Feedback on this note?

[Jon Klaus]

I have a buyer and am considering offering financing as follows:

Sales price $43,900
$4900 down
$39,000 financed
10 year term and amortization
11.5% interest
Principal and interest: $548.32
Escrow taxes and insurance
Buyer FICO @ 600

What's this note worth? Any suggestions?

[Marc Faulkner]

Thanks for the kind words! I have been slacking on my posting because I have been super busy putting deals together for a change and, have not had as much time to keep my eyes on these boards as I did this Winter.
The advice I gave you comes from the heart and is exactly what I do once I create a note. I look to partner with private note buyers looking for mail box money at a decent, secure return. This advice actually cuts us out of the loop but, private investors are always my first plan of attach when it comes to selling notes because we get to make the rules vs. working with institutions that make the rules when they buy. The Golden Rule of Real Estate is: "He who has the GOLD-makes the rules!" It is much easier to find an Aunt or Uncle that has some money tied up in useless investments and show them how they can actually get a nice secured return!!