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Updated over 13 years ago, 06/05/2011
Selling Owner financed mortgages
Mitch Stephen wrote a post that basically talked about how he flips.
Find/Buy/Fix/SellOwnFin/SellNote
Was curious how many other people do similar types of deals (mainly the sell note at end). I've always done it find/buy/fix (if needed)/sell. If i could owner finance i think selling would be a ton easier while still getting a qualified buyer (maybe someone putting a heavy down but just lost a house to foreclosure etc).
Assuming this situation, (out of thin air)
Reo purchased for 40k, put 5k into repairs (lets say carpet paint etc). Expected normal sales price is 65k, owner financed off for 80k with a 25% down payment at 7.5% interest. 10 year balloon.
What would I expect to sell that note. Any forums that you guy can think of that deal with note selling?