REITs and where to find the good ones

[Angela Carter]

I am working with a broker who says he can find a buyer for my note using his "go to" REIT firm. I am not keen on using middlemen for something I can do myself.

I want to know where I can find a particularily low key or small REIT firm that has the investors in line (moms and pops) who are interested in buying notes secured by real estate.

This is the way the broker works. He finds RE investors who want to sell their property via owner financing, then finds the potential owner who wants to have a house with a seller carried mortgage. He then gives the RE investo'rs information along with the potential borrowers information to the REIT firm who then shows these potential notes and their ROI percentages to its moms and pops who want to invest their money securely as opposed to IRA's and 401k's.

Now, here's my situation. My fiancé is going to sell me an REO through a double close via transactional funding and is going to make the B-C sale in the form of owner financing. The note buyer is then going to purchase that promissory note which will then pay off the transactional funder. So this is an A-B, B-C and B-D closing, all on the same date.

The broker is assuring me that his "go to" REIT firm has the "investors" lined up to purchase these notes. However, it has been a few days and he hasn't spoken to the firm's manager or even a contact.

I would like to know where I can find one of these REIT's that has investors who are interested in purchasing discounted unseasoned notes for high ROI yields. If there is one then there has to be many more.

If anyone knows, please inform me asap! Thanks.