BiggerPockets

Hello
Seeking more note buyers who purchase new note at a simultaneous close. Are note are first position. We put the properties under contract to buy and then flip offering owner finance to our end buyers. We need more note buyers to add to our list who will purchase our notes at the same closing we close our deal with the original seller. Must be able to close in two weeks.

We require the following from the buyer:
Down payment: 10% +
Credit Score: 600 +
Note term: 30 years with a 7 year balloon
Must have steady employment for two year plus.
Prior year W-2

The following will be submitted to receive a timely note purchase quote.
Mortgage note worksheet
Buyers Credit reports with all three scores,
1003 Application
Property appraisal
Copy of the owner finance agreement.
Copy of buyers W-2
.

Contact me with your primary email and phone #.

Thank you
Lorena

Hello DonQual
This notes are non performing notes. I sell my notes at a simultaneous closing.

Lorena

Marc
My note buyer I have been using for the past 6 months refers to my notes as non performing because they are new. Maybe she has her own terminology.

Who do you sell your notes to at a simultaneous closing?

Lorena

Lacore and Lorena, I would like to hear about one real life simo deal that you have closed. I have been in the note business since 1999 and have never done a simo but, would like to work with folks that can actually get them done if you are actualy closing any of these.

Lorena,

My firm has sold and broker a lot of notes and this method has never worked. If the seller even gets word of this they will kill the deal. All of the 50 banks we deal with will not go for simultaneous closing. I'm not say you cant do it but it would be very hard at best.