Updated about 14 hours ago on . Most recent reply
slow flip strategy / seller financing
Had a question about slow flip strategy which I'm green to, but definitely interested in. I have a portfolio of rental properties, but dealing with tenant issues & maintenance sometimes can be very stressful & time consuming. Once a property is procured (often a distressed property) & then remarketed for sale at a much higher price on my financing terms As Is, I'm unclear on what's needed in SC for closing. Everything about this method mentions contract for deed & some general compliance/disclosure forms which for many reasons is more attractive for me, but SC seems to favor deed + promissory note + mortgage. If you're the one financing, wouldn't it be better going the contract for deed route where you hold the deed until payoff & can essentially recover easier if buyer defaults? Are there any investors on BiggerPockets that have done these owner financed deals that can share some insight?