Would you buy this note?

[Derrick S.]

I had a thought after talking with a note broker locally. Can I create and sell a note to finance a flip?! It would look like this:

9% APR on $120,000 secured by a property currently assessed for $145,000. 12 month call, 6 months of payments held in escrow for note holder's security, 6 months payments available in bank. 

I'm making payments and either refi-ing out in 12 months or selling.

What do you note moguls think?