Posted by Vincent Sellers on January 15, 2005 at 23:24:01:
In Reply to: Is the market very active? posted by Bill Taylor on January 12, 2005 at 23:34:34:
Give me a call to discuss this. If you would like to convert and then sell, you can use the seasoning from the L/O to get you better pricing on the pool. I would be able to give you a bid based on the terms of the notes that would be created and let you know ahead of time what you would get at closing if you converted your L/O to notes.
Posting your notes on the internet is not always the best option. What happens is 50 brokers will grab that note and take it to their investors like it was their own. Lots of investors will see the same note over and over and they won't know who is actually in contact with the seller so they won't bid as well or may not bid at all since they don't want to waste their time. Any broker that has been in the business long will know not to post their notes. The exception being that it is a hard to sell note.
In my opinion you are better off using a few select brokers that have experience and won't post your note. Take the best offer and go with it. I would think you would be better off doing it this way. Make sure you ask about who will be paying closing costs.
I would be happy to discuss this further with you and even give a bid of my own. No obligation.
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