first time invester/looking for mortgages/what are notes - Posted by Paul Shroyer

Posted by Mark-NC on January 23, 2000 at 07:54:19:

Notes or commonly called a “promissory note” are typicaly a document that is used for owner financing a property. That particular Note can be sold to a notebuyer for cash. However they are bought at a discount from the face value of the note. Once the note buyer buys the note the payments are then assigned to the note buyer instead of the original holder of the note. This will cash out the holder of the note and they are no longer a lien holder on the property.

As far as a list of mortgage companys for NC a good Mortgage broker will be your best bet. If you can’t find one e mail me I know of some you can contact.

Good luck.

first time invester/looking for mortgages/what are notes - Posted by Paul Shroyer

Posted by Paul Shroyer on January 22, 2000 at 19:42:54:

HI,I my name is Paul.I’m a very good carpenter.I can build a house from the ground up,but I bought Carleton Sheets coarse for I can build my home improvement company in Smithfield,NC and invest in realestate.I would like a list of mortgage company or lenders in north carolina.Like most people my credit is poor if not very poor.Also I would like some information on notes (what are they, and who would buy them).I see alot of sites about notes.I just like know how they work.

Mark is right on and… - Posted by DanM(OR)

Posted by DanM(OR) on January 24, 2000 at 11:00:49:

I would also suggest that you read every article on this site. There is a wealth of knowledge here for free.

No offense intended, but from the questions you ask it seems evident that you could benefit from more knowledge.

Notes and regular real estate investing can compliment each other greatly. At times they are almost two different fields, as I am sure Mark can attest to. However, they can be very profitable alone or used together.

I would suggest a few things for you:

  • Read every article here
  • Choose a field that you are interested in and that is applicable to your part of the world.
  • Read some more about that particular field
  • Set up a mastermind group of a lawyer, accountant, & good mortgage broker
  • Do a deal.

Best of luck to you in your endeavors.

Dan Matejsek