I was wondering if anyone knows a course,book,site on creating loan paper for land.
I want to buy a parcel of land then sell it on soft terms. IE no qualify, 9% interest, $x down, $x monthly
I have only found one course like this and it was $250 or so.
Seems like a great way to flip land at retail+ costs and make some extra coin on interest.
looks like the term is Land Contract.
Seems like a good thing.
Say I own a piece of land valued at $10,000. Perhaps it is land that is not moving high right now. I look for those wanting to own land but can’t get financing or know how.
Sell land to them at say 12,000 @ 9 %.
10 year loan would equate to $152 monthly or 18,240 total. If they become a dead beat, take the land back, and start again for more money.
Anyway, I have read bits and pieces of how to do this and how it makes cash flow but not a full blown course.
Hey Evergreen I will stop you from talking to yourselves!LOL that is a land contract it is a great way to generate income!
thanks. I finally figured it out after 4 weeks of wondering lol
I am so torn right now. I am trying to figure out if buying a single family home and renting is better/worse/same as buying a parcel or two with same money and soft selling it.