We’re new noteschool students and trying to get organized to create a business, not only a note investment. Has anyone written a business plan they would care to share? How are you doing your accounting? Has anyone set up a quickbooks system they’re happy with?
We’re incorporated as an LLC, have banking and accountant relationships set up.
I do not have a formal business plan. It’s all just in my head right now. My wife Kathy and I are relatively new as well, so it is hard to have a plan when we are not sure of the exits that each asset could take, and all other options avail in note investing.
We have however come up with a model that we will enter the business with. It is to purchase and hold a few performing notes and get them seasoned a couple months. Then we will take the notes with current payment history and offer them to investors as partials.
We have purchased a NPN in an IRA as well to see how that plays out.
We plan to re-evaluate after each experience and see where it takes us.
