Posted by David Butler on June 28, 2003 at 15:42:03:
Hey… good thinking. Two quick points here, then on to the next step!
First… important to understand what that 92% represents, in relation to the property value, the note balance, and the note buyers “investment-to-value”.
Second, there are some basic generic requirements, and you’ll find them already discussed at great length here in the Cash Flow Forum (more on that in a moment). That being said however, also very important to understand that there are thousands of note buyers out there, each with their own varying degrees of the basic parameters. And, those that will purchase unseasoned paper are a relatively small percentage of the overall universe of note buyers.
To gain the generic parameters of writing suitable notes for selling at the closing table (“simultaneous closing”, “table funding”) use those terms as your keywords in the search facility at the top of this Forum, and you are in business!
Some other phrases that will help pull up additional very useful information for you in this regard, would include “creating notes”, “creating notes to sell”, “clauses” and similar.
As to finding buyers… pretty simple process, especially these days. In addition to the ability to run a classifed ad in an inexpensive or even free local paper in your own community, you can utilize America’s Note Network’s very effective Note Listing Service, along with other Internet based services.
Hope that helps, and best wishes for your continued success!
David P. Butler