Updated over 13 years ago on . Most recent reply
Flipper has question about note
I'm new to the note world. I've been flipping for about 2 years and have flipped a few homes. I have a home that I might owner finance and had a few questions about it
Can I take an equity line out n the note for the value of the note not the house? If so who does this a bank or private party?
If I wanted to sell the note where would I go to sell it and how much do they offer for it? (50,60,70%?)
Any info would be great thank u!
Most Popular Reply
Some lenders used to lend against the value of the note itself but I'm not sure that anyone does it anymore in these conditions. As far as selling goes, depending on your financial situation, you don't have to sell the whole note. You could actually sell a partial where someone might buy a couple years worth of payments. You'll generally get a higher price this way while retaining the downstream payments.