What are the benefits of owning a note versus owning a property?

Owning a loan usually results in an equal or greater cash flow or passive income with less liability than owning a rental property. We like to say, “Own the paper, not the dirt,” because a note quietly sitting in a safe deposit box can make money for you while you sleep. Compare that to a landlord/renter situation with its incumbent problems, including sudden vacancies, repairs, property taxes, insurance and constant maintenance.