Need Help Getting Started Locating Notes.
What is the best way place that people have found to locate Notes?
Does anyone have an example of the first time they went through this?
Would be helpful for some one to share an experience or two to see if the frustration I am having is equal. 
Thank you all in advance.
First time I found a note was when I was in a chat room and chatting away and brought up notes and someone messaged me saying he had a note and would like to talk. Word of mouth by networking in any business is the best way IMO...
Good point. You could secure the note with the LLC interest. The investors would need to be pre-screened for some type of credit worthiness. Additionally you could have a third party collect the payments or have the payments directly debited.
I see your point on the credit card loan. It depends on how much you need. You can play with the amount to get the payments even lower.
[ Edited by waterfront on Date 05/31/2005 ]
waterfront,
The point of my previous post was not that you will save money using credit cards, but that it is a much cleaner deal.
You certainly do not want to sell ownership to secure the note. You want to collateralize, not sell ownership. There is only $800K in your LLC and the note is for $1M.
Regards,
Ed
edmeyer<-----
I follow that, and that would be very clean and minimize the total number of moves needed.
My thoughts on that would just be the initial reaction (if any) for an investor to use their credit card. Surely accredited investors would not object (just the newbies).
Selling the note would obviously reduce the overall fund by $200,000. The route would be to not sell the note and utilize the cash as a security for $0 money down deals.
are you talking about ... America? Yep sure sounds that way to me. The money invested seems in order to close the escrow in 60 days or ess would have to generate an awful LOT of interest to make 80 people support your IPO, ...what is worst is that they are caught in the middle of the Market bearing 19.8% on minimum balance statements or more...the best is the interest that they have in the NEW Aquisitions which can defer taxes>?
Why does not the Investor just do a dual close and create the note hae the note sold for the Sellers cash to meet their Obligations?
many HMLs raise there month this way.
Find Investors to loan your money out too and charge an intrest rate that is favorable for the risk you are taking
i am an investor in atlanta looking for a hard money lender or partner who dosent require a lot of up front money . Can you help.
make sure to discuss every deal with your attorney before lending your cash. get all the what if scenarios ( what if the house doesnt sell for 12 months?, what if the borrower doesnt complete the rehab? etc...) in writing to avoid any problems with the borrower[ Edited by vguess99 on Date 07/07/2005 ]
you have to licensed in many states as well.