Note Buyer Needed
I have never broker a note before. Who do I go to in order to sell the notes. What info do I need to give to the investor? Who does the paper work? Thanks in advance
I have never broker a note before. Who do I go to in order to sell the notes. What info do I need to give to the investor? Who does the paper work? Thanks in advance
What happened exactly with your partners credit. If there are no mortgage lates or bankruptcy, then he probably can get a conventional loan.
If you go hard moeny shop around locally and also on the net. You will see a flux in rates from low 9.9% to high 16%, with upfront pts from 0-8! Just take tome to do your homework on these, and also ask for a closing costs sheet from each , bcause they really hit you hard there on these loans.
email if you need help further I have both types of loans
It all depends on the hard money lender as to what their individual requirements are. But I would plan on doing appraisals, as they need something to determine the value.
Sometimes you can get away without an appraisal but then they may want you to cross-collateralize other property you own.
But if you’re really getting the properties for 50%-55% ARV, then they should stand on their own.
Quote:
On 2007-04-03 14:01, JDSAcquisitions wrote:
My partner had a lot of credit cards go bad.
Is that the new PC way of saying someone did not pay there bills on time?
As for how a hard money loan works here is a link to one in Texas. They explain what you have to do.
http://www.dhlc.net/TheLoanProcess