I am selling a Mortgage Note (performing)! Who is buying?

[Luis Pereiro]

Hello BP

I'm looking to connect with investors interested in purchasing a mortgage note (performing). This is for vacant land located in Tampa, Fl. If you are looking to buy or can connect me with others looking to purchase, please contact me. Here are some details on the note i'm looking to sell. 

• - $45k balance (40% of BPO value)
• - 7% rate
• - interest only
• - maturity date 2/1/2026
• - mortgagor (owner) pays 3rd party servicing fees

[Luis Pereiro]

Quote from @Chris Seveney:

Quote from @Luis Pereiro:

Hello BP

I'm looking to connect with investors interested in purchasing a mortgage note (performing). This is for vacant land located in Tampa, Fl. If you are looking to buy or can connect me with others looking to purchase, please contact me. Here are some details on the note i'm looking to sell. 

• - $45k balance (40% of BPO value)
• - 7% rate
• - interest only
• - maturity date 2/1/2026
• - mortgagor (owner) pays 3rd party servicing fees

 what is the value of the property? Just a FYI be prepared for it to sell at a discount,

Jay- I have seen people buying land notes for 12%-15% yield which is CRAZY and they are going to eventually lose their shirt once they go into default and the land value is repriced.

Thank you for the info. I've spoken to a few folks and decided that selling the note is not a good option for me. Would be taking too much of a loss for it to make sense. But was very interesting what I learned. I've done many deals in real estate but Note transactions was not one. Has me curious now to look into it more for the future and maybe becoming a buyer myself. Thanks again