Vacant Land Notes - Posted by Charlie (Fla)


#1

Posted by Paul (KS) on January 13, 1999 at 09:56:59:

Jay,

I attempted to send you an e-mail at your address listed in the post and it was bounced back to me. I would like to discuss the notes you are creating and learn more about this type of situation.

Please e-mail me at phigbie@yahoo.com.

Thank you in advance.

Sincerely,

Paul.


#2

Vacant Land Notes - Posted by Charlie (Fla)

Posted by Charlie (Fla) on January 10, 1999 at 21:17:31:

Friends,

First and foremost I wish to express that I am not a seasoned note investor. I have located this forum and I am in the early stages of comprehending the foundation of notes.

I am putting out to the floor the discussion of notes on vacant property. The basis of the idea is to secure vacant lots,acreage, mobile home lots, etc… You secure the property for below market value. ( Classic don’t wanter,
divorce). The purchase is all cash to seller. You secure a buyer for 10% down, finance the balance with a 20 year
amortization, three year balloon at an 9-10 % interest rate.

I have seen some for sale signs in my immediate area for vacant property for $100.00 down - $100.00 per month. I never really paid attention to them until I started reviewing this forum.

It seems that securing vacant property would have considerable benefits to create notes. The property would require a contract for deed or similiar instrument to speed the foreclosure process if default occurs.

I would appreciate conversation from the seasoned veteran’s
on this site regarding this topic.

Sincerely,

Charlie


#3

See other post - Posted by John Behle

Posted by John Behle on January 11, 1999 at 14:08:52:

Charlie, see my post and the others related to your question about creating notes. If you want to add more details, I might be able to direct you to some possible buyers. It depends on more specific details about the properties.


#4

Re: Vacant Land Notes - Posted by JAY

Posted by JAY on January 11, 1999 at 13:59:54:

I do a significant number of these deals each year.
They can make you a lot of money. However, it is very hard to sell these notes to investors unless you can afford to get killed on the discount. I sell for littel down and hold the note until maturity. Most of my buyers(of the land) want to build soon so the construction loan they get pays me off early. If you have some money for investment pourpose you can easily make 30 to 50 percent on your money. It works out great for me.


#5

Re: Vacant Land Notes - Posted by JAY

Posted by JAY on January 13, 1999 at 17:03:03:

Sorry, I put in the wrong e-mail address. parkfund@yahoo.com will work