I ask you why you think that, you respond something about the American Land Title Association (ALTA) and some attorneys/title agents told you so, I quote ALTA's policy to you where it says that you CAN do double closings, you dance around and reference some attorney or title agent told you so, I ask who specifically told you that, and you never give me a straight answer.Please, Bill, tell me who exactly told you that and what city and company they work for, and I will personally call them and discuss the issue with them directly.

Thanks for the detailed feedback.Given the notes are non-recourse what are the repercussions if they stop paying and go straight foreclosure?

I have my work cut out for me today and some talking to do with my friend and realtor to see if I can't get some straight answers out of her now that I understand a bit of what is going on.

I'm assuming the lender has hung on through a 6 month loan and doesn't want to take ownership or be a landlord, just wants his money back, but that might not be possible if everything goes to heck in a handbasket.FYI my exit strategies are straight retail sale, lease/option, sell to another investor to cover expenses.Thanks for your help!

i hold a few notes...i've only sold one so far, but am currently looking to sell another..let me tell you about my experience...my buyer was an investor with a few properties, 650 credit score and put 10% down on a fully occupied 4plex...after a few months of ontime payments, i could only sell the note for 80% of unpaid principal balance...i'm told by a few note investors, that was actually a pretty sweet deal for me, although i don't have much experience to back that up with...my investor didn't want mortgages on his credit report, but could have gone to his small bank and gotten another loan, so he was a rare situation..most people you owner finance to won't have 10% down, and good credit..so you're prob looking at less than what i received, even though my buyer was non owner occupied...i don' tknow if your spread is really large enough to do well at this....i bought my 4plex for 54k, and put 20k into it...then sold it for 139k owner financed..after the 10% down, i think the note was for around 125k..the note was sold for just around 100k if i remember correclty..maybe a little less (i really can't remember right now)..anyways, i had enough spread that after collecting the 13,900 downpayment and selling the note, i did ok...your numbers look a little tight...there were closign costs to sell the property on terms, and then there were BIG closing cost numbers to sell the note...i bought that property with a mortgage, so i had to sell on a contract for deed, so that affected my closign costs bc i had to convert the contract for deed to a note and deed of trust..if you're paying cash, then you can straight owner finance and probably lower your closing costs on the sell side of the note...depending on how good your buyer is, and how timely the payments are though, most offers i'm getting on my notes are between 60-80%...hope that helps...i've heard the best thing to do is find the old people who want a steady income stream secured by the real estate, but once they find out, i'm selling and getting out of the deal, i've had no such luck...ifyou do that, you're sure to get a higher offer than from a broker or institutional note buyer...sorry for the long post

Its really nice to find a lot of straight information somewhere.

if it went straight to the plumber, then maybe he got a bill form them that didn't reflect that it was a warranty item replacement?

We pull this data straight from the Tax Assesors sites coast to coast and save you a tremendous amount of time that you would have to invest to find a fraction of these people.

i heard they are a pain to wholesale and require alot of time. i am new to this and ive been reading everything about wholesaling for about four hours straight. i wanna wholesale but i need to find ........ thats the thing, i dont know where to look yet. do i look for banklistings or do i look for sale by owner or what do i do?

The plat showed a 90 degree turn, and straight streets, and property lines perpendicular to the street.