Posted by FJW on January 29, 1999 at 09:22:13:
his cash needs are. If you could get the specifics of his notes, maybe you could show him a way to improve them, but maybe not. If he has good notes and no need to cash out, why would he? As he said, he invested in notes, not that he “had to” take a note back and would rather have the cash.
FJW
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.
Don
Re: John what do you say when…? - Posted by Ben
Posted by Ben on January 29, 1999 at 17:48:29:
In its most simple terms, you are offering him a lump
sum of cash as opposed to his receiving small monthly payments over a long period of time. In essence, liquidity. Also, he may have to chase down the debtor
every month to get his payment. This would relieve him
of that burden.