Note buyers
Paper Source Seminars
The Paper Source is a publisher and education business for the private note trade, in operation since 1987. It produces The Paper Source Journal, the Registry of Note Investors, and a set of courses and guides on buying and brokering seller-carryback mortgages, trust deeds, contracts for deed and other cash flows.
The Journal is now offered free, as is the Registry. The Registry lists active private note investors, brokers and the companies that sell products and services into the industry; a basic 12-month listing with contact details and an offer costs $250, and an enhanced listing adds a logo, headlines and up to 500 more words for another $195, with new listings featured at the top of the page for their first month. Education runs from a free seven-lesson e-course through the Paper Source University and a video library, alongside an open Facebook group.
The company has taught note investing since 1987 and describes the Registry as the standard industry reference for 24 years, now in its 25th year of publication. Its editorial position is explicit: it warns readers off expensive boot camps and coaching programmes, and advises never to buy training from a company that also sells notes.
The operation is run by its two founders, and the pages crawled show no staff, servicing arm or fund. Treat it as a source of publications, listings and training rather than as a counterparty, and call 800-542-2270 to confirm current listing terms.
Best for
New and part-time note investors who want low-cost education and a directory of active private note buyers, plus service providers who want a listing in front of that audience. It sells publications, listings and training, not brokerage or servicing.
What they do
- The Paper Source Journal subscription
- Registry of Note Investors listings
- Products and services vendor listings
- Paper Source University courses
- The Ultimate Note Investor's Video Library
- Free seven-lesson note e-course
- Note investor Facebook group
Details
| Attribute | Value |
|---|---|
| Founded | 1987 |
| How they charge | Registry listings cost $250 for 12 months, with an enhanced listing an extra $195. The Journal and the Registry are free to readers. |
What stands out
- Founded in 1987 and has published note-investing material continuously since then.
- Says the Registry of Note Investors has been the industry's standard reference for 24 years, now in its 25th year of publication.
- A basic 12-month Registry listing costs $250; an enhanced listing with logo and 500 extra words adds $195.
- The Paper Source Journal and the Registry of Note Investors are now offered free.
Common questions
- What counts as a note?
- A note is a marketable promise to pay over time. The term covers discounted seller-carryback mortgages, trust deeds and contracts for deed, and also annuities, leases, structured settlements, retirement accounts, royalties, tax lien certificates and receivables. Notes are secured by something that can be foreclosed on or claimed if payments stop.
- Why are notes sold at a discount?
- Because of the risk of owning a note, and because dollars in the future are worth less than dollars today. A note is a promise to pay, not cash, so a financial calculator is used to work out what it is worth at the investor's desired yield.