A bank that lends against promissory notes...

[Collin Corrington]

I've used one particular local bank (San Antonio, TX area) to "leverage"  real estate notes I've created.  But during this weird time, they have gone radio silent on me.  This is making me realize I've put a little too much faith in this one institution. 

This is a huge part of my owner finance strategy. Basically it's a BRRRR strategy but instead of the second "R" (rent), I sell the property owner finance. I then take the promissory note (all created by an RMLO, lawyers, and closed at a title company with insurance) and borrow against it to pay back the money used to create the note (Purchase and rehab costs). P&I cover more than the 10 yr loan cost. So I create a little cash flow for 10 years, and then the last 20 years of the mortgage are all gravy for me. Basically an infinite return and a cash flowing property (for 30 years) that I don't have to manage.

Typically they lend between 70-80% of the value of the note.  

Does anyone know of a bank that would consider lending with a note as the collateral?