All Forum Posts by: Chris Anderson

Quick update so far no luck...I have one possible lender.  So working on it still

I never sold the mortgages we spoke on. I am however looking to borrow against them as collateral. Do you know anyone who might be willing to do that? Or maybe someone else does?

My wife owns a portfolio of 2nd position mortgages we are looking to leverage.  Here is the story:

We sold a portfolio of rentals to a single buyer and part of the deal is we held back a 10% mortgage.  He still put down 15% on top of the 1st and 2nd position mortgages.  So initially there was at lease 15% equity and on some the appraisals came back higher so there is even more equity.  Two years has passed and all the properties are worth even more now.  

We have several business and are looking to borrow against these mortgages.  The portfolio has a face value of around $800k.  We would like to use it as collateral for a loan of about $250k.  Does anyone know a lender who would do this.  The payments from the mortgage would cover a loan of this size as 12% interest.  

thoughts?  Know anyone who might be able to help?

Chris

 

I understand.  Absolutely.  I am aware that I will not receive face value for the notes.  I am asking how to sell them and value them.  And soliciting for buyers or a referral to a buyer.  

So how much would you think a portfolio with these returns would sell for?

I would like to sell a second position mortgage portfolio I own.  Any suggestions on the best way to value it.

We sold a portfolio of properties to a single buyer, all notes are performing.  The notes are interest only at 3% for 30 years.  Mainly it was kind of a bonus to us since we sold for  significantly more then we valued the portfolio at, and without an agent.  

Total mortgage face value is $937,000.  Monthly Payments Total $3,932.  There are 25 properties that have notes just to be clear.   28 years remaining on payments.  How do I value them and How do I sell them is the question....thoughts?