I Want to buy a truck w/ Paper - Posted by Robert

Real Estate Investing
1

Posted by Terry Vaughan on March 12, 2000 at 13:21:38:

Robert:

Remember, the best “trading” notes are the ones the seller will except!

Usually the “soft” note(s) is/are what you want to find. - (soft = long term & low interest rate)

Good examples:

  1. Mobile home note (seller carry back).
  2. Ten year balloon. (maybe a first or second)
  3. Note against a note you hold that you find out is going to payoff early! (that you paid peanuts for)
  4. A small package of contractor (2nds) he took back for remodel or insulation job.

Etc., ect.

Your imagination is your limitation!

p.s. How about a friend who has some property with “dead equity”, any possibilities?

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I Want to buy a truck w/ Paper - Posted by Robert

Posted by Robert on March 12, 2000 at 05:38:30:

Pleash Help! I am new to this. After listening to Terry Vaughan’s tapes, Paper into Gold, I now look at the would of finance in a different way.

I was fully prepaired to write a check for 20,500.00 to buy a used Chevy Tahoe and now my mind is thinking how I could trade a note for that truck.

My question is does anyone know of a 21,000.00 note out there I could buy for say 10,000.00 that I could trade for this truck? Or, is there even a better way to make this deal more attractive to the truck seller and myself?

Please help fast, I want to buy this truck soon.

Your help in this matter is greatly appreciated.

Robert(LA)

3

Try this… - Posted by Tyler

Posted by Tyler on March 15, 2000 at 23:08:35:

Take about 6k and do two or three lonnie deals. Create notes of about 9-10k each, if your market permits. Then finance your truck totally.

Whalla. You just effectively bought your truck for 6k.

The cashflow from the Lonnies will more than pay for your truck payment, and probably even continue to pay you when the truck is paid off.

But that depends on how fancy your truck is :slight_smile:

Nate

4

Re: I Want to buy a truck w/ Paper - Posted by David Alexander

Posted by David Alexander on March 12, 2000 at 19:00:04:

See the posts below Notes for Leverage.

David Alexander