Howdy from Houston, TX - owner finance investor

**jimmysyf** · 06-25-2008, 10:24 AM

Hi everybody,

I joined this forum long time ago but it didn't get the chance to introduce myself.

I am originally Egyptian and i am located now in Houston, TX. So, i am a Pharaoh who is working in the real estate business. That's why i named my company Pharaoh Investment

What we (me and other pharaohs) do is that we buy owner finance notes, the promissory notes, or the mortgage notes ...they are all different names for the same thing. We buy real estate notes, mobile home notes, business notes, land contracts and more. So whenever you come across motivated note seller, i will be more than glad to help!!

Also, I am working on my website which is not 100% complete yet, but i will appreciate if you take a look and tell me your opinion if you think there is anything needs to be changed, added, deleted etc..

I was planning to write a really brief intro but it looks like a blog now

Thank y'all and hope you have a great week!

**jamesww** · 06-25-2008, 03:08 PM

Originally Posted by jimmysyf

Hi everybody,

I joined this forum long time ago but it didn't get the chance to introduce myself.

I am originally Egyptian and i am located now in Houston, TX. So, i am a Pharaoh who is working in the real estate business. That's why i named my company Pharaoh Investment

What we (me and other pharaohs) do is that we buy owner finance notes, the promissory notes, or the mortgage notes ...they are all different names for the same thing. We buy real estate notes, mobile home notes, business notes, land contracts and more. So whenever you come across motivated note seller, i will be more than glad to help!!

Also, I am working on my website which is not 100% complete yet, but i will appreciate if you take a look and tell me your opinion if you think there is anything needs to be changed, added, deleted etc..

I was planning to write a really brief intro but it looks like a blog now

Thank y'all and hope you have a great week!

What percentage do you need the note to be discounted to be interested in a note and are you willing to purchase unseasoned notes? Thanks hope to hear from you.

**jvcus17** · 06-26-2008, 04:09 AM

Pharaoh??that's nice to meet a Pharaoh like you anyway its nice to meet you..cheers..have a good one here..

**jimmysyf** · 06-26-2008, 03:12 PM

Originally Posted by jamesww

What percentage do you need the note to be discounted to be interested in a note and are you willing to purchase unseasoned notes? Thanks hope to hear from you.

Well!! We do buy unseasoned notes. The discount on the note depends on the note itself. I can share some info about couple of unseasoned notes that i was working on last week.
First note, was for $530k which had a good down payment (saying good which 10% or more) reasonable interest rate, reasonable credit score, location, property condition, insurance .... we closed that deal on $505k which is 94% of the note.
Second note, was for $75k, no down, low interest rate, bad credit, no insurance, our best offer was $51k which is less than 70% of the note.

What i can say in general, each note has its own conditions, situations, circumstances, people dealing with .....i think you guys have the same thing in your real estate business whether it is investment, rehab, wholesale, agents, etc... each property is different even if they are in the same area.

I hope that i was able to answer the question and i will be more than glad to help if you have any note for sale

Have a good one!!

**jamesww** · 06-26-2008, 04:23 PM

I would appreciate it if you private message me and we can discuss how you would go about unseasoned notes. This could help me get properties sold if the discount is not to steap.