"Marcus, I have a $50,000 note on a property worth $100,000. I have it under contract for $30,000. Give me $35,000. You get a secured note at a massive discount, and I keep $5,000 as a 'finder’s fee'."
Asking the note holder to "carry the paper" while you work to resolve the property's issues. how to buy notes with no money
He secured an option to buy her note for $30,000 (a discount, since it was non-performing). He gave her $10—literally a ten-dollar bill—as "earnest money" to make the contract legal. "Marcus, I have a $50,000 note on a property worth $100,000
He found a private investor, Mrs. Gable, who had lent $50,000 to a fix-and-flip artist three years ago. The flipper had vanished, the house was rotting, and Mrs. Gable was tired of the taxes. She held a "performing note" that had gone "non-performing." You get a secured note at a massive