Posted by Monique on February 20, 2001 at 20:23:30:
If you want to learn more about flipping properties, check out Bill Bronchick’s course called … “Flipping Properties” – you can find it here.
If you’re interested in creating paper and selling it to note buyers, you might want to head on over to the Cash Flow Forum. Lots of discussion on topics like this there.
A few quick thoughts …
- You can flip property without creating a note and selling it to a note buyer.
- Note buyers buy paper at a discount. You would need to factor in this discount (the discount varies greatly based on the terms of the note) to your profit projections.
- To my knowledge, note buying/selling is legal in all states. Some states have licensing requirements to buy notes.
- Note buyers are always looking for paper to buy. Some mortgages are better than others. In general:
- Higher interest is better
- Shorter amortization is better (15 years is better than 30 years, for example)
- Lower Loan-to-Value is beter
- 1st mortgages are better
- Good payor credit is better
- Large payor down payment is better