3. 6. The first and second place notes can’t add up to much more than 70% of the value of the property, or you’ll be looking at a steep discount Discounts, by the way, will almost always seem steep. No upfront fees. Processing time varies, so ask. 4. I’ll let them explain why. Rich Dad Real Estate Seminar You’ll need to provide information like the type of property, sale price, payment amounts, current balance, etc. It is common for note buyers to pay 20% to 30% less than the current balance on the note.

When you get a quote you like, you’ll have to send copies of the Mortgage or Deed of Trust, the Note, the closing or Settlement Statement, and the Title Policy. Note buyers will look at these differently though. Buy Real Estate Notes Second, if the property appraises at less than the sales price, you may have to pay for the title policy, if there are problems with the title that prevent purchase. It could be a mortgage note, or a land-contract or contract-for-sale. You should be able to find many note buyers who will check your buyers credit and give you a quote without charging you. A real estate note is just the loan document created when you financed the sale of your house or investment property. Making Money With Real Estate Unscrupulous buyers can quote one price initially, and then lower it later, using the excuse of the property buyer’s bad credit score. Suffice it to say, they need to make money on the deal, and you should be sure you have a good use for that cash before you sell those real estate notes. The point is that the buyer is making payments to you, and you want to cash in.

Higher. Rich Dad