Buying Partial Notes - Posted by Tom-NJ

Posted by Tom-NJ on August 03, 2003 at 07:43:42:

Yes, I would be interested. But again, since I’m just starting out, 4-5K would be about how much I’d want to put into it.

Buying Partial Notes - Posted by Tom-NJ

Posted by Tom-NJ on July 31, 2003 at 18:39:01:

I’ve been following this list for a few weeks now and read with interest the posts about buying partial notes. While I would rather be doing Lonnie deals my current situation prevents that. I thought that I might get into the business of buying partial MH notes, but when I looked at the Note I found that they require proof of at least 2 successful deals before they will consider you for membership and allow you to view their list. Sort of a catch-22 situation for me… Does anyone know of a source for relatively small partial MH notes. I want to begin small and see how it works out.
Thanks in advance for any help you can give.

Re: Buying Partial Notes - Posted by Rick (OH)

Posted by Rick (OH) on August 01, 2003 at 07:07:14:

Hi Tom,

I am closing on a $12,800 note in a few weeks (already have purchase agreement from buyers) and would be willing to sell $4000 to $7000 of it depending on your terms. That will give me some cash for my next deal. Email me if you’re interested.

hope we can work together, Rick (OH)

Re: Buying Partial Notes - Posted by Dan - GA

Posted by Dan - GA on July 31, 2003 at 20:49:07:

I’ve just done a Lease with Purchase Option on two Mobile Homes in my MHP. Would you be willing to buy the lease and the option or a note from me secured by the mobile, the lease and the Option?

What rate of return are you looking to get?

Everybody read this - Posted by Karl (Oh)

Posted by Karl (Oh) on August 04, 2003 at 23:40:12:

Rick is a new mobile home investor who’s about to close his first deal. He went into a park right down the road about 1 mile from two parks that I work. I never thought his park was worth farming, because a big dealership owns it. Guess I was wrong. He did a first rate rehab, has it sold on a note, and has the park manager looking forward to his next deal.

Congratulations, Rick! Now start cranking out the deals!

Karl Kleiner