Seller financed notes

[Nate Andree]

Hi, I am an investor in the seller financing industry located in Appleton, WI. I buy seller carry back notes from individuals who want to have a lump sum of cash for their note. Whether its a business note, commercial, auto paper, SFR, raw land, etc. Does anyone in this forum see this kind of deal?


Nathan J. Andree
Investment Solutions
1-877-576-7159
Cell # 920-428-9858
E-mail: natejen@new.rr.com

[Aldo]

I'm just a Milwaukeean stopping in to say Hi to my neighbor to the north.

[Nate Andree]

Hello from the great NE. I'm originally from Madison but have been living in the Fox Valley for 4 years now. Trying to find notes in Wisconsin has been a little tough. Thought I would be able to find more.


Nate

[Dan Auito]

Hello from the great NE. I'm originally from Madison but have been living in the Fox Valley for 4 years now. Trying to find notes in Wisconsin has been a little tough. Thought I would be able to find more.


Nate

Nate, welcome to the forum, we're glad to have you! You'll want to stop by one of our members sites (Greg) at www.ownerwillcarry.com I'm sure this will be of interest. Let us know what shakes out! Dan

[Nate Andree]

Nate, welcome to the forum, we're glad to have you! You'll want to stop by one of our members sites (Greg) at www.ownerwillcarry.com I'm sure this will be of interest. Let us know what shakes out! Dan


Dan,

I took a peak at their website the other day and dropped a line to them. I would imagine they get a great deal of traffic. What I have found with owner or seller financing is that alot of people aren't aware of this method of selling their home. I have a couple of deals going right now on some SFR's and the owner is really excited, as is the buyer, about not dealing with the banks or lenders and closing in half the time. Take care,


Nate

[Dan Auito]

Dan,

I took a peak at their website the other day and dropped a line to them. I would imagine they get a great deal of traffic. What I have found with owner or seller financing is that alot of people aren't aware of this method of selling their home. I have a couple of deals going right now on some SFR's and the owner is really excited, as is the buyer, about not dealing with the banks or lenders and closing in half the time. Take care,


Nate

No doubt about it Nate there are a lot of pluses to owner financing. Being the bank can be very profitable not to mention it opens up financing avenues to so many more prospective purchasers and really cuts down on the red tape, junk fee's and capital gains tax hits upon sale.

Do give us a rundown on the benefits as you see them regarding owner financing. Thanks so much. Dan

[Nate Andree]

No doubt about it Nate there are a lot of pluses to owner financing. Being the bank can be very profitable not to mention it opens up financing avenues to so many more prospective purchasers and really cuts down on the red tape, junk fee's and capital gains tax hits upon sale.

Do give us a rundown on the benefits as you see them regarding owner financing. Thanks so much. Dan


Dan,

Some pluses about the seller financed notes are that there are no banks involved. Like you said Dan....you are the bank and have monthly payments coming in. It usually takes about 45 days for a bank deal to close. With a created note it could take 3 weeks. Also folks with marginal credit can still get into the house that they want. Usually people with scores in the range of 575 or higher can get the ball rolling. That and usually a minimum of 5% down. There are no points assessed, no realtors, and the note is created just like a traditional loan. I've seen them set up differently, but usually its a 30 year term and hopefully with no balloon. The one downfall is that the interest rate is usually in the 8-10% range. But you have to take that with a grain of salt in my eyes. If the buyer wants to build equity and has the credit mentioned above, they have to be willing to give a little to gain alot. Just my 2 cents folks.

Nate