“I want to sell my real estate note in Minneapolis St Paul Minnesota …Where do I start?”
Holding a real estate note, private mortgage note, private promissory note or other paper real estate asset in Minnesota can sometimes be challenging proposition: They don’t always offer the highest returns, you collect your cash over a period of time, and can come with the hassle of chasing payments.
And if you are trying to collect from a bad borrower or are facing the threat of foreclosure, you could actually collect less than you deserve. If you are the first possession it is not as bad, but a note in second position can be the kiss of death when the person who owes you can not make their payments. We see this happening now with a Corona Virus here in Minneapolis St Paul.
Are you missing out on better opportunities because you’re holding real estate notes?
Although some people may choose the “wait and see.. and hope” method of holding real estate notes, you may prefer to get rid of your real estate note now so that you can reclaim the capital and use it for a different investment or use the money for something that came up that you need liquid cash for.
Getting rid of your Minnesota real estate note and selling it to another investor often is your best option because it lets you do more with your money. Often home owners want to sell their homes and can not do so threw traditional ways. They needed to do a owner financing deal to get rid of their house. Now they are stuck for 15, 20 or even 30 years waiting for their money from the house sale.
For example, you can sell all or part of your private mortgage note or other asset and use the cash to reduce or eliminate your debt so that you no longer have to pay the debt service on it. You might have higher interest credit cards, 2nd mortgages on your house, or just need to pay back someone you borrowed money from.
Or you can reinvest the cash in another type of investment that has a higher yield. This is a particularly good idea if other potential investment options are doing well, such as the stock market, local Minneapolis St Paul or Minnesota real estate, or municipal bonds.
You can even sell off all or part of your real estate note in order to diversify your portfolio. It’s never a good idea to have all of your eggs in one basket.
Here’s the problem, and the solution, to your Minnesota real estate notes
The risks including not collecting the money owed to you. This might be why you want to sell your real estate note in Minneapolis St Paul, it can be frustrating when people don’t pay what they owe. Perhaps the bigger risk is the opportunity cost of missing out on investing your money in a better investment. The personal who owes you money could just stop making payments, and if its on a house you sold them, they can just stay their rent or payment free until you legally get them out. With the stock market doing so well last year and this year with the corona virus, the market has tanked. If you had this money you could invest it in the market and watch it rise at the market rebounds.
Holding on to your real estate note or a similar asset is not risk free. Property values are notoriously unstable, especially in today’s economy. So the asset you think has a high value today could actually be worth far less in the not so distant future.
And then there’s the hassle of owning a real estate note. Not only are there the book keeping problems to worry about month after month, but collecting on the real estate note is not always a straightforward process. You might have to chase down the person who owes you and ask for payment every month. And if the property goes into foreclosure, you risk losing some or all of your investment. All your years on making payments go down the drain.
Your best bet is to find a Minnesota real estate note buyer (we’re based locally in Minneapolis St Paul!) who will pay you a fair price without jerking you around. If you’d like an offer today, give us a call at (612) 444-5088.
Fortunately, there’s a better solution than holding onto an unwanted note: Convert those notes to cash, so you can regain control of your money.
Cash is the most liquid asset. It allows you to use it anyway you like without any obligations or risks. You will be able to be flexible and buy in the stock market if need to, or buy another houses if a great deal comes along.
When you sell all or part of your real estate note for cash, you can use it to make newer, better investments that allow you to grow your portfolio faster. You have more options in terms of reducing debt. Don’t just think about wanting to sell your real estate note in Minneapolis St Paul, reach out to us and see what we can do.
Or you can simply use cash any way you like. Maybe a cabin up at the lake, retirement home, or a much needed vacation you have be promising yourself.
I want to sell my real estate note in Minneapolis St Paul now!
If you are interested in learning more your options for selling all or part of your real estate note in Minneapolis St Paul, call us at (612) 444-5088 or click here to visit our website so you can learn more about your options. We specialize in all areas of real estate including buying notes.
We can make you an all-cash fair offer on your note payments today, so head over and fill out the form on our site to get a fast-free quote, or give us a call today at (612) 444-5088!
Here at Minnesota Cash Home Buyers we look forward to connecting with you!