Where and how would I go about finding note buyers? I have a home we are finishing rehabbing and with the current market situation and crash of the sub prime market I would like to do and owner finance and then sell the note. Any help would be gratly appreciated.
Thanks , Joe
The market for selling notes is about dead… unless you have a terribly large amount of spread you’d like to give away…
I recently shopped a few notes… to quite few different notebuyers… the large ones… Bayview etc…
The concensus… was they wanted really good credit… and still wanted to stick me with giving them a 24% plus yield…
No thank You, I’ll just keep mine…
Too many bankers involved in that business now and they have no place to upstream them and sell them off… sinc ehte demise of the subprime market…
I work on the marketing side of note brokering company. I’ve been lurking here to learn the real estate side.
The lender we work with has been coming back with bids at about a 20% discount and you’re allowed to carry a second to try and make that up. We also work with fico scores 620 and above. If you want more info let me know, I don’t want to come across to spammy with my first post here.
Brian