Investing in notes is a great way to let money work for you without needing to be involved with the technical aspect and day-to-day operations of it.

In this Flashback Friday episode, we have with us real estate entrepreneur, mortgage note investor, tax accountant, and mindset and performance breakthrough coach Lorraine Millington. She goes deep into the nitty gritty of mortgage note investing, the difference between performing and non-performing loans, and even shared a few steps on how you can get started.

As the Founder and CEO of Melanin Homes, Lorraine and her team specialize in passive income strategies through mortgage note investing nationwide. They work directly with investors who are looking for truly positive cash flow assets, highly competitive returns on their investment, and the opportunity to Become the BANK! As President and Owner of Melanin Tax Solutions, Lorraine is an enrolled agent providing tax, bookkeeping, and tax resolution services to individuals and small business owners to help clients resolve any audit inquiries, reduce their tax liability, effectively claim all applicable tax deductions and credits and stay financially organized. As a mindset and performance breakthrough coach, Lorraine helps people get out of their own way by removing the mental blocks and limiting beliefs that are keeping them stuck in what they are doing and preventing them from moving forward to who they should be BEING, to get what they really want for themselves and for their life.

________________________________

Interested in investing in small multifamily? Learn more about The Microfamily Mavericks mentorship program here:

⁠https://www.microfamilymavericks.com/casestudy⁠

Check out our podcast website!

Thesharethewealthshow.com

Want to leave feedback or suggestions on our show?

Take our survey: https://s.surveyplanet.com/c1xu5qdv

________________________________

[1:00 - 13:59] Who is Lorraine Millington?

She has always been around real estate and her family is within traditional real estate as well for a long time

She found an effective way to get engaged with real estate without having to deal with its day-to-day operations

Her turning point into turning to mortgage note investing is finding leverage in taking advantage of the opportunity and the fact that debt is not always bad

She worked with legal for a long time dealing with contracts and papers associated with mortgage note investing and tax professional

[14:00 - 20:28] What You Need To Know bout Mortgage Note Investing

Lorraine explained that mortgage note investing is buying the debt associated with the property instead of buying the actual property

It is a great way of letting money work for you and having passive Income with minimal involvement

She shared two ways of mortgage note investing

With mortgage note investing, you have freedom and control over the transaction that is kept in progress while also giving you the chance to profit.

[19:47 - 22:43] How to Get Started with Mortgage Note Investing

Lorraine suggested five checklists on how to get started;

[22:44 - 28:04] Performing Notes Versus Non-Performing NoteS

[28:05 - 28:49] Closing Segment

Watch out for part 2 of our conversation with Lorraine!

Key Quotes

“When someone goes to purchase or takes out a loan or a mortgage to purchase a property, they're not calling the bank and saying, hey, I have a leak in my roof. No, you're taking care of that yourself because you own that property.” - Lorraine Millington

“If you're listening and you have a little bit of capital to deploy, and you're really interested in something like this, really start educating yourself and aligning yourself with people who are already in this line or in this in this industry and kind of...