New to Notes - need advice

[Michael Vallee]

Can I create a note against my own property and sell that somewhere? I'm trying to convert some equity to liquidity. How would I set this up and where is there a marketplace for this paper? For someone who has cash - could be a great deal and very secure against a low leveraged property. Best, Michael Vallee

[Bill Gulley]

Originally posted by @Michael Vallee:

Can I create a note against my own property and sell that somewhere? I'm trying to convert some equity to liquidity.

How would I set this up and where is there a marketplace for this paper? For someone who has cash - could be a great deal and very secure against a low leveraged property.

Best,

Michael Vallee

 No you may not, this falls under self dealing, invalid contract, as you can't create a debt as an asset to yourself, use that or market that you're looking at fraud, racketeering issues, take a mortgage deduction you're looking at tax fraud. 

I know, this was also some guru idea long ago, not just a really bad idea but is illegal when accounting plays on financial statements .

You need a second party as a lender:)