Eddie Speed: How to Profit in Any Market by Thinking Like the Bank

In this episode of the Profit First for Real Estate Investing podcast, I sit down with Eddie Speed—note investing expert, founder of NoteSchool, and someone who’s been in the game for over 45 years. Eddie breaks down why note investing is one of the most overlooked and profitable strategies in today’s market—and why the next five years could be the biggest opportunity he’s ever seen.

We dive into what it really means to “be the bank,” how note investing compares to flipping and rentals in today’s economy, and why timing the market matters more than chasing the perfect strategy. Eddie also shares how his approach has evolved over decades and how investors today can leverage his systems (and even his back office) to get started faster and with less risk. If you’re looking for a smarter, more predictable way to generate income in real estate, this episode will open your eyes.  

Episode Highlights

[0:00] – Eddie’s 45-year journey in real estate and note investing

[2:13] – What a “note” actually is and how it differs from traditional real estate investing

[3:17] – Why being the bank is less competitive and often more profitable

[4:28] – The risks of “subject-to” deals in today’s market

[6:20] – Why note investing thrives in high interest rate environments

[7:48] – Why we’re currently in a “note cycle” and what that means

[8:11] – The struggles flippers and landlords are facing right now

[10:57] – How Eddie has adapted his strategy across multiple market cycles

[11:52] – Why the next 5 years could be the best ever for note investors

[14:47] – The flexibility of notes vs. other real estate strategies

[17:37] – How beginners can get started—even without money or experience

[18:22] – The “done-for-you” model and how Eddie’s team supports investors

[20:02] – Why starting today is easier than when Eddie began

[25:18] – The importance of market timing vs. perfect execution

[27:17] – Helping both action-takers and over-analyzers succeed

5 Key Takeaways

1. Be the bank, not the landlord. Note investing allows you to earn interest and get paid first—without the headaches of managing property.
2. Market timing matters more than perfection. Doing the right thing at the right time beats doing the perfect thing at the wrong time.
3. Notes thrive when traditional strategies struggle. High interest rates and market uncertainty create ideal conditions for note investors.
4. Flexibility is a major advantage. Note investing allows you to adapt your strategy within the same niche across different market cycles.
5. You don’t have to do it alone. With the right systems and support (like Eddie’s back office), you can shortcut the learning curve and execute faster.

Links & Resources

• Get started with NoteSchool: https://noteschool.com/profitfirst
• Learn more about Profit First for real estate investors: https://www.simplecfo.com

If this episode gave you a new perspective on how to build wealth in real estate—without the stress of traditional strategies—please rate, follow, and review the podcast. And share it with an investor who needs to start thinking like the bank instead of the borrower.