Please Help Me Sell My Note
hi-
i just obtained a 237,500 note at 8 percent, amortized over 30 years with a 5 year balloon. i would like to sell. how would i go about doing this, and how can i sell it for 100 percent of its value?
thanks.
Hi,
Call me at 678-313-3305 and I will get you a quote on your note or go to my website at ****Must Reach Senior Investor status before posting URL's*** and on the left hand side of the screen click on sell your note, then select Private Mortgage Note and complete form. Let's make it happen.
Mark
Erics,
Getting 100% for your note may be difficult. They are usually sold at a discount, otherwise there is no incentive for an investor to buy.
I have access to note buyers (about 300) so if you want a quote call me at 1-352-687-8136 or use
**Please See My Profile**
Bill
Erics,
There are many different avenues in getting 100% of the value of your note. I recomend getting in touch with several investors and getting several quotes and pick the one that suits you best. You can contact me at 360-798-0449 and I can help you if you would like with more info.
Go get em..
Is there seasoning on notes before anyone will buy them? Or can they be brand new?
The institutional investors I deal with require no seasoning so as soon as the note is created you can sell or reassign note at closing. It's called "simultaneous close". Notes that are sold without seasoning may exeperience a heavier discount since there isn't a historical payment track record to assess which equates to higher risk. The more seasoning you have the more comfortable a funding source is to give you more for your note.
Hello,
I have leads for various priced RE notes. At the moment I am just waiting to hear back from the sellers to confirm the leads are still fresh...does one charge a finders fee for referring these on,assumng a sale is made? Curious..if so, what type , if any, form/contract/s would I need to ensure my fee is paid?And what type of % could I demand?
Thanks in advance.
noobee 'itis'
*notes range in size several thouand to millions
Quote:
On 2003-09-15 17:53, erics wrote:
hi-
i just obtained a 237,500 note at 8 percent, amortized over 30 years with a 5 year balloon. i would like to sell. how would i go about doing this, and how can i sell it for 100 percent of its value?
thanks.
When buying notes an investor is looking for a return on their investment. 8% is probably not going to be sufficient unless the payor has a 750 beacon, and the LTV is 50% LTV. You can get full value if you sell a partial, however you are still on the hook if something goes wrong. There are note buyers and brokers out there. There is no set discount out ther, because every note will be different.
Good Luck,
Shawn(OH)
There are many variables in determining what you should expect or build into your fee. Things to consider are:
Are you brokering the deal or just referrring it to a funding source or another broker? How large is the note 100k or 600k. Is it one note or a portfolio of notes. I tend to like portfolios of notes since they bring in the most cheese.
There are non-circumvent forms that you can use to protect yourself from being cut out the deal. I typically pay people that refer deals to me anywhere from 10% to 50% of my commission.
I hope that helps.
Mark
Have you sold your note yet? I would like to get more information about your note if it is still available. I am a note investor. You may email me at **Please See My Profile** Thanks.
Brenda