By Jon Stojan

Copyright laweekly

Behind the name of Dawn Rickabaugh lies a story of transformation, one that took her from the intensive care unit to the heart of an overlooked niche in real estate: seller financing and note investing.

Dawn began her professional life as an ER and ICU nurse, raising four children and trading her time for wages. Yet, she knew she wanted more control over her financial future. “I would go to weekend workshops to learn how to invest,” she recalls, “and at one point, I fell in love with the note business.” That discovery set her on a course that changed not just her career, but also the financial lives of countless others.

What Dawn realized early on was that most property owners, even seasoned ones, had no idea about the power of seller financing or the secondary market for notes. “No one’s talking about owner financing out there,” she says. “Even most attorneys and real estate brokers don’t understand it. And that means people don’t have access to solutions.”

The gap was staggering. Older landlords sat on free-and-clear properties but felt trapped, afraid of capital gains taxes, dependent on monthly income from rentals they no longer wanted to manage, and wanting to leave a great inheritance to their children. Younger buyers, meanwhile, were priced out of the market, frustrated by banks and strict lending standards. Dawn saw how seller financing could bridge both worlds. “We can take older people and give them the income, tax relief, and estate planning they want, while giving younger people a chance at home ownership. That’s what drives me.”

By being involved at the point that terms are being negotiated, she ensures the notes created are worth holding and will sell for top-dollar on the secondary market. She recalls one man who needed cash for medical bills. He had sold with owner financing and carried back a $100,000 note, but made strategic errors in documentation. “I told him, ‘If this had been done properly, I could have paid $75,000 for your note. Instead, I can’t buy it at all.’ He almost started crying. His agent had told him no one could help. That agent cost him $75,000.” Stories like that fuel her mission.

Dawn’s company, Note Queen, blends consulting, education, and investing. She works with tired landlords, real estate agents, and even buyers shut out by banks. Her services range from professional note appraisals to one-on-one coaching, always with an emphasis on doing things legally and ethically. “I aim to help people save thousands of dollars simply by helping them understand the hidden secondary market for mortgage notes,” she explains.

What makes her perspective radical is her own personal practice. Dawn has not asked a bank for a loan in over 25 years. “The seller is always my bank, or I am the bank for people buying from me,” she says. “I hardly ever know what’s going on with bank financing, and it doesn’t matter to me.” By living the strategies she teaches, she demonstrates the viability of an alternative financing ecosystem that operates parallel to Wall Street and institutional lending.

She also underscores how capital gains can devastate sellers who don’t know their options. Dawn explains: “If someone bought a property for $100,000 and it’s now worth $700,000, they could owe $150,000 in taxes if they sell the property for cash. But through an installment sale, they might only pay ‘Uncle Sam’ $25,000. That leaves $125,000 working for them, earning interest.” For many, it’s a revelation that transforms retirement planning and estate strategies.

Though her work is technical, her ethos is deeply human. As a mother of 4 and a former nurse, she approaches clients with empathy, patience, and a desire to empower. “I provide hope to those who may feel lost and at the mercy of forces that seem beyond their control.” She merges caregiving with finance, helping clients mitigate the stress of mismanaged real estate opportunities and myopic financial advice.

Today, Dawn is a respected voice in the industry, with a portfolio of books, training programs, and a strong online presence through Note Queen. Her tagline, “where property meets paper,” sums up her flexible philosophy: cash can turn into real estate, real estate can turn into paper (a note), and a note can be turned back into cash again. Understanding this fluid cycle can provide unparalleled opportunities for solving problems and building wealth.

Her mission is clear: shine a light on seller financing, educate property owners and professionals, and bring solutions that most of the industry ignores. As she puts it, “There’s a whole world that functions without banks. My goal is to illuminate that world and give people the tools to thrive in it.”

For Dawn Rickabaugh, it was about rewriting her life story and helping others rewrite theirs, one property, one note at a time.