Advice Needed on Selling Note Partial

[Steve Schmidt]

Hello,

I am looking to sell a partial of a note on a property in Colorado.

The property sold in Sept 2023 for $130,000. The buyer put $30,000 down.

The $100,000 note is being serviced by a servicing company in Texas.

7.25% Interest

15 years

PI $912.86

The note is performing. Secured by Deed of Trust.

The property is a manufactured home attached to land in Southern Colorado. The title to the home as been purged. The property passes with a General Warranty Deed. The property was closed with a Title Company. The home is non-owner occupied, the buyer is an investor.

I am looking to sell 2 or 3 years of payments.

I am looking for suggestions where to list the note, or find a real buyer. I have heard of a lot of scams with note buyers, just like pretty much everything else. I did see paperstac in some posts, and will be checking it out.

Thank you very much,

Steve

[Ty Coutts]

Hello, Steve Schmidt, selling a partial note can be a great way to generate some immediate cash flow while retaining ownership of the remaining note balance. Here are some suggestions on where to list your note and how to find legitimate buyers:

Online Note Marketplaces
Paperstac: A well-known platform for buying and selling mortgage notes. It offers a secure and transparent process for both buyers and sellers.
NoteTrader Exchange: An online marketplace where you can list your note for potential buyers.
LoanMLS: A marketplace for buying and selling mortgage loans and notes.
FCI Exchange: Another platform where you can list and sell your notes to investors.

Note Investing Forums and Communities
BiggerPockets: A popular real estate investing community where you can network with potential note buyers.
LinkedIn Groups: Join groups focused on note investing and real estate to connect with potential buyers.
National Note Group: An online community where you can connect with other note investors.

Note Brokers and Buyers
Note Brokers: Engage with reputable note brokers who have access to a network of note buyers.
Local Real Estate Investor Groups: Attend meetings and network with local investors who might be interested in purchasing your note.

Financial Institutions
Credit Unions and Community Banks: These institutions may be interested in purchasing performing notes.
Private Equity Firms: Some firms specialize in acquiring performing mortgage notes.

I hope this give some direction regarding your situation. Feel free to message me with more questions as they come.