All Forum Posts by: Letisha Carter

Thank you so much for the insight...I had no info to work with for potential sale percentages. I really appreciate your help. This info as general percentages can help me plan for exit before I buy.

Sorry, your right I didn't provide enough detail.

This is just a scenario but I would have purchased this at a discount as a non-performing note then made a re-performing note out of it. CBR is middle credit bureau score. They have reinstated payments for 3 months and wondered what type of offer I could receive from a note buyer.

A split payment is where a note buyer would take a portion of the payment & I get a portion of the payment each month throughout the term. I know in those situations there are usually conditions for collections situations etc.

This is one possible exit strategy but attempting to be thorough and not great at calculating values yet.

actually the pmt would be 303.73 & pv of 17,933.98...if i'm on the right track.

how do I determine further discount? is that based on the buyer & the yield they expect?

I need a little help with building my exit strategy for my business plan & wondered what the "maximum discount" be for this re-performing note example:

Mount Pleasant neighborhood Cleveland, OH
Interest Rate: 10.0%
Interest Type: Fixed
Payment Freq: Monthly
Term: 15
Remaining Term: 12
Balloon: No
Carryback?: Yes
Lien Position: 1st
Loan Balance: $25,415
Property Type: O/O SFR
6 mon old BPO: $29,900
3 mon pmt hist: timely
Pmt: 350.00/mon
3 mon old CBR: 580
Set up with loan servicer not on ACH debit.

Sorry...I fudged just a little on details, just need an idea of what I could expect for a split-payment deal & what would be the terms normally involved. Also, would it make a difference for ACH debit. I intentionally tried to depict possible worse case scenario.

Any advice would be helpful also. Thanks in advance BP.

Makes sense Dale :lol: I'll try it, thanks.

I'm concerned about buying too high because I don't know the market value. The listings I've looked at are all so varied in the pricing.

Yes we are talking about Lonnie Scruggs, Mike. Are you doing 'Lonnie deals' now? This forum has such great info :D

I appreciate the info. Aaron, would you recommend that resource for older mobiles--maybe 15-25 years old?

Nick J, I'm always interested in learning & working with other like minded people. I'll message you.

Is there anyone currently doing 'Lonnie deals' in Arizona?

I could really use some help in determining market values. I've been looking on various MH websites & craigslist and the prices tend to be all over the place.

Any help would be great. Thanks!

Thanks Laura. Do you attend the Charlotte REIA meetings? I was looking at joining.