I am an aspiring real estate investor in Southern California and need some help. I have been listening to Bigger Pockets for a few months now and since taking all the advice that I have strategically stumbled upon, I have to say my career is starting to gain momentum. I am currently assisting a private real estate investor who is flipping mobile homes. He finances these homes for the buyers and is selling the notes so he can have cash flow for more deals. If anyone knows of a reliable source for me to offload these notes, please reply and lets talk. The Notes are for a period of 13 years at 9% with payments of $350 per month.
Just FYI we do lend on them but they must come with the land. Not sure if that helps you.
Ours do not come with the land.
Gotcha nice little niche.
@Andrea Barbee , notes on MHs w/o land (a depreciating asset) for such a long period is not particularly appealing. You can get a much better yield secured by an appreciating asset and that's what most experienced note investors are looking for. So I believe you will have a hard time unloading them in traditional note investing circles.
Maybe market to people with SDIRAs. A LOT of people set them up and put money into them and then never do anything with them except pay the fees. If you have a fairly secure investment earning a steady 9% it would be better for them than sitting on cash. Just a thought.
Useful info! Thank you for the response.
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