MH Notes.... - Posted by Robert

Posted by Kristine Poe on June 04, 2000 at 11:37:58:

Robert–I had many similar questions that were answered in the posts below: “Selling my notes–how does it work?” I have talked with individual note buyers who don’t care about interest. But none of them will cash you out all the way. I have checked out the note buying firms advertised on the home page of CREonline and it appears to me that interest makes a difference to them. Also, looks they will pay a much better rate for seasoned notes. I don’t have any experience with selling a note yet, so my two cents is just my own research.

Good luck–Kristine

MH Notes… - Posted by Robert

Posted by Robert on June 04, 2000 at 10:24:31:

First of all, thanx to everybody that takes the time to answer the questions in this group…My question is…What can I do when I create a MH note to make it easier to sell?..Does the interest rate matter much to an investor on these small deals?..Does the term need to be as short as possible (24-30 mo?)…The deal that I’m working on now is a 84’ 2/1 14x66 that I’m getting for $2500 moved and set in an seniors’ park…The buyer can afford $300/mo and doesn’t care about the term really…Its for her mother and the daughter/ step-son have good credit…I was thinking about making the term 24 months @ $300/mo @ 0% with $500 down…That would come out to $7,700 sales price including the down payment…How could I make such a note more attractive to an investor and what would be a good price to quote to them?..Thanks for all replies!