How Do You Sell And Create A Note?
I have a situation in which I would like to buy a home and create a note for someone to purchase with a great profit attached to it.
Can someone steer me in the direction of how to create a note and how to sell it?
Thanks,
[addsig]
Are you talking about the seller taking back a loan or after you buy then you are creating a note when YOU owner finance the property? This is not clear.
[ Edited by rickpozos on Date 01/31/2004 ]
What I mean is that I create a note or someone who is interested in buying the note, helps me create a note at a fair price. They then come in and buy the note at closing for a discounted amount. That person now holds the note at a discounted price, I get the money to pay my seller, and I get some money out of the deal, plus a way to finance the home.
Does that make more sense?
[addsig]
Basically you are looking to do a simultaneous closing. Is that corerect? If so PM me and I will get in touch with you to discuss your situatioin in more detail.
[ Edited by bpteos on Date 02/01/2004 ]