21 Dec How to Find Real Estate Notes for Sale?
What Are Real Estate Notes?
A real estate note is a written note of promise that pays back a large amount of money. The person who borrows the money is called the payor who has the obligation to pay the payee. The payee is the one who will receive the monthly payment from the payor. The note is secured by a lien which is the property of the payor. That is why this type of note is valuable.
Many people are investing in note business like buying real estate notes because it is a good investment. The return of money in this note is visible, especially when you rehab a note. For those who want to be in this business and invest in note buying, here are the following places you can find them.
Places to Find Real Estate Notes
- You can find real estate notes for sale on websites such as FCI Notes, local listing that list classified listing of real estate notes that are for sale. These websites sell any kinds of real estate notes such as seller-financed notes, individual notes, mortgage notes or wholesale of notes. Registration may be needed for you to search notes for sale on these websites.
- You can contact real estate private lender, brokers or any financial institution. You can find out if they have notes for sale. The broker may act as a middleman and does not really own the actual note for sale. The note broker or private lender also refers to as “cash flow note”. You can find these brokers at business associations, over the internet or real estate investment meeting. There are many lenders such as Note Seekers who will attend this kind of meetings or gatherings to find note buyers for their notes.
- Real estate note listings companies. They will offer details of the note postings and will display information such as the note current balance, the original amount of the note, deed of trust, the location of the property, equity and many more. All the information that you may need when you are going to buy a note. Some of these listings may even include the picture of the property that is securing the note.