Every post I see here about buying partials on notes only involves the front end whole payments. Are there many brokers here who assign fractional payments? Either front end, whole term, or tails? What I'm specifically looking for is to take a tail end partial split, and a smaller brokering fee.
Specifically, I look for homeowners who have lived in the same house for many years. The rare people who are not in the habit of refinancing every few years, and have built up substantial equity and looking forward to selling, are whom I seek out. I believe that there are many out there who could benefit greatly from using seller finance the *right* way.
I am presently seeking deals in the northern suburban area of Minneapolis.
In today's note environment, it is challenging to find notes in general. To find newly created seller-financed notes where someone is also interested in a partial split to a broker is really going to be difficult. It would restrict the lender from selling the note for top dollar because there is a partial tied to it. Also if it goes non performing then things can get extremely complex.
I think you do not see it as I do not believe a market exists for it.
This involves a highly educated local Realtor that is seeking out additional cash flows, plus his commissions.
I came to him initially to ask him whether or not he personally had any such dealings, and if he would be interested in doing a deal with me.
At present, I am shadowing on a sale with him incorporating this strategy.