All Forum Posts by: Brad Crawford

Does any one know of a lender that would use a mortgage note as collateral for a loan/line of credit?

I’ve got several wraps that I’ve done but the interest rates on my underlying mortgages are high so I’m looking to pay them off with some cheaper money. Any suggestions, leads, help much appreciated.

Originally posted by @Kenneth Garrett:

@Brad Crawford

Sounds like a version of a “subject to” deal.  Where deed is transferred but existing financing stays in place.  Most times on the subject to the existing financing the buyer makes the payments.  I like the creativity.  Had a friend have the bank call the loan due. It is very unusual as long as the payments are being made.  Just a word of caution.

 That's the basic idea. There is one private lender that I have used who has no "due on sale" clause and I've done a few wraps with him. The problem is he runs out of money, so I'll have to end up selling the note to cash him out. Maybe I'm looking for a bigger private/hard money lender who would be willing to extend the term out and allow me to wrap their money with a note to an end buyer. Thanks for the reply

Are there any hard money/private money lenders that openly allow you to wrap their money with a note to an end buyer?

@Eric Nurmi I would appreciate it if you would put me in touch with him. I’m looking at a 100 door SFH portfolio. Thank you

Does any one know of a lender that would allow a seller to finance 20% of the sales price and then lend 80% of the deal leaving the buyer to essentially just pay closing and lender fees? Or am I dreaming?

Thanks Abel Teklu they are in an LLC name and it doesn’t have any other debt. Would you know a starting place to finding some of these investor funds you mentioned?

Thanks for the feedback. I’m considering partials

Any recommendations of lenders that will use a note as collateral on a line of credit? In other words I have a few Owner finance notes that I’m looking to leverage for cash. Thanks!

I've heard about that, Jay, just never done any research. I'll look into it, thanks 

how does that work, David?