Multi property note for sale at a DEEP DISCOUNT!
Selling my 1st position note of 22, "established with tenants", rental properties which I sold to an experienced RE investor 3 months ago on April 1st (and have received 3 timely payments in full). The buyer gave no personal guarantee as he purchased the properties under his LLC and there is also no balloon over the term of the loan. The details of my note are as follows:
- Sales Price = $900,000
- Down Payment to me = $95,000 (10.5%)
- Loan Term = $805,000 balance financed over 20 years
- Interest Rate = 10%
- Monthly Payment Amount = $7,768.42
The properties are "park model" mobile homes on their own lots so each property is one home and one lot.
I have all of the closing docs (closed with a title company), promissory note, etc. that you may need to evaluate this once in a lifetime deal, just ask and I will get them emailed over to you.
What's more is that I will also give you my personal guarantee on this note. That may sound strange coming from the 1st position note holder but its really not because I set all of these homes up on the lots myself over the last 7 years, everything from transport, to remodels/make readies, to leasing out and I can easily step right back in with my staff and pick up where I left off. I have the infrastructure, marketing, and experience to do so.
The only reason I'm selling this note for such a good deal is because I need the capital to fund my current commercial building project that is underway.
Thank You