Will this work...Brokering Notes - Posted by Emerson N. Duhart

import · October 13, 1999, 1:35pm

Posted by Cheryl on October 13, 1999 at 20:47:43:

Emerson~
Let me know how this works out for you. I’ve thought about doing the same thing.

import · October 13, 1999, 1:35pm

Will this work…Brokering Notes - Posted by Emerson N. Duhart

Posted by Emerson N. Duhart on October 13, 1999 at 13:35:10:

Im not a homeowner, but I was trying to figure out a way where I can make money with creating/brokering notes.

I was thinking…

I find a deal…Go into contract (with an assignment)…Find a new buyer that will purchase from me (simultaneously)…Create a note for this buyer that I can sell discounted to an investor at the closing…Then use the funds to payoff the seller that I contracted with.

Thanks,
Emerson

import · October 13, 1999, 10:29pm

Re: Will this work…Brokering Notes - Posted by Mark-NC

Posted by Mark-NC on October 13, 1999 at 22:29:23:

Emerson,
This is very common in the note industry. I do several of these transactions a year. One little key to make it easier is line up a several buyers before you ever put a contract on a home. It will go much smoother. I have found that the homes are a dime a dozen but to find the good qualified buyers is harder.

Also for your information alot of people think that note business can put bad credit people in homes. This is a big misconception.It can be done but the discounts are so steep and the LTV’s are so low that its hard to make any money.The type of buyers that make it easy are the fair to decent credit buyers Like B and C credit that are having a little trouble with traditional lending or have responded to your owner finaced ad and may not even realize they could get traditional lending.

Let me know if I can help.

Mark