How likely is it to make $100k after the second year?
Brokering real estate notes is ok. There are a few things you should know about brokering notes. You have to have a method of findings those that want to sell the notes and then those that want to purchase the notes.
Your job is to convince the seller to discount the note as much as you can. Then you have to have an investor or investors that want to purchase the notes for what you would like to sell them for.
The way you earn money on brokering notes is that if you can get the seller to sell the note for 75% of the face value or the the remaining value,then you turn around and sell this same note for 70% of the face value to the investor. Thus in this example your compensation would be the 5% difference.
You will only find sellers of notes if you diligently advertise for them, mostly by direct mail. You would have to go to the local county court find seller owned notes. Once you have found several you would then mail them a letter, card or some method offering to purchase these owner carried mortgage notes to you at a discount.
As to the amount that you make really depend on how well your marketing plan is and the response you derive from it. Also will you have sufficient investors to purchase these notes you would or might have available to sell.
You might be stretching it to earn $100,000 in yours second year as it take awhile to amass enough investors to purchase these potential notes. Investors would have to have trust and faith in your abilities as well as you as an individual. They would want to know you as a person would want to know their stock broker.
Normally accumulating enough investors is a word of mouth thing between friends. One investor like your services and would tell their other note buying friends.
Besides the percentage of the being sold you must also satisfy the investors return on his investment. They might only be interested in notes that have an interest rate of 10% with a call date of 3 years. Then there would be those that would want the same interest rate with the note due in 5 years.
You would better be equipped to understand notes and those that might want to purchase or sell them by purchasing several books on Notes and "The Buying of Notes", "The Note Maker" ,"Selling and Buying Notes" there might be others, as there are several authors that are extremely good writers about "Notes"
It would take a good note broker to be in the business about 3-4 years before he is able to earn the amount you would like to earn in your second year. It is possible but not probable.
The most difficult part is finding the investors that would trust you as a rookie note seller, without any known references or others referring you to them.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"