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Updated almost 10 years ago on . Most recent reply
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Unseasoned buy and hold Notebuyers out there?
Besides all the brokers floating around claiming to be note buyers, does anyone know real buy and hold note buyers that will buy what would be HIGH YIELDING UNSEASONED NOTES? I do understand that the discount would be significantly high.
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Originally posted by @Efrain Gallardo:
* I am a wholesaler that is offering owner finc on some of my houses.
This is a little confusing. So you are wholesaling a property to a Buyer who does not have sufficient capital to give to you to pay off your Seller. This sounds like a nightmare waiting to happen.
How can you convey clear title when you don't have clear title? Then you further cloud title by attempting to take back a mortgage on your Seller's property which you don't have enough capital nor does your Buyer have enough capital to complete the sale(s).
If I am missing the operation plan here, please correct me. If not, the issue here is far greater than a newly originated note. I am having a hard time seeing how this mortgage would even be valid.