Fred Moskowitz – How to generate monthly passive income with mortgage notes.
My next guest left his job as a software engineer, mainly because he didn’t have control over his income and he was trading his time for a paycheck. He decided to transition to a career where he was able to generate passive income through mortgage notes. In this episode, we talk about how beginner investors can buy notes, what type of monthly income you can expect, and how to reduce risk so you don’t buy junk mortgage products like what occurred in 2008. Please welcome Fred Moskowitz.
Payback Time Podcast
Payback Time is a podcast for investors. The goal of this podcast is to help make investing approachable and easy to understand. We will interview beginner and experienced investors and ask them to share stories on how they got started, what challenges they faced, what mistakes they made, and what strategy works for them today. The overall objective is to provide you with a roadmap that helps you become a better investor.
- (00:47) – Show intro and background history.
- (02:55) – Deeper into his background and business path.
- (05:43) – Understanding his business model.
- (08:43) – Deeper into his expected returns and risk options.
- (11:07) – When is expected to receive the interest.
- (12:18) – How to buy that notes?
- (15:07) – His educational approach.
- (16:40) – How much does he recommend to start investing?
- (18:43) – The red flags to run away from junkie bonds.
- (20:38) – Why beginners should avoid high-risk investments.
- (21:22) – Where he used to buy his notes?
- (23:21) – Deeper into his journey and philosophy as an investor.
- (26:45) – Why invest in mortgage notes?
- (28:47) – The importance of a good network.
- (30:12) – One key takeaway for the listeners.
- (33:49) – The worst advice he ever received.
- (35:38) – The best advice he ever received.
- (37:30) – A bit about his book and guest contacts.
[00:00:01.900] – Intro
Hey, this is Sean Tepper, the host of Payback Time, an approachable and transparent podcast on business investing in finance. I like to bring our guests to hear authentic stories while giving you actionable takeaways you can use today. Let’s go. My next guest left his job as a software engineer mainly because he didn’t have control over his income and he was trading his time for a paycheck. He decided to transition his career where he was able to generate passive income through mortgage notes. In this episode, we talk about how beginner investors can buy notes, what type of monthly income you can expect, and how to reduce risk so you don’t buy junk mortgage products like what occurred in 2008. Please welcome Fred Moskowitz. Fred, welcome to the show.
[00:00:49.600] – Fred
Thank you. Thank you, Sean.
[00:00:51.020] – Sean
Good to have you here. So why don’t you kick us off and tell us about your background?
[00:00:54.910] – Fred
Yeah, my background is it’s been an interesting journey for sure. I started out with having a very long, successful career. I was working as a computer engineer. I spent many years working at different technology and startup companies. But what happened was I had watched my entire industry get turned completely upside down through the bursting of the dot com bubble, and that was immediately followed by the September 11 terrorist attacks. What happened to me is I realized that I was way too dependent on the income for my job as my only source of income. I loved the work I was doing, but my job always had all of these circumstances completely out of my control. And what I learned was that no matter how talented of an engineer I was or how valuable of an employee I was, if things were not going well at the company or in the industry, I could quickly lose my job through no fault of my own. And so I came to this realization that I needed to build other sources of income so that I would not be so dependent on the paycheck for my job. And with that, that led me to alternative investments because what I learned was that through alternative investments, I was going to be acquiring different types of assets that I could own, they could appreciate in value, or I could create value in them and they would generate income for me.
[00:02:37.500] – Fred
And so that is an investment that you own and you get paid while you wait, which was really appealing to me to have that cash flow, that income. And that brought a lot of financial stability into my life, especially while I continued working as an engineer.
[00:02:56.160] – Sean
Right on. Thank you for the background there. And then we’re going to talk about talk about the alternative investments and how our listeners can create some passive income. But first, I’d like to know, when did you start this company you’re actually working in now? What year was that?
[00:03:11.240] – Fred
What year was that? It was in the early 2000s.
[00:03:14.320] – Sean
[00:03:14.600] – Fred
It? Okay. Yeah. So it was right around that same time.
[00:03:18.960] – Sean
So you left IT, got into what you’re doing now and going on 20 years you’ve been doing.
[00:03:26.240] – Fred
This sounds like. Well, yeah, absolutely. I started out with real estate, where many investors in my world started out with building a rental portfolio. Did really well with that. I’m based here in Philadelphia, and it’s a good market for residential rentals. But what happened over time was I started to realize that it’s something that is not easy to scale. You can own rentals, which is a great investment, but it’s difficult to scale up to a certain point. And through the education that I had in being involved in real estate groups and attending workshops and different trainings, I started learning about something called note investing. And what note investing is, is where you can buy a note and when you do that, you step into the shoes of the bank and become the lender. And this is really interesting because what I found is that a lot of people know about investing in real estate. It’s very popular, especially now. People invest in single family houses, in commercial property, maybe vacation rentals. But not too many people talk about investing in the paper, which is buying the notes and mortgages which are associated with these properties with these transactions.
[00:05:04.920] – Fred
I found that it’s a really interesting part of the real estate business. A lot of real estate investors, they don’t pay much attention to it. For most people, when they think of a note in mortgage, they think of being the borrower and not as being the lender. What note investing does is it allows you to step across that aisle and become the bank. So you transition from being the one making the monthly payments to being the one receiving those monthly payments. It’s a great way to bring in predictability and stability and cash flow into any rental portfolio.
[00:05:43.560] – Sean
We’re talking about monthly income, passive income. You’re talking my language now. So these are mortgage notes where you’re acting as the bank, you’re the lender, you’re not the borrower. So let’s dive into this. How does this work?
[00:05:58.230] – Fred
Well, the way this works is, and for most of us have lived through this experience, there is a huge secondary market for buying and selling of mortgage notes. For most of us can relate to this. You go, you buy a property, or maybe you refinance a property. You sign all the documents at closing, the loan documents, the note in mortgage, and then you start making your payments. But what happens is usually after somewhere between one and six months after you closed on that loan, you might get a letter from the bank out of the blue saying, Dear Mr. And Mrs. Homeowner, please be advised that your loan is being sold and here’s the contact information for the new lender, their phone number. Starting next month, please start sending your monthly payments to them. B y the way, don’t worry, the terms of your financing will not change in any way. However, starting next month, please make your payments to the new lender. This story happens all the time. Most of us have experienced this. What it is is that that loan was sold, maybe it was sold into a bond or a security product on Wall Street.
[00:07:21.180] – Fred
And so notes and mortgages are bought and sold every day on the secondary market. And this is something that is not just for institutional investors. Individual investors, small and large, can invest in notes. And that’s what this business is all about. A lot of people don’t know about it. I spent a lot of time writing a book about this to really help spread the word. I find it a fascinating business. When I first learned about it, I saw right away that it’s something that you could scale and grow into something really big. That was very appealing to me. The main points to remember about note investing is that you can buy loans at a discount for less than the amount owed on the note. Also, you’re buying something that’s backed by collateral, so there’s security for your investment. And the third is that you can earn a really nice rate of return on that. And so when I learned about those aspects, I became very interested in note investing.
[00:08:35.000] – Sean
Sure. What returns are we talking about?
[00:08:38.460] – Fred
Yeah, that’s a great question. It all comes down to how much risk tolerance do you have? And there’s no right or wrong answer for everyone. It’s a very individual question. But to give you an idea, if you wanted to buy a super safe note that was on a very desirable property with tons of equity backing it, and the note is in first position, checks every single box of desirability, you might be looking at a return of 4, 5 or 6 %, very common. Now, if you’re willing to take on more risk, this is going to increase into 8, 9, 10, 12 % or maybe even higher. It depends on many characteristics as well as what type of property it is and what type of note it is. So for every investor, there’s something out there that’s going to match your risk tolerance level. And it’s like anything else, when you’re just starting out, I say go with the safer, lower risk investments as you grow, as you have more experience, more expertise, you become more savvy investor. Then you can look at some of the higher return types of notes. Maybe there’s a problem associated with that note that you know how to fix, or it’s something that you can take on higher risk because you’re comfortable with that.
[00:10:08.600] – Fred
And so there’s a place for everyone at the low end, at the high end, or in between.
[00:10:14.160] – Sean
So just to use nice round numbers, let’s say it’s 10 %, that’s 10 % per year, not per month, correct? Yes, correct. Okay. So if you put in 100 grand, we could use that 10 % and say, hey, you’re going to get paid $10,000 per year. But your actual payments hit your bank account. Is it monthly?
[00:10:34.840] – Fred
Yeah, most often it’s monthly. It’s monthly. And what happens is if you think about how mortgage works, each payment is interest plus a portion of principle. And so that loan balance is going down over time. And each month, some of your initial investment capital is coming back to you and the interest as well. Got it. So over the whole life of the note, you will receive all of your investment back plus interest.
[00:11:07.980] – Sean
Plus the interest. Got it. It’s not you don’t wait until the term has been completed to receive your interest. Correct.
[00:11:17.190] – Fred
However, there are notes. Notes can be structured that way. You see that a lot with some of the specialized notes that are originated for real estate investors where they’re doing property renovations and they’ll defer all the payments until the end of the note. But most of those type of notes, they have a 12 month time term. That’s it. So their short term one, first, these guys that do fix and flip properties and they’re doing multiple properties at once where they’re renovating a property and then bringing it back to the market, they’re in and out of those deals relatively quickly. So one year is usually more than enough time for them. But in most cases, on something that’s at a residential mortgage note, yeah, those are going to be over a longer term, and that’s the most common way you see that where each month you’re getting a payment.
[00:12:19.400] – Sean
Right on. And if you want to buy these notes, this is something we would go through you or can somebody do this on their own, going through some online type brokerage?
[00:12:30.050] – Fred
Yeah, absolutely. There’s not a lot of set places to buy notes. A lot of this is done through building relationships. There’s a secondary market. And while most investors are not going to be able to go and buy from the big banks directly, just because they sell in such huge quantities, they will sell pools of loans of thousands and thousands of loans at a shot. And so you can even go on, for instance, like Fannie Mae, Freddy Mac, every month or every quarter they sell loans. And because it’s a government entity, they have to disclose the details of the sale. And so that’s what happens at the top level. But that filters down. Those notes get bought by hedge funds, institutional investors. They’re held for some period of years and then resold again. That trickles down to smaller investors, smaller funds, note funds, and individual investors as well. To find them, yes, there’s some online exchanges you can go, but a lot of it is done through personal relationships. Got it. By meeting other investors. You can go to workshops and conferences on investing in real estate communities as well. That’s where you find a lot of the note investors are.
[00:13:56.740] – Fred
Building those relationships with them, establishing that, that’s what gives you a lot of access. A nother way to get involved is by investing in a note fund. What a note fund is is think of it similar to real estate syndication, where the fund manager raises capital from investors, and then they’ll go out to the secondary market and buying notes. One of the nice advantages there for investors is that investors, maybe they like the asset class of note investing. They feel it’s a strong value add for their portfolio, but they don’t have time to dedicated to being involved in the business to being hands on. And so a note fund is a great vehicle to allow investors to be a passive investor. They’re earning cash flow and a nice return, and they’re able to leverage the expertise, the experience level, the relationships that the fund managers of that fund have. And so that’s a nice benefit there. And so those are some of the different ways to get involved in note investing.
[00:15:08.400] – Sean
And they can go through you.
[00:15:10.480] – Fred
[00:15:11.080] – Sean
Or are you just educating?
[00:15:13.120] – Fred
I’m just educating. No, I’m educating, but there are multiple places out there to get involved. I wrote a great book as an introductory level overview about the business and how it works and how to get involved.
[00:15:32.440] – Sean
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[00:16:36.720] – Sean
Com. Again, Tykr. Com. All right, back to the show. And then is there a recommended dollar amount you suggest to your students out there, somebody reads your book and reaches out and says, Hey, how much should I start with? Are we talking like 10,000, 25,000, 50,000?
[00:16:53.680] – Fred
Yeah, there is all levels. But what I will always caution people is that when you buy a note, you’re tying up your money and so it can become illiquid and you have to be okay with that. So don’t invest money that’s, for instance, your emergency savings account that you have set aside and you might need that. That’s not a good bucket of money to dedicate for note investing. But if you have, for instance, idle capital in your IRA and your retirement account that you’re not going to need for 10, 20 years, that’s different. That’s money that you can put into an investment that’s not immediately liquid. That’s the thing to keep in mind. There are notes of all sizes from small as $5,000 up to a million or more. Some of these Jumbo mortgages, they go over a million dollars and everything in between. But what I always like to talk about is seek out some diversity. If you’re buying notes, let’s say you had $100,000 to invest, and I would say instead of buying one note for $100,000, I like the idea of taking that and buying four notes that have $25,000 balance because it gives you a little more diversification across different assets.
[00:18:21.090] – Fred
Or if you invest in a note fund, for instance, your investment is now spread over hundreds of notes, which is nice as well for diversification. So that’s something to really keep in mind. But like I said, there are all sizes and there’s an entry point for each investor.
[00:18:44.240] – Sean
I’m sure you’ve been asked this question in some way, shape or form. But going back to 2008, housing crash, there are a lot of junk bonds. And I’m sure people could get involved in similar products like this where you can be the lender, but you don’t want to be lending out junk mortgages to people. Is there some safety check or assurance that listeners aren’t going to get involved in some crappy product out there?
[00:19:11.820] – Fred
No, absolutely. And this is very important. Learning how to do due diligence when you’re involved in note investing is very important. There’s a lot of pitfalls for sure. And one of the most important skills as an investor is performing due diligence, learning how to analyze a note, analyze the collateral that’s backing it, looking at the borrower history and the payment history. And so this is all part of that analysis, that due diligence. That’s what we do when we buy notes. We go through this process of evaluating that. Getting educated is super important to learn these skills, develop them, and maybe the first time you work alongside with someone else that’s more experienced that can help share the expertise and teach you how to walk slowly at first before you’re running. But that’s really one of the most important things. It’s like any type of investing. Start with educating yourself first. Get some good books, maybe attend a workshop or a course, training online. There’s so many different ways. And starting out with education is going to really set you up for success. And that goes for any type of investing.
[00:20:39.060] – Sean
So your book would help people put in some guardrails, you could say, just to avoid getting involved with some products that are high risk and you could lose a lot of money and want to make sure we’re getting into more safer investments, especially in real estate.
[00:20:54.200] – Fred
Yes, absolutely. And not that you can’t do well with high risk notes or high risk investments, absolutely you can. But it takes a little more skill, a little more expertise and nuance. And that’s something you learn with time and experience and people can do really well with that. But I would recommend that’s not the place to start with when you’re first learning.
[00:21:22.440] – Sean
And since you’re teaching this, I want to circle back to this question, get a little more clarity. The location where you buy these, like, for instance, I bank with Chase. Can I simply reach out to my bank and ask if they have any for sale, or do I have to go to my brokerage? I use TD Ameritrate, for example. Where do you go?
[00:21:44.420] – Fred
Well, yeah, Chase actually has sold so many loans, so many. However, like I said earlier, they sell in very large transactions, so it’s not for the individual investor. However, if you have a relationship with a local community bank, that’s a whole different story because they certainly will have loans that they sell from time to time. Maybe they need liquidity or they have to get them off their books for one reason or another. But when you’re dealing with a small community bank, you have a relationship with them already. T hat’s a great place to talk to and check. I’m talking about when I say the local community banks, those are the banks that they have maybe one or two or three branches and that’s it. They’re the ones that the bank name is not going to be on the sports arena in your city. However, it will be on the back of kids’ baseball jerseys on the little league team in your town. So it’s a different environment. They’re the ones that invest and lend in the local communities to local businesses. T hat’s a great place to start. Other places as well that I mentioned is through networking, building relationships, attending note investment events and conferences.
[00:23:12.410] – Fred
That’s where you’ll meet other investors and other note funds that will be selling notes from time to time.
[00:23:19.710] – Sean
Right on. Okay. I do want to state that I really like your journey going back in the beginning to what you’re doing now. I will say this, 100 % of the real estate investors that have been on this podcast have shifted away from the days of managing one property or two property or four where they’re fixing toilets and doing repairs. They’ve all got out of that world, which is great because they get into something like this where you don’t have to manage properties, but you can still generate passive income on properties. Now, one thing I really like, well, there’s a few things I like about real estate. Those two things I will say are number one, you can create some passive income within our worlds with Tykr. So you know, we deal with the stock market. You don’t really generate passive income through stocks. You use compound interest, build up your portfolio over time, and then you’ll have a nice chunk of change after five years, 10 years, 20 years, whatever. But you’re not really generating passive income. So real estate is great for that. Number two, real estate is great for taxes. I know you’re not a tax professional, but there are people out there that come into two situations.
[00:24:28.720] – Sean
One is they sell a property or series of properties. They have this large liquidity event. So Uncle Sam wants a piece of that. Or they sell a business. Same thing. Uncle Sam wants his piece of the pie. Can they use this product? Can this be used as a write off real estate?
[00:24:48.240] – Fred
No. Unfortunately, it can’t. No, it can’t. And let’s talk about this a little bit. You’re exactly right. You just touched on the two biggest tax incentives that our government gives all of us in the United States. It’s owning a small business and owning rental real estate. There’s tons of tax benefits there. Let’s talk about note investing. Node investing is an activity that generates tax liability. That’s what happens. You have interest income, you have capital gains that come from buying a note at a discount, and then maybe it gets paid off in full later. Y ou have that taxable income from interest and capital gains. There’s no deductions, none at all like there are with real estate. And so if you do well in Node Investing, you’re going to have tax liability. And so you do need to look at other strategies. But one thing that I always love talking about with any investors that are looking at this asset class is using retirement capital for doing note investing. And here’s the reason why. If you invest, you can invest in notes using an IRA or even better, a Roth IRA. And when you do that, in your account, you buy the note, you own the node and your IRA, your IRA has it, the payments are going in there.
[00:26:19.740] – Fred
All of that income is either tax deferred or in the case of a Roth, tax free. That is powerful. I always encourage people, if you’re in note investing, you’re involved in it, see if you can incorporate some of your retirement account funds into this as well so that you can take advantage of that preferential tax treatment because it’s a really powerful common nation.
[00:26:46.700] – Sean
Right. Thanks for that clarification. Now, understanding you don’t have the tax benefit, I have talked to several of the people in the podcast that have some real estate product that delivers about a 10 %, there’s no guarantee, of course, but about a 10 % return per year. So what would be a motivation to get into mortgage notes over some real estate syndication, for example?
[00:27:09.280] – Fred
It’s really about diversification. Real estate syndication are great if you’re aligned with the right operators. It’s like anything else. You get a good relationship with the people involved in running that investment. It can do really well. Most real estate syndications, and by the way, I’ve invested in many over the years myself. I love that. They don’t pay cash flow. Usually, a lot of times the payments get deferred out into the future or tied to an exit event or liquidity event where the property is sold. And so that’s okay. You have to make sure that that’s in alignment with your time horizon. And so that’s part of what you look at with any investment is when do you get paid? How do returns get paid? When do you get your money back? These are basic questions in considering any investment, whether it’s a syndication or investing in a private equity deal or investing in notes. You want to look at that and make sure it’s in alignment. For instance, note funds. I’ve seen note funds where it’s a three year time period and then your capital gets returned. I’ve seen others where it’s five or seven years.
[00:28:32.520] – Fred
There’s no right or wrong answer. You just want to make sure that it’s in alignment with your needs so that you can see that that capital is going to be coming back around the time that you need it. Sure. And not after. Got it.
[00:28:47.890] – Sean
I do see that as a benefit because most of the other investors I’ve had on the show that are in the world of real estate, I think the frequency it can be quarterly or annually is when they’re paid. Whereas this product mortgage notes, yes, there is the monthly payment, which is an advantage if you do want that monthly cash flow.
[00:29:10.560] – Fred
Yeah, good call. Yeah, it is. And for some people, they may like to have a mixture of both. I’m big into diversification, and so I like to spread out into different asset classes. I love real estate, I love apartment syndications. However, I would not be good at operating an apartment building. But there’s other guys that this is their expertise. They’re good at it. They dedicate all of their time and effort to it, and they do really well with it. I’ll partner up with them by investing in this indication. So that works really well for me. That’s something to consider as an investor is you want to align yourself with the people that have the expertise and the experience. When you do that, you benefit as the investor. Even though you’re a passive investor, you still benefit from that. And that’s part of building powerful relationships.
[00:30:09.460] – Sean
Right on. Yeah. Power of networking, right? Yeah. Before we jump to the rapid fire round, what is one key take away you can give our listeners today? What can they do right now?
[00:30:20.900] – Fred
Yeah, what you can do right now, if note investing is something you’re considering or interested in, start out with education. As I mentioned earlier, there’s a number of great books about the subject that you can learn. You can, for small investment, start with books. And beyond that, look for workshops, events, conferences that are dedicated to the topic of your interest and sign up for them. Sign up for them because you can go, you will learn. And the best part is the networking aspect. When you attend an event or conference, you’re surrounded in a room of experts of people that have experience, and so you can learn from them. You can do deals together. You can benefit from each other’s experience, and that’s very powerful.
[00:31:16.830] – Sean
Right on. Let’s take a quick commercial break. Hey, this is Sean. I’d like to say thank you for taking the time to listen to this podcast. I know there’s a lot of other podcasts you could be listening to, so thanks for taking the time to listen to this one. I have a quick request. If you have a moment, could you please head over to Apple podcasts and leave a five star review? The reason is the more ratings we get and the higher those ratings are, the more Apple will share us with the world. So thanks in advance for doing that. And then I have a quick comment. If there are any questions you want me to ask the guests, please head over to our Tykr Facebook group. You could drop a question right there. I’ll go ahead and make a note and I’ll do my best to ask that question on the podcast. All right, back to the show. All right, well, let’s jump to the rapid fire round. This is the part of the episode where we get to find out who Fred really is. If you can, try to answer each question in 15 seconds or less.
[00:32:10.380] – Fred
You ready? Yeah.
[00:32:11.280] – Sean
All right. What is your favorite podcast?
[00:32:15.260] – Fred
My favorite podcast is Seth Godin’s podcast, Kimbo. He’s a marketing guy and he talks a lot about marketing, but he goes way beyond that. And as someone that came from the technology industry, that’s where he came from as well, is such great value, such great insights that anyone can benefit from.
[00:32:41.260] – Sean
Right on. You are not the only one to recommend that podcast, so good call. Next question, what is a recent book you read and would recommend?
[00:32:52.020] – Fred
A recent book that I would recommend is Atomic Habits by James Clear. Such a powerful book. And this is a book that teaches you how to up level your life in all aspects, in business, personal, your health, your finances, because it gives you strategies that you can start to put into effect immediately.
[00:33:16.420] – Sean
Right on. All right, what is your favorite movie?
[00:33:21.300] – Fred
My favorite movie? This is a tough question. My favorite movie is Caddy Shack, a big Chevy Chase fan from back in the day.
[00:33:35.320] – Sean
You are the first person to suggest Caddy Shet on this podcast. Yes. See, I just learned something new about you. Are you a gol?
[00:33:44.020] – Fred
[00:33:46.500] – Sean
It’s still a great movie, though. Yeah. All right, next question here. We got a few business questions, actually. What is the worst advice you ever received?
[00:33:55.380] – Fred
The worst advice I ever received was this, and this is something that is taught to a lot of people is the growing up with the notion of work hard in school, get good grades, study hard, get a good, safe, secure job, and you’ll do well. I feel that that’s something that is no longer holding up. And that’s an idea that’s no longer holding up in today’s times. And so you have to go beyond that. You have to go beyond that. I love a Jim Rowne quote that he teaches us this idea that formal education will make you a living. However, up, your personal education, personal development will make you wealthy, will teach you wealth. I think that’s so true because that’s where you learn the concepts you didn’t learn in school. And that’s what’s going to teach you to start a business for yourself, to become an entrepreneur, to start a side hustle, or getting involved in investing. And that is the type of activity that will change your life.
[00:35:12.940] – Sean
I am 100 % in agreement with you there, and I could actually start another podcast on this subject, but I really agree on the fact that school does not teach you how to negotiate, doesn’t teach you how to generate revenue, doesn’t tell you. It certainly doesn’t teach you how to create multiple streams of passive income. So it’s failing in all of these categories. It’s quite unfortunate, but I’m going to go on. All right, let’s flip the equation here. What is the best advice you ever received?
[00:35:44.050] – Fred
The best advice I’ve ever received was to get good at building relationships. Learn that as a skill. That’s something else that’s not taught in school. And this is something that doesn’t matter what business you’re in, what career you’re in, the ones that can communicate and connect well and engage others, you’re going to build strong relationships, and that’s going to help you no matter what you do and will serve you well in life is learning to connect at a deeper level and form bonds with people. Because let’s face it, you could lose everything. All the material possessions you have, all the money you have could be all lost, all taken away from you. And what’s left? It’s the relationships that you have. That’s all you have. And with that, you could rebuild and reconstruct all over again. And if you see many successful entrepreneurs, they failed multiple times and came back and rebuilt. And it’s all stemming from their relationships. Right on.
[00:36:56.120] – Sean
Great advice. Okay, last question here is the time machine question. If you could go back in time to give your younger self advice, what age would you visit and what would you say?
[00:37:07.180] – Fred
I would visit age 18, 19. And what would I say is find a way to start your own business, even if it’s something you keep small and do on the side while you’re working, but work on a dedicated time towards that. I think that’s something that everyone should look into doing.
[00:37:29.840] – Sean
Right on. All right. Why don’t you tell us what is the name of your book and then what is the best place people can reach you?
[00:37:36.900] – Fred
Yeah, absolutely. My book is called The Little Green Book of Node Investing. You can find it on Amazon. And and best way to get in touch with me is by visiting my website, which is fredmoscowicz. Com. However, if you prefer an easier spelling, you can visit giftfromf red. Com. And if you sign up and register, I’ll be happy to send out a special report on note investing. And one more thing, if you prefer to work on your mobile device, you can text me as well by texting the keyword money to the phone number 215461 4433 and then following the prompts. I really look forward to connecting with you. I always love hearing from other investors and like minded individuals and really look forward to that. Thank you.
[00:38:36.100] – Sean
Nice. Well, thank you so much for your time, Fred.
[00:38:38.150] – Fred
Thank you, Sean. It was great coming on your program. I appreciate the invitation and it’s been a lot of fun.
[00:38:44.720] – Sean
Thank you. All right, we’ll see you. Hey, I’d like to say thank you for checking out this podcast. I know there’s a lot of other podcasts you could be listening to, so thanks for spending some time with me. Also, if you have a moment, could you please head over to Apple podcast and leave a review? The more reviews we get, the more Apple will share this podcast with the world. So thanks for doing that. And last thing, if you do hear any stocks mentioned on this podcast, please keep in mind this podcast is for entertainment purposes only. Please do not make a buyer sell decision based solely on what you hear. All right, thanks for your time. Talk to you later. See you.