Question about Note investing

[Account Closed]

I'm in the middle of analyzing a potential deal and trying to think of various "exits" I could take if the primary plan wouldn't work out.  The numbers would work for a flip, but renting is probably not a good option, as the cashflow would barely clear $100/m.  Also, the property in question would be worth less than $60,000 after renovations, so I'm not sure if a bank would even refinance it.  

So, let's say I decided I wanted to hold the note instead.  How exactly does one go about finding or targeting the types of individuals (specifically, non-W2 employees) who would be looking to purchase a property with seller financing?  And how do I even know if I'm in a good market for this sort of strategy?

[Logan Hassinger]

@Account Closed

With an ARV if less than 60k and hardly cashflowing property as a rental, then yes it's going to be difficult for you to find an investor looking to purchase this property.

What city is this note located in?

What do the local economics look like?

Any opportunity for a buyer to experience natural appreciation?

Do you have a mortgage servicer in place, since you will most likely be selling to an owner occupied?

What a about a NMLS listed loan originator?

What makes this property desirable?

As you can see, I’m asking questions related to the property that would entice not only a buyer today but a buyer tomorrow and a traditional bank who will want to buy and loan on a property. 

There’s a reason why properties like this go for seller financing. Unfortunately it’s because they aren’t really worth anything.