Long Term Note Help And Then Looking For Someone To Buy It
Here's my situation. I have a couple who want to buy a home. I am currently lease/optioning their current home since they want to find something bigger. I am very interested in creating a mortgage for them, since they have such great pay history and it may be a little tougher to find a lender who will give them a second mortgage, even though we are taking care of payments. So, my next thought was to create a note for the financing and sell that to an investor, and then create a note between them and myself with a little profit built in.
Does that make sense, am I thinking about this right? If so, I am looking for someone to help me structure this. Thanks in advance.
remember notes are sold at a discount.
Yes, that is definitely possible. It's called a simultaneous closing. Selling the home with owner financing, and then selling the note that is created simultaneously to get all cash.
Contact me (look under my profile) and I will help you set one up.
James