Posted by John Corey on March 14, 2006 at 24:24:58:
You can always sell a note. The issue is what sort of discount would you be looking at.
If you own the borrower and own the note then the buyer of the note would be concerned that there is a possible problem. Hence the offer for the note would be very low. If you are willing to take a very low offer for the note (50 cents on the dollar or less) you would be able to sell the note.
John Corey
Buy my own note at a discount - Posted by Derek
Posted by Derek on March 10, 2006 at 05:04:10:
Greetings,
About a year ago, I bought some raw land on owner contract 20% down with a owner held note for the remainder 20 year amort, 7%, 5 year ballon. I have the money to pay this off. Is there a method to use to buy my own note from the seller at a discount? I do not imagine he would be open to this type of deal if he new it was the buyer asking for the discount. How much of a discount is standard on raw land notes?
Thanks in advance for any reponses. I love this board
Re: Buy my own note at a discount - Posted by John Corey
Posted by John Corey on March 11, 2006 at 02:05:42:
Derek,
The note holder might be interested in offering you a discount.
Look at it this way. You have the cash but know that you can invest it in other opportunities. Potentially the other opportunities pay a higher return than you would effectively earn if you pay off the debt. Assuming that the debt it not due, logic would say that you would continue to make monthly payments and use the cash some where else. That is how you should present the situation to the note owner.
Now, the owner of the note might have reasons that the cash now is worth more than receiving the cash over time. Just the opposite could also be true. Hence you will not know until you ask. Just asking will put the message in the mind of the note holder that the cash is sitting there. Then if something changes in the future the note holder may approach you with a discount if you can pay them off.
John Corey
Re: Buy my own note at a discount - Posted by Mel
Posted by Mel on March 13, 2006 at 14:20:07:
If I owned a piece of property and sold it to my LLC is there a way a can sell the note
Thanks,
Mel
Re: Buy my own note at a discount - Posted by Rose
Posted by Rose on March 29, 2006 at 16:32:26:
Hi Mel,
Serecin & Assoociates are in the business of purchasing land contracts, deeds of trust and mortgages,and
other cash flows. Mel, in order for us to be of help we would need to know the details of the note that you have.If you have any more questions Please Feel Free to call our office or email us.
You may visit : our site at: http://www.cashinyournote.com for a Free For No Obligation Quote
Sincerely,
Rose & Steve Serecin
Serecin & Associates
Fax : 801-650-3735 or 514~372~0432 24Hr
Phone: 519 738 9259 or 877~212~4325
http://www.cashinyournote.com
Re: Buy my own note at a discount - Posted by Andrew McMorris
Posted by Andrew McMorris on March 17, 2006 at 14:51:54:
Hi, Mel I may be able to help you with the sell of your note. Feel free to email me or call me at 919-376-0738
Thanks