I want to purchase a property using a land contract where the seller will finance me at 4% with a 3 year balloon. This frees up money I have to do some rehabbing. Then my plan is “lease to own” to someone else with a 2 year balloon. Is there a better way to go in this situation? I will make sure there is no prepayment penalty. Thanks!
I use land contracts on properties I sell. They tend to be more favorable to the seller, in that it is easier for me to terminate the contract if the buyer defaults rather than using a deed of trust. David
Fitz,
I would say you are on your way. The plan sounds great… also check out the freebies page here and see if there is a free book on CFD
Okay, thanks, will do!
Why a land contract??? Is it credit issues or money down issues?
No, it just would leave me enough money to invest in another place. I see a lot of people recommending to invest in more than one opportunity if it’s possible.