Posted by L.Alexander on June 22, 2000 at 07:57:15:
Hi, there
You may not find to many buyers willing to do deals with you,because 90% LTV is very high.My comments
are not to sound negative ,its the truth.The name of the game is discount paper (notes).This is what
a notebuyer may give you on your LTV
Owner occupied single family:LTV 75%
Rented occupied single family:LTV 70%
Muti-family residential:LTV 60%
Commercial:LTV 60%
Land:LTV 60%
The yield will depend on the notebuyer( they will not be the same)
I hope this will help you.
P.S. If you have good notes that are $20,000 and up.I may be able to help you out.I will need to know a little information about the notes.
You may call me at (704) 398-9298 or e-mail me at LL9000@webtv.net
I hope to hear from you soon
I have had trouble getting information on the parameters of what is needed to structure a note from some of the advertised note buyers on this site.
Are there any reliable sources out there for notes?
Does anyone buy notes 90% LTV, A/B/C/D credit and is reliable?
What kind of yield are you looking for? And for how much of a discount?
If I have that, I have gobs of business to do with you!!!
Before I get into this heavily, I need to have someone reliable that I know I can count on. I am not trying to sound bitter, but yes I have used the word “RELIABLE” three times.
I have had too many bad experiences where I am told one thing, and another thing happens much to my detriment and dismay.
RWB(GA):
Note purchases are underwritten in some ways very similar to “sub prime” loan originations. The buyers cash down payment, credit profile, credit scores, employment, stability, and whether or not there is any payment history or none on the note are ALL taken into account when “Structuring” a note deal and its terms in order to Minimize the Discount of the note and to Maximize the amount of CASH value today that note will bring. The Size of the note balance is also important as well.
On residential properties that are owner occupied along with Stronger credit payors (FICO’s in the 650 +/- range)there are programs that we would offer that allow us to fund the purchase of a 90% LTV note with minimal discount. (typically in the 5% -7% discount range off the actual note balance).
Obviously with lesser credit payors who have more severe credit blemishes, these types of note purchase transactions are more “Equity driven” and as such would require a reduced funding exposure into the property.
If you have FLEXIBLE parties (both buyer and seller), it is VERY feasible to structure note deals all day long that are WIN-WIN for everyone where the goals above (mininum discount & maximum cash out) are achieved. If I can assist feel free to contact me.