NoteSchool - May 2022

NoteSchool - May 2022

NoteSchool News MAY 2022

HOW A DYSLEXIC C STUDENT BEAT THE ODDS Me? A Teacher? No Way!

National Teacher Day is coming up this month, and I have a burning question for you: Do you remember the name of your first-grade school teacher? I certainly do. I think everybody remembers that school teacher because first grade is a formative time in our lives. The people who teach us how to read a clock, count money, and tell a triangle from a square have a big impact on our little brains! But you don’t have to take my word for it. Over the years, I’ve heard that very thing from dozens of people who were taught by my mother, Margarette.

“Your mom was my first-grade teacher,” a man would tell me. “She was the sweetest teacher I ever had, and now she’s teaching my kids.” I admired my mom, but I never thought I’d follow in her footsteps. I have dyslexia and definitely don’t look like the school teacher type. Heck, I was a C student! Like a typical entrepreneur, I’m better at running a business than pushing a pencil. I got into the horse business and then into notes. Meanwhile, my sisters both went on to be public school teachers at the elementary level. I even married a teacher! We were a real school teaching family. But the idea that I would be a teacher one day never crossed my mind. Sometimes life is funny like that. Teaching snuck up on me. It started when I got pleasure out of teaching my dad the notes business. After that, when I brought people into the business, they had to learn, so I taught them. I didn’t know it but I was doing NoteSchool before NoteSchool. I must have acquired some gifts in the area of teaching even though they weren’t visible on the surface. To teach, you need to have a heart for the job and an aptitude for it. I think I have both, just like my mother. Most of all, I have an aptitude for tolerance. I know how to tolerate all of the different ways people learn. That might come from being dyslexic. Because of my dyslexia, I have to put things into pictures in my mind. That’s the only way I can

absorb a lesson. So I’m a very pictorial teacher! I draw a lot of graphs and build out stories one picture at a time. That’s why when someone in a notes class seems lost about the difference between notes and being a landlord, I don’t go up to them and say, “I’ve explained this to you, why don’t you get it?!” I stop and think instead. I say to myself, “Okay, maybe I didn’t explain it clearly enough, or maybe I didn’t explain it the way they learn.” Then, I try again! I get a lot of enjoyment out of explaining complex ideas in simple ways. I work at that really, really hard. Everybody in my office knows that before a class I’ll sit up all night trying to think of the right way to explain something. That’s part of having a heart for teaching. My mother lived a long life and passed away at 89 years old. She was the most ethical person I’ve ever known. I’m proud to be a little bit like her. Twenty years after starting NoteSchool, I’ve found myself teaching the kids of some of my first students, just like my mother did. It’s pretty ironic that after decades of thinking I’d never be a teacher I’m a multigenerational one to boot.

Teaching and mentoring are my callings. To find out more about the ingredients of a good mentor, turn to Pg. 3.

My mother was a first-grade school teacher in our hometown of Jackson, Mississippi, for virtually all of her career. I’m talking 35 or 40 years. She taught countless kids, and let me tell you what: Every single one of them remembered her name. They’d stop our family on the street or in church just to say so!

–Eddie Speed

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NEWS IN A

5 Podcasts to Boost Your Business Growth We’re Listening —Are You?

It takes keen minds to bring sanity to an insane market. The newshounds at NoteSchool have searched high and low to find out why home prices are so high and inventory is so low. Here are the most important news stories they found that you need to know. INFLATION ISN’T GOING AWAY • We’ve hit a 40-year high for inflation, now hovering near 8%. Just one year ago it was 1.75%. • To combat inflation, the Federal Reserve raised interest rates to cool things down — the 30-year fixed mortgage rate is now around 5%. One year ago, rates were 2.65%. • With home prices continuing to go up, plus higher mortgage rates, mortgage payments are 20% higher than a year ago. Affordability is everything when it comes to real estate. • The typical U.S. home in 2021 was $321,634, which is up 32.4% YoY. That’s $52K higher YoY. Interestingly, the median full-time U.S. worker earns about $50K. So the average guy who owns an average home made more in appreciation than by working at his job!

All of these podcasts are available on Spotify, Apple Podcasts, and a variety of other platforms.

‘How I Built This’ — Have you ever wondered what it was like behind the scenes in the early days of Coinbase? What about Expedia, Mailchimp, or Ben & Jerrys? The “How I Built This” podcast from NPR dives into all of those stories and more during fascinating interviews with founders and CEOs. Find out what hurdles they faced, how they overcame them, and what lessons you can steal to level up your own business. ‘Entrepreneurs on Fire’ — This award-winning podcast is hosted by author and thought leader John Lee Dumas. On it, he interviews entrepreneurs like Tony Robbins, Seth Godin, Gary Vaynerchuk, Barbara Corcoran, and Tim Ferriss and extracts business tips for you. Tune in for episodes like “How to Raise $400 million on the Internet and Build a FinTech Business with Jilliene Helman” and “Earn More with LinkedIn Sales Navigator with Julbert Abraham.” ‘Business Made Simple’ — If you’re a fan of “Building a Story Brand” by Donald Miller, then “Business Made Simple” is for you! On this podcast, Miller hosts and offers strategies for building and optimizing your business. He covers topics ranging from “How to Escape a Villain Mindset” to “Is Word- of-Mouth Marketing Dead?” ‘BizChix’ — “BizChix” is catered specifically to women entrepreneurs and hosted by business coach and strategist Natalie Eckdahl. The episodes mix business and advice and training with on-air coaching calls and interviews. If you’re looking for specific tips like how to pivot your client base or get in the hiring mindset, this podcast will be a perfect fit for you.

• Zillow predicts home price growth of 17.3% for 2022.

• Average monthly rent for single-family homes is now up 17% to $1,883. But the average home mortgage payment has gone up even more than the average rent. • The overall value of residential real estate grew by $6.9 trillion in 2021 to $43.4 trillion, which is more than double the level from a decade ago. Properties owned by landlords have increased in value, and there are strategies to work with landlords to buy their properties and help them offset capital gains taxes.

• Oil has gone down slightly, and gasoline is a little bit more affordable than a month ago. So that helps slightly.

MOTHER’S DAY BRUNCH RAINBOW FRITTATA

‘Wisdom From the Top’ — Hosted by Guy Raz of “How I Built This,” this podcast expands beyond business leaders to glean leadership tips from all fields, including army generals, scientists, and reporters as well as CEOs. As the podcast’s description puts it, “You’ll hear accounts of crisis, failure, turnaround, and triumph, as the leaders reveal their secrets on their way to the top. These are stories that didn’t make it into their company bios, with valuable lessons for anyone trying to make it in business.”

Impress Mom with this delicious breakfast recipe! Inspired by EatingWell.com

INGREDIENTS

• Nonstick cooking spray • 1/4 cup sweet potato, diced • 1/4 cup yellow pepper, diced • 1/4 cup broccoli, chopped • 8 eggs

• Basil, thyme, salt, and pepper, to taste • 1/2 avocado, pitted, peeled, and thinly sliced • Cherry tomatoes, halved • Sriracha hot sauce (optional)

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NUTSHELL

HOTTEST MARKETS ARE IN SOUTHERN STATES • Some 90% of potential home buyers are concerned about rising energy prices. Commuting distance was also a concern, due to the cost of gas. A milder climate is also important for energy costs, boosting sales in southern states. • The top 10 housing markets are Tampa, Jacksonville, Raleigh, San Antonio, Charlotte, Nashville, Atlanta, Phoenix, Orlando, and Austin. FORECLOSURES AND DELINQUENT LOANS ARE WAY, WAY UP • Loans that are behind on payments by 30 or more days total about 2 million. There were about 200K foreclosures between 2016 to 2018, but only 35K between 2019 to 2021 due to moratoriums. • Mortgage Industry Advisory Corp. (MIAC) puts $1.1 billion in Ginnie Mae loans up for sale, which is a total of only 4,512 loans. Half of these came from only six states.

We’re not going to sugarcoat it: Picking the right mentor is the most important step in your investment career. Advice from someone who has been there, done that in the notes business is invaluable — and if you pick a “real estate guru” who is only claiming to be an expert, you’ll lose money and set yourself up for failure. 5 INGREDIENTS THEY MUST HAVE HOW TO PICK THE RIGHT MENTOR

• Due to eviction and foreclosure moratoriums expiring, foreclosures were up 700% between December 2021 and January 2022.

So, what are the ingredients of a great mentor?

1. An inspiring vision. Does the person you’re considering as a mentor have a vision? If they do, what drives that vision? Really dig into the answers and see if they align with your goals. Your mentor needs to be a visionary who is constantly looking over the next horizon and taking you there. 2. Significant experience. Eddie has bought 50,000 notes . Now that’s experience! When you’re picking a mentor, make sure they’ve already accomplished the goals you have for yourself. If they have, they’ll be able to give you a blueprint. 3. Real competence. This goes along with experience, but it is possible to have one without the other. If your potential mentor has bought 10,000 notes but never made a dime from them, that’s a red flag! You need a mentor with both qualities. 4. A teacher’s heart. There’s a balance between teaching someone and doing the work for them. It’s like the old proverb: “If you give a man a fish, he will be hungry tomorrow. If you teach a man to fish, he will be richer forever.” You need a mentor who will teach you to fish, so that you can one day be a mentor yourself. 5. Fearless repetition. People new to teaching and mentorship are often afraid of saying the same thing twice. They don’t want bored students, so they speed through the lesson! This sounds like a good thing, but it actually leaves people behind. As Eddie puts it, “owning information is simply adding one thin layer of paint at a time. Too many people try to put on 12 coats at once.” Look for a mentor who will guide you step by step toward your goals. Eddie and our NoteSchool team have all of these qualities and more. To start learning from a qualified mentor today, visit NoteSchool.com/Training/Mentoring .

CREDIT AVAILABILITY CONTINUES TIGHTENING • About 30% more potential homebuyers are unable to qualify today compared to before the pandemic — presenting a big opportunity for creative financing. NONPERFORMING LOANS ARE WHERE THE BARGAINS ARE • With home prices high and inventory low, investors are turning to nonperforming notes, which are becoming plentiful. • Today’s nonperforming loans tend to have high equity compared to previous years. If the investor takes possession of the house through foreclosure, the houses tend to sell fast, so you get your money fast.

DIRECTIONS 1. Preheat oven to 350 F and coat a cast-iron skillet with nonstick cooking spray. 2. In the skillet, cook sweet

potatoes, yellow pepper, and broccoli over medium heat until soft. 3. In a medium bowl, whisk together eggs, basil, thyme, salt, and pepper. 4. Pour egg mixture into skillet with vegetables. Don’t stir but instead use a spatula to lift the edges of the egg mixture until it is evenly distributed. 5. Transfer mixture to oven. Bake for 5 minutes or until the dish sets. 6. Top with avocado and tomatoes. Drizzle Sriracha on top (if desired).

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1 Eddie’s Journey From C Student to Teacher 2 5 Business Podcasts to Boost Growth 2 News in a Nutshell 2 Mother’s Day Brunch Rainbow Frittata 3 5 Ingredients of the Perfect Mentor 4 3 Tips for Boosting Productivity Inside this issue

Free Your Team From ‘Meeting Brain Drain’ And Watch Your Sales Soar

Entrepreneur has a few suggestions for how to free your team from this brain drain.

you’re a talker, consider including timestamps with each item to really keep you on task and get your team back to work ASAP. (Not sure how to write a fantastic agenda? Visit HBR.org and search “How to Design an Agenda” for an in-depth article on the topic.) 3. Encourage time blocking. Fewer interruptions to your team’s flow means it’s easier to get back in the zone, so try to cluster meetings during one part or “block” of the day/week. This will help your team build routines around those blocks, and they’ll be able to dive deep during non-meeting blocks without the fear of interruption. Try these strategies today and watch your key performance indicators (KPIs) for lead generation, conversion, and retention closely. You might be surprised at the results!

1. Say goodbye to company- and department-wide meetings. Think of building a meeting the same way you’d think of building a team: Add as many people as you need, and only that many. The more you can whittle down the required attendance for meetings, the less you will impact your employees’ productivity. Entrepreneur suggests keeping meetings at 4–6 people when possible. If you have a daily company huddle, consider making it weekly or even monthly to save brain space. 2. When you meet, always set an agenda. We’ve all attended “30-minute” meetings that stretched to two hours as the speakers rambled. Don’t let this become the norm! Instead, set an agenda for every meeting — even a routine check-in — and stick to it. If

Here’s a shocking statistic for you: According to a Productivity Trends Report from ReclaimAI, the average professional is spending almost 309% more time in one-on-one meetings right now than they did before the pandemic. That’s crazy! Worse, it’s a waste of valuable time and a drain on your team’s productivity. Meetings can be productive, but there’s a reason why the phrase “This should have been an email” exists. If you pull your best people into Zoom call after Zoom call, they won’t have the focus they need to work quickly and perform at their best. That has implications across every department from marketing and sales to billing.

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