What Are Promissory Note Buyers Looking For In A Note?

[Scott Johnson]

Hey, Everyone!

I found a mobile home lot in a good neighborhood that has everything ready for another mobile home to be moved on and hooked up. I'm going to purchase it cash ($16,000) and originate a loan at $25,000 at 8% for $209.11 per month (which is the cost of renting a lot in the area).

My goal is to hold this note, but I also want to keep my options open by making sure it's a quality note that I CAN sell if I deem it necessary. I'm planning to use this education for all of my future seller finance deals as well.

If you are a note buyer and know what you like, please post it below. If you know of any educational materials I can review or paid programs that you've found valuable, please let me know!

Two of my guiding questions are:

• What do you look for in a quality note?
• What percent of face value do you normally buy your note (if that's even the measure that you look for)

Thanks in advance!