Posted by Mark-NC on March 23, 2001 at 07:46:49:
I realize that there are others such as yourself that fund these type of deals. But this company is a major player in the business. The thing they had going for them was high LTV’s available and great buy rates. The reason I brought it up is many brokers use this company. And if they are used to structuring their deal for this company they may get caught with their pants down if they are setting up something to close with them soon.
There certanly are others out there that will do these type of notes but most at only an 80% LTV with a substantial discount even on stronger buyers. That makes it very hard to put together a deal in many cases.
I really do not want to name the company out of curtesy to them. All I am saying is if any one is doing flips using notes make sure they check before you go to close or find alternate sources for your note.