structuring a note before sale?

[Andrew Ikeda 0]

Note Experts,

 

Just wondering if I could do a private r.e. note with the seller and then sell it to notebuyer at closing or shortly thereafter?

 

What would be the legal implications on this (if any)?

 

What should the interest rate be or not be and how does the note seller make or get his money if the note is discounted?

 

The investment property would be a strong one and the rental income could support operating expenses and debt service (providing it's not over 12% + interest).

 

How could a person go about doing this? Can any of this be done? If so, how?

 

Thanks,

 

Andrew

[4Rmgt 0]

Andrew,

 

Selling a note at closing is called Temporary Seller Financing. It is done on a daily basis. We do several a year actually.

 

I don't want to send you off on a wild goose chase, but I do have a page on this that I have targeted to Real Estate Agents and Brokers.

 

http://www.4rmanagement.com/agents_brokers.asp

 

Hope that helps!