Posted by Sheik on February 26, 1999 at 08:19:05:
Thanks for the offer, Bud. But I am a relatively new RE
investor and still need my 9-5 job from which I won’t
be able to take leave from to go to the convention.
I will email you after the convention and perhaps
you could tell me then.
Again, thanks for the offer.
Sheik
100% face value Note Buyers - Posted by sheik
Posted by sheik on February 25, 1999 at 12:07:32:
Would appreciate any info on note buyers who pay 100%
of the face value of 80% LTV notes (properly structured, of
course)
You may email me if you prefer. Thanks much.
Sheik
Re: 100% face value Note Buyers - Posted by Bill
Posted by Bill on February 25, 1999 at 20:36:59:
A very tired, overused phrase in the paper business… we pay 100%!! Misleading at best.
What they really mean is, they will buy your note over time, and the total of all the payments will equal the face value today.
Remember though… they keep the payments on the note in the meantime.
An example is… face is $100,000.
They pay 65,000 today, plus $35,000 in 6 years. Did you get your “100% face value”? What if you don’t receive the $35,000 for 20 years? Is there a difference? Note buyers simply pray upon the ignorance of note holders who don’t know what discount means… or the time value of money…
Nothing magic about this offer…
Re: 100% face value Note Buyers - Posted by Bud Branstetter
Posted by Bud Branstetter on February 25, 1999 at 19:30:26:
Ask me at the convention and I’ll tell you there. I’ll be out of town until then.
Re: 100% face value Note Buyers - Posted by Sheik
Posted by Sheik on February 26, 1999 at 08:11:21:
Hi Bill:
I should have stated it clearer. What I meant was
completely cashed out…not over time. Thanks for the
response.
Sheik