Low demand - Posted by John Behle
Posted by John Behle on January 11, 1999 at 14:07:09:
Most buyers are not interested in non-residential or non-income producing collateral. There are some buyers of land notes, but they usually are looking for notes where building is in the plans.
Buyers look at the worst case scenario of owning the collateral if people do not pay. Local buyers might be OK with some land, vacant properties or rehab scenarios, - but most out of state or national buyers are not willing to deal with those types of collateral.
For example, in Utah I will look at almost any form of collateral and have bought land notes, food supply notes, even un-secured notes. I would not do that out of state.