Will This Note Sell
Owner will consider a note offer. I just need to know if it can be sold. Would hate to close the deal and find out that the note cannot be sold. Here is the situation:
24 Units, asking 395k, appraised 550k, can put down around 30k - 40k, on my job 1 1/2 years, make about 45k per year, scores are 533 equifax, 522 transunion, 540 experian, property has about 5k available for debt service after taxes, insurance, maint. reserves, etc. Is there a way to structure a note for this deal and how should I approach it? If this will not work explain to me what I am not seeing. Thanks
are you going to try to get financed on your own?
From your credit scores, you might need to get creative...
I plan on offering the owner a note as described in my first post. I'm sure the owner will accept, i just need to make sure that the note will be sellable based on the current situation.