Posted by gregbrown37 on November 01, 2002 at 17:57:25:
Michael,
My name is greg, I purchase notes from individual investors. In order to answer your question it would depend on several factors like the credit of your buyer, terms of the note (24-36 better for seller),type of property, liens etc…feel free to email me if you want a no obligation quote. I always give 2 offers, and would be glad to show you several ways to increase your portfolio.
selling a note? - Posted by Michael-chicago
Posted by Michael-chicago on November 01, 2002 at 14:37:00:
Hello all
I have a question (hopefully a simple one). I have done a home rehab and have about 70k in equity in the house give or take a little. I have a buyer interested in purchasing the home but they would like me to take out a 2nd in the form of a note and take payments with a balloon. And I am not opposed to doing this but I often hear people and have read thing that talk about selling a note to anther person for a lower amount, and they collect the note interest/balloon over time. How do I do this and where do I find a person/people/groups interested in doing this. What type of payout ratio should I expect IE 50k note for 2 yrs with interest only payments, for the 2 yrs would be worth 15k etc. I am unsure how this should work but I have read about it here many times
Thank You
Michael