Land Contracts - Posted by Frank(MI)

Posted by B.L.Renfrow on November 19, 2000 at 11:00:13:

…benefits of BUYING on a land contract, from the investor’s perspective. Plenty of benefits from SELLING this way, however.

About the only way I’d consider buying on a land contract would be if it was an absolutely great deal, and I couldn’t convince the seller to do anything else, and I already had a buyer lined up who I was sure could qualify for financing down the road. Even then, I wouldn’t be thrilled about it…too many things which could go wrong, and it leaves the seller with too much control over MY deal.

On the other hand, I love selling on land contracts. The terms can be anything you and the buyer agree upon. There are no pain-in-the-a$$ lenders to deal with. And retail buyers will flock to owner-financed deals like kids to the candy store.

Brian (NY)

Land Contracts - Posted by Frank(MI)

Posted by Frank(MI) on November 19, 2000 at 10:21:39:

Hello, I just found this site and will probably be asking
a lot of questions.
Here’s the first:
As a new RE investor who wants to buy, fix and resell,
what are the benefits (if any) of buying on a Land Contract?