Notes gurus! Please help!
I am holding an open house today for my first Seller Finance deal. One potential buyer is very interested. Tells me he is going to use the house for his Adult family home business.
My plan is to sell the note in 6 months.
Question- will my note buyer like this situation? Will it make the note stronger or weaker?
What do you mean exactly by adult family home business?
I would recommend holding the note for a minimum a year. If I'm the borrower is buying in an LLC make sure they have other assets and get a personal guaranty from them.