All Forum Posts by: Marco Bario

@John Dean Dean

If it’s going to be owner occupied then you should use a loan servicer as its required by law in most states and for every incorrect statement you send every month you are committing CFPB violations and if the borrower defaults you are technically not allowed to collect interest - in some states if they have a good attorney and default they could wipe you out in legal fees…

My bigger question is why would you seller finance? If the property can be sold with conventional financing I am on the other side of things (and the minority) they seller financing is a bad idea due to the risk and the returns especially when considering tax ramifications

Hello, Steve Schmidt, selling a partial note can be a great way to generate some immediate cash flow while retaining ownership of the remaining note balance. Here are some suggestions on where to list your note and how to find legitimate buyers:

Online Note Marketplaces
Paperstac: A well-known platform for buying and selling mortgage notes. It offers a secure and transparent process for both buyers and sellers.
NoteTrader Exchange: An online marketplace where you can list your note for potential buyers.
LoanMLS: A marketplace for buying and selling mortgage loans and notes.
FCI Exchange: Another platform where you can list and sell your notes to investors.

Note Investing Forums and Communities
BiggerPockets: A popular real estate investing community where you can network with potential note buyers.
LinkedIn Groups: Join groups focused on note investing and real estate to connect with potential buyers.
National Note Group: An online community where you can connect with other note investors.

Note Brokers and Buyers
Note Brokers: Engage with reputable note brokers who have access to a network of note buyers.
Local Real Estate Investor Groups: Attend meetings and network with local investors who might be interested in purchasing your note.

Financial Institutions
Credit Unions and Community Banks: These institutions may be interested in purchasing performing notes.
Private Equity Firms: Some firms specialize in acquiring performing mortgage notes.

I hope this give some direction regarding your situation. Feel free to message me with more questions as they come. 

 I agree. 2024 we have been slammed as well. I think people need to realize, if they are not going to go hunt for their own food and have it served to them, then they will pay more, just like going to a restaurant - so expecting 11%+ for someone to find the deal is still around, but expectations should be lower. If those do not work then go buy a rental that does not cash flow. :) 

@J Newman your husband can roll that into a self directed ira and use all the funds for investing and no loan to pay back unless you get financing on the property.  If he has legitimate self employment activity he may be eligible to create a solo 401(k) which is superior in many ways to sdira.  

 Joined the sub to community