Funding a Note - Posted by Daniel Newbie

Posted by Phil Pelletier on March 07, 2003 at 14:56:47:

You could have your money in about three weeks from the signing of the agreement between you and I. I buy those type of notes. Send me the info regarding the pnote maker’s credit, payment, term, ballons (if any), interest rate and what you need to be cashed out. I’ll make you an offer for the paystream on the note.

Phil Pelletier

Funding a Note - Posted by Daniel Newbie

Posted by Daniel Newbie on March 06, 2003 at 20:32:12:

If I had a well seasoned, low LTV, and perfectly salable note today, how long would it take me to sell or borrow against without cultivated private investors?

Thank You for your Responses,
Daniel Newbie

Re: Funding a Note - Posted by Doug Rink

Posted by Doug Rink on March 09, 2003 at 23:11:16:

Daniel- I have sold notes to Sunvest and I recomeend them for $$$ and service. Have known them for a long time. Highly recommended.

Re: Funding a Note can equal days not weeks - Posted by Michael Morrongiello

Posted by Michael Morrongiello on March 08, 2003 at 23:40:01:

It will typically take a Note broker several weeks of processing time to obtain title work, clear title work, obtain an acceptable apprasisal, clear the appraisal, and obtain a final sign off from an Institutional investor that they are going to place the Note with…Then finally you’ll have closing documents forwarded out to you.

If you are capable of packaging, processing, and doing much of your own gathering and assembly of a proper submission file then a Direct funder or any Note investor (like Sunvest) for that matter that controls their own funds should be able to close and fund a file within 3 to 5 business days.

Now, remember we are speaking about a COMPLETE file - ready to fund here.
Remember good deals are not going to stay on the sidelines long. In all of the years I’ve been buying and investing in “paper” I have found that SPEED and the ability to close quickly is FAR more important than squeezing every last dollar out of deal.

To your success,
Michael Morrongiello