Where to market notes? - Posted by Dave

import · September 21, 2005, 1:15pm

Posted by Dave on September 24, 2005 at 15:05:56:

Thanks for the reply.

import · September 21, 2005, 1:15pm

Posted by Dave on September 21, 2005 at 13:15:11:

Hi,

Can somebody suggest a place to market notes. I’m creating small seconds that I want to attempt to sell. Someplace cheap, I don’t really care if I sell them or not, actually, I want to keep them but by law I have to ‘attempt’ to sell.

This is not an advertisment, the email address is fake, you have no way to contact me. My attorney tells me there is some funky california law that requires me to do this.

Thanks,
Dave

import · September 24, 2005, 7:59am

Re: Where to market notes? - Posted by Nate-WI

Posted by Nate-WI on September 24, 2005 at 07:59:53:

Seller seconds are a hard sell. Unless you are willing to sell at a steep discount then keep them for the cashflow. Have you tried using a simultaneous closing where you sell the note at closing thus minimizing your discount since that note is in the first position? It may be a better way to go than trying to sell an unseasoned second lien. Visit the noteworthy website where you can list your note. You’ll get a hundred brokers after you and maybe a few investors. Seconds, depending on variables, go for 35-50 cents on the dollar. I probably will receive some heat for those numbers but that’s what I find. Seconds “usually” have high LTV’s, suspect credit, a big first lien, and little seasoning. Obviously there are exceptions but this is what I find. Hope this helps,

Nate-WI