MH notes - Posted by Dave_in_IN

Posted by William, Columbus, OH on May 22, 2000 at 09:07:46:

Dave: Not trying to discourage you with my response, however, until you know what you’re doing I strongly suggest you consult someone like David Butler of American Note Network (a sponsor of this forum). You can reach him at or by going to their message board and posting the question. He wrote the fantastic book “Tin Can Alley” and can be of great assistance. Until one gets the feel for discounting it can be advantageous to work as a broker with someone like David Butler on M/H paper. There are other national buyers as well that buy this type of portfolio. Best wishes, may you be happy & well.

MH notes - Posted by Dave_in_IN

Posted by Dave_in_IN on May 21, 2000 at 17:01:20:

I have run across a small portfolio on MH notes. A large number of them are late in payment. 2 are over 90 days, 3 over 30 days, and 5 almost 30 days. All the notes are well seasoned. I am wondering how to value the late payments into any offer I may make on the lot. The remaining balance is $140K and the monthly payments are about $5K. Average remaining term is 38 months. The arrearage is about $5K.

I have not purchased any notes before and I am searching for some help.