Miller Note Holdings

Miller Note Holdings LLC · Midwest

Buy low. Sell on terms. Collect for decades.

We buy cosmetically distressed homes from wholesalers across the Midwest, then sell them on owner-financed contracts for deed. Buyers get a home with a monthly payment they can carry. We hold the note.

Send us a deal See the numbers

The model

Sell the payment, not the price.

A low purchase price and a payment a working household can afford open a buyer pool that banks tend to pass over. The note then pays for as long as it runs.

  1. Step 1

    Source

    Wholesaled homes with cosmetic distress only: dated finishes, cleanout needed, worn surfaces. Solid structure, functional layout, intact mechanicals.

  2. Step 2

    Buy

    Cash purchase with no heavy rehab. We target homes at $30,000 and under and sell them as they are.

  3. Step 3

    Sell on terms

    A contract for deed with a down payment and a fixed monthly payment over 360 months. The down payment recovers part of our basis on day one.

  4. Step 4

    Collect

    The buyer handles repairs and upkeep and carries their own homeowner's policy. This is a note, not a rental, so there are no tenants to manage. Recovered capital goes into the next deal.

Example deals

Three example deals, start to finish.

Each is a Midwest home bought for cash and sold on a 30-year owner-financed note. They show how the model works. They are examples, not a record of Miller Note Holdings results.

A $22,000 acquisition converted into a $290,500 owner-financed note.

Buy side

Cash acquisition$22,000
RehabLight touch
Basis recovered day one11%

Sell side · owner financed

Sale price$79,000
Down payment$2,500
Financed at ~12%$76,500
Monthly × 360$800
Total note value$290,500

Cash collected over time

Down payment plus monthly payments received. Dashed line marks the $22,000 purchase price.

5 yrs
$50,5002.3x
10 yrs
$98,5004.5x
20 yrs
$194,5008.8x
30 yrs
$290,50013.2x
Month 25

Full capital recovery. Everything after is profit for 27+ years.

49.2%

Annual cash-on-cash yield on the $19,500 remaining basis.

$9,600

Annual cash flow. $800 a month, no landlording.

1,220%

Total ROI on the $22,000 acquisition over the note.

Bars in all three examples share one scale. Figures are contract terms added up over the full 360 payments and assume the buyer pays as agreed to the end of the term. They are not adjusted for time value, taxes, or missed payments, and examples do not guarantee future results.

For wholesalers

Send us the deal that needs a cash buyer.

We know exactly what we are looking for, so you can tell quickly whether a property fits.

Our buy box

  • $30,000 and under. Cheaper is better. Deals at $10,000 to $20,000 come up regularly.
  • Clean, insurable title. General warranty deed only, never a quitclaim. A special warranty deed may work.
  • A neighborhood with buyer demand. We check Street View and crime maps, and someone walks the street before we buy.
  • Rents that support the payment. Market rents in the area should cover a monthly payment that includes taxes and insurance.
  • Passes due diligence. No structural failures, no title issues, and the power can be turned on. Cosmetic problems are expected.
  • Livable, not a shell. Dated finishes, missing kitchens and worn surfaces are fine. Full gut rehabs take months, so we skip them.

What to send

  • Address and asking price.
  • Photos of the whole house. Kitchen, baths, mechanicals and exterior.
  • Repair notes. What needs doing, and what does not.
  • Your assignment or closing timeline.

Markets we are targeting

We buy mainly in the Midwest, in places with low acquisition prices, steady rental demand and buyers who cannot get conventional financing.

  • Missouri
  • Indiana
  • Illinois
  • Ohio
  • Iowa
  • Michigan
  • St. Louis, MO
  • Decatur, IL
  • Cahokia, IL
  • Marion, IN
  • Muncie, IN
  • Akron, OH
  • Cleveland, OH
  • Toledo, OH
  • Warren, OH
  • Flint, MI

What we pass on

  • Shells. Crumbling structure, no electricity, uninhabitable.
  • Title problems. Liens, unresolved heirs and clouds on title. We run a title search before we commit.
  • The wrong neighborhood. No buyer demand at any price.
  • Payments that do not work. The buyer's payment has to cover taxes and insurance with margin.
  • Homes nobody has walked. Photos are not enough. Every property gets eyes on it before closing.

For homebuyers

A home with a payment you can plan around.

Not every buyer fits a bank's checklist. We sell homes directly on a written contract for deed, with a fixed monthly payment for 30 years.

Example terms

HomePriceDownMonthlyTerm
Example 1$79,000$2,500$800360 mo
Example 2$89,000$3,000$890360 mo
Example 3$89,000$2,000$787.71360 mo

Terms vary by property. Interest in these examples ranged from 10.375% to about 12%.

What you take on

  • Repairs and upkeep. Homes are sold as-is. This is a purchase, not a rental, so the home is yours to look after.
  • Your own homeowner's policy. We are named as additional insured, so a claim check is payable to both of us.
  • Property taxes are on us. We pay the property taxes as the seller. You handle everything else about the home.
  • Your monthly payment, on time. Your agreement states the grace period and the late fee.

Read the full contract and speak with an attorney before you sign anything.

How a contract for deed works

  • We keep legal title until the note is paid. The deed transfers to you when you pay the note in full.
  • You receive equitable title. That is the right to live in the home, improve it, and sell your interest, much like a homeowner with a mortgage.
  • You keep the home up. Repairs and maintenance are yours from day one.
  • If payments stop. Because the deed has not transferred, a default is handled under your state's contract-for-deed rules, which can move faster than a bank foreclosure. Read the default terms before you agree.

How closing works

  1. Step 1

    Down payment

    You pay the down payment at closing. It secures the home for you.

  2. Step 2

    Review the agreement

    We close in person or by e-sign. Take your time, and we encourage you to have an attorney read it first.

  3. Step 3

    Initial each key term

    You initial a compliance sheet clause by clause: sold as-is, repairs are yours, the late fee after the grace period, and the notice period before an eviction filing.

  4. Step 4

    Pay and own

    You make your monthly payments. When the note is paid off, the deed transfers to you.

Contact

Tell us about the property.

Selling a property?

Send the address, asking price, photos and repair notes.

Looking for a home?

Ask what we have available and what the terms would be.