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Updated almost 5 years ago,
Person looking to borrow against the equity in the notes
I've got approximately $3.2mm in unpaid balance in 52 notes that I’m looking to get a loan on. Most are 10% interest with a 30-year term. The notes range in age from 2014 to present with the majority of notes created between 2017 – 2019. They are almost all performing notes. The notes are on residential, owner-occupied properties. I'm looking to borrow against the equity in the notes.
My credit is over 800 and I have about $180K in reserves.
The loan will be used to acquire new property and for rehabs.
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Is this even possible? THanks.