I am selling my real estate note. How come nobody answers the phone?

In the note buying business, you are going to find that 95% of the people in it are part timers.

They are working their "real" job during work hours and then when they are home they can tend to their part time note broker business.

You can either leave them a message on their voicemail machine, or you can call us.

We are the investor, not brokers. Redphonefunding.com 866-478-0585 someone is here buying real estate notes Monday-Friday from 6am to 5:30 pm Seattle time.

Want to talk to a real person about selling your note? Pick up the phone and give us a call.

Again, 1-866-478-0585 to get a live note buyer on the line to answer your questions about cashing out your real estate note.

I am thinking about creating a seller financed note.

I am selling a rental house and the last potential buyer couldn't obtain a new loan from the bank.
My real estate agent said I should offer seller financing and carry the note for the buyer.
Obviously, this would facilitate a quick sale of the property. But, I am not sure I want to carry the note for the next 20 years.

My real estate agent says that I could take a 10% down payment and get a good return of 5% interest rate. He says that should I want to sell this note, it would be very simple to sell the note to a note buyer.

Is this accurate? Is the real estate agent shooting straight with me?

A: Nope.

Typically, the agent is looking out for their commission, not your best interest.

With only 10% down payment (and realize 6% will go straight to your agent), this small down payment will prevent a note buyer from buying the entire note from you. The reason is that the loan to value of 90% is just too high for a note buyer.

5% interest is better than you could earn in a CD, but most note buyers are going to be in the 10-18% yield range. Which means you will be taking a decent hit even on a partial note sale.

Will seller financing enable you to sell the property quicker? Yes.

Will you be able to sell the note for 95-100 cents on the dollar like most real estate agents suggest?

No way.