Selling a Note on a mobile home 

[Kyle Inbody]

Does any body have advice on where to sell or advertise a note on a mobile home. I have a mobile home I’m selling on payments. The title is in the homeowner and I hold a lein on the title. I’m thinking I want to sell the note (7,500 @ 3% interest with 24 month left)

I’d sell the note for a discount if I could cash out for about $6,500 or so. I’d like to cash out and put that cash into a small mobile home park I just bought. Any advice on how or where to advertise this note would be appreciated.

[Tracy Z. Rewey]

Hello Kyle,  It sounds like this note is secured by a mobile on a rented lot without any land/real estate involved. The chattel/personal property notes are also transferable but tend to be a local private investor.  The institutional note investors like to buy the mobile with land notes (rather than mobile only notes).  I've bought some mobile only notes as a private investor.  I would be curious on the Sales Price, Down Payment, location, number of payments made to date, and the monthly P&I payment.  I'd also like to know lot rent amount/status and any background information on the buyer/payor (credit, work history, income, etc.)

There are also some of the note listing sites that will take mobile home notes which can open the doors to a pool of private investors.  Your local investor clubs can also be a good option as mentioned by @Rachel H.