Posted by Anthony Tomasulo on April 22, 1999 at 20:04:33:
Yes you will take a discount. Don’t forget about the “Time Value of Money” Do you want the cash now or in 15 - 20 yrs.?
where do I find a buyer for a note? - Posted by Scott (OR)
Posted by Scott (OR) on April 20, 1999 at 21:51:17:
Hi everyone,
I am new to investing and have enjoyed all of your posts. I am selling my residence. We have an offer. The buyer has asked us to carry a note. We would like to sell the note. Where should we look to contact a buyer? I have a couple of leads, but need to do this ASAP. Can you help? Thanks much,
SAS
sas@adweb.net
Re: where do I find a buyer for a note? - Posted by Anthony Tomasulo
Posted by Anthony Tomasulo on April 22, 1999 at 19:57:49:
Dear Scott,
You can fiind a buyer right here. I work with investors who purchase all varieties of 1sts and 2nds on residential, mobile homes with or without land, commercial, improved and raw land. They even include “Simultaneous closes” at time of closing the note. The best way to reach me is by email: An investor will respond to you within one business day.
Click on CASH FLOW at the top of the page - Posted by John Behle
Posted by John Behle on April 21, 1999 at 16:11:11:
Also, I’d have gotten to this a couple days sooner if you post note, cash flow and seller financing questions on the CASH FLOW newsgroup
Re: where do I find a buyer for a note? - Posted by John Behle
Posted by John Behle on April 21, 1999 at 15:59:28:
For a listing of buyers nationwide and in your state, go to www.notenetwork.com
Two you can try that would be good in your area would be Lorelei Stevens at www.wallstreetbroker.com and Mike Morrongiello at www.americannote.com
Re: where do I find a buyer for a note? - Posted by Craig
Posted by Craig on April 21, 1999 at 13:37:26:
Is it a 1st or 2nd position note. How much down payment is the buyer giving? What is the LTV of the note? If a 2nd postion note, what is the LTV of the 1st? What will the interest rate be? If it’s a 2nd postion note you will most definately take a big discount when you sell it, unless it combined with the 1st only total about 80% LTV. Even then the payor will probably need excellent credit. You can email me and tell me about the note and I can suggest someone that may want to buy it. I don’t buy notes in Oregon and won’t make a dime if you decide to sell it to someone I refer you to.
Re: where do I find a buyer for a note? - Posted by Tyler
Posted by Tyler on April 20, 1999 at 23:18:14:
Scott,
you do understand that in order to sell the note, you will have to take a substantial discount…
Just making sure you’re aware of this, it being your own residence.
You’d probably get a better price selling your house at a discount then you would shopping the note to investors looking for a 15% yield or so.
Just my .02
NT
Re: where do I find a buyer for a note? - Posted by Anthony Tomasulo
Posted by Anthony Tomasulo on April 22, 1999 at 20:10:51:
Sorry, I thought my email: address would have been included in the message.
It is : tonyjtom@aol.com
Re: Thanks John! - Posted by Jackie in Dallas
Posted by Jackie in Dallas on April 22, 1999 at 17:54:21:
I posted a note on notenetwork last night and received FIVE calls and/or e-mails with quotes today - amazing!
I had already pretty much made my mind up to sell to another company but a few of the quotes came in higher than any other offers.
Thanks for helping me make even more money on the note sale!