buying and selling notes

[Thomas Manuel]

I am thinking of buying and selling notes, but I only know a little about it at this time, any good advice, suggestions or help out there? please let me hear from you.

[Account Closed]

and maybe get the owner To do a deed in lieu of foreclosure so that I could rehab the property and flip it. What do you think about that?

When you buy notes, you are taking over the terms the notes are on. When the notes become non-performing, you most likely have to go through the foreclosure process to take control of the properties that involve filing for lis pendens, hiring attornies, going through the sheriff sale. The process is not as easy as a deed in lieu foreclosure unless the note contract has deed in lieu foreclosure in them.

So if your interest is on rehabbing and flipping, why not buy distressed properties directly.

Buying and selling notes is like buying and selling houses and anything else you buy and sell. Always think of the end buyer's preference before you spend money on getting the inventory. Do you have end buyers who are interested in buying notes from you? And do you know of their purchase criteria?


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