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Over the past three years we have purchased approximately 1,000 single family homes. After securing and inspecting, we price the properties using the rental metric to establish value. We have sold over 800 of these properties, and provided the financing to the buyers. We have serviced the notes, and now are going to sell them in portfolios of $250,000 to $5,000,000. All of the notes are performing, and we have the deeds. The properties are sold using Land Contracts. We will provide payment history on all of the notes, as well as detailed information regarding each property.
Interest rate range from 11% to 12 1/2%, note value approximately $27,000, term 12-17 years.
We will offer servicing for 6 months so buyer can become familiar with all aspects of collections.
All files are electronically scanned and stored, and access will be provided to qualified buyers.
We will discount to provide yields of 18%
Are you selling just the performing note or deeds with a performing note?
Are they seasoned?
Can we cherry pick?
We are selling the notes, and the deeds go with them. All of sales have been "Land Contracts" so the deeds remain with the notes until they has been satisfied. The notes are seasoned, between 1 -3 years old. We service the notes ourselves, and have all of the payment history. We are not going to allow someone to access all of our files to buy a small number of notes. If you are interested in purchasing $2,000,000 to $3,000,000 of notes, we will allow you to choose from our portfolio of approximately $9,000,000. We will discount the notes to achieve a return of approximately 18%.