This is a full note purchase. This note comes with a three year warranty. At a purchase price of $28,330.86 it provides an 11.5% yield to the investor.
Contact us today to discuss how you or your IRA can purchase.
Call 480-438-6920
Email Josh@NotableInvestors.com
REASON FOR SELLING
We frequently sell mostly to recapitalize, meaning we will sell a note or some amount of remaining payments, in order to recover money to use on another deal. This helps keep our money moving, and also provides good returns and yields to our investors. Each loan we sell also comes with a performance gurantee for the buyer.
NOTE WARRANTY
The notes we sell are backed with equity, and we sign an agreement with you ensuring if the borrower defaults, we will buy the loan back from you for the amount you paid, minus any payments you may have received. This helps provide comfort and peace of mind. Contact us for more details on how this works.
DETAILS ON THIS LOAN
In short, this is a 2nd lien covered completely by equity. There is approximately $159,000 of equity above the 1st lien, which means the 2nd lien is completely covered. The loan was modified on 11/5/2017 and the borrower has put down $1,500 to begin the modification. The borrower has also made an additional two payments. The next payment due is on 1/20/2018.
NEGATIVES
The loan is recently re-performing. It was non-performing at one time. This is not usually an issue when the loan has been modified correctly. However, in addition to equity in the home, we believe the note warranty helps put to rest any concerns regarding borrower default.
WHY WE LIKE THIS LOAN
Equity and a nice monthly payment of $400.11 which is ideal for an IRA or savings account.
LOAN DETAILS
ITEMS WE HAVE AVAILABLE FOR REVIEW
We can review all these items on the phone together. We are happy to spend time together and talk and review so you learn as much as possible during the process.
SALES PRICE
We are looking to sell this loan for a purchase price of $28,330.86. This will provide a 11.5% yield for the investor. If this is of interest, we can review all items and also calculate the yield together, so you understand what you are getting and how everything works.
Contact us today to discuss how you or your IRA can purchase.
Call 480-438-6920
Email Josh@NotableInvestors.com