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How much should expect to get when I sell my promissory note? 80% sound about right?

by talal_852 from Los Alamitos, California. Jan 11th 2016 Reply

William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,924 contributions

Much more info required, but this I know for sure.. in the absolute BEST scenario, you might get 80%.. Note buyers have a whole questioner that they use to determine the value of your note.. What is the security (property)? SFH, Condo, MFH, land, Commercial building? Whats the credit score of the original borrower? how long has the note been paid? What the interest rate of the note? Is there a balloon? if so, when? etc, etc, etc.. without knowing all the details it's impossible to say, but based on my personal experience, I could not find anyone to give me more than 60% on 6plex with a borrower with a 740 credit score, 8 year note at 7.5% First position, with a 10% loan to value, paid good for 3 years.. so when I say 80% is the best scenario, i'm speaking based only on my personal experience.. But if you want to know for sure, then pick up the phone and call a few note buyer companies, do the questioner, and let them make you an offer.. then you will know the true value of your note...I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Jan 11th 2016
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