Posted by George P. The difference between the note with your buyer It could be a considerable sum of money,$25000, These two notes have nothing to do with each other.People always think there is one note.
on 10/13/2003, 12:45 pm, in reply to "George: Insider Secrets/Page 3/Item No. 6"
68.69.57.86
You have a note with the seller and the buyer.
Two separate notes. Eventually you have to pay off seller's mortgage balance, when the buyer
refinances your note with him. Both notes get paid down, depending on time and interests rates.
and seller's mortgage balance is your profit,
money you get when that happens.
$35000 - I had one note close to $50000. All depends on how well you buy, how well you negotiate your deal with the seller and how well you resell the property-buy low,sell high is applicable in here.
It is not. Two notes, two deals, one house.
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