Question about selling note

[Mark Jay]

We sold a property owner finance. We took raw land, added utilities and an older fixer upper mobile home. Nothing fancy, but livable. Sold for 80k owner finance at 10% interest over 25 years. Got 4500 down. Do people buy notes like this or does it need to be a really nice home for someone to want to buy the note? How much do people generally pay when they buy the note? We arent interested in selling the note currently but thinking about it for a future investment. It would be another fixer upper for sale. 

[Doug Smith]

There's actually a huge market for it, but it's priced a lot like a bond. If you look for a bond calculator on line and discount the remaining cash flow stream using the buyer's desired yield, you can come up with the "strike price", or the price you should be selling it for. Having a 10% note rate is solid. You might need to hold it for a few months to establish an on-time payment stream, but there's definitely a strong market for it. Just be careful you're selling the note to reputable sources. Lots of pretenders out there. Good luck to you, Mark.