Hello everybody... I'm actually a full time insurance agent, part time real estate investor, and when I have any time left over I like to play rock drums, which explains my user name. I have had several rental properties, ranging from house, vacation condo, and commercial buildings. I have sold all of my properties now, the last of which was a commercial building that was closed on two days ago. I decided to do owner financing on that one because it made the building easy for my current tenant to buy. I got exactly my asking price, a good down payment, 6% interest, and payments for 14 years. The best part for me though, is that he's now responsible for the property taxes, insurance, and repairs. I just deposit the checks. If the checks quit coming, then I get the building back. It looks good on paper, anyway. I'll let you know how it works out. :wink:
I'm glad I found this site, and I look forward to using it as a knowledge resource as I hopefully find a good deal on a house or two that I can buy and flip. That's the real estate direction I see myself leaning toward at this time. I don't want to do any more rentals. Maybe a forclosure? Tax sale? Short sale? Advice is always appreciated.
Drummer
