Performing notes for sale, secured by deeds on SFD

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%

 

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We do not run credit, rather we use rental payment history and income.
Our average LTV is greater then 30%. We have $10,000,000 of notes, with $2,000,000 aged over 24 months, and performing. I don't think we fit your requirements.

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