, forget the entree! Surprise your honey with a delicious chocolate treat! Inspired by TasteOfHome.com

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NUTSHELL

OUR 1-DAY CLASS TURNED BUDDY’S LIFE AROUND From Note Failure to Note Success

• The top five markets with the biggest decline in affordability YoY are: 1) Phoenix (-33%), 2) Charlotte (-32%), 3) Tampa (-31%), 4) Jacksonville (-29.3%), and 5) Memphis (-27%). • Because of financial hardships, 45% of consumers are seriously considering moving to more affordable living areas. The segments most likely to consider moving to save money are Gen Zers and renters. HOME INVENTORY HITS ALL-TIME LOW, CONTINUING TO DRIVE UP PRICES • Across the country, available home inventory is down 26% YoY for an all-time low. Compared to January of 2019, inventory is down 45%. This shortage contributes to high prices, with buyers having to outbid other offers by paying above asking price. This is putting a pinch on fix ‘n flippers who struggle to buy inventory at a discount. • First-time homebuyers are especially challenged by the drop in affordability and availability, making them good candidates for creative financing. MORE MILLENNIALS SELL CRYPTO HOLDINGS TO FUND DOWN PAYMENTS • As millennials enter the homebuying market, a Redfin- commissioned survey reported by The MReport calculates 11.6% of first-time homebuyers surveyed in Q4 of 2021 have liquidated cryptocurrency assets to help fund their down payment. In the Q2 of 2020, the number was 8.8% and stood at 4.6% in Q3 of 2019. • With cryptocurrency going mainstream, and more companies accepting it as payment (such as Microsoft, PayPal, AT&T, Amazon, and Home Depot), will it someday become a tool in the creative financing toolbox? Stay tuned.

When Buddy Morris found NoteSchool, he had a problem: A bad note was holding him back from his investment dreams.

“I had purchased a note, and I didn’t know what I was buying at the time, when I was very new to it, and it just so happened that it went delinquent,” Buddy says. Buddy had no idea what to do about his overdue, unpaid note — until he started taking classes with Eddie, including NoteSchool’s 1-Day Live Training Class. In it, he learned how to succeed in the notes business directly from Eddie and experienced real-world case studies. He also got to network with peers and pick their brains for help and ideas. It was exactly the resource he needed to reverse his note trouble for good. “Because of all the NoteSchool training, I knew how to get [my delinquent note] resolved and am in the process of getting it resolved. So, I’m very happy about that,” Buddy says. Today, Buddy is totally hooked on notes. He’s a self-proclaimed “big believer” and a NoteSchool student with ambitious plans for his future portfolio. “I haven’t really invested in [a note] just yet, but it’s going to be imminent — I’m going to be doing it eventually, either through a Roth IRA or direct investment,” he says. “I always think that Eddie is a great teacher, and I always enjoy his classes.” Buddy is just one of many NoteSchool success stories. Thanks to Eddie’s teaching, he was able to turn his initial note failure into a success! Now, he’s poised to launch a lucrative investment lifestyle that will support him and his family for years to come.

INGREDIENTS

• 1/2 cup half-and-half cream • 2 tbsp honey • 9 oz semisweet chocolate, broken into pieces •

• 1 tsp vanilla extract • Fresh fruit of your choice • Shortbread cookies • Large marshmallows

To start down that same path, all you have to do is sign up for one of our 1-Day or 3-Day Live Training Classes. Whether you’re new to investing like Buddy or just want to take your creative financing skills to the next level, Eddie’s tips and tricks will be game-changing.

1/4 cup pecans, finely chopped

DIRECTIONS 1. In a sturdy saucepan over low heat, combine cream and honey. Stir until mixed thoroughly and heat until warm. 2. Add in chocolate, stirring until melted. 3. Stir in pecans and vanilla. 4. Transfer to a fondue pot or a slow cooker to keep warm. 5. Serve with fruit, cookies, and marshmallows of your choice.

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3 Steps to Identify Your Value FEEL CONFIDENT IN BUSINESS! 1 Eddie and Martha’s Wild West Love Story 2 How Mary Barra Helped GM 2 News in a Nutshell 3 Chocolate Pecan Fondue 3 How to Overcome a Delinquent Note 4 3 Steps to Identify Your Business Value Inside this issue

We’ve all been taught that bragging is annoying, but when you’re afraid to identify your worth, it can really hurt your confidence and success in business. To prevent that from happening, here are three tips to make it easy to name your price! No. 1: Get to know your value. How do we figure out our value? Specifically, how do we come up with a quantifiable method to reach an exact, irrefutable number? Well, we don’t. The best place to start is deciding who you want to be in your business and industry and building from there. With a solid mission statement and concrete affirmations that support your value in the business, you’ll gain more confidence in arriving at a price point. No. 2: Be open to receiving — and giving — love. Accepting compliments can be tough, but in business, compliments can be powerful catapults to your continued success. When you take time to notice all the people you’ve helped, the accomplishments you’ve achieved, and the difference you’ve made,

the motivation it fosters is monumental. Keep your happy emails, texts, and reviews from clients and create an easy reference for instant, uplifting support. If a client seems happy, never be afraid to ask for a testimonial. Many people simply need to be asked, and they’ll be happy to provide one. In the same stride, consider the people who help you and your business every day and find ways to show appreciation. Passing that love around can make a huge difference in energizing the way you perceive your value. No. 3: Make the final game plan. After considering what your offerings are likely worth, whom you’re looking to serve, and what they’d be willing to pay, you can name your final price. After all, prices don’t fall from the sky. Without obsessing over it, look at what kind of value your competitors have set for themselves. That’ll give you a great starting point. Take good care of yourself, friends — and don’t forget that a confident price tag is a great way to do just that in your business.

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