Posted by Jim Benac on June 07, 2006 at 07:51:24:
I am a purchaser of land contracts and mortgages. Most buyers of land contracts want “seasoned” paper. “New” land contracts are harder to sell, and there is more risk, depending on the amount of the loan to value ratio (down payment). What State are you in? Write me for more info. Thanks
Selling fixer-upper on land contract - Posted by KRIS
Posted by KRIS on May 03, 2006 at 07:16:31:
I found a property that needs lots of work but is priced about 60-70% below ARV. I was looking to just clean the junk out of it and then resell it on land contract for about 20K more than what i got it for. I could fix it up and retail it but I don’t like doing rehab stuff or dealing with the time it takes. Would like to get in, clean it up, resell on land contract and then sell my land contract to another investor. Has anybody had experience with buying junkers and reselling them to other investors on land contract? Would I have problems selling the note to another investor?