Explanation

[Brett DeLine]

Hey BiggerPockets Community,

I ran across a sparsely worded ad on my local Craiglist and was hoping someone could break down for me what is being offered by this individual.  I'm not looking to invest as much as educate myself:

-First Mortgage Note /70%LTV/12% ROI
-$41300 balance/12months seasoning with cancelled checks
-Home appraised value $59,000

I think that this individual is looking for someone to hold a note on the property and pay them interest, but can only guess at what everything else means.

Thanks in advance.

Brett