I am currently looking to sell several notes from my owner finance deals, they are performing and would like to know which is the best way to sell them.
I have meet several people in local REIAS and would like to know if there are other venues or ways to find the note buyers. I am NOT looking for note brokers, just for the main buyers.
Your comments will be appreciated
Howdy @Hector Perez ,
Caution ** I am brand new to notes but I had a thought.
Could you use https://www.lendingclub.com/ to get he cash and then use the current monthly payment from the homeowner to pay the lendingclub investor? The site advertises to investors a 4-8% ROI so I am betting that you can make something work that has the correct ROI and LTV numbers that attract investors.
Again *** this is only brainstorming. I have not done this but I am getting into the space.
This is not exactly what you asked so feel free to redirect the forum away from this idea.
Thanks @Eric Benzenhoefer for the heads up, but the property is sold and I am holding the note, I will find out if they sale notes too
Hello BP, any ideas to find note buyers?
The majority of people that I have talked are brokers looking to get the notes at 50% below face value or more, but I would like to see if someone can provide tips to find the ones who will hold the note for long term.
Thanks for all your help
I'm pretty new myself but think I may have the perfect contact for you if you're still in the market.
Good luck but I don't think you will get face value for the note. You should get around 70% of the UPB. Most note buyers don't hold the notes a lifetime.
You could always try LoanMLS or reach out to your local REIA and try to find an SD IRA investor to buy it or arbitrage you out.
How many months seasoning do you have? What is the interest rate of the loan. What is the unpaid balance and what is the value of the property? These are all things that are important when trying to sell your note. There is a Houston specific Note Meetup Group (along with Orlando and Portland for others commenting on this post).
I have some notes myself and investors are weary of notes in general.
I've been a RE investor for a while. I've sold a few houses using owner financing and I just hold the notes until they pay off. Now I am looking to buy performing notes in Texas for myself. No brokering. If you happen to still be looking for a buyer, please shoot me a message.
I am in Albuquerque NM. Willing to buy seasoned note. If you have any note seller in the area, then let me know.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!