Owner Financing & Note Investing Podcast with Dawn Rickabaugh · Dawn Rickabaugh | Expert Advice for building wealth through Owner Financing & Note Investing

Tracy Z is in the House! Talking Shop and Note Investing - Insider Note Business History Revealed

·37 min·2 clips

"Controlling your time is the highest return that money pays."

1. Owner Financing & Note Investing Podcast with Dawn Rickabaugh centers on Tracy Z and note investing through seller-finance paper. 2. Dawn Rickabaugh hosts the conversation, and Tracy Z from noteinvestor.com brings 30-plus years of note-industry experience. 3. The episode asks how Tracy Z built her career, how partials and wraps work, and how note investors find deals safely. 4. Tracy says she grew up in rural Washington State near Canada and Idaho, then worked for attorneys and a title company. 5. She describes doing title searches, gathering courthouse lists of seller-financed property, and handling closings for seller financing. 6. Tracy says she later went to Spokane in 1988 to work for Metropolitan Mortgage and Securities. 7. She says Metropolitan bought and sold real estate notes and that its founder had been in seller-financed notes since the 1950s. 8. Tracy says she worked at Metropolitan for 10 years and moved from closings to underwriting, marketing, the loan committee, and vice president. 9. She says she could not buy notes while working there because of a conflict of interest. 10. Tracy says she and her husband Fred started their own company in 1997 and launched noteinvestor.com as a website. 11. She says she wanted control of her time and did not want to be a landlord. 12. Tracy says Metropolitan later failed after founder Paul Sandifer died and his son shifted the company toward larger commercial deals. 13. She says the company’s earlier discipline centered on reserves, investor payments, and seller-finance notes. 14. Tracy explains partials as a structure where a buyer receives payments up to a set amount before the note is assigned back. 15. She says partials can maximize interest and minimize exposure, and that one seller has sold her five different partials on the same note. 16. Tracy explains wraps as taking in a higher note rate while paying a lower underlying rate, including bank-loan or seller-finance paper. 17. She warns that wraps need a plan if an underlying lender calls the loan due and says AITDs in California and Texas have state-specific rules. 18. Tracy says notes can create cash flow, spreads, and remainder interests, and she prefers keeping investment-to-value low. 19. Tracy says her best audience is investors who want seller-finance notes and time freedom. 20. Tracy says people who want passive, simple, no-risk returns should skip a deeper note strategy.

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