Financing for Mortgage notes

Financing, Hard Money Lenders, Private Money
1

Are there any lenders who will finance the purchase of mortgage notes? I’m looking for loan terms of 3 to 12 months with no pre-payment penalty.

Thanks for in advance.

Allen

2

How many notes do you have?

3

Here is my situation. I work primarily as a note broker. Sometimes I come across notes that need to be sold before I can find the right buyer. I’m looking for financing to purchase these notes while looking for a buyer.

Eventually I plan to fund these deals myself when I have built up enough cash on hand. For now I’m looking for financing elsewhere. I can structure these deals to provide the financer 15% or more ROI on the money borrowed for just a few months or even weeks once I close with the buyer.

Thanks for the reply,
Allen

4

I have a source of investors who buy these notes regularly. If you would like to work together please let me know. Thanks!

5

Thanks for the offer but I wouldn’t need a buyer until after I made the initial purchase. What I am looking for now are lenders. Here is an example of a deal I recently had to pass on because I couldn’t find a lender fast enough.

Seller had a note with a balance of $30000.
He is willing to sell the note for $10000 if he could close in 5 days or less. I found a buyer who was willing to pay 15000 for the note. I had 5000 fee coming but the buyer wasn’t able to close for 10 days. So the seller pulled out of the deal and went elsewhere. :cry:

I am hoping to find an investor/lender who I can call upon the next time I get a highly motivated seller like this. I would be willing to pay back the borrowed funds plus part of my fee once the deal finalized with the buyer.

6

Hi,
This is a great quesiton, concern of mine. Who lends on mortgage notes/paper?? I called around, and it seemed none of the banks in my town had ever done this, nor knew much about it. This is my first time ever attempting this, but I have a note that I can purchase for with a face value of 49k, purchase price of 40k, and the loan still has 27years left on it at a rate of 12%. So Im thinking this is a good deal…any advice would be great. More important who lends of this stuff??

7

acoopmcp,
I might be interested in lending for such deals, also maybe buying them. Let me know.

Continued success!
Brandon

8

Brandon

I sent you an email. Let me know what you think.

Thanks,
Allen

9

Allen,
I recieved your e-mail, and replied. The terms sounded good to me. If you need additional information from me, let me know.

Looking forward to future business.

Brandon