Would Like To Sell Using Owner-financing Technique
Hi all, I'm new to the site and looking for some guidance. I just recently purchased my first investment property. It's a 3bd/2bth house. My wife and I are considering two options: reselling or renting. To resell we want to know how to structure an 'owner-financing' deal, where we take back a mortgage. We bought the house for 105k and its worth 125-130k. It needs cosmetic TLC (i.e., paint and maybe carpeting). Any insight/instructions or guidance would be greatly appreciated. :-?
Dave,
I'm not sure we are talking about the same thing. I've already bought and closed on the house. Now we are considering selling it and from what I've learned or heard to this point taking back a mortgage ourselves might be the way to go. I'm thinking that we could probably get some cash up front for down payment, as well as, selling closer to the market value due to no bank involvement. Let me know if what your saying is still relevant to this idea. Thanks.