All Forum Posts by: Candace Noel

@Wayne Brooks thanks Wayne. I have no idea what note buyers are looking for as far as criterion. I'm surprised to see that they expect a 10 to 20% returns. Is that interest rates or the whole amount repaid vs what they got on discount? So essentially, is 5.25% too low of an interest rate in general? Are NBs looking for double digit interest rates? Does the difference of the loan's face value and the discount amount they pay not factor in (i.e. loan amt $170k they pay $136k and they get $34k in additional profit once the loan is repaid in full?)

@Abel Teklu I wanted to get a traditional loan but since it's 4 different properties they cannot be bundled, thus, making it a commercial loan. (Not a route I want to take at the moment.)

@Abel Teklu Hi Abel, I was hoping that once he received the funds from selling the note he would pay off the first lien. Also, I'm willing to pay a slightly higher sales price or interest rate if the numbers still work in order to make the note marketable/appealing.

@Odie Ayaga Hi Odie, initially the owner was open to the idea until he gave it more thought and informed me that each of the 4 properties had about $30k of debt on them. Thank you for the FNAC lead! I want to take action on these properties and need a way to structure this deal so everyone wins. 😊

@Sammy G. Hi Sammy, what does RMLO stand for? My apologies, I'm green on that term.

Hi everyone! I'm looking to potentially buy 4 properties (owned by one investor). He's selling them for $170k and says he has a loan of approximately $100k on them. All of the properties are turnkey (recently renovated) and have tenants with property management in place. I offered 20% down and a rate of 5.25% over 30 years. He wants the cash so that he can pay off the loan(s). 

Side note: The owner will have 6 more properties that he needs to sell. 

My questions are:

1. How do I find note buyers? Is there a database?
2. How do I setup an attractive note that note buyers would actually want to purchase? 
3. Will note buyers require a significant discount to buy a performing note?
4. How long does it need to be seasoned before the note can be sold?

Thanks for any help/tips that you may be able to provide.

@Jeffrey H., simple..... SCALABILITY. You can buy more and do more when you have a team.  

Hi everyone! I'm looking to possibly partner up with someone or a group. At this moment, I've been focusing on the Baltimore, MD market; however, I am open to other markets if the numbers make sense. I don't mind being the boots on the ground and/or also contributing capital. I'm eager to get the ball rolling! I've read enough posts where others say that they wished they had formed a partnership earlier in their investing career because they would have gotten out of the "rat race" sooner. 

At this moment, I'm looking at purchasing my first buy & hold in Baltimore. It does not need any work other than replacing carpet and it is being sold for $30k. I'm also entertaining a seller finance deal. 

To be clear, I am looking for a partnership for B&H's. I'm not 100 percent interested in fix and flips at this time. 

@Ned Carey, thank you!! That is exactly the information I was looking for! And, OF COURSE, the property I'm interested in has a HIGHER address number (1700 block)! It is closer to Clifton Park. :-( My plan is to go and take a look at the neighborhood and the property tomorrow when my brother is available since he will more than likely be the one doing any work to the property.

@Samir Goel, absolutely! Let's chat! :-)  I'll inbox you.