Selling one of my notes to generate cash

Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes

I have a note for $65,600.00. The interest rate on it 10.4% $600.00 P&i month on a 30 year. The property is in Texas it is a bedroom 1 bath , large yard, ect. I think I should of sold property for more looking back on the translation. What could I expect to sell the note for? I have never sold a note before.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
10y
HUGE discount probably in the neighborhood of 40 to 50% less than principal balance
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
10y
your best bet is to just sell a partial.. just a few years of the cash flow you won't take such a dramatic hit.. although myself I would not be keen on a 1 bd home incase I had to own it.. and I would want to know that since you sold it to a homeowner that you did full dodd frank compliance
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Joshua Andrews
Lender · Austin, TX · Member since 2012 · 211 posts · 166 votes
10y
Joel,
I am located in Austin TX. If you are serious about selling, feel free to message me with more details. Particularly regarding what amount of cash you need and why. I buy partials as well full notes.
Josh
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Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes
10y
The house is a 3 bedroom 1 bath, as well as a loft and an extra large yard. Didn't mean to say one bedroom earlier, I meant one bath.
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