Purchase Private Financing

have you done this....is there a site where you do this kind of investing?

I pay cash for notes and notes can be purchased at the closing. I would need to give you detail information so you can createm a note that I cn purchase at closing. Note min $50,000 LTV 80 percent Property mustbe i liveable condtion. No Rehabs. If a mortgage is on the property, The mortgage can not be more than 65 percent of the value of the note.

Commercil notes purchase up to $3,000,000 in value at this time. LTV varies form 70 percen down to 60 percent pending type of commercl property.

http://keystone-notebuyer.tripod.com

412-734-5384 fax 1-270-633-8080

Nate,

I would be curious to hear your answers to Hazco's questions also.

a little more, let me get this straight, lets say the seller takes back a 2nd mortgage for $65,000 for 10 years @ 6% interest, you would purchase note for say $50,000 for all cash upfront? SULLY.

I have worked on note transactions.

A website that you can find a lot of information on note purchasing is www.noteworthyusa.com

That is the idea. Remember, we purchase notes from the mortgagee not the mortgagor(payor).

In your example if the note was purchased for $50,000 the ROI would be 12.15%.

I can decide that I wanted a return of 22% and pay $34,912.63. I might do this because the note is in second posistion and has a low interest for a second posistion note.

A side note: If I can purchase the note for 34K then get the note payor to pay the loan / note off early, even at a discount, my ROI will sky rocket.

just enter in this end of real estate nstreet? seems like you could potentially make a decent amount of money doing this, that is if you could afford to wait for your return on your investment. SULLY.

Yeah.. some people specialize in notes. Buying, selling, creating.

Nate this is how my family use to buy most of their properties - by purchasing the owners carry or back in the day (vendors lien). Once I remember they had accumulated 450K in property and had only spent out less that 160K. In Alabama that was like owning 2 million in California. They typically offered 60% across the board. With the mind set of if the owner was holding a note for 1000,000 ex. for 30 yrs then why not take 60K NOW and walk away.

They were great at it. They use to run simple straight forward ads like this

We will buy you note for 60% - Cash now or a headache later - YOU DECIDE. They did not budge on the 60% and people were calling everyday.