Creating Notes
Can anyone share how I can create notes for FSBO'S as well as free and clear home owners .
I would like to move into creating notes as well as part of my note business. I just dont have any experience in that area.
I am asking for anyone with experience in creating notes if they can share with me How the establish them.
Regards,
elite
You can send me a private note if you wish to share privately
Anyone
Can willing to share with me how to create notes. I would figure you can work the FSBO market and any whom may have lots of equity on there homes.
Anyone care to share some light on this
Elite
Hello Elite,
Are you trying to purchase the real estate or the income stream? If you are trying to purchase the real estate but don't want to use conventional, cash or hard money to finance the property that is a structure issue and you can approach FSBOs and the like for that. You would be making the payments on the note and own the real estate. If you are trying to purchase the income stream on a note you'd want to find a note that has already been created and attempt to purchase all or a portion of the note payments for a lump sum at a discount. In that case you would not be creating the note. The current note payments would be assigned to you by the note seller and you would not own the real estate only the payments unless the payor of the note defaulted. Your recourse would be to forclose and take the real estate and then you could create the note to sell it to someone else. Either way the math is quite simple and actually kind of fun.