Posted by Terry Vaughan on June 29, 2007 at 11:51:22:
. . . the Mobile Home forum and the Cash Flow forum for more exposure to people who are doing this type of deal.
Posted by Terry Vaughan on June 29, 2007 at 11:51:22:
. . . the Mobile Home forum and the Cash Flow forum for more exposure to people who are doing this type of deal.
How to create and sell a note??? - Posted by BrettGa
Posted by BrettGa on June 29, 2007 at 11:46:58:
Ok, I have an opportunity to buy a mobile home with one acre of land for 23000 with HWY frontage. The appraisal is around 40 K. I have already spoken to my realtor friend and the deal will go quick. It is a foreclosure. With repairs it could sell for more than 40K. It even has a storage building out back. My question is, how do I create my own personal mortgage and sell it to get the funding that I need for this deal? Hard money lenders have shyed away because it being a manufactured home and the price is so low. Once I have a not created, how do I sell it quickly? I want to sell the property within 3 months and I can easily do that in the area its in. My local newspaper does not have a section entitled “mortgage” or “Notes”. Let me know what you think. Thanks