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Hello and :welcome:

Hello and :welcome:

Hello everyone,

I am always asked the question: Can you sell a second position note?

Yes, it is possible to sell a second position note. There are investors that will purchase them, I know of about 12, so far.

BUT, there is a basic criteria that they follow:

1) The rate must be good--such as 7% and up
2) The note amount usually starts at $20K and up
3) They will buy less than 6 months seasoning

Each investor has other criteria besides these. The note would need to be presented to them for them to review. And they may have more questions. They will want information about the first position note.

I hope that this helps those that have asked.

Hello and :welcome:

Hello Eric,

:welcome: to the forum.

Have you joined your local REIClub? Have you networked with others there? Have you learned your local market? Have you found your financing?

These are questions that will help you know when you are ready.
When these questions are answered, then you must proceed.

As you proceed, ask us questions. We can help you along the way.
Good luck.

Michael does make a good point. Make your own decisions. Do not let anyone sway you. Good luck.

Hello and :welcome:

Education and knowledge is your best bet right now. Learn all you can from this forum and all reading material that you can find about what you want to do in real estate. Also, I would suggest that you join your local REI club and learn your market and network with others that can help you. When your ready, then invest.

Hello and :welcome:

Hello and :welcome:

That is great. You took the first step. Now, you are on your way.
Good luck!