Need advice on how to approach note holder - Posted by dutch

Real Estate Investing
1

Posted by Michael Morrongiello on March 29, 2006 at 23:01:36:

Dutch:
Try both a letter and a phone call… whatever can get you to have a dialogue with the 2nd lien Note holder and find out what they are thinking is what you are after.

Best to your success,

Michael Morrongiello

2

Need advice on how to approach note holder - Posted by dutch

Posted by dutch on March 29, 2006 at 14:23:11:

Commercial building, 1st is in foreclosure, small (35K) 2nd held by seller.

How would one approach the holder of the 2nd to buy it at a discount? Letter, phone call ? Simple straight offer to purchase, or negotiate?

Advice would be helpful. I’ve not played the note game.

Thanks

Dutch