Posted by David Alexander on November 10, 2000 at 11:46:20:
You’ll have a hard time selling moving this note to an institution because of the Low balance of the note, 11k face I beleive your saying. Also the face rate at 7.5% will require a serious discount to get any private investor interested.
First place to start is contacting the Noteholder and seeing if they are interested in selling. Otherwise it’s a mute point anyway. You don’t need to know how much you can get for it at first, you only need to know what the absolute best price is you can buy the note for, then tie it up to buy and market it.
Most folks out there take the opposite approach, they shop a note they dont have tied up and then find out the seller is shopping the note around everywhere and the Note industry is very small among the players and institutions. They realize it’s not tied up and dont take you seriously.