Notes…A brief overview.
The term “passive income” can be a bit of a misnomer. The reality is that no venture is truly passive. There must be some initial infusion of time, energy, or money. In fact, to choose a good investment, it takes time just to perform the due diligence. However, the beauty of passive income is that it’s possible that the rewards continue long after the initial effort.
For this reason, I’ve always been fascinated by the concept of investing in notes. It’s one of most passive forms of investment, and in essence, investing in notes moves you from being a borrower to now being the bank. And let’s face it, it’s good to be the bank!
What Is a Note?
Essentially, a note (or promissory note as it’s often called) is simply a promise to pay. Anytime you borrow money and create a document that says you will pay someone back, you create a note.
Some examples of common notes are:
• Mortgage Loans
• Personal Loans
• Student Loans
• Credit card contracts
• Business Loans
• Treasury Notes
So then, when you are a note holder, you are essentially acting as a bank or lender. The borrower agrees to pay you back over a certain length of time with a certain interest.
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About Our Chapter Leader……
As a entrepreneur since the age of 12, Desiree Doubrox is currently the Founder/CEO of An Empowered Woman and HomWork. With over 50 years of experience in business and 30 years in real estate, she brings her experience and expertise to supporting women who are starting fixing and building their businesses. Now that’s empowering!
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