Posted by Dr. Craig Whisler CA NV on October 25, 2003 at 12:26:31:
:~0
Cash out notes - Posted by Broadway
Posted by Broadway on October 24, 2003 at 15:51:30:
Does anyone know how to sell notes that are created on Lonnie Deals? As an example, buy coach for $1500, sell for $5,000 with $500 down the remainder of $4,500 over 24 months at 12.5% interest with monthly payments of $212. What should you expect to get for this type of note and where do you sell it? Are there standard notes that note buyers look for and will pay a higher price?
Any thoughts are appreciated.
Re: Cash out notes - Posted by Dave Austin
Posted by Dave Austin on October 25, 2003 at 10:09:33:
We buy lonnie deals from people and when we do we typically do a split payment deal. We buy a percentage of the note and get a percentage of each payment.
What we can offer depends on the age of the trailer, credit info that you have, quality of the park among other factors.
The one issue we run into often is that many people do not get security agreements with their deals. It is nice to see a note, a title with lienholder listed and a security agreement signed by the borrower that clearly shows that you can take the mobile back if it is not paid.
Dave Austin
www.mobile-home-notes.com
800-706-6670
Re: Cash out notes - Posted by George-WA
Posted by George-WA on October 24, 2003 at 18:46:38:
I am new here on this board. After reading this post I must say: If these notes were in the state of Washington, I would cash out quite a few if I could get them. I have been in the real estate note buying business for several years now. I am looking to purchase some notes (contracts) on mobile homes located in parks. I would have to be listed on the title as lien holder and possibly file a UCC with the state. Does anyone know about this UCC thing in Washington.
Re: Cash out notes - Posted by Mickey
Posted by Mickey on October 27, 2003 at 23:20:38:
I would also like a copy of this agreement.New to this, so Many thanks…
Re: Cash out notes - Posted by Steve-WA
Posted by Steve-WA on October 25, 2003 at 10:53:58:
Hi Dave - nice to meet you.
Please email me a template, or example, of this security agreement wich you seek.
Better yet, because I’ll bet you’re gonna get a ton of “Me too! Me too!” emails, put it on your website.
Re: Cash out notes - Posted by Angela-WA
Posted by Angela-WA on October 25, 2003 at 12:07:58:
I’m interested in selling notes. Please e-mail me.
can I have your autograph? - Posted by Steve-WA
Posted by Steve-WA on October 24, 2003 at 21:22:24:
Welcome, George Washington!
I’d be interested in talking to you about your note-buying. Perhaps I am selling.
Where in WA are you?