How to determine what price to pay for a performing note
I flip mobile homes in california and florida- we now want to sell a few performing notes we're carrying to generate expansion funds more rapidly. We have a very strong 10 year, 9% note for a principal of $60,000. The full payout over the final 114 payments will be $60,422.40- $504/month plus a balloon payment of $49,643 for a total of $110,065.18(minus $3021.12 already paid). That's slightly over 10% per annum return. We are looking for information about how much to expect to sell that type of note for. There's no liens or clouds of any sort on the title. Would appreciate any hatting we could get!
Joe Bueno