Posted by MichaelR (NoVA) on October 28, 1998 at 18:00:50:
In Reply to: Chislers - Commissiondectomies - Contolling notes posted by John Behle on October 28, 1998 at 12:26:52:
Here is my next question.
I understand the basic premise behind notes, but for the most part am a complete note newbie.
1) I like the idea of being loaned money based on the note, but don't think that is an option with the deal I am doing now. It is being brokered another level after me, I believe.
2) I'm sold now on a double closing. I also realize that I have to get my option to purchase in writing. I was holding off on that until I had a buyer, as I had no idea what price to negotiate to. Any source for an option agreement? I'd be happy to order a course, but I need to answer this particular case tomorrow. Can anyone send me a simple agreement, or would I be okay modifying one of my real estate option contracts?
3) Are there any courses/resources available on attracting private investors? Obviously, this would be the preferable situation - as I'm getting plenty of notes, and would prefer to go directly to a principal rather than through a multitude of brokers. I am concerned about doing this in a legal manner, and don't know where to turn.
4. If anyone can point me in the direction of an investor who is interested in a regular source of mobile home paper written to their specifications...please let me know.
Thanks for all the answers.
Michael
- Re: John..you're near angelic...and... MIKE 09:04:30 10/31/98 (0)
- State form would work fine John Behle 03:16:01 10/29/98 (7)
- Re: State form would work fine Bud Branstetter 09:47:28 10/30/98 (4)
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- Liquidated Damages Marvin Seawood 23:08:33 10/30/98 (1)
- Re: Liquidated Damages Bud Branstetter 08:52:57 10/31/98 (0)
- Re: State form would work fine daveh 08:15:33 10/29/98 (1)
- Board office John Behle 18:37:47 10/29/98 (0)