Notes

[Marques Rounds]

Were looking at wholesaling a tri-plex in TX. Great Income property or wonderful for extended family!! Currently 1 unit is occupied. Monthly gross 2400 month when all units occupied. 2- 1 bedroom 1 bath. 1 -2 bedroom. Seller will consider carrying note with 30K down. What does 'seller will consider carrying note with 30K down' mean?

[Mike Hartzog]

Brent - I think the transaction you described is a flip.  (Investor buys and resells at a higher price.).  In a wholesale transaction, Marques would execute a purchase and sale agreement with the seller and then assign that contract to another buyer for a fee.  The buyer then closes the sale with the seller.  The fact that the seller is offering financing can be a benefit to the deal, because the end buyer has an additional option for financing the purchase.