Tired Landlord looking to create a Note.
Hey, I've been looking into and reading as much as I can about this form of investing in real estate. So I plan to sell a property with a Morgage & Note (Indiana) but I am trying to plan my Exit accordingly. My goal is to sell For example a 100k Home With 10%-12% Down & a 9.5-10% for 30yrs And exit either by Making a 1st and 2nd mortgage or selling a partial using a note to recoup around 70% of my Equity leaving the 20% on the 2nd for me as long term cashflow. Does anybody see anything wrong with any of these Numbers with how I'm thinking of structure in this note? please scrutinize this for me for whenever I go and try to find a buyer later. And also couldn't I even exit by Borrowing against my Note to get my 70% out that way also? I just Really Need to make a solid exit and Keep some for me to get paid at the same time that the new note buyer will be. Not a fan of waiting for 10yrs for my payments to revert back to me.Thanks, guys. Looks like you guys are a great group as well. You now have a new member. I learned a lot just reading all of you guys' posts over the last 30days or so.