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28
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5
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Houston Pitts
  • Investor
  • McKinney, TX
5
Votes |
28
Posts

How do I Wholesale a Mortgage?

Houston Pitts
  • Investor
  • McKinney, TX
Posted

I bought a property in 2004. Later one of the renters wanted to buy it from me.  I sold it to him via owner finance.  Some years back he could no longer pay for the home and was moving away.  I took the house back for a fee.  I then financed it again to a new owner in 2015.  I am moving away and want to sell the note.  It has a balance of $16,421.07 at 12%, maturing on 11-15-2022.  It has been great income but I always wanted to be close to the property so I can check up on it from time to time.  I have never wholesaled or sold a mortgage.

 How do I sign over the documents and insure they follow the contract?

What is the best way to market this mortgage to another investor?  

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