People sell their notes for many, many reasons, most of which are because they need cash now, such as:

They are behind on bills

They need a vacation

They want to purchase a boat or RV

They want to pay off their credit cards

They have another project in which to invest

Their kids are going to college or having a large wedding

They need a new car or repair the old

They want to buy a new home or remodel the old

They need money for medical bills

They are divorcing or one of the holders passed away

They need to pay taxes

They just had a baby

People also sell their notes for other reasons

They are holding paper for a relative who has taken advantage of the relationship

They want to eliminate the bookkeeping headaches

They have issues with the current payors

They want to expand their business and need the cash

The risks of keeping a note can be many, risks that are sometimes better controlled by professionals:

Late or missed payments


Liens on property

Default on loan

Damage to property

IRS reporting requirements

Payors looking to you for repairs

Failure to pay property insurance or property taxes

Destruction of the property

Bankruptcy, foreclosure or delinquency

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