Note on the vacant land

[Linda L.]

If you are purchasing the note on the vacant land, what factors will you look into before you purchase?

Very low LTV, since the land is not generating any rental income to cover interest payment?

[Bill Gulley]

Originally posted by Joe Gore:

You will never know if it is a deal or not until you run a title search.

Joe Gore

Joe, not everyone has a private attorney on a salary doing title examinations as you might running hundreds of millions through, but note contracts are done subject to good title, the deal is struck and then you spend the money for the search as well as property inspections if necessary, then you close the deal. :)