Discounted paper, notes, mortgages, debt instruments, income streams, cash flows, cashflows or cash-flows -- no matter what you call it, it adds up to one of the most profitable enterprises in the world. Those who broker and/or invest in "paper" buy and sell payments from real estate mortgages, trust deeds, contracts for deed, lottery winnings, structured settlements, annuities, tax lien certificates, royalties, leases, insurance benefits, retirement accounts, consumer products, credit cards, contractor's liens, home improvement paper...there are investors ready to buy the paper from virtually ANY transaction in which there is a promise to pay over time. The Paper Source offers proven, real-world guidance to note (cash flow) brokers and investors FROM PEOPLE WHO MAKE THEIR LIVING AT IT.

Don't You Need To Be Certified (C.M.I., C.N.B.*)?

* C.M.I. = "Certified Mortgage Investor" C.N.B. = "Certified Note Broker"

by W.J. Mencarow, Jr., president of The Paper Source, Inc.

No.

There is no "certification" recognized by the note industry.

A few seminar companies have made up their own as marketing gimmicks to sell their overpriced courses (a tip-off is when the seminar company and the "certification agency" have the same address!). But use of those letters marks you as a newbie or worse, a wannabe. In fact, some investment firms won't even talk to you if they see letters like this after your name. Their experience has been that dealing with graduates of these seminars means they spend a lot of time answering the basic questions and holding hands on deals that rarely go anywhere except down the tubes.

Yes, some graduates of these seminars become successful note brokers. Approximately 1 in 500. And they probably would have been successful without the seminar; they have some relevant experience and are the rare ones who are driven to succeed and never give up. One is tempted to say they are successful IN SPITE OF the seminar!

So if you got lured into one of these seminars -- which isn't your fault, they play on people's dreams -- the best thing you can do is to hide the fact. Drop the letters. At most it says, "I once had $7,000!"

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