You've got the right idea. I've been down that road in recent years too and with the seasoning issues many lenders require on rehabs like 24 months consecutive chain of title....well, you've got to think outside the lines.

I previously had looked at this same alternative. However, a few items I found were that the note buyers I located were recourse loans which meant that you still were responsible if the buyers defaulted. I wasn't intereste in that. In addition, the discount was pretty steep so unless you're willing to take 10-20% less than retail then it can be a problem. Lastly, I finally figured out that getting my buyers qualified with a note broker for buying the note meant that heck I could get them qualified under conventional financing. It just took me a while to to find the right type of mortgage broker.

I feel like its worth your while to put some time and effort into searching for a quality mortgage broker that intimately knows your needs as a rehabber and can steer your applicants in the right direction for financing. All the hard work of buying and rehabbing ultimately lies with getting the right type of financing so you can get that big pay day.

Please let me know if I can assist further.

Thanks,
Scott