Posted by Sean on May 02, 1999 at 10:52:41:
Interest only notes are the bomb. I can’t conceive of buying a place with any other type. How would you have any cash flow?
What’s interest only note? - Posted by Leon
Posted by Leon on April 30, 1999 at 01:12:19:
On an interest only note is there a ballon payment for the principle at the end of the loan? Thanks
Leon
Interest only note = Good note - Posted by Gator
Posted by Gator on April 30, 1999 at 09:45:29:
Carol adequately explained what they are. I’ll pitch in my opinion. JUMP ON IT. Interest only notes allow you to not pay against the principal thereby reducing your cost early on. For example, you can refinance after you get a rehab done or rented. I love interest only notes. I’ve got a couple from private investors who are willing to charge interest halfway between 1 year CD rates and local bank interest rates. My investor is happy and when I get one I’m just so happy I’m like a hog in grits.
good luck,
Gator
Re: What’s interest only note? - Posted by CarolFL
Posted by CarolFL on April 30, 1999 at 06:55:55:
Interest only = you pay only interest, no principal, and the whole sum would be due at term… it does not amortize.
Hope this helps.
Carol