John what do you say when…? - Posted by Don ( Miami )
Posted by Don ( Miami ) on January 28, 1999 at 20:53:41:
John what would you have said in this situation?
i was talking to a guy at work the other day and he indicated that he invested in notes on a hard money basis. I casualy mentioned to him that if he ever wanted to get cash for any of his mortgages. to let me know and i could help him.
He didnt seem too motivated but he asked me how i would do that and what would i give him for his mortgages. i told him to bring me a note and i would give him a offer. but i wouldnt give an offer unless i had the copy of the original note.
he then asked me what is the advanted to him to sell the note. thats where i was stumped because i didnt know how to answer that with out going into the time value of money and i believe that i would lose him if i had.
what would you have done or said in this case,if you were me, and what could i tell people that ask if i had ever brokered a note.
any response form you or anyone of the experts in here wuld be appreciated.